2022年供应链管理第三版习题与答案2

1、Chapter 6 Network Design in an Uncertain EnvironmentTrue/False 1. Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and whether to build or lease wareho

2、use space, cannot be altered in the short term. Answer: True Difficulty: Moderate 2. 3. 4. 5. 6. Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and w

3、hether to build or lease warehouse space, rarely remain in place for several years. Answer: False Difficulty: Moderate Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to pu

4、rchase or lease, and whether to build or lease warehouse space, define the boundaries within which the supply chain must compete. Answer: True Difficulty: Moderate Long-term contracts for both warehousing and transportation requirements will be more effective if the demand and price of warehousing d

5、o not change in the future or if the price of warehousing goes up. Answer: True Difficulty: Easy Long-term contracts for both warehousing and transportation requirements will be more effective if either demand or the price of warehousing drops in the future. Answer: False Difficulty: Moderate The de

6、gree of demand and price uncertainty has a significant influence on the appropriate portfolio of long- and short-term warehousing space that a firm should carry. Answer: True Difficulty: Easy 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. If price and demand vary over time in a global network, flexible pr

7、oduction capacity can be reconfigured to maximize profits in the new environment. Answer: True Difficulty: Moderate A firm may choose to build a flexible global supply chain even in the presence of little demand or supply uncertainty if certainty exists in exchange rates or prices. Answer: False Dif

8、ficulty: Moderate The present value of a stream of cash flows is what that stream is worth in today s dollars.Answer: True Difficulty: Easy Discretionary cash flow (DCF) analysis evaluates the present value of any stream of future cash flows and allows management to compare two streams of cash flows

9、 in terms of their financial value. Answer: False Difficulty: Easy The present value of future cash flows is found by using a discount factor. Answer: True Difficulty: Moderate The rate of return k is also referred to as the present value of capital. Answer: False Difficulty: Easy A negative NPV for

10、 an option indicates that the option will lose money for the supply chain. Answer: True Difficulty: Moderate The decision with the lowest NPV will provide a supply chain with the highest financial return. Answer: False Difficulty: Moderate In reality, demand and prices are highly uncertain and are l

11、ikely to fluctuate during the life of any supply chain decision. Answer: True Difficulty: Moderate For a global supply chain, exchange rates and inflation are unlikely to vary over time in different locations. Answer: False Difficulty: Easy The multiplicative binomial cannot take on negative values

12、and can be used for factors like demand, price, and exchange rates that cannot become negative. Answer: True Difficulty: Moderate 18. 19. 20. 21. 22. 23. 24. 25. 26. A logical objection to both the multiplicative and additive binomial is the fact that the underlying factor takes on two values at the

13、 end of each period. Answer: False Difficulty: Hard If uncertainty is ignored, a manager will always sign long-term contracts because they are typically cheaper and avoid all flexible capacity because it is more expensive. Answer: True Difficulty: Moderate During network design, managers need a meth

14、odology that allows them to estimate the certainty in their forecast of demand and price and then incorporate this certainty into the decision-making process. Answer: False Difficulty: Hard Decision trees with DCFs can be used to evaluate supply chain design decisions given uncertainty in prices, de

15、mand, exchange rates, and inflation. Answer: True Difficulty: Moderate Uncertainty in demand and economic factors should not be included in the financial evaluation of supply chain design decisions. Answer: False Difficulty: Hard In a complex decision tree, there are thousands of possible paths that

16、 may result from the first period to the last. Answer: True Difficulty: Easy Simulation methods are very good at evaluating a decision where the path itself is decision dependent. Answer: False Difficulty: Hard Simulation models require a higher setup cost to start and operate compared to decision t

17、ree tools. Answer: True Difficulty: Easy The main advantage of simulation models is that they can provide low-cost evaluations of complex situations. Answer: False Difficulty: Moderate 27. 28. 29. 30. Strategic planning and financial planning should be combined during supply chain network design. An

18、swer: True Difficulty: Moderate The evaluation of supply chain networks should not use multiple metrics. Answer: False Difficulty: Moderate Financial analysis should be used as an input to decision making, not as the decision-making process. Answer: True Difficulty: Moderate One of the best ways to

19、speed up the process of financial analysis and arrive at a good decision is to use estimates, except when it appears that finding a very accurate input would take an inordinate amount of time. Answer: False Difficulty: Easy Multiple Choice 1. 2. 3. Decisions made during the supply chain design phase

20、 regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and whether to build or lease warehouse space, a. can be altered in the short term. b. cannot be altered in the short term. c. cannot be altered in the l

21、ong term. d. can only be altered in the short term. e. all of the above Answer: b Difficulty: Easy Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and

