$1.$Market value refers to:

a$.$Achieving the lowest cost for reasonable product quality

b$.$Adding value by customizing products and providing value$-$added services c$.$Presenting an attractive assortment of products with variety

d$.$All of the above

$2.$Due to the large number of orders that Amazon receives during the Black Friday and Cyber Monday sales in November, Amazon decided to increase promotions in October $2021.$ Which of these demand management strategies is Amazon implementing?

a$.$Provide

b$.$Match

c$.$Influence

d$.$Control

$3.$Which of the following production processes are appropriate for high volumes of standardized goods?

a$.$Line flow process

b$.$Batch process

c$.$Job shop process

d$.$Both A & B

$4.$Suppose a firm relies on company forecasts to decide how many units to produce. Depending on the forecast, the firm buys material and components. They produce finished goods based on the forecasted demand and send their products to the retailers. What model are they following?

a$.$Push model

b$.$Pull model

c$.$Responsive model

d$.$Both A and C

$5.$When we want to achieve customer satisfaction, we should

a$.$Identify customer's needs so that we can provide value$-$added services. b$.$Identify customer's expectations so that we can meet their expectations. c$.$Identify the CEO's expectation so that we can satisfy customers according to the CEO's directions.

d$.$Identify customer's needs and provide the fastest shipping possible.

$36.$Under the total cost of logistics model, we would like to:

a$.$Minimize the individual costs incurred by the functions responsible for order processing, inventory, transportation, warehousing$/$materials handling, and the facility network.

b$.$Minimize the individual costs incurred by the functions responsible for inventory, transportation, out$-$source contract management, finance, and marketing.

c$.$Minimize the total cost of order processing, inventory, transportation, warehousing$/$materials handling, and the facility network.

d$.$Minimize the total cost of inventory, transportation, out$-$source contract management, finance, and marketing.

$7.$Which of these statements is true regarding the item fill rate and the line fill rate?

a$.$The item fill rate is always greater than the line fill rate.

b$.$The line fill rate is always greater than the item fill rate.

c$.$The item fill rate is the same as the line fill rate.

d$.$There is no rule about which value has to be bigger.

$8.$Which of the following statement about using MSE to measure the error of a demand forecast is true?

a$.$A big error of $+10$ has a greater impact than ten small errors of $+1.$

b$.$An error of $+1$ and $-1$ will cancel each other out and have a net effect of $0.$

c$.$The relative size of the error is important: an error of $+1$ on demand of $10$ has a greater impact than an error of $+1$ on demand of $100.$

d$.$None of the above.

$9.$When we consider supply and demand, discrepancy in space refers to

a$.$A difference in the time of production and the time when customers need the product.

b$.$A difference in the location of production and the location of the customers. c$.$A difference in the amount of production and the amount needed by customers.

d$.$A difference in the size of the producer's inventory space and the customer's storage $($inventory$)$ space.

$10.$One objective of logistics is to achieve shipment consolidation, which can be done via zone$-$ skipping. What does zone$-$skipping refer to$?$

a$.$Avoid shipping to certain locations, or zones, because the cost is too high. b$.$Avoid shipping to certain locations, or zones, unless customers in the area places a large group order.

c$.$Group small shipments based on their destination zone as one large shipment to a local store. Customers visit the local store to pick up their packages. d$.$Group small shipments based on their destination zone as one large shipment to a local distribution center. Only split out the shipments for last$-$mile delivery.

$11.$Which of the following is true about Sales and Operations Planning?

a$.$Sales and marketing need to be involved in the process because they are the most knowledgeable about our production capacity and logistical limitations$.$ b$.$Finance needs to be involved because they will determine our financial targets. c$.$Operations need to be involved because they will determine promotions.

d$.$All of the above.

$12.$Which of these processes are appropriate if our products are manufactured using a make$-$to$-$ order strategy?

a$.$Batch process

b$.$Job shop process

c$.$Both A & B

d$.$None of the above

$13.$Which of the following statements do NOT describe lean manufacturing? a$.$Producing only the products that customers want

b$.$Producing goods with perfect quality

c$.$Avoiding wastage in production

d$.$Adding customization that customers requested

$14.$Which of the following activities is a part of inbound logistics$?$

a$.$Purchasing and receiving materials

b$.$Order processing

c$.$Customer service

d$.$Both B & C

$15.$When forecasting demand, which of the follow