ISM INTE Quiz 1 Topic 4 Questions 1-5

Question: 1

Through cycle counting, a supply manager learns that inventory inaccuracies are being caused by errors made when received goods are entered into the company's enterprise business system. Which of the following is the FIRST course of action the supply manager should take to reduce these inaccuracies?

ADetermine how the KPIs for receiving accuracy are being measured, and if there is a disconnect between the KPIs and the cycle count data

BReview the warehouse personnel training materials to determine if there are any deficiencies, and develop a plan for making the necessary corrections

CForm a process improvement team using quality management techniques to determine the cause of the errors and make recommendations for their elimination

DImplement verification steps as data are entered into the system, and review available data to determine the scope and depth of the issue

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Question: 2

A supply manager for JKL, Inc. is negotiating a contract with a supplier of a component. The component will be used in a new product JKL Is manufacturing and plans to bring to market early next year. Which of the following will be the MOST important provision for the supply manager to negotiate for?

AA fixed cost of raw materials that will remain stable over the following year

BA low minimum order quantity that allows flexibility to buy additional materials

CA sustainable packaging solution with recyclable transport crating

DOwnership of the molds and dies used to manufacture the component

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Question: 3

UVX, Inc. is seeking suppliers of components to be used in a new heavy equipment product UVX is introducing in the marketplace. The firm conducts a market intelligence analysis and spend analysis to determine feasibility. These findings are reported to the company stakeholders, who decide to produce 25 units every two weeks. UVX issues a solicitation for bids and includes the stakeholders' requirements with the specifications.

At the close of the bidding process, UVX receives one offer that can deliver enough components to produce 15 units every four weeks. The remaining potential bidders decline altogether, citing an inability to meet UVX's specifications.

Which of the following should UVX have done in order to ensure a better response to the solicitation?

AExecute a supply chain management process

BPerform a value analysis

CConduct early supplier involvement

DPerform supplier development

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Question: 4

When identifying complex market conditions affecting product or service demand factors, which of the following methods is typically MOST useful?

ATime series analysis

BTrend projections

CMoving averages

DCausal modeling

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Question: 5

A firm has a 50% chance of receiving its daily purchases of fresh bread from a supplier in the event a regional flooding incident. The supply manager approaches two suppliers in geographic locations less likely to be disrupted by the event, and both agree to be ad-hoc suppliers. Their likelihoods of supplying in the event of the flood incident are 75% and 80% respectively. If the flooding event occurs, purchases would be sought from all three companies. Based on this information, what is the probability of the firm being supplied fresh bread during a major regional flooding event'

A97.5%

B80%

C70%

D99.5%

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ISM INTE Quiz:1 Topic:4 Questions:1-5