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Prepare for the ISM Supply Management Integration exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
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The questions for INTE were last updated on Nov 17, 2024.
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MNO, Inc. is a national retail home goods chain formed of local franchisees. Each franchisee uses its own returns processing systems. A key advertising point for MNO is its liberal return policy, which is part of its overall focus on excellent customer service. While feedback from customers is positive regarding MNO's return policy, there have been inquiries as to why stores handle returns via different processes. MNO's supply manager suggests the implementation of a reverse supply chain to deal with this issue and possibly yield cost enhancement opportunities. In order to implement this, which of the following is the FIRST course of action the supply manager should take''
Implementing a reverse supply chain requires first defining a consistent return process that can be integrated into the existing forward supply chain. This ensures that all franchisees follow the same procedures for handling returns, which enhances efficiency, customer satisfaction, and potentially reduces costs. Standardizing the return process also allows for better tracking and management of returned goods, improving overall supply chain performance. By addressing this foundational step first, MNO, Inc. can ensure a smoother implementation of the reverse supply chain. Reference:
* Rogers, D. S., & Tibben-Lembke, R. (2001). An Examination of Reverse Logistics Practic-es. Journal of Business Logistics, 22(2), 129-148.
* Blanchard, D. (2010). Supply Chain Management Best Practices. John Wiley & Sons.
A firm that manufactures residential doors and windows runs short of rubber molding used in production. The next delivery from the contracted supplier is due in two working days. To maintain production, the firm's supply manager purchases 100 feet of material from a local supplier. This type of purchase is known as
Spot buying refers to purchasing goods on the open market for immediate requirements, often at a premium, to meet urgent needs. This approach addresses shortages quickly, ensuring continuity in production.
A manufacturer receives notice from one of its largest customers stating that, from this point on, it will only accept environmentally friendly boxes for packaging. The manufacturer checks the remaining packaging in its inventory and finds that it still has over six months' worth of boxes that are not made of environmentally-friendly materials. These boxes are custom-designed and cannot be returned to the packaging material supplier. In this situation, the manufacturer would be BEST served by doing which of the following?
Negotiating a grace period allows the manufacturer to utilize the existing inventory of non-environmentally friendly boxes while planning a transition to meet the customer's requirements. This approach balances customer satisfaction and cost efficiency, avoiding waste and financial loss. Reference: Supply chain flexibility and customer relationship management practices emphasize negotiation as a key strategy in adapting to changing customer demands.
A supply manager is reviewing safety stock for a particular unit. The unit is small, Inexpensive, non-perishable, and easily stored, but is critical to the firm's manufacturing process. The following information is known about this unit:
Maximum lead time = 8 Days
Average lead time = 3 Days
Maximum daily usage = 6,000 Units
Average daily usage = 4,000 Units
What is the maximum safety stock that should be maintained for this unit?
The maximum safety stock is calculated using the formula: (Maximum lead time - Average lead time) x Maximum daily usage. This results in (8 - 3) x 6,000 = 30,000 units. Adding the average usage during average lead time (3 days x 4,000 units = 12,000 units) gives a total of 36,000 units for safety stock. Reference: Safety stock calculations help in managing inventory to prevent stockouts during lead time variations.
When identifying complex market conditions affecting product or service demand factors, which of the following methods is typically MOST useful?
Causal modeling is typically the most useful method for identifying complex market conditions affecting product or service demand factors. This method examines the relationships between variables, allowing businesses to understand how different factors influence demand. It provides deeper insights into cause-and-effect relationships than methods like time series analysis or moving averages. Reference: Advanced forecasting techniques in supply chain management.
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