The Exam Helper

My learning journey in Supply Chain Fundamentals

As someone who has always been interested in how things work, my fascination with supply chain management was natural. When I started studying Supply Chain Fundamentals, I had no idea how much it would change the way I think about the world around me. Over the years, my learning journey in Supply Chain Fundamentals has been a continuous process of discovery, experimentation, and growth.

One of the most important lessons I have learned is the importance of effective communication and collaboration within a supply chain. In order to operate efficiently, all parties involved must be able to effectively communicate with one another. From suppliers and manufacturers to distributors and retailers, each link in the supply chain plays a critical role in ensuring that goods and services are delivered to the customer in a timely and cost-effective manner.

Another critical aspect of my learning journey in Supply Chain Fundamentals has been the importance of data analytics in supply chain management. With the advent of big data, supply chain professionals now have access to vast amounts of data that can be used to optimize every aspect of the supply chain. From forecasting demand and optimizing inventory levels to reducing transportation costs and improving delivery times, data analytics has transformed the way we think about supply chain management.

In addition to the importance of communication and data analytics, my learning journey in Supply Chain Fundamentals has also taught me about the importance of continuous improvement. In today’s fast-paced business environment, supply chain professionals must always be looking for ways to improve the efficiency and effectiveness of their operations. This requires a continuous process of learning and development, keeping abreast of industry news and trends, attending conferences and workshops, and engaging with other professionals in the field.

One of the most rewarding aspects of my learning journey in Supply Chain Fundamentals has been the opportunity to apply my knowledge to real-world scenarios. From working with organizations to optimize their supply chain operations to developing strategies to mitigate supply chain risks, I have had the chance to put my learning into practice and make a positive impact.

Week 1:

  • Watched introductory videos on the basics of supply chain management and the importance of logistics.
  • Read several articles on supply chain strategy and the role of inventory management.
  • Attended the first online lecture and participated in a group discussion on the key concepts covered.

I found some problems quite interesting:

Part 1

A large portion of fruits and veggies grown in the U.S. don’t meet cosmetic standards – the crooked carrot, the curvy cucumber, the undersized apple – usually causing them to go to waste. UglyFoods is a business that buys and distributes these food items. UglyFoods is running a warehouse in Oregon with several SKUs that vary along different metrics. To date, the company has been treating all SKUs the same, but now they are growing and need to make sure this choice is still right.

Steven Miller, the operations manager, asks you to analyze a sample of representative SKUs and see if segmentation is necessary for better management of operational costs. He adds that the most important factors that drive operational costs are the value and weight of SKUs. He gives you the following data:

Answer the following questions based on the above sample.

Write your answer as a decimal number with 4 decimal places (e.g. if the result is 94.672%, write 0.9467 in the answer box).

Week 2:

  • Reviewed the types of supply chain networks and their advantages and disadvantages.
  • Completed a case study on supply chain design and presented my findings in a small group.
  • Read additional materials on supply chain integration and the role of partnerships in the supply chain.

I found some problems quite interesting:

Part 1c

Clarence Lopez suggests you also include a trend-dampening component, .

Build a level and trend exponential smoothing model with damped trends for the incoming calls. Use an alpha of 0.25, a beta of 0.05, a level  of 939 and a trend  of 6.58.

What is the Mean Absolute Percentage Error (MAPE) of the forecast for the given data, as measured from the forecast for period 1 to the forecast made in period 21? Answer in percent without the percentage symbol, e.g. if your answer is 24.5% write 24.5.

Week 3:

  • Discussed the impact of globalization on supply chains and how companies can manage risks.
  • Completed a simulation exercise on supply chain risk management and analyzed the results with my team.
  • Learned about different types of forecasting techniques and how to apply them to supply chain management.

I found some problems quite interesting:

Part 2
Aaron Ross wants you to analyze how weekends affect his daily demand for shaped ski rentals, since he has noticed that more people rent shaped skis on weekend days (e.g. Saturday and Sunday) than on weekdays (e.g. Monday through Friday). Create a regression model of shaped skis daily rentals as a function of weekends. Use as only independent variable a dummy variable with a value of 1 for weekend days and 0 for the weekdays.
Part 3
Based on your previous experience working on another ski rental shop located in Washington (US), you believe that school breaks affect the daily rental demand for shaped skis. You also think that a better model could be obtained by using a multiple regression approach. Your proposal is to analyze three different models to predict shaped ski rentals using two independent variables in each model: (A) one model using the day of month and weekend as the independent variables, (B) another using the day of month and school break as independent variables, and (C) a last one using weekend and school break as independent variables. Which of these models is the best considering predictive power and statistical significance of coefficients?

Select the best answer

In conclusion, my learning journey in Supply Chain Fundamentals has been a fascinating and rewarding experience that has taught me the importance of effective communication, data analytics, and continuous improvement in achieving success in supply chain management. I am excited to continue exploring this field and applying my knowledge to make a meaningful difference in the world.

To view the full journey, please visit: