MODEL QUESTION PAPER

SUBJECT CODE : ML0010 SUBJECT : Warehouse and Supply chain Management

SECTION A 1. ________________________ is a component of materials management a. Distribution planning b. Materials handling c. Requirements planning d. Order processing

2. ______________________ is a component of physical distribution a. Transportation b. Warehousing c. Industrial packaging d. Delay Reduction in Distribution

3. Reducing Logistics Cost is a _______________________ a. Part of logistics b. one of the stages of SCM c. need of supply chain management d. Part of materials management

4. ____________________________ is a method of measuring globalization a. Technological forces b. Goods and Services: Exports plus imports in proportion of national income c. Global Cost Forces d. Global Market Forces

5. Which among the following is a component of global cost forces? a. Sectoral Integration b. Labor c. Political and Macroeconomic forces d. Production cost

6. _______________________ is an effect of global competitiveness a. Outsourcing b. Risk Management c. Geographical Integration d. Mass Production Management

7. What among following is a management process? a. SCOR b. APQC c. Process classification Framework d. Deliver

8.

______________________________ is a dimension of supply chain

a. Identify economic trends b. Understand demographics c. Process and delivery timing d. Assess new technology innovations

9. How many management process SCOR focuses on: a. Two b. Three c. Four d. Five

10. ______________ yields consistent results. a. Forecasting b. Collaboration c. Supply chain synchronization d. Communication

11. Reasons for delay of orders may be due to __________. a. Delayed inspections b. Faulty forecasts c. Labour Issues d. Quality Checks

12. Fixed or regular supply chains are good as there is an element of ____________ and reliability in the same. a. Discomfort b. Faulty forecasts c. Labour Issues d. Comfort

13. Inventory is one of the most basic elements of _____________. a. Supply chain b. Forecasting c. Planning d. Demand

14. There is seasonal, safety and cyclical ___________ which plays a part in the supply chain management. a. Supply b. Transportation c. Warehousing d. Inventory

15. Companies hold __________ inventory in order to meet unexpected changes in demand. a. Seasonal b. Cyclical c. Safety d. Lower

16. Logistics play such a vital role in the _____________ management. a. Supply chain b. Transportation c. Accounts d. Business

17. The flow of all information and processes involved in the production of goods and its consumption by the consumers is known as __________________ management. a. Transportation

b. Warehouse c. Logistics d. Product

18. When orders are _______________ then the economies of scale are very useful. a. Aggregated b. Individual c. Small d. Exclusive

19. ______________ is the process where the enterprise plans out its resources and helps in the tracking of all transactions and also increases the visibility of information in global terms. a. Enterprise resource planning b. Electronic data exchange c. Cycle inventory d. Rehabilitating

20. The __________________________ enables instant placing of purchase orders and as the orders are placed instantaneously they have a quick response time and the responsiveness is more effective. a. Pricing b. Asset management c. Electronic data exchange d. Supply chain

21. Factors such as ____________________ and business continuity needs to be considered before taking decisions in asset management. a. Economies of scale b. Strategy c. Pricing d. Risk management

22. The _____ of the product will happen during the time the stocks live. a. minimum utilization b. maximum utilization c. Under utilization

d. seasonal utilization

23. If the stock is refilled ____, the new stock remains idle leading to a backlog of the product. a. before supply dies b. after demand dies c. after the supply d. after order placed

24. The full form of SOP is _____ a. standard operating process b. standard operating procedures c. supply operating procedures d. sales operating procedures

25. _____ is to ensure availability and supply of stocks in demand a. Space Management b. Inventory Management c. Stock Management d. Supply Management

26. The full form of SBU is ___ a. standard business unit b. strategic binding unit

c. strategic block unit d. strategic business unit

27. The full form of TCO is _____ a. Total cost of order

b. Total cost of ownership c. Total cost of operation d. Total cost of optimization

28. ______ can be best described as a development of store level product attributes that comprise of a chain system a. Store planning b. Assortment planning

c. Cluster planning d. Retail planning

29. The last and the final step in the Assortment Planning process is _____ a. Item Information and Characteristics b. Procurement or purchasing the items c. Quantities and Flow d. Assortment Definition

