An Automobile Manufacturing Company Wants to Be the First Company

question 64

Multiple Choice

An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The fact that the company has a set target date to complete the task reflects the _____ dimension of a goal.

• A) realistic
• B) aggressive
• C) measurable
• D) time-bound
• E) specific

Recognize the strategies for managing supply chain risks such as demand volatility and supply uncertainties.

Grasp the concept of echelon inventory and its significance in supply chain visibility.

Understand the concepts of safety inventory and its impact on fill rate and cycle service level.

Gain knowledge about different types of fill rates and cycle service levels in supply chain management.

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Definitions:

Cost flow assumption

An accounting method that determines how costs are allocated to inventory and cost of goods sold, such as FIFO, LIFO, or weighted average.

Gross profit

The difference between sales revenue and the cost of goods sold before accounting for operating expenses, interest, taxes, etc.

Ending merchandise inventory

The worth of products on hand for purchase at the conclusion of a financial period.

Rising prices

A situation in an economy where the general level of prices for goods and services is increasing over a period of time.