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Group No. 8 Topic: Inventory Management, demand forecasting & order fulfillment.
Scale
1 Strongly Disagree 2 Disagree 3 Neither disagree nor agree 4 Agree
Strongly Agree
Forecast performance Average inter-order interval Forecast horizon (time lead) Order size Demand variability
2. If the interval between the two orders is comparatively large, it will improve the forecasting of demand?
1 2 3 4 5
2. Selecting the best periodic inventory control and demand forecasting methods for low demand items
(B Sani and BG Kingsman) o o o Annual inventory cost Shortage penalty cost Inventory holding cost Ordering cost Customer service level
Questions: 1. Service level is more improved when there is large stock of inventory?
1 2 3 4 5
2. If the vendor is in short of a particular item, it would affect the demand in customer market?
1 2 3 4 5
Questions: 1. If organizational structure would have been changed to independent business units, how it would affect the market demand of a particular product?
1 2 3 4 5
3. Inventory holding cost is sharply reduced when the production rate is high?
1 2 3 4 5
5. Separate business units along with independent inventory management can generate more returns in terms of profits?
1 2 3 4 5
Questions: 1. Order fulfillment is a function of logistics or it is a process of supply chain in the organization?
1 2 3 4 5
3. Multiple sets of customer requirements and specifications can lead to increase cost and lead time for fulfilling the orders?
1 2 3 4 5
4. Efficient supply chain design can increase cost and inventory levels?
1 2 3 4 5
o Statistical inventory control (SIC) o Base stock control (BSC) o Materials and distribution requirements planning (MRP/DRP) o Line requirements planning (LRP) Questions: 1. Is networked inventory a good way to manage differentiated needs of customers?
1 2 3 4 5
2. If the forecasted demand meets some errors, it will make information flow weaker throughout the supply chain?
1 2 3 4 5
3. Material and distribution requirements are dependent on integration of information and inventory?
1 2 3 4 5
5. Uncertainty can be lowered down and supply chain can be more efficient if an integrated decision system is applied?
1 2 3 4 5
6. Networked inventory management system can provide greater product variety and more customer satisfaction?
1 2 3 4 5
Questions: 1. Inventory holding cost goes up when ordering and setup cost is decreased down?
1 2 3 4 5
3. When the supply is reduced down, ordering cost is also decreased and inventory turnover is increased?
2. When historical data are available to forecast a demand pattern, it will lead to more forecasting errors?
1 2 3 4 5
3. The best way to improve forecast accuracy is to focus on reducing forecast error?
1 2 3 4 5