Inventory and Warehouse Management
Question Bank
Course Introduction
Inventory and Warehouse Management explores the fundamental principles and practices involved in efficiently controlling inventory levels and managing warehouse operations. The course covers inventory classification, demand forecasting, replenishment strategies, and inventory control systems, while emphasizing the impact of effective warehouse design, layout, and technology on organizational performance. Students will learn about modern storage and handling equipment, safety protocols, inventory accuracy, and the integration of information systems to optimize supply chain performance. Through case studies and practical exercises, learners will develop skills to analyze, design, and manage inventory processes and warehouse operations for various industries.
Recommended Textbook
Managing Operations Across the Supply Chain 3rd Edition by Morgan Swink
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Page 2
Chapter 1: Introduction to Managing Operations Across the Supply Chain
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Q1) While there is overlap between operations management and supply chain management, the two are different in that:
A)Operations management focuses on production, supply chain management focuses on supply and logistics.
B)Operations management focuses on tangible goods, supply chain management focuses on services.
C)Operations management focuses on processes, supply chain management focuses on relationships and flows.
D)All of these. The key distinction is that supply chain management focuses on relationships and flows, whereas operations management focuses on processes.
Answer: C
Q2) What kinds of questions does an operations manager who is responsible for strategic level planning address?
A)Which employees should work the day shift tomorrow?
B)How should this process be organized?
C)How many manufacturing plants should the company operate?
D)Should we make this part or buy it?
Answer: C
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Chapter 2: Operations and Supply Chain Strategy
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Q1) Which of the following attributes is directly related to fitness for use?
A)Transaction Price
B)Timeliness
C)Performance
D)Availability
Answer: C
Q2) Which of the following is NOT considered a key characteristic of a core capability:
A)It is based on factors that are rare or unique to the firm.
B)It is hard to imitate.
C)It does not need to be extendable to many market opportunities.
D)There are few substitutes for it.
Answer: C
Q3) Which three elements make up the triple bottom line?
A)Planet, Pollution, Profit.
B)Pollution, Equality, People.
C)Profit, Equality, Pollution.
D)People, Profit, Planet.
Answer: D
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4
Chapter 3: Managing Processes and Capacity
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Q1) Which process activity is due to other factors (e.g., insufficient operating capacity, lack of material, equipment breakdowns)?
A)Delay
B)Operation
C)Storage
D)Transportation
E)Inspection
Answer: A
Q2) The following sequence shows four operations for a computer chip assembly process and the effective capacity of each.Which step is the bottleneck? Step 1: 500 chips/hour Step 2: 250 chips/hour Step 3: 200 chips/hour Step 4: 550 chips/hour
A)Step 1
B)Step 2
C)Step 3
D)Step 4
Answer: C
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Chapter 4: Product Process Innovation
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Q1) Choose the service type that is correctly matched with one of its key characteristics.
A)Service factory-facilities and equipment represent a large proportion of total costs.
B)Service shop-there is a low degree of customer interaction.
C)Mass service-transactions are very varied from customer to customer.
D)Professional service-transactions tend to be fairly standardized.
Q2) Zanda Corp.wants to have a process structure that has cost advantages similar to continuous or repetitive processes, but wants to produce greater variety than those processes normally allow.Zanda should consider:
A)Cellular manufacturing.
B)Job shop processes.
C)Mass customization.
D)Project process.
Q3) A common goal when designing a functional layout is to:
A)Ensure materials arrive on schedule.
B)Reduce the time and cost of moving people and materials between departments.
C)Avoid downtime at any workstation.
D)Balance the flow of materials through the process.
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6
Chapter 5: Manufacturing and Service Process Structures
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Q1) Which of the following statements that might be made by a business executive best expresses the overall philosophy of Total Quality Management?
A)"We've achieved Six Sigma.That's good enough."
B)"There's always room for improvement."
C)"The workers need to work harder to prevent quality problems."
D)"We never sell defective products to customers."
Q2) The types of costs included in a cost of quality analysis include:
A)Production, delivery, and marketing.
B)Internal and external.
C)Direct and indirect.
D)Prevention, appraisal, and failure.
Q3) Ted wants to hire more inspection personnel to insure that all products shipped are free of defects.What TQM core value would this action violate?
A)Workers are more valuable than managers
B)Prevention is better than rework
C)Better quality leads to long term success
D)A PDCA cycle should always be followed
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Chapter 6: Managing Quality
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Q1) The specifications for the diameter of a molded part are 10 mm ± 0.5 mm.The actual average and standard deviation from 250 parts sampled is 10.1 mm and 0.1 mm, respectively.What is C<sub>pk</sub>?
