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Chapter 4: 10OQ (page 441)

Question: What supply chain metric measures how many complete orders were filled and shipped on time?

Short Answer

Expert verified

Answer

Perfect order fulfillment is a supply chain metric that measures how many complete orders were filled and shipped on time.

Step by step solution

01

Supply Chain Metric

Step 1: Supply Chain Metric

Measurements or metrics used to trackSupply Chain performance include Inventory Turns, Cycle Time, DPMO, and Fill Rate. Metrics, which are commonly used in Supply Chain Management, may help you understand how your firm is performing over time. Procurement, production, distribution, warehousing, inventory, transportation, and customer service are just a few of the aspects that may be measured in the supply chain.

A strong performance is one section of the Supply Chain, however, is insufficient. Only as powerful as its weakest link in your supply chain. The idea is to concentrate on the most important indicators in each area.

02

Measures of Supply chain metric

Step 2: Measures of Supply chain metric

  1. Tracking your metrics helps you to see how your Supply Chain is doing overtime and guides how to improve it. It enables management to spot potential issues. It also enables industry benchmarking and comparisons with other businesses.
  1. Some indicators, such as Inventory Turns, have a well-defined meaning. Backorders, for example, may need to be tailored to your specific sector or logistics business strategy.
  1. Measuring things isn't going to solve your problems! The answer can be found in the remedial steps you take to enhance the metric. Process or system enhancements provide the answer. The measures should be used to keep track of the progress you've made.
  1. There should be ametric for measuring supply chain performance.

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Most popular questions from this chapter

The number of cases of merlot wine sold by the Connor Owen winery in eight years is as follows:

Using an exponential smoothing model with an alpha value of 0.20, estimate the smoothed value calculated as of the end of 2012. Use the average demand for 2005 through 2007 as your initial forecast, and then smooth the forecast forward to 2012.

Question: After using your forecasting model for six months, you decide to test it using MAD and a tracking signal. Here are the forecast and actual demands for the six months;

Period

Forecast

Actual

May

450

500

June

500

550

July

550

400

August

600

500

September

650

675

October

700

600

a. Find the tracking signal.

b. Decide whether your forecasting routine is acceptable.

Gentle Ben鈥檚 Bar and Restaurant uses 5,000-quart bottles of imported wine each year. The effervescent wine costs \(3 per bottle and is served only in whole bottles because it loses its bubbles quickly. Ben FIgures that it costs \)10 each time an order is placed, and holding costs are 20 percent of the purchase price. It takes three weeks for an order to arrive. Weekly demand is 100 bottles (closed two weeks per year) with a standard deviation of 30 bottles. Ben would like to use an inventory system that minimizes inventory cost and will provide a 95 percent service probability.

a. What is the economic quantity for Ben to order?

b. At what inventory level should he place an order?

Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year.

Item cost
\(10.00
The standard deviation of weekly demand
25 per week
Order cost
\)250.00
Lead time
1 week
Annual holding cost (%)
\(33% of the item cost
Service probability
95%
Annual demand
25,750

Average demand
515 per week

a. State the order quantity and reorder point.

b. Determine the annual holding and order costs.

c. If a price break of \)50 per order was offered for purchase quantities of over 2,000, would you take advantage of it? How much would you save annually?

ERP systems from different vendors vary quite a bit, but typically they will focus on at least what four major areas?
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