International Transport Logistics G53 Midterm Exam Summer 2022

International_Transport_Logistics_G53_Mid_term_exam_Summer_2022__1_

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Mid Term Exam 30%

Course Identification

Name of program– Code:

BUSINESS ADMINISTRATION AND COMMERCE (LCA.EE)

Course title:

INTERNATIONAL TRANSPORT LOGISTICS

Group:

G53

Teacher’s name:

N. Allami

Exam Duration:

3 hours (1h15-4h15)

Semester:

Summer 2022

Student Identification


Name: Harkirat Singh Student number: 1177256

Date: 08th July 2022 Result:


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Instructions


  • No break is allowed during this exam. Students are not allowed to exit the examination room before half of the allotted time has passed. Once a student has exited the classroom, he/she may not re-enter (IPEL – Article 5.12.4).

  • The teacher will not answer questions during the exam.

  • Students must remain silent during the exam.

  • Plagiarism, attempts at plagiarism or complicity in plagiarism during a summative evaluation, results in a mark of zero (0). In the case of recidivism, in the same course or in another course, the student will be given a grade of '0' for the course in question. (IPEL – Article 5.16).

  • It is the teacher’s responsibility to identify language errors. If such errors are found, teachers may apply a penalty of up to 10% of the grade (IPEL – Article 5.7).

  • Please write clearly.


Mark Breakdown


This evaluation is worth 100 points, distributed as follows:

  • 2 development questions 20 marks

  • 2 analytical exercises 80 marks


TOTAL: 100 POINTS


Evaluation Grid:

Did not master any part of the competency

Has clearly mastered very little of the competency

Minimal mastery of the competency

Satisfactory mastery of the competency

Very good mastery of the competency

Excellent mastery of the competency

0

1%-29%

30%-59%

60%-74%

75%-89%

90%-100%

Mid Term Exam



Exercise 1 (20 marks)

  1. Identify the different types of manufacturing and specify the characteristics of each category. Answer 1. There are three different types of manufacturing:

    1. Standard or on specifications products.

  1. Manufacture of stocks, custom manufacturing, assembly on order manufacturing

  2. Batch production, unit production, continuous production


  1. Standard or on specifications products:

    Standard: the characteristics of the product are established by the company which produces them. For Example: Hardware & software companies.


    On specification: The characteristics of the product are specified by the customers. For Example: Manufactures of parts or components in companies of cars, electronics.


  2. Manufacture of stocks, custom manufacturing, assembly on order manufacturing Manufacture of stocks: It is based on the prediction for future demands in advance and store till the time of sale. it is suitable for standard products.


    Custom manufacturing: it is manufacturing on order which means a product is only produced when order has been received. it is used in the case of products on specifications .it reduces the inventory risk but increases the time between the receipt of order and the delivery of product.


    Assembly on order manufacturing: the component in which form the products are manufactured and stored in advance, but the final assembly is only made once the order has been received. This method is mostly useful for the products which have few common components. For Example: McDonald’s


  3. Batch production, unit production, continuous production

Batch production: A company manufacture divers’ products that are organised in batch. Basically, a batch is a group of identical products which are produced together through same manufacturing steps. For Example: diver’s soups. This can be used in manufacturing of standard products and on specification, custom manufacturing, assembly on order or manufacturing for stocks.


Unit production: a company manufacture one product. it can be used in custom manufacturing and in assembly on order manufacturing to produce products on specifications.

Continuous production: a company manufactures a single standard products or when one of the standard product is produced in large quantity . this production is used in manufacturing of stocks.


Exercise 2 (40 marks)


A company manufactures different products with different annual consumption (see table below). To better manage stocks and optimize the costs, the stock manager decides to use the ABC classification methods as first step. By taking g into account all the elements mentioned in the table, establish the ABC classification to adequately manage these products.


Classes


A


B


C



12%


28%


60%



Product code


Unit cost ($)


annual consumption (unit)


Monetary value($)


% of Monetary

value


101


2.5


75 000


187500


5.818


102


2.4


900 000


2160000


67.03


103


2.00


4000


8000


0.248


104


8.00


80 000


640000


19.861


105


3.00


1500


4500


0.139


106


4.60


27 600


126960


3.94


107


8.75


8750


76562.5


2.376


108


2.50


7500


18750


0.581


TOTAL




3,222,272.5


100



Product code


Unit cost $


Annual consumption

units


Monetary value ($)


% of

monetary value


Cumulative


%


Class type


102


2.4


900000


2160000


67.03


67.03


A


104


8.00


80000


640000


19.861


86.891


B


101


2.5


75000


187500


5.818


92.709


B


106


4.60


27600


126960


3.94


96.649


C


107


8.75


8750


76562.5


2.376


99.025


C


108


2.50


7500


18750


0.581


99.606


C


103


2.00


4000


8000


0.248


99.854


C


105


3.00


1500


4500


0.139


100


C


TOTAL




3,222,272.5


100




Given A = 12 % B = 28% C = 60% A=8*12% =0.96 Items B=8*28%=2.24 Items

C=8*60%=4.8 Items


Exercise 3 (40marks)


In addition to forecasting the demand for bicycles, Lucky Mountain managers must also plan for the demand for spare parts. As it is related to past bike sales, this demand is less seasonal and less subject to market trends.

The table below shows the sale of brake caliper sets for the past year.


Linda Brian and Alex Gartner wonder which forecasting method would work best. They now consider four methods: the moving average at K = 3, the weighted moving average at K = 3 with a weight at 60%, 30%, 10%, exponential smoothing with a smoothing factor of α = 0.3.

  1. If each of these methods had been used, what would have been the expected sales for the months of July to December (one retains only the last six months to limit the calculations to be made)? (18 marks)


    Months Previous

    year

    Jun.

    Jul.

    Aug.

    Sep.

    Oct.

    Nov.

    Dec.

    brake

    caliper sets

    705

    664

    685

    630

    680

    635

    670

    moving average at

    K = 3








    weighted moving average at K = 3 at 60%, 30%,

    10%








    exponential smoothing

    α = 0.3








  2. Calculate the average absolute deviation (AAD) that would have been obtained with each of the methods. (18 marks)


    Months Previous

    year

    Jul.

    Aug.

    Sep.

    Oct.

    Nov.

    Dec.

    Average absolute

    deviation

    AAD moving average at K

    = 3

    49

    18

    55

    20

    30

    22

    32

    AAD

    weighted moving average at K

    = 3 at 60%,

    30%, 10%

    51

    1

    51

    30

    31

    22

    31

    AAD

    exponential smoothing

    α = 0.1

    39.6

    1

    14.6

    5

    68.1

    9

    11.3

    7

    55.2

    3

    14.7

    1

    33.96

    AAD

    exponentials smoothing

    α = 0.3

    26.2

    7

    2.61

    53.1

    7

    12.7

    8

    36.0

    5

    9.76

    23.44


  3. Which method of forecasting seems most appropriate to this situation? (4 marks)