A)0.81
B)1.01
Q2) A packaging plant is running a filling process where packages are filled with 24 oz.+/- 0.08 oz.A capability study reveals that the process mean is 24 oz.with a standard deviation of 0.02 oz.What is the capability of the packaging line?
A)0.67
B)1.33
C)0.50
D)1.50
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Chapter 7: Managing Inventories
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Q1) What is the possible impact of lean systems, if taken to its extreme, on supply chain risk?
A)No impact - they are not related
B)Positive impact - lean reduces risk
C)Negative impact - lean increases risk
D)Yet to be determined - the data is not yet in
Q2) Johnson Corp.has so strongly embraced the lean philosophy that it wants to apply the approach to all processes in the organization.Doing this may actually have the most severe negative impact on:
A)Radical product innovation.
B)Incremental product innovation.
C)TAKT time.
D)All of these.
Q3) Most of the tools and techniques used in lean systems seek to:
A)Reduce variability from the system.
B)Reduce the operator's discretion.
C)Improve product quality.
D)None of these.
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9
Chapter 8: Lean Systems
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Q1) Which measure of basic service will most likely show poorest performance for a firm?
A)Unit fill rate
B)Order fill rate
C)Line fill rate
D)Perfect orders
Q2) A firm has found that it provides a 90 percent order fill rate (orders shipped complete), 90 percent on-time delivery, 90 percent of its orders arrive at customers' destination in perfect condition, and 90 percent of the time all documentation is correct.These are all of the elements of a perfect order for this company's customers.If the firm improves its performance in on-time delivery to 98 percent, what is its new perfect order performance?
A)88 percent
B)98 percent
C)0 percent
D)80 percent
E)71.4 percent
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10
Chapter 9: Customer Service Management
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Q1) A company has decided that it no longer needs to extensively count and inspect the products it receives from a particular supplier.This suggests that the purchasing company has begun:
A)Spend analysis.
B)Supplier certification.
C)Process simplification.
D)Time reduction analysis.
Q2) Local sourcing:
A)Reduces delivery costs.
B)Is called "nearshoring".
C)Is used when cost is the primary objective.
D)Takes advantage of lower trade barriers from trade agreements.
Q3) The most important stage in the negotiation process is:
A)Planning for the negotiation.
B)The face to face meeting.
C)When the contract is signed.
D)Forming the negotiating team.
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11
Chapter 10: Sourcing and Supply Management
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Q1) Zanda Corp.had established a production plant in Thailand.Recently it decided to close the plant and move production to Mexico.This decision was likely made after Zanda:
A)Conducted a spend analysis.
B)Conducted a make-or-buy analysis.
C)Examined total landed cost.
D)Evaluated consolidation strategies.
Q2) Products are received, sorted, sequenced, and selected into loads at a:
A)Stockpiling center.
B)Product support warehouse.
C)Transshipment point.
D)Reverse logistics center.
Q3) Stock-outs are very costly for a medical device company.The logistics manager has decided to hold more inventory to reduce stock-outs.This is an example of:
A)Cost-to-cost tradeoffs.
B)Market consolidation strategy.
C)Value density.
D)Cost-to-service trade-offs.
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Chapter 11: Logistics Management
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Q1) A forecasting system that changes the value of the alpha parameter in response to the level of forecast error is known as:
A)A tracking signal
B)A trend enhanced exponential smoothing model.
C)A causal regression.
D)A time series model.
E)An adaptive model.
Q2) Alpha Company sold 2,000 widgets yesterday.It had forecasted sales of 1,900 units.Using exponential smoothing with a smoothing constant of 0.6, what is the forecast for today's sales of widgets?
A)2,060
B)1,940
C)2,040
D)1,960
Q3) The primary difference between demand management and demand forecasting is:
A)Forecasting is only possible when quantitative data are available.
B)Demand management is proactive, while forecasting attempts to predict.
C)A firm cannot execute both approaches simultaneously.
D)One approach deals with uncertainty, while the other deals with known demand.
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Page 13
Chapter 12: Demand Planning: Forecasting and Demand Management
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Q1) Within the hierarchy of planning, the Sales & Operations Planning system occurs at which of the following levels?
A)Long range
B)Intermediate range
C)Short range
D)Operational level.
Q2) Which of the following is an advantage of a chase production strategy (as compared to a level plan)?
A)Low investment in equipment.
B)High inventory carrying cost.
C)Lower inventory investment.
D)Less investment in employee training.
Q3) Which of the following is NOT an input into the S&OP?
A)Safety Stocks
B)Spare Parts Demand
C)Promotion
D)Lot Sizing Logic.
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Page 14
Chapter 13: Sales and Operations Planning
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Q1) A master production schedule shows the beginning inventory is 200 units, the forecast is 600 units and the actual customer orders is 500 units.Using a lot-for-lot rule, what is the MPS quantity for period 1?