22、 whether to build or lease warehouse space, a. are realigned every few weeks. b. only remain in place for several years. c. rarely remain in place for several years. d. only remain in place for a few weeks. e. often remain in place for several years. Answer: e Difficulty: Hard Decisions made during

23、the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, 4. 5. 6. 7. the number of trucks to purchase or lease, and whether to build or lease warehouse space, a. define the boundaries within which the supply chain must compe

24、te. b. have little impact on how the supply chain must compete. c. are irrelevant regarding how the supply chain will compete. d. are the only consideration regarding how the supply chain will compete. e. none of the above Answer: a Difficulty: Moderate Long-term contracts for both warehousing and t

25、ransportation requirements will be more effective if a. the demand and price of warehousing do not change in the future. b. the price of warehousing goes up in the future. c. d. demand drops in the future. the price of warehousing drops in the future. e. a and b only Answer: e Difficulty: Moderate S

26、hort-term contracts for both warehousing and transportation requirements will be more effective a. if the demand and price of warehousing do not change in the future. b. if the price of warehousing goes up in the future. c. if either demand or the price of warehousing drops in the future. d. only if

27、 demand drops in the future. e. only if the price of warehousing drops in the future. Answer: c Difficulty: Moderate The degree of demand and price uncertainty has a. no effect on the appropriate portfolio of long- and short-term warehousing space that a firm should carry. b. a limited influence on

28、the appropriate portfolio of long- and short-term warehousing space that a firm should carry. c. a minor influence on the appropriate portfolio of long- and short-term warehousing space that a firm should carry. d. a significant influence on the appropriate portfolio of long- and short-term warehous

29、ing space that a firm should carry. e. None of the above are true. Answer: d Difficulty: Moderate Uncertainty of demand and price a. drives the value of building flexible production capacity at a plant. b. eliminates the value of building flexible production capacity at a plant. c. facilitates the v

30、alue of building flexible production capacity at a plant. d. has no effect on the value of building flexible production capacity at a plant. e. None of the above are true. Answer: a Difficulty: Moderate 8. 9. 10. 11. 12. If price and demand do vary over time in a global network, a. flexible producti

31、on capacity should not be used in the new environment. b. flexible production capacity will be ineffective in the new environment. c. flexible production capacity can be reconfigured to minimize profits in the new environment. d. flexible production capacity can be reconfigured to maximize profits i

32、n the new environment. e. flexible production capacity should never be used in an uncertain environment. Answer: d Difficulty: Moderate A firm may choose to build a flexible global supply chain even in the presence of little demand or supply uncertainty if a. certainty exists in both exchange rates

33、and prices. b. certainty exists in exchange rates or prices. c. uncertainty exists in both exchange rates and prices. d. uncertainty exists in exchange rates or prices. e. uncertainty exists only in exchange rates. Answer: d Difficulty: Moderate The present value of a future stream of cash flows is

34、what that stream a. was worth in yesterdays dollars.b. is wo rth in todays dollars.c. will be worth in future dollars. d. might be worth in future dollars. e. none of the above Answer: b Difficulty: Easy The process of evaluating the present value of any stream of future cash flows so that managemen

35、t can compare two streams of cash flows in terms of their financial value is a. annual cash flow(ACF) analysis. b. discretionary cash flow(DCF) analysis. c. discounted cash flow(DCF) analysis. d. future cash flow(FCF) analysis. e. none of the above Answer: c Difficulty: Moderate The present value of

36、 future cash flow is found by a. locating the correct factor on a z-table. b. using a discount factor. c. plotting the function on a graph. d. adding the total of all future cash flows. e. none of the above Answer: b Difficulty: Moderate 13. 14. 15. 16. 17. The discount factor used to obtain the pre

37、sent value of money in the next period where k represents the rate of return is a. k. b. 1+k. c. 1/(1+ k). d. k /(1+ k). e. none of the above Answer: c Difficulty: Moderate The rate of return k is also referred to as the a. discount rate. b. c. hurdle rate. opportunity cost of capital. d. all of the

38、 above e. none of the above Answer: d Difficulty: Easy What is the present value of a $27 revenue that will be received in one year where the rate of return is 8% (.08)? a. $2.50 b. $15.00 c. $25.00 d. $30.00 e. none of the above Answer: c Difficulty: Easy The net present value (NPV) of a stream of

39、cash flows is equal to a. the sum of all cash flows for all periods being considered. b. the sum of all cash flows for all periods being considered divided by the number of periods. c. the average of all cash flows for all periods being considered. d. the average of all cash flows for all periods be

40、ing considered multiplied by the number of periods. e. the sum of all cash flows for all periods being considered discounted by the rate of return for each period. Answer: e Difficulty: Hard A negative NPV (net present value) for an option indicates that the option will a. gain money for the supply

