Cpim exam 1 stuvia Study guides, Revision notes & Summaries

Line Haul Cost - Answer The cost to operate the vehicle, whether it is half empty or full, is the same basic cost. What does alter is the distance that is traveled. Terminal Handling - Answer The cost of handling a shipment several times. When full loads are shipped there is no extra handling thus no extra cost. The shipment can go direct to the required destination. Supplier - Answer A company from which you purchase parts or material Customer - Answer The person or organization that r...

ABC classification - Answer Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume items (C class) than the higher dollar...

The ability of a company to address the needs of and inquiries and requests from customers refers to: on-time delivery. customer service. order fill rates. customer relationship management. - Answer customer service.: Customer service is the ability of a company to address the needs of and inquiries and requests from customers. Which of the following is included in the cost of goods sold? Standard cost General and administrative expenses Revenue Overhead - Answer Overhead: The cost of...

strategic plan - Answer examines "how to marshal and determine actions to support the mission, goals, and objectives of an organization business plan - Answer a statement of long range strategy and revenue, cost, and profit objectives usually accompanied by budgets, a projected balance sheet, and a cash flow (source and application of funds) statement manufacturing planning hierarchy - Answer SMR, MPR, DSP, ECO competitive advantage - Answer the advantage a company has over its rivals ...

Supply Chain Management - Answer The design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally Value Chain Analysis - Answer An examination of all links a company uses to produce and deliver its products and services, starting from the origination point and continuing through delivery to the ...

Which of the following tools is considered an important quality management tool? - Answer Control Chart. The primary use of control charts is to detect assignable causes of variation in a process. In a bill of material, the path that adds up to the greatest number of lead time periods defines the: - Answer Cumulative lead time; cumulative lead time for an items consists of the longest lead time path for a given bill of material. Delivery and demand lead times are subsets of cumulative lead ti...

Inventory is the ____ of Supply Chain - Answer life blood Inventory Turns equation - Answer Annual COGS/ Avrg inventory $ Matrix structure - Answer you can have more than one boss, one product group, Team members come from different teams are also members of the product management office Centralized corp structure - Answer decisions are made at the top Appropriate response to risk (4 Parts) - Answer 1. Try to avoid risk 2. Risk acceptance 3. Risk transfer 4. Risk mitigation Imp...

How does enterprise resources planning (ERP) differ from manufacturing resource planning? - Answer ERP does not dwell on manufacturing alone. After an order is released, it turns out that not all of the resources needed are available. What will happen next? - Answer There will be idle capacity at some work centers unless rescheduled. Which of the following are manufacturing order pick lists most likely to exclude? - Answer Floor stock materials issued to the department A shop order pack...

Planned Backlog - Answer Previous Planned Backlog + Planned Input - Planned Output Actual Backlog - Answer Previous Actual Backlog + Actual Input - Actual Output Throughput Formula - Answer Revenues Received - Variable Costs/ Units of Time Period New Safety Stock - Answer Old Safety Stock x √New Lead Time/Old Lead Time Demand During Lead Time - Answer Units per Period x Lead Time Takt Time - Answer Available Production Time/Rate of Customer Demand Cycle Time Formula - Answer ...