Supply Chain Management Flashcards
6 cards from real Manufacturing and Production practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Supply Chain Management flashcards as text
Which of the following best describes 'demand forecasting'?
Answer: Using historical data and analytics to predict future customer demand
Demand forecasting uses statistical models and market data to estimate future product demand and guide supply chain decisions.
What is the purpose of a master production schedule (MPS)?
Answer: Specify what products to make, in what quantities, and when over a planning horizon
The MPS translates demand forecasts and orders into a detailed production plan that drives MRP calculations.
Reshoring in US manufacturing refers to:
Answer: Bringing manufacturing operations back to the United States from overseas
Reshoring describes the trend of US companies returning manufacturing previously offshored to countries like China back to domestic facilities.
What does the term 'single-source supplier' mean?
Answer: Only one supplier is used for a specific component or material
Single-sourcing means relying on one supplier for a specific input, creating a risk if that supplier experiences disruptions.
In manufacturing supply chains, 'Total Cost of Ownership' (TCO) considers:
Answer: All costs associated with acquiring, using, and disposing of an item over its lifetime
TCO encompasses purchase price plus all downstream costs including logistics, quality, maintenance, and disposal.
What is cross-docking in logistics?
Answer: Transferring products directly from inbound to outbound transport with minimal storage time
Cross-docking minimizes warehouse storage by moving goods directly from receiving docks to outbound shipping docks.