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APICS CSCP Practice Test - Questions Answers, Page 39
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Question 381
A methodology in which inventory is increasingly likely to be placed on consignment instead of being sold first to the retailer and then to the end customer is known as:
Explanation:
Vendor-managed inventory (VMI) is a supply chain practice where the supplier (vendor) assumes responsibility for managing inventory levels for the retailer or customer. Under this system, inventory is typically placed on consignment, meaning it remains the property of the supplier until it is sold to the end customer. This approach helps in reducing inventory holding costs for the retailer, improving inventory turnover, and ensuring better availability of products. VMI relies on real-time data sharing between the supplier and the retailer to maintain optimal inventory levels and replenish stock as needed.
Reference:
APICS Dictionary
'Supply Chain Management: Processes, Partnerships, Performance' by Douglas M. Lambert
Question 382
Which of the following tools would help a team of operators to prioritize causes of equipment failures?
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Question 383
Which of the following statements regarding ANSI Z.10 occupational satisfy and health standards is correct?
Question 384
Which of the following reasons it often why many companies fail ' to achieve the implementation benefits of reverse logistics?
Question 385
A company that has documented the current state of return processes most appropriately would next:
Question 386
A company that is effectively managing its cash will have which of the following conditions?
Question 387
Which of the following tools has improved management of the customer pipeline?
Question 388
Improving fill rate is an objective related to which of the following perspectives of a balanced scorecard?
Question 389
Which of the following costs is an example of carrying cost?
Question 390
Supply chain disruption avoidance measures typically are based on distinguishing:
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