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Exam 15: Supply Chain Management for Agribusiness

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Question 1

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Any manual, automated, or mental process used to transform inputs into products and services is called -------------------------------

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Question 2

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The series of channels through which parts, products, and finished inventory are stored and moved from suppliers between outlets, and ultimately to consumers are called physical distribution systems.

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Managing the flow of materials into and out of the firm is called supply chain management.

The goal of "quick response" is to reduce the time it takes for a product to go from an idea to prototype.

A typical firm spends about 40 to 60 percent of its total income from sales on purchased materials and services.

Highway, rail, and water are examples of the mode of -------------------------------.

Warehousing would include storage at

Category(ies) used for accounting purposes for inventory is (are)

The inventory type that results in the minimum amount of inventory needed to cover the period of time between the warehouse's reordering and its receipt of the additional stock is called

Additional stock that is used to offset potential variations in demand is called _________ stock.

A responsive, accurate, information-based system that links distributors and suppliers together with retail supermarkets is

Production for inventory in which production occurs before the actual sale is made is called make-to-order strategy.

The master production schedule strategy in which a firm has (or uses) previously manufacturing components, and these components are assembled when an order is placed is called

With JIT, suppliers make smaller deliveries on a frequent basis.

One aspect of efficient consumer response is to introduce new products.

A production operations system that is referred to as a "push" system is

Current logistics management objective(s) include

One of the five basic modes of transporting goods is the Internet.

The inventory type that uses an actual physical count of stock on hand that is conducted at regular intervals is called -------------------------------inventory.