Deck 16: Strategic Challenges and Change for Supply Chains

Question 1

Key performance indicators (KPIs)that require ownership and commitment to the objectives by all involved parties are needed.

Answer 1

True

Question 2

CEOs view SCM initiatives as being primarily focused on cost reduction.

Answer 2

True

Question 3

Corporate leaders

A) already understand the importance of supply chain excellence.
B) are seeking to reduce corporate assets which could have serious implications for supply chain managers.
C) are managing on a quarterly results because of Wall Street expectations.
D) do not clearly understand the importance of supply chain excellence.

Answer 3

D

Question 4

The seven principles of supply chain management have stood the test of time very well.

Question 5

The most compelling "financial strategy" is the pursuit of cost reduction and profit improvement.

Question 6

Investment in SCM tools is being driven by the need for firms to sense,respond,and execute on demand across multiple functional silos and enterprises.

Question 7

An example of time-based strategy is the tradeoffs between transportation,inventory,and warehousing.

Question 8

The fourth principle of supply chain management is to differentiate products closer to the customer.

Question 9

When a firm "customizes" their supply chain,it is

A) trying to improve asset utilization.
B) tailoring the chain to be responsive to the needs of individual customer.
C) responding to competitive situations.
D) revising its supply chain in light of current economic conditions.

Question 10

When a firm "sources strategically," it is

A) working together with customers and suppliers in a creative,positive way.
B) seeking least cost vendors.
C) matching product and raw material flows to minimize transportation costs.
D) reacting to current competitive situations.

Question 11

Collaboration skills are very important to develop.

Question 12

The primary goal of "Differentiation Strategy" is make your firm's products appear to be different than your competitors' products.

Question 13

Collaboration starts with expressions of partnership and aligned interests.

Question 14

Technology and data are already very well integrated into supply chain management.

Question 15

Corporate executives are already well aware of supply chain management.

Question 16

Decision making is part of the Cycle Time Reduction strategy.

Question 17

The first principle of supply chain management is to segment customers based on profit.

Question 18

Outsourcing is a way to reduce asset investment to improve asset productivity.

Question 19

Which of the following does not belong in the list of the seven principles of supply chain management?

A) Segment Customers Based on Service Needs
B) Differentiate Products Closer to the Customer
C) Develop an outsourcing strategy to maximize asset utilization
D) Adopt Channel-Spanning Performance Measures

Question 20

The "facility utilization" strategy places a high priority on making sure that all supply chain facilities create value only for the individual organizations.

Question 21

How would you develop world-class collaboration skills?

Question 22

There are four financial strategies.Name them,and pick two to discuss in more details.

Question 23

What is the prevailing attitude of CEOs towards supply chain management? What can supply chain executives do to attempt to change this perception?

Question 24

A 4PL is

A) a 3PL owned by transportation related firm.
B) a firm used to implement Facility Utilization and Equipment Utilization Strategies.
C) looked to for sustaining successful supply chain relationships.
D) a group of 3PLs owned by the company.

Question 25

Time-Reduction Logistics Initiatives

A) could change push to pull.
B) could change pull to push.
C) require a total re-evaluation of supply chain strategies.
D) have not found as much interest as other strategies.

Question 26

Facility Utilization and Equipment Utilization Strategies are

A) complementary.
B) contradictory.
C) unrelated.
D) difficult to put in place without effective collaboration.

Question 27

Financial vs.Non-financial Benefits of Collaboration include

A) whether collaboration "pays for itself."
B) making sure that each firm uses the same type of accounting systems and fiscal year reporting.
C) that KPIs for involved parties should be widely distributed among the partners.
D) a reason for undertaking this task,as it is quite difficult.

Question 28

Collaboration means

A) a firm seeks advantages by sourcing with critical partners.
B) companies leverage each other on an operational basis so that together they perform better than they did separately.
C) that many logistics or supply chain improvements can be made within one firm by eliminating "stovepipes".
D) that senior executives are insisting on this to improve their firms' financials.

Question 29

Which of the following is not part of how world class collaboration skills are developed?

A) Define the benefits of collaboration
B) Make the investment
C) Determine how the benefits will be shared
D) Dedicate "A" players

Question 30

Discuss the impact of collaboration on business processes financial versus non-financial benefits of collaboration.

Question 31

Discuss collaboration,and describe the elements of successful collaboration.

Question 32

The most compelling financial strategy is

A) profit improvement.
B) cash to cash cycle management.
C) operational efficiency.
D) inventory productivity.

Question 33

CEOs view SCM initiatives

A) as an area which can be left to second tier executives.
B) being primarily focused on cost reduction.
C) being primarily focused on top line growth.
D) being more of a financial concern.

Question 34

There are ____ high-priority areas in which it is important to develop effective logistics and supply chain strategies

A) five
B) six
C) seven
D) four

Question 35

Name any five of the seven principles of supply chain management,and choose two to discuss in more detail.

Question 36

Time based strategies could affect

A) cash to cash cycle management.
B) location selections.
C) CEOs' understanding of supply chain management.
D) the seven principles.

Question 37

Explain differentiation strategies in general,and describe three such strategies in detail.

Question 38

Discuss the supply chain management applications market