Exam 1: Introduction to Supply Chain Management

Explain the concept of 'value-enhancing benefits' by giving THREE examples of benefits that may be realized by a firm that successfully manages its supply chain.

Trends in supply chain management include increasing supply chain responsiveness and considering the negative environmental impacts of supply chains.

Trends in supply chain management include increasing inventory levels and considering the elimination of logistics intensive online retailing.

The term Supply Chain Management and the field of study it represents today seems to have emerged in the:

Improved quality is one benefit of using a lean production system.

List three concepts used by supply chain managers in an attempt to make a firm more flexible and responsive to customers' changing needs:

According to the textbook, the keys to successful supply chain management include trust and honest, accurate communications between supply chain partners.

Which of the following acronyms is NOT paired with its correct "translation?"

According to the textbook, conditions which must be present for successful supply chain management include:

Successful supply chain integration occurs when supply chain participants realize that the needs and desires of the end item manufacturer dictate the objectives and policies of all the other supply chain participants.

Which of the following would be considered a third party provider?

According to the textbook, in the 1950's and 1960's, mass production techniques focused on creating supplier partnerships, improving process design and flexibility, and improving product quality.

Lean production is typically associated with which of the following company's production systems?

The following supply chain concept was introduced in the 1990's in an attempt to reduce waste and increase performance:

Encouraging or helping a firm's suppliers to perform in a desired fashion can be referred to as:

According to the textbook, retail stores are considered the focal firms in modern supply chains.

The universally accepted definition of supply chain management is "the management and integration of the parties involved in producing the end items coveted by consumers."

Which of the following was a popular way in the 1990's of developing radically new business processes in an effort to reduce waste and increase performance?

Discuss the differences between supply chain partnerships of the past and those that have developed today.

Reverse logistics activities include the return of defective and damaged items to the manufacturer, and the recycling of used packaging.