Question 1

Identify the nine major categories of supply chain risk.

Accepted Answer

(1)supplier failure to deliver; (2)supplier quality failures; (3)logistics delays or damage; (4)distribution; (5)information loss or distortion; (6)political; (7)economic; (8)natural catastrophes; (9)theft,vandalism,and terrorism

Question 2

A manufacturing plant averaged $740 of raw materials,$230 of work-in-process inventory,and $1030 of finished goods inventory during the month.If the cost of goods sold this month amounted to $10,000,what is the inventory turnover for the month?

Accepted Answer

Monthly inventory turnover = Monthly cost of goods sold / Inventory Investment
= $10,000 / ($740 + $230 + $1030)= 5

Question 3

Because service firms do not acquire goods and services externally,their supply chain management issues are insignificant.

Accepted Answer

A) True 
 B)False  False

Question 4

Supply chain managers outsource logistics to meet what three goals?

Accepted Answer

(1)drive down inventory invest

Question 5

What term is used to describe the outsourcing of logistics?

Accepted Answer

A) e-logistics 
B) shipper-managed inventory (SMI) 
C) hollow logistics 
D) sub-logistics 
E) third-party logistics (3PL) 
A) e-logistics 
B) shipper-managed inventory (SMI) 
C) hollow logistics 
D) sub-logistics 
E) third-party logistics (3PL)

Question 6

Which of the following is NOT a typical benefit of centralized purchasing?

Accepted Answer

A) leverage purchase volume for better pricing 
B) develop specialized staff expertise 
C) reduce the duplication of tasks 
D) reduce lead times 
E) promote standardization 
A) leverage purchase volume for better pricing 
B) develop specialized staff expertise 
C) reduce the duplication of tasks 
D) reduce lead times 
E) promote standardization

Question 7

Which of the following devices represents an opportunity for technology to improve security of container shipments?

Accepted Answer

A) devices that identify truck and container location 
B) devices that sense motion 
C) devices that measure radiation or temperature 
D) devices that can communicate the breaking of a container lock or seal 
E) all of the above 
A) devices that identify truck and container location 
B) devices that sense motion 
C) devices that measure radiation or temperature 
D) devices that can communicate the breaking of a container lock or seal 
E) all of the above

Question 8

How does the pursuit of a response strategy impact the supply chain decisions of: (1)primary supplier selection criteria, (2)supply chain inventory, (3)distribution network,and (4)product design characteristics?

Accepted Answer

(1)Suppliers should be selected primaril

Question 9

Identify the four stages of supplier selection.

Accepted Answer

(1)supplier evaluati

Question 10

In supply chain management,ethical issues:

Accepted Answer

A) are particularly important because of the enormous opportunities for abuse. 
B) may be guided by company rules and codes of conduct. 
C) become more complex the more global is the supply chain. 
D) may be guided by the principles and standards of the Institute for Supply Management. 
E) All of the above are true. 
A) are particularly important because of the enormous opportunities for abuse. 
B) may be guided by company rules and codes of conduct. 
C) become more complex the more global is the supply chain. 
D) may be guided by the principles and standards of the Institute for Supply Management. 
E) All of the above are true.

Question 11

All EXCEPT which of the following are "opportunities" in managing the integrated supply chain?

Accepted Answer

A) postponement 
B) drop shipping 
C) blanket orders 
D) standardization 
E) line balancing 
A) postponement 
B) drop shipping 
C) blanket orders 
D) standardization 
E) line balancing

Question 12

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Accepted Answer

A) suppliers 
B) distributors 
C) wholesalers 
D) retailers 
E) landscaping contractors 
A) suppliers 
B) distributors 
C) wholesalers 
D) retailers 
E) landscaping contractors

Question 13

Because the supply chain has become so electronic and automated,opportunities for unethical behavior have been greatly reduced.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following best describes Vizio's sourcing strategy?

Accepted Answer

A) few suppliers 
B) keiretsu 
C) joint venture 
D) vertical integration 
E) virtual company 
A) few suppliers 
B) keiretsu 
C) joint venture 
D) vertical integration 
E) virtual company

Question 15

What is e-procurement?

Accepted Answer

Purchasing

Question 16

Outsourcing refers to transferring a firm's activities that have traditionally been internal to external suppliers.

Accepted Answer

A) True 
 B)False

Question 17

________ is an approach that seeks efficiency of operations through the integration of all material acquisition,movement,and storage activities.

Accepted Answer

Logistics

Question 18

A disadvantage of the "few suppliers" sourcing strategy is:

Accepted Answer

A) the risk of not being ready for technological change. 
B) the lack of cost savings for customers and suppliers. 
C) possible violations of the Sherman Antitrust Act. 
D) the high cost of changing partners. 
E) the suppliers are less likely to understand the broad objectives of the procuring firm and the end customer. 
A) the risk of not being ready for technological change. 
B) the lack of cost savings for customers and suppliers. 
C) possible violations of the Sherman Antitrust Act. 
D) the high cost of changing partners. 
E) the suppliers are less likely to understand the broad objectives of the procuring firm and the end customer.

Question 19

A company is deciding where to assign its summer intern.The manager estimates that the intern can save $10,000 in the supply chain or increase sales (revenue)by $25,000.If sales (revenue)is divided into the three categories shown in the table,where should the manager assign the intern to maximize profits?

Accepted Answer

The intern would save $10,000 in the sup

Question 20

For which corporate strategy(ies)should supply chain inventory be minimized?

Accepted Answer

A) low cost 
B) response 
C) differentiation 
D) low cost and response 
E) low cost and differentiation 
A) low cost 
B) response 
C) differentiation 
D) low cost and response 
E) low cost and differentiation

Exam 11: Supply Chain Management

Identify the nine major categories of supply chain risk.

A manufacturing plant averaged $740 of raw materials,$230 of work-in-process inventory,and $1030 of finished goods inventory during the month.If the cost of goods sold this month amounted to $10,000,what is the inventory turnover for the month?

Because service firms do not acquire goods and services externally,their supply chain management issues are insignificant.

Supply chain managers outsource logistics to meet what three goals?

What term is used to describe the outsourcing of logistics?

Which of the following is NOT a typical benefit of centralized purchasing?

Which of the following devices represents an opportunity for technology to improve security of container shipments?

How does the pursuit of a response strategy impact the supply chain decisions of: (1)primary supplier selection criteria, (2)supply chain inventory, (3)distribution network,and (4)product design characteristics?

Identify the four stages of supplier selection.

In supply chain management,ethical issues:

All EXCEPT which of the following are "opportunities" in managing the integrated supply chain?

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Because the supply chain has become so electronic and automated,opportunities for unethical behavior have been greatly reduced.

Which of the following best describes Vizio's sourcing strategy?

What is e-procurement?

Outsourcing refers to transferring a firm's activities that have traditionally been internal to external suppliers.

________ is an approach that seeks efficiency of operations through the integration of all material acquisition,movement,and storage activities.

A disadvantage of the "few suppliers" sourcing strategy is:

For which corporate strategy(ies)should supply chain inventory be minimized?

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Forecasting

Design of Goods and Services

Managing Quality

Process Strategy

Location Strategies

Layout Strategies

Human Resources,job Design,and Work Measurement

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrpand Erp

Short-Term Scheduling

Jit,tps,and Lean Operations

Maintenance and Reliability

Sustainability in the Supply Chain

Statistical Process Control

Capacity and Constraint Management

Supply Chain Management Analytics

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Filters