10 Questions
What is a consequence of large lots in supply chain management?
Reduced unit shipping and production costs, but increased holding costs and disguised real demand
What can help reduce the bullwhip effect in supply chain management?
Sharing point-of-sales information and using computer-assisted ordering
What is a benefit of reducing lot sizes in supply chain management?
Reduced ordering costs and increased inventory turnover
What is the main idea behind Single-Stage Control of Replenishment?
Designating one member to monitor and manage inventory based on end-user demand
What is the primary goal of Collaborative Planning, Forecasting, and Replenishment?
To reduce supply chain costs through shared information and joint effort
What is the primary goal of the make-or-buy decision in manufacturing?
To determine which products or services to obtain externally or produce internally
What is the characteristic of a supplier in a few suppliers arrangement?
Forms a long-term relationship with the buyer
What is the bullwhip effect in supply chain management?
The magnification of fluctuations due to local optimization
What is the primary goal of vertical integration in supply chain management?
To develop the ability to produce goods or services previously purchased
What is the characteristic of a virtual company in supply chain management?
It provides services on demand
Learn about the make-or-buy decision process in manufacturing, including outsourcing and supplier selection. Understand the factors that influence the decision to produce in-house or purchase from external sources.
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