Exam 1: Introduction to Supply Chain Management

An abundance of competitors and choices have conditioned customers to want higher quality,faster delivery,and products and services tailored to their individual needs at a higher total cost.

Which of the following is an example of a purchased direct item for a manufacturing firm?

A _____ is a set of three or more organizations linked directly by one or more of the upstream or downstream flows of products,services,finances,and information from a source to a customer.​

The development of strategic purchasing practices can only help a company maintain its competitive position in a rapidly changing business environment.

According to the textbook,the five basic modes of transportation are motor,rail,air,water,and cyberspace.

Supply management is a broader concept than purchasing.

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

Trends in supply chain management include a change or realignment of the competitive strategies employed among at least some of the participating firms.

As a logistics specialist for your organization you are being asked to develop a model,which will aid your company in future global expansion projects.Answer the following questions as part of your initial step in developing a helpful model. ∙List 5 key components of the local infrastructure that must be investigated before committing to expansion? Why are these important? ∙Provide 3 aspects of government relating to logistics that need to be considered before committing to expansion?

Briefly explain how technology has impacted supply chain management? Give three examples.

_____ is a functional group (i.e.,a formal entity on the organizational chart as well as a functional activity (i.e.,buying goods and services).

According to the textbook,a supply chain's end customers are the only true source of income for all supply chain organizations.

The responsibility of transportation is to create both time utility and place utility,which means that products will be delivered at precisely the right time to the desired location.

A supply chain performance measurement system focuses on meeting sales or cost figures.

When a supplier provides a price quote to a buyer for supplies that includes transportation to the buyer's location this is known as FOB destination pricing,or free on board to the shipment's destination.

Efficient supply chain management distribution requires that modern warehouses concentrate their efforts on a wide array of warehousing and distribution functions like storing purchases,work in progress inventories,and finished goods inventories,receiving shipments,breaking down shipments,repackaging,and the distribution of components.

Which of the following statements is TRUE?

There is a definitive and prescriptive set of supply chain measures that result in one best way to measure supply chain performance.​

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."

Sophisticated customers,both industrial and consumer,no longer talk about price increases - they demand price reductions!​