41、chain. b. lose money for the supply chain. c. maximize profit for the supply chain. d. minimize profit for the supply chain. e. none of the above Answer: b Difficulty: Moderate 18. 19. 20. 21. 22. The decision with the highest NPV (net present value) will provide a supply chain with a. the highest f

42、inancial return. b. the lowest financial return. c. a reasonable financial return. d. the least desirable financial return. e. none of the above Answer: a Difficulty: Moderate The NPV (net present value) of a cash stream that is equal to $100 per period for 5 periods with a rate of return of 10% (.1

43、0) per period would be a. 379.07. b. c. 416.98. 500.00. d. 610.51. e. 671.56. Answer: b Difficulty: Moderate The NPV (net present value) of a cash stream that is equal to $75 per period for 5 periods with a rate of return of 10% (.10) per period would be a. 221.37. b. 284.30. c. 312.74. d. 375.00. e

44、. none of the above Answer: c Difficulty: Moderate In reality, demand and prices are a. highly certain and not likely to fluctuate during the life of any supply chain decision. b. highly certain and likely to fluctuate during the life of any supply chain decision. c. highly uncertain and not likely

45、to fluctuate during the life of any supply chain decision. d. highly uncertain and likely to fluctuate during the life of any supply chain decision. e. none of the above Answer: d Difficulty: Moderate For a global supply chain, exchange rates and inflation are a. likely to vary over time in differen

46、t locations. b. not likely to vary over time in different locations. c. not likely to vary over time in any locations. d. likely to be stable over time in all locations. e. none of the above Answer: a Difficulty: Easy 23. 24. 25. 26. 27. The binomial representation of uncertainty is based on the ass

47、umption that when moving from one period to the next, the value of the underlying factor (such as demand or price) a. has only one possible outcome. b. has only two possible outcomes - up or down. c. has many possible outcomes. d. cannot be accurately determined. e. none of the above Answer: b Diffi

48、culty: Moderate In the commonly used multiplicative binomial, it is assumed that the underlying factor a. moves up by a factor u 1 with probability p. b. moves down by a factor u 1 with probability p. c. moves down by a factor d 1 with probability p, or down by a factor d 1 with probability 1 p. In

49、the additive binomial, it is assumed that the underlying factor increases by u in a given period with probability p and decreases by d with probability 1 p. The multiplicative binomial cannot take on negative values and can be used for factors like demand, price, and exchange rates that cannot becom

50、e negative. It also has the advantage of the growth or decline in the given factor being proportional to the current value of the factor and not fixed independent of size. A logical objection to both the multiplicative and additive binomial is the fact that the underlying factor takes on only one of

51、 two possible values at the end of each period. Certainly a price can change to more than just two values. But by making the period short enough, this assumption may be justified. Difficulty: Hard Summarize the steps in the decision tree analysis methodology. Answer: The decision tree analysis metho

52、dology is summarized as follows: 1. Identify the duration of each period (month, quarter, etc.) and the number of periods T over which the decision is to be evaluated. 2. Identify factors such as demand, price, and exchange rate, whose fluctuation will be considered over the next T periods. 3. 3. Id

53、entify representations of uncertainty for each factor; that is, determine what s distribution to use to model the uncertainty. 4. Identify the periodic discount rate k for each period. 5. Represent the decision tree with defined states in each period, as well as the transition probabilities between

54、states in successive periods. 6. Starting at period T, work back to Period 0, identifying the optimal decision and the expected cash flows at each step. Expected cash flows at each step in a given period should be discounted back when included in the previous period. Difficulty: Moderate Discuss the

55、 ideas that managers should consider to make better supply chain network design decisions under uncertainty. Answer: Managers should consider the following ideas to help them make better network design decisions under uncertainty: 1. Combine strategic planning and financial planning during network d

56、esign. In most organizations, financial planning and strategic planning are performed independently. Strategic planning tries to prepare for future uncertainties but often without rigorous quantitative analysis, whereas financial planning performs quantitative analysis but assumes a predictable or w

57、ell-defined future. Decision makers should design supply chain networks considering a portfolio of strategic options the option to wait, build excess capacity, build flexible capacity, sign long-term contracts, purchase from the spot market, and so forth. The various options should be evaluated in t

58、he context of future uncertainty. 2. Use multiple metrics to evaluate supply chain networks. As one metric can only give part of the picture, it is beneficial to examine network design decisions using multiple metrics such as firm profits, supply chain profits, customer service levels, and response

59、times. Often, different metrics will recommend different decisions and by using multiple metrics, the differences between the strategic choices will become clearer. The best decisions can be made when a multitude of metrics are available, because each metric enhances the overall view of the alternat

60、ives being considered. 3. Use financial analysis as an input to decision making, not as the decision-making process. Financial analysis is a great tool in the decision-making process, as it often produces an answer and an abundance of quantitative data to back up that answer. However appealing this