Lscm 3960 Exam 2 Study Guide / 56 Correct Questions & Answers

Two basic forms of the EOQ model {Ans: fixed quantity model and the fixed interval model. The former is the most widely used}Trend Fluctuation {Ans: Gradual increase or decrease in demand over time for anorganization. Example Iphone models}The key financial consideration in choosing between private and 3PL distribution options is {Ans: volume of product being moved.}This type of forecast error measure is the only one to show if a stock out or overage occurred: {Ans: CFE (bias)}CPFR is a method {Ans: to allow trading partners in the supply chain to collaboratively develop and agree upon a forecast of sales to enable integrated operational planning and execution}JIT model aims to {Ans: minimize inventory levels, emphasizing frequent deliveries of smaller quantities and alliances with suppliers or customers}