A)400
B)300
C)600
D)500
Q2) The primary purpose of an MRP system is to:
A)Develop forecasts.
B)Plan transportation and deliveries.
C)Schedule personnel.
D)Match supply and demand
Q3) Jones Company uses widgets as component parts.In a particular week it has gross requirements for 250 units of widgets, beginning inventory of 50 widgets, and scheduled receipts of 350 widgets.Available inventory for the next period is:
A)650.
B)50.
C)250.
D)150.
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Page 15
Chapter 14: Materials and Resource Requirements Planning
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Q1) What is a key factor that must be considered when an organization evaluates the potential of a project?
A)The project's fit with overall organizational strategy.
B)The availability of resources to execute the project.
C)The business justification for investing in the project.
D)All items are correct.
Q2) Which of the following is NOT a good reason to terminate (kill) a project?
A)Consistent budget and schedule overruns.
B)Changing organizational priorities.
C)Uncertainty regarding the project's outcomes.
D)Wrong resources assigned to the project.
Q3) Project manager Bill Jones has determined that task R has a high variation between "best case" and "worst case" estimated durations.Task R is probably a good candidate for:
A)Close monitoring and frequent status reporting.
B)Buffering.
C)Contingency planning.
D)All of these.
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Chapter 15: Project Management
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Q1) Task X has a 82% probability of completion in 20 days or less.The standard deviation of its duration is 5 days.What is its expected duration?
A)15.4 days
B)15.9 days
C)19.1 days
D)12.3 days
Q2) If a project path has an expected duration of 10 days and a standard deviation of 3 days, what is the probability that the path will be completed in 10 days or less?
A)0 percent
B)33 percent
C)50 percent
D)75 percent
Q3) An estimate of the duration of a task that is based on a weighted average of a range of possible task durations is known as:
A)Most likely duration.
B)Expected duration.
C)Worst-case duration.
D)Probabilistic duration.
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17
Chapter 16: Sustainable Operations Management
preparing for the Future
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Q1) Production planning and scheduling is most likely to be associated with which of the following activities?
A)Operation
B)Inspections
C)Storages
D)Transportation
Q2) Which of the following mapping techniques identifies and integrates functional responsibilities into the process mapping process?
A)Process flow diagram
B)Value stream mapping
C)Service blueprinting
D)Swim lanes
Q3) Which of the two set of activities are most likely to be " value-adding"?
A)Operations and storages
B)Storages and delays
C)Delays and transportations
D)Transportations and operations.
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Page 18
Chapter 17: Process Mapping and Analysis
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Q1) XYZ Corporation is using customer interviews and surveys to gather perceptions regarding new product concepts.This approach is known as:
A)Quality function deployment.
B)Beta testing.
C)Voice of the customer.
D)Failure modes and effects analysis.
Q2) A project team interested in identifying and correcting potential quality problems in a product design would find which one of the following tools most useful?
A)QFD
B)FMEA
C)Value analysis
D)DFM
Q3) Why is product/process innovation an important driver of firm performance?
A)Innovative firms typically have stronger brands
B)Product design decisions largely affect supply chain costs
C)Strong innovators can respond to market opportunities faster
D)All of the above are reasons why innovation drives firm performance
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Chapter 18: Quality Improvement Tools
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Q1) Suppose a chief supply chain officer takes the total of all purchasing managers' annual salaries and divides this number by the number purchase orders placed in a year.This calculation would provide insight into what kind of inventory cost?
A)Purchasing costs
B)Ordering costs
C)Holding costs
D)System management costs
Q2) Jay's Café orders cans of beans every 2 weeks.It typically takes the supplier 2 days to fulfill the order.Jay uses 5 cans per day on average, with a standard deviation of 2 units per day.Assume that Jay wants to have a 50% service level on the availability of beans.There are currently 5 cans of beans in Jay's inventory.How many cans should Jay order?
A)100
B)80
C)85
D)75
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Chapter 19: Advanced Methods for Project Scheduling
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Q1) Which of the following phrases BEST defines the concept of sustainability, as set out by the United Nations Brundtland Commission:
A)To reduce, minimize, and ideally eliminate pollution, thus preserving the planet and its resources for the benefit of not only today's generation but also the future.
B)To meet the needs of the present without compromising the ability of future generations to meet their needs.
C)To ensure that business and the community work together to preserve limited resources while also ensuring that business is appropriately rewarded for its efforts.
D)To foster an environment that satisfies the requirements of the triple bottom line-namely people, profit, and the planet-the keys to our future survival.
Q2) When people and profit intersect, from a sustainability perspective, which of the following areas is most impacted?
A)Equitability
B)Sustainability
C)Bearability
D)Viability
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