Supply Chain Management
Practice Exam
Course Introduction
Supply Chain Management explores the design, planning, execution, control, and monitoring of supply chain activities to create net value, build a competitive infrastructure, and synchronize supply with demand. This course covers key concepts such as procurement, production, inventory management, logistics, and distribution, emphasizing how effective supply chain strategies can enhance customer satisfaction and organizational efficiency. Students will analyze global supply chain challenges, examine technology-enabled solutions, and assess sustainable practices, developing the analytical and problem-solving skills necessary to manage complex, interconnected supply networks in a globalized business environment.
Recommended Textbook
Managerial Decision Modeling with Spreadsheets 3rd Edition by Nagraj Balakrishnan
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12 Chapters
583 Verified Questions
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Chapter 1: Introduction to Managerial Decision Making
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Sample Questions
Q1) A measurable quantity that is inherent in a problem is known as a(n):
A)problem parameter
B)variable
C)model
D)assumption
E)factor
Answer: A
Q2) If all the values of the input variables in a decision model are known with certainty,then the model is considered to be deterministic.
A)True
B)False
Answer: True
Q3) Which of the following models is a picture or drawing of reality?
A)physical model
B)schematic model
C)scale model
D)mathematical model
E)analytical model
Answer: B
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Page 3
Chapter 2: Linear Programming Models: Graphical and Computer Methods
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Sample Questions
Q1) A linear programming problem has the following two constraints: X 20 and X 25.This problem is infeasible.
A)True
B)False
Answer: True
Q2) A furniture store produces beds and desks for college students.The production process requires assembly and painting.Each bed requires 6 hours of assembly and 4 hours of painting.Each desk requires 4 hours of assembly and 8 hours of painting.There are 40 hours of assembly time and 45 hours of painting time available each week.Each bed generates $35 of profit and each desk generates $45 of profit.As a result of a labor strike,the furniture store is limited to producing at most 8 beds each week.Determine how many beds and desks should be produced each week to maximize weekly profits.
Answer: 11ea3b58_9b3d_7b86_ba0c_fdfbed4d80d0_TB1469_00
Q3) Linear programming models typically do not have coefficients (i.e. ,objective function or constraint coefficients)that assume random values.
A)True
B)False
Answer: True
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Chapter 3: Linear Programming Modeling Applications with Computer Analyses in Excel
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49 Verified Questions
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Sample Questions
Q1) Production,inventory,and demand are typical decision variables in a production scheduling,multi-period linear programming application.
A)True
B)False
Answer: False
Q2) In a "Portfolio Selection" application,the objective function is always to minimize risk,given a set of legal and policy constraints.
A)True
B)False
Answer: False
Q3) In a multi-period production scheduling application,which equation describes the relationship between demand,production,and inventory?
A)productiont + demand - inventory = inventory
B)productiont + demand + inventory = inventory
C)productiont - demand + inventory = inventory
D)productiont - demand + inventory = inventory
E)productiont - demand + inventory = inventory
Answer: E
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Chapter 4: Linear Programming Sensitivity Analysis
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Sample Questions
Q1) Use the Sensitivity Report to answer the following questions:
a.What is the total minimal processing time in hours?
b.Suppose that secretary A can process a type 2 claim in two hours rather than three hours.How would this impact the current optimal solution?
c.Assume that secretary C can process a type 4 claim in 6 hours rather than 5 hours.How would this impact the current optimal solution?
d.Currently,secretary C is not processing any type 4 claims.Suppose that we force secretary four to process one type 4 claim.What impact would this have on the optimal solution?
Q2) What is the optimal objective function value?
A)925
B)825
C)100
D)92.5
E)none of the above
Q3) Sensitivity analysis is analogous to postoptimality analysis
A)True
B)False
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Chapter 5: Transportation, Assignment, and Network Models
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Sample Questions
Q1) Refer to the figure.What is the constraint associated with node 2?
A)X - X = 0
B)X - X - X = 0
C)X + X - X = 1
D)X - X + X = 0
E)X + X - X = 0
Q2) Refer to the information above. Using Excel, determine how many units should be shipped for all possible origin and destination points (final or intermediate) in the distribution network in order to minimize shipping costs.
Q3) Which of the following models determines the path through the network that connects all the points?
A)Transportation model
B)Assignment model
C)Product mix model
D)Shortest-path model
E)Minimal-spanning tree model
Q4) Every node in a network flow problem has a decision variable associated with it.
A)True
B)False
7
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Chapter 6: Integer, Goal, and Nonlinear Programming Models
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Sample Questions
Q1) Consider the following linear programming problem: \[\begin{array} { l }
\text { Max: } 500 A + 700 B \\ \text { Subject to: } \\
2 A + 3 B \leq 35 \text { (assembly hours) } \\
3 A + 5 B \leq 40 \text { (machine hours) } \end{array}\]
Reformulate and solve this problem as a goal programming problem if the following goals,with their associated weights,must be met.
