Question 1

Firms in a responsive supply chain are expected to have

Accepted Answer

A) long delivery times. 
B) high inventory investments. 
C) flexible flow process. 
D) low-capacity cushions. 
A) long delivery times. 
B) high inventory investments. 
C) flexible flow process. 
D) low-capacity cushions. C

Question 2

Which one of the following statements correctly represents a benefit of centralized buying?

Accepted Answer

A) Local managers have more control over their business. 
B) Purchases and production schedules are meshed more easily. 
C) Purchasing lead times may be shorter. 
D) Increased buying power can result in significant savings in purchasing costs. 
A) Local managers have more control over their business. 
B) Purchases and production schedules are meshed more easily. 
C) Purchasing lead times may be shorter. 
D) Increased buying power can result in significant savings in purchasing costs. D

Question 3

Vendor-managed inventories are an example of the forward placement tactic.

Accepted Answer

A) True 
 B)False  True

Question 4

A common disruption of the external supply chain is product and service mix changes.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements does NOT represent a positive link between supply chain performance and the financial status of a firm?

Accepted Answer

A) Lowering the cost of purchased materials reduces the level of working capital required and has a positive impact on the contribution margin. 
B) Reduced inventory levels result in an increase in the percentage of partial orders shipped and an increased inventory turnover ratio. 
C) Percentage of orders shipped on time reduces the level of working capital required and supports increased sales. 
D) Reducing supplier lead times reduces the level of working capital required. 
A) Lowering the cost of purchased materials reduces the level of working capital required and has a positive impact on the contribution margin. 
B) Reduced inventory levels result in an increase in the percentage of partial orders shipped and an increased inventory turnover ratio. 
C) Percentage of orders shipped on time reduces the level of working capital required and supports increased sales. 
D) Reducing supplier lead times reduces the level of working capital required.

Question 6

It is desirable for a firm in the higher echelon of an efficient supply chain to have

Accepted Answer

A) high-capacity cushions. 
B) delivery by air. 
C) a line flow process. 
D) high inventory investment. 
A) high-capacity cushions. 
B) delivery by air. 
C) a line flow process. 
D) high inventory investment.

Question 7

The percentage of incomplete orders shipped is a performance measure for the purchasing process of supply chain management.

Accepted Answer

A) True 
 B)False

Question 8

Responsive supply chains work best when frequent product introduction exists.

Accepted Answer

A) True 
 B)False

Question 9

Which one of the following statements is TRUE about purchasing?

Accepted Answer

A) Purchasing must satisfy the firm's long-term supply needs. 
B) Purchasing's primary role should be placing and tracking orders. 
C) Purchasing's primary role is to negotiate lower prices. 
D) Purchasing's primary role is to negotiate prices and delivery dates. 
A) Purchasing must satisfy the firm's long-term supply needs. 
B) Purchasing's primary role should be placing and tracking orders. 
C) Purchasing's primary role is to negotiate lower prices. 
D) Purchasing's primary role is to negotiate prices and delivery dates.

Question 10

Relative to centralized buying,localized buying has the advantage of increasing purchasing clout.

Accepted Answer

A) True 
 B)False

Question 11

A common disruption of the internal supply chain is information errors.

Accepted Answer

A) True 
 B)False

Question 12

The new service/product development process begins with the old item and ends with the launch of the new offering.

Accepted Answer

A) True 
 B)False

Question 13

Possible causes of disruption due to internal supply chain are

Accepted Answer

A) late deliveries. 
B) machine breakdowns or inexperienced workers. 
C) product and service mix changes. 
D) underfilled shipments. 
A) late deliveries. 
B) machine breakdowns or inexperienced workers. 
C) product and service mix changes. 
D) underfilled shipments.

Question 14

An electronic marketplace where buying and selling firms come together to do business is called a catalog hub.

Accepted Answer

A) True 
 B)False

Question 15

Postponement is a tactic used by mass-customization firms to delay the customization of a product or service until the last possible moment.

Accepted Answer

A) True 
 B)False

Question 16

The competitive orientation to supplier relations is that the buyer and supplier are partners.

Accepted Answer

A) True 
 B)False

Question 17

Forward placement means locating stock closer to the manufacturing facility.

Accepted Answer

A) True 
 B)False

Question 18

The finished goods of one firm may actually be the raw materials for another firm.

Accepted Answer

A) True 
 B)False

Question 19

Offshoring is a supply chain strategy that involves moving processes to another country.

Accepted Answer

A) True 
 B)False

Question 20

Customer service is an important point of contact between the firm and its customers.

Accepted Answer

A) True 
 B)False

Exam 2: Supply Chain Management

Firms in a responsive supply chain are expected to have

Which one of the following statements correctly represents a benefit of centralized buying?

Vendor-managed inventories are an example of the forward placement tactic.

A common disruption of the external supply chain is product and service mix changes.

Which of the following statements does NOT represent a positive link between supply chain performance and the financial status of a firm?

It is desirable for a firm in the higher echelon of an efficient supply chain to have

The percentage of incomplete orders shipped is a performance measure for the purchasing process of supply chain management.

Responsive supply chains work best when frequent product introduction exists.

Which one of the following statements is TRUE about purchasing?

Relative to centralized buying,localized buying has the advantage of increasing purchasing clout.

A common disruption of the internal supply chain is information errors.

The new service/product development process begins with the old item and ends with the launch of the new offering.

Possible causes of disruption due to internal supply chain are

An electronic marketplace where buying and selling firms come together to do business is called a catalog hub.

Postponement is a tactic used by mass-customization firms to delay the customization of a product or service until the last possible moment.

The competitive orientation to supplier relations is that the buyer and supplier are partners.

Forward placement means locating stock closer to the manufacturing facility.

The finished goods of one firm may actually be the raw materials for another firm.

Offshoring is a supply chain strategy that involves moving processes to another country.

Customer service is an important point of contact between the firm and its customers.

Creating Customer Value Through Operations

Process Configuration

Capacity

Inventory Management

Quality and Process Improvement

Lean Systems

Managing Projects

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Waiting Lines

Decision Making

Financial Analysis

Work Measurement

Learning Curve Analysis

Computer-Integrated Manufacturing

Acceptance Sampling Plans

Simulation

Special Inventory Models

Linear Programming

Filters