Monitoring & Analyzing
Inventory Control
Inventory Management & Forecasting
Managing Inventory in the Supply Chain
Performance Measurement
100
The number of times that inventory cycles over a 1 year period
What is Inventory Turns
100
Technology that uses radio waves to automatically identify objects.
What is RFID
100
Example of Independent vs Dependent forecasts
What is: Independent -> Cars projected to be sold Dependent -> tires for those cars
100
Inventory flow type most likely found in Burger King
What is Pull System
100
How Hurdle Rate is determined
What is company policy for minimum rate of return on an investment
200
Line item fill rate calculation
What is Total number of line items filled / number of items on an order
200
Strategy that relies on POS data to indicate when inventory needs to be replenished
What is Quick Response
200
Difference between Simple Moving Average and Weighted Moving Average forecasts
What is weighted moving average adds multiplier to give greater weight to more recent periods
200
Strategy of shipping in smaller more frequent lots with deliveries that arrive when they are needed
What is Just in Time
200
How inventory service cost is determined
What is taxes and insurance allocated across inventory
300
Order fill rate calculation
What is the total number of orders filled on-time / total number of orders during that time period
300
Form of periodic inventory accounting where transactions are accumulated and processed on a set schedule
What is Batch Processing
300
When weighted moving average would be expected to produce a lower forecast error
What are: - seasonality - sales trending sharply (up or down)
300
Model where outside firm is responsible for maintaining the inventory levels of a product or products
What is VMI
300
How inventory risk cost is determined
What is obsolescence, damage, shrinkage & transshipment costs
400
The components of the minimum quantity in a min/max inventory replenishment system
What is: - projected demand during lead time - safety stock
400
Periodic counting of the entire inventory in the warehouse
What is Physical Inventory
400
Result of improved visibility of inventory across the supply chain
What is reduce inventory
400
Model where product is held in stock for sale but the ownership remains with the supplier
What is Consignment
400
How storage space cost is determined
What is moving goods in and out of storage, rent, heating, lighting, etc.
500
For ABC analysis. The percentage of items expected to fall in categories A, B, and C
What is: A - 20% B - 50% C - 30%
500
The Pareto rule as it is applied to inventory
What is 20% of the inventory accounts for 80% of the cost
500
Of suppliers, salespeople, manufacturing and finance, the group least likely to participate in the S&OP process
What are Suppliers
500
Sharing information across the supply chain
What is CPF&R
500
EOQ formula
What is SQRT( (2 * annual demand * ordering cost)/(carrying cost * unit cost))
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