30. During assortment definition, the _____ targets of various assortments are established and the numerical guidelines for the assortment plan are finalized. a. Demand & supply b. Merchandise c. Organizational d. Financial

31. Orders purchased for special promotions, new store openings etc. are called _______________. a. Special Orders b. Bulk

c. Replenishment d. Normal

32. _________________ represents relative risk ratio a. Yi b. Xi c. Bj d. maximum likelihood

33. Pareto Analysis is used to study: a. Collection of data b. Historical data c. Maximum likelihood d. Final report

34. US department store sales now exceed ____ a. 5000 Billion USD/ year

b. 500 Billion USD/ year c. 550 Billion USD/ year d. 510 Billion USD/ year

35. In case of seasonal merchandise, the markdown needs to be done keeping in mind _______ a. Seasonal stocks b. Profit margin

c. Loss percentage d. residual stocks

36. A single TMU is equal to______ a. 0.0001 hour b. 0.00001 hour c. 0.000001 hour d. 0.00011 hour

37. To locate the best suppliers ______ is required a. Telephone directory b. supplier database c. Warehouse d. Stock details 38. Farmers opting for Cash and carry retailing a. are unable to make profits b. are able to reach large markets c. are unable to carry out business comfortably d. are unable to reach large markets 39. Growth of rural Indian markets is driven by a. availability and opportunity

b. opportunity and distribution c. availability and distribution d. proposition and opportunity 40. Cash and carry retailers sell a. to customers and retailers

b. to customers only c. to customers or retailers d. to retailers only

SECTION B

41. Identify the components of Materials Management: A. Demand Forecast B. Purchasing C. Production planning D. Customer Service a. B, C & D b. A, B & C c. A, B & D d. A, B, C & D

42. The emergence of supply chain is a result of: A. Advances in technology B. Inventory management C. Materials handling D. Physical product distribution a. Only A b. B, C & D

43. Identify the types of retailing format in India: A. Malls B. Specialty Stores C. Discount Stores D. Grocery Stores a. A, B & C

b. B, C & D c. A, B, C & D d. A, C & D

44. Identify if the statements are True or False The reasons why many companies engage in global trade are: A. Reduce overall production costs B. Locate less expensive sources of raw materials, finished goods and even labor a. True, False b. False, False c. True, True d. False, True

45. Identify the statement True or False The main aspects of SOCR model of supply chain are: A. To set the functions of each of the participants of the supply chain and to highlight their contribution in the supply chain B. To ensure that all the participants and parties in the supply chain are well aware of their role in the supply chain a. A True, B true b. A False, B True c. A True, B False d. A False, B False

46. The uncertainty in the supply chain can be due to: A. Uncertain demand that is characteristic of materials management universally. B. The flow of materials that are a part of the supply chain and form an integral part of the supply chain. a. A False, B True b. A False, B False c. A True, B True d. A True, B False

47. Supply chain management is the process of management of ________and their __________. a. Producer, consumer

b. Transportation, final consumer c. Movement of goods, storage d. Manufacturer, distributor

48. Which of the following is not one of the evaluative parameters for monitoring risk in supply chain : a. Focus on innovating and improving demands b. Balancing demands c. Being realistic d. Improving lead time

49. The management of ___________ is one of the main aspects of supply chain management as it is also closely connected to ____________ management and a sound vendor management system. a. Customer, vendor b. Vendors, inventory c. Fashion, time d. Warehousing, time

50. Logistics is the flow of goods, _____________ and ____________ from the final producers to the final consumers. a. Services, information b. Raw material, warehousing c. Merchandise, data d. Data, order

51. _______________ form an integral part of the supply chain management and the sound management of logistics is an important aspect of the __________________ mechanism. a. Finance, supply chain b. Production, ordering c. Logistics, supply chain d. Logistics, ordering

52. _________management involves not only the management of the capital and physical assets of the company, but also the management of its ________________. a. Asset, back office system

b. Future, inventory c. Supply chain, transportation d. Investment, asset

53. _____ the product variety leads to more steps in replenishment which directly _____ the chances of more errors. a. Increasing, increases

b. Decreasing, decreases c. Decreasing, increases d. Increasing, decreases

54. According to Pareto rule 80% of the _____ is concentrated within 20% of the _____ a. Purchase value, products purchased. b. Products purchased, purchase value c. Sales, profit d. Purchase percentage, product value

55. Although, retailers have realized the importance of assortment planning, ____ of the same is picking gradually a. Analysis b. Review c. Execution d. Tracking

56. _________ and __________ status is considered before any stock related decision is made and new assortment combinations are planned or released. a. Sales forecast, lead time b. Optimum allocation quantities, case pack sizes c. Bulk order, delivery d. Vendor level, sales

57. IIA stands for _________________________. Relative risk is calculated by ____________________________. a. Independence of Irrelevant alternatives, Maximum likelihood b. Independent Inventory alternatives, Maximum likelihood c. Multi location inventory model, Historical data d. Multi nominal choice model, collection of data

58. Identify WMS functionalities from the following : A. Proposing B. Planning C. Pick and put away D. Inventory control a. B, C, D b. A, B, C c. D, A, B d. A, C, D

59. The cost of information is ______ due to the _____rate of technologies a. Increased, decreasing b. Decreased, increasing c. The same, increasing d. The same, decreasing

60. Identify the correct statements w.r.t cash & carry retailing A. Unorganized retailing B. merchandise available throughout the year C. Numerous layers in business D. The buyers get a better price

a. A, B b. B, D c. D,A d. A,C SECTION C 61. Match the following: Part A 1. If the transportation, storage, damage and expiry costs are not managed 2. Most of the organizations across the globe continuously look 3. Marketing function gauges the customers understanding 4. Most organizations today, whether operating at small or large scale

Part B A. for advanced automation systems that will help the organizations beat the challenges around final product delivery B. continuously trying their best to lower the operational costs; in other words, the product manufacturing costs C. .the cost of production becomes too high and in turn reduces revenue or profit margins D. .of total value package including the product value, response times, order sizes, order frequency, packaging requirements a. 1B, 2A, 3D, 4C b. b. 1C, 2A, 3B, 4D c. 1C, 2A, 3D, 4B d. 1D, 2A, 3C, 4B

62. Identify True and False Statements Statement 1:The task of the logistics operator is to ensure that the merchandise of saleable quality is manufactured and transported safely, within the planned costing budgets and with in delivery timelines. Statement 2: The logistics operator manages the inventory, pick orders, deliver export shipment to the end customer, checks quality on order arrival, relabels and repacks as required. Statement 3: Decreased capability of being able to provide cost effective transportation system via sea, road, air, rail etc. makes the global logistics operator accountable. Statement 4: In distribution management, the logistics operator is responsible for sourcing, delivery, packing and labeling, distribution merchandise in any country as per the requirements of the end customer a. Statement 1, 2 and 4 are true b. Statement 1, 3, and 4 are true c. Statement 2, 3, and 4 are true d. Statement 1 and 3 are true

63. Identify the appropriate statement: Customer needs and wants are determined by Statement 1: Qualitative and Quantitative assessments

Statement 2: Predicting customer demands Statement 3: Analyzing current lines offered by the organization and also isolating changes that can be made in the current line Statement 4: Discontinuing surveys a. Statement 1, 2 and 4 are true b. Statement 1, 2 and 3 are true c. Statement 2, 3 and 4 are true d. Statement 1, 3 and 4 are true 64. Match the followingPART A 1. These include the activities that are required to complete the goals. 2. The underlying social, financial and economic processes that are required to be in place to facilitate the activity and ensure speedy functioning & efficiency. 3. This is the process where the information is translated into action and the knowledge that has been gleaned earlier is utilized now. 4. This includes the knowledge that is derived from the application of the process. PART B A. Application B. Infrastructure C. Process D. Information a. 1C, 2B, 3A, 4D. b. 1D, 2C, 3B, 4A. c. 1A, 2D, 3C, 4B. d. 1B, 2A, 3D, 4C.