Goal 1: Produce at least 15 units of product A;Weight 15
Goal 2: Produce at least 15 units of product B;Weight 15
Goal 3: Minimize overtime in assembly department;Weight 25
Goal 4: Minimize overtime in machine department;Weight 25
Goal 5: Achieve at least $100,000 in profit;Weight 20
Q2) Which of the following statements about nonlinear programming is False?
A)Either the objective function or at least one constraint is nonlinear.
B)The optimal solution must be a corner point solution.
C)There can be both local and global optimal solutions.
D)There is no precise way to know where to start the solution search process.
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Chapter 7: Project Management
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Sample Questions
Q1) Refer to the information above.Assume that that time required to complete each activity is as follows.
\[\begin{array} { c l l }
\text { Activity } & \text { Time (Days) } \\
\text { A } & 3 \\
\text { B } & 4 \\
\text { C } & 5 \\
\text { D } & 3 \\
\text { E } & 2 \\
\text { F } & 1 \\
\text { G } & 4 \\
\text { H } & 3 \\
\text { I } & 2 \\
\text { J } & 5
\end{array}\]
a.Calculate the slack for each activity.
b.Calculate the earliest and latest start and finish times for each activity.
c.Determine the critical path.
d.Determine the length of the project.
Q2) Using the data above,develop a network for this project.
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Page 9
Chapter 8: Decision Analysis
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Sample Questions
Q1) Refer to the payoff table.Using the expected monetary value (EMV)criterion,what is the highest attainable expected profit? Assume P(S1)= 0.5 and P(S2)= 0.25.
A)$101.25
B)$103.33
C)$108.33
D)$125
E)$145
Q2) Refer to the information above.
a.Which alternative should be chosen based on the maximax criterion?
b.Which alternative should be chosen based on the maximin criterion?
c.Which alternative should be chosen based on the Lapalce criterion?
d.Which alternative should be chosen based on criterion of realism with alpha = 0.7?
e.Which alternative should be chosen based on the minimax regret criterion?
Q3) An individual who is indifferent to risk would have a utility curve that is linear.
A)True
B)False
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Chapter 9: Queuing Models
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Sample Questions
Q1) Refer to the table.What is the average number of customers in the queue plus the number being served?
A)0.12
B)1.76
C)2.12
D)2.90
E)3.30
Q2) Kendall's three-symbol notation is sometimes extended to include 5 symbols.
A)True
B)False
Q3) The average time each customer spends in the queue is referred to as:
A)W
B)Wq
C)L
D)Lq
E)
Q4) The cost of providing service is generally easier to quantify than the cost of waiting time.
A)True
B)False
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Chapter 10: Simulation Modeling
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Sample Questions
Q1) Joe Smith is a handyman who owns his own plumbing business.In a typical month,the number of service calls that he gets varies according to the following distribution:
\[\begin{array} { | l | c | c | c | c | c | }
\hline \text { Number of Calls } & 15 & 16 & 17 & 18 & 19 \\
\hline \text { Probability } & 0.3 & 0.3 & 0.2 & 0.1 & 0.1 \\
\hline
\end{array}\]
His revenues per service call are normally distributed with a mean of $100 and a standard deviation of $20.His monthly expenses can range between a minimum of $1000 and a maximum of $1500,where all values between the minimum and maximum occur with equal likelihood.
a.Use Crystal Ball to simulate Mr.Smith's monthly profits.Run 1000 replications of the model.
b.What is the average monthly profit?
Q2) Replicating a model about 20 times is adequate for the simulation results to be valid and useful.
A)True
B)False
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Page 12
Chapter 11: Forecasting Models
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Sample Questions
Q1) Two different forecasting techniques (F1 and F2)were used to forecast sales.Actual sales and the two sets of forecasts are as follows:
\[\begin{array} { | l | c | c | c | c | c | c | }
\hline \text { Perind } & 1 & 2 & 3 & 4 & 5 & 6 \\
\hline \text { Actual Sales } & 12 & 14 & 13 & 11 & 17 & 18 \\
\hline \mathbf { F 1 } & 10 & 13 & 15 & 10 & 18 & 18 \\
\hline \mathbf { F 2 } & 11 & 15 & 12 & 13 & 15 & 17 \\
\hline
\end{array}\]
a.Compute MAD for each forecasting technique.Which forecasting technique is more accurate based on the MAD criterion?
b.Compute the MSE for each set of forecasts.Which forecasting technique is more accurate based on the MSE criterion?
Q2) Refer to the table above.
a.Prepare a line graph of the time series data.
b.Do the data appear to be stationary or non-stationary?
Q3) Refer to the table above.Forecast next quarterly sales using a 3-period weighted moving average.Use Solver to determine the optimal weights that minimize MSE.
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Chapter 12: Inventory Control Models
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Sample Questions
Q1) Refer to the information above.What is the optimal number of yearly setups?
A)43.25
B)37 C)45
D)47.94
E)39.53
Q2) Loss of goodwill must be included in stockout costs. A)True
B)False
Q3) Safety stock is usually held only when demand is uncertain. A)True B)False
Q4) The C group items in ABC analysis require closer monitoring than the A group items. A)True B)False
Q5) The average inventory level is inversely/negatively related to order size. A)True B)False
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