My learning journey in Supply Chain Comprehensive Exam
Taking a comprehensive exam covering all the key concepts from supply chain analytics, supply chain dynamics, supply chain fundamentals, supply chain technology and systems, and supply chain design was a challenging yet rewarding experience. It allowed me to bring together all the knowledge and skills I had acquired throughout the different courses and put them to the test.
In preparation for the exam, I reviewed my notes from each of the courses and identified the key concepts and techniques that were most important. I also worked through practice problems and quizzes to assess my understanding of the material.
During the exam, I was presented with a variety of scenarios and questions that required me to apply my knowledge from multiple courses to solve supply chain problems. The exam tested my ability to analyze data, design efficient supply chain networks, manage inventory, mitigate risks, and incorporate technology and systems into supply chain operations.
One of the key takeaways from this comprehensive exam was the importance of a holistic approach to supply chain management. Each course provided a unique perspective on supply chain operations, and it was essential to understand how they all fit together. For example, the knowledge of supply chain dynamics helped me understand how supply chain disruptions could affect network optimization and inventory management. Similarly, the skills acquired in supply chain analytics enabled me to identify patterns and trends in the data that could be used to inform supply chain design decisions.
I found some problems quite interesting:
You have been hited as the inventory manager of a department store company in
US. Your first task is to set a continuous (S, Q) policy for the luxury handbag
Texas 108. It has a cost of 120$ /item. The annual demand appears to be
relatively stable at 245 items/year. The forecast error or RMSE for this product
is 98 item/year. You can assume that this error is normally distributed around
the mean. The annual holding rate is estimated at 20%. The estimated
administrative cost to manage each new order for this product is $600. From the
moment an order is place, it takes 4 weeks to receive the luxury handbags from
For simplicity, assume that there are 4 weeks in a month, 12 months in a
year, and 48 weeks per year. Maintain this assumption through the whole
What would be the parameters of the optimal (S,Q) policy to provide a CSL of
After gaining your MicroMasters in SCM credential, you finally get your dream
job in England as Procurement Manager at PickHero, the musical instruments
seller preferred by all your favority bands. You oversee their most demand
digital piano model name ‘Lucy 49’ and need to define the supplier to source it
from, at the lowest total cost, for the next year.
Your manufacturers are in New York and once you purchase them, you take
ownership of the digital piano, being responsible for the logistics from the port
of New York, to the port of Tilbury in London. Your team provide you the
following data on the usual carrier:
• PickHero purchanses the digital pianos in batches of 50(Q), PickHero pays
$25000 for each piano
• The Carrier charges you $1165 for shipping each batch (Ct).
• Lead time from New York to Lpndon: 40 days.
• The daily demand of this product in England is normally distributed, of 13
digital pianos with a standard deviation of 3.
• Assume a CSL of 96% and a holding charge of 20% on annual basis.
• Consider 350 days in a year all through this question.
• PickHero policy is to NOT include the cost of transportation in product
cost when calculating inventory cost, so you shouldn’t include transport
costs as part of the value “c” when calculating inventory cost.
• Do not round intermediate steps in your calculations. You should only
round your answers as requested in each question.
What is the annual pipeline inventory cost forthis product?
Yerbar Inc. manufactures and distributes baby food in the US. Traditionally, the
company ships their products directly from 3 manufacturing facilities to 30
markets all over the country. Similarly, raw materials are shipped from 20
different suppliers to the manufacturing plants. The same is dipicted in the
Before making thefinal decision, you are asked to modify the existing
mathematic model (suppliers->manufacturing plants->markets) to reflect the
new situation (suppliers-> manugfacturing plants->distribution centers-
>markets). The current model minimixes the transportation cost while fulfilling
markets demand and satisfying production capacity. The new model should
optimize the flow of products to help decide how many distribution centers to
What are some considerations you should include in your mathetical model?
Check all that apply
Overall, the comprehensive exam was a valuable learning experience that tested my knowledge, skills, and ability to apply them in real-world scenarios. It also demonstrated the importance of a well-rounded education in supply chain management, where each course provides a unique perspective and contributes to a holistic understanding of supply chain operations. I am grateful for this learning journey and look forward to applying this knowledge in my future career.
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