65. The implementations of VMI can be broken into three main categories: 1. Labor 2. Collaboration 3. Automation 4. Cost transference

a. 1, 2 & 3 b. 2, 3 & 4 c. 1, 2 & 4 d. 1, 3 & 4

66. Match the following1. By aggregating inbound and outbound_______________, a third party intermediary who aggregates storage and inventory can lead to surplus in the supply chain which will lead to lower cost of production and greater benefits. 2. By aggregating __________________ needs over many customers, the third party may increase supply chain surplus. 3. When _________________ is aggregated across many firms and the economies of scale associated with large scale procurement can be gained then the third party provider can add significantly to the supply chain surplus. 4. When____________ is aggregated through many firms then the associated economies of scale act and the intermediary or the logistics provider is able to add to the supply chain surplus A. Warehousing B. Information C. Transportation D. Procurement a. 1A, 2C, 3B, 4D. b. 1B, 2D, 3A, 4C. c. 1C, 2A, 3D, 4B d. 1D, 2B, 3C, 4A.

67. The best practices for assessing current state of assets and future management of assets include: 1. Deploying resources based on asset conditions. 2. Looking at lifecycle costs, especially for critical assets. 3. Analyzing the causes of asset failure to develop specific response plans. 4. Preparing an asset inventory and system map. a. 1, 2 & 3 b. 2, 3 & 4 c. 3 & 4 d. Only 4

68. Jane Heather is a retailer who is not up to mark in maintaining the inventory levels. What should she do to improve? A. when a product runs out of stock in the store, the staff need not verify the records B. when a product runs out of stock in the store, the product should be re-ordered C. when a product runs out of stock in the store, the staff can verify the records to cross check the recorded inventory level before ordering again D. The staff should thoroughly check the stores including the storage areas to make sure that the product is stocked out. a. A, B b. C, D c. B, C d. D, B

69. Match the following Part A 1. Category 2. Procurement 3. Corporate 4. Brand Part B A. To get by special effort; obtain or acquire B. A specifically defined division C. A distinctive name D. Formed into a corporation a. 1B, 2A, 3D, 4C b. 1A, 2B, 3C, 4D c. 1C, 2B, 3A, 4D d. 1D, 2C, 3B, 4A

70. Assortments are planned based on the clusters of locations with similar characteristics. Identify the characteristics

A. consumer preferences B. retailer's preferences C. display criteria D. space capacity a. A, B , C b. C, D , A c. B, C, D d. D, B, A

71. An item sells between 5 and 7 pieces each week throughout the year. One week in August saw increased sales of 25 pieces because of a single customer purchase. A 99.9% service level goal for the item would dictate keeping at least how many pieces in inventory? a. 5 b. 7 c. 25 d. 125 72. Fill in the blanks A. ______has been an outstanding success as an application of management science B. Choosing to offer the same ____ across all the stores, in a given region, may work unfavorably for the retailers C. For ______, the markdown is done primarily to increase revenue capture rate D. The only contributor to the less effectiveness of supply chain has been the ____ 1. Markdown 2. Retail clearance pricing 3. Poor demand forecasting 4. non seasonal merchandise a. A2, B4, C1, D3 b. A2, B1, C4, D3 c. A3, B2, C4, D1 d. A2, B3, C4, D1

73. David Shepherd is a retailer in the business for the last 5 years. He has appointed an inventory manager who is very hardworking. However, David is facing a challenge. Despite all efforts, his inventory data always seems to be incorrect. This

constantly has been leading to incorrect orders being placed. How could we help him? a. David should appoint a staff trained in inventory management b. David should invest in a WMS c. David should invest in a FIFO d. David should opt for the push process

74. Andrew Brown's father Mark brown was a retailer 25 years ago. Mark had to face problems like incorrect decisions taken, friction with the manufacturers etc as they had an upper hand. These things have disillusioned Andrew who doesn't want to pursue retailing. What is your advice to Andrew. A. Retailers have a say in the manufacture process B. There has been a shift in power over to retailers from manufacturers C. Retailers have information access to aid better decision making D. Retailers have risen to the position of prominence through technologies a. A, B , C b. C, D , A c. B, C, D d. D, B, A 75. Match the following store type with the correct category Strategy Part A 1. Rural Retailing 2. Airport Retailing 3. Jeweler shops 4. Restaurants Part B A. Product retailers B. Service retailers C. High store rent D. Low cost brand a. 1B, 2A, 3D, 4C b. 1D, 2C, 3A, 4B c. 1C, 2B, 3A, 4D d. 1A, 2D, 3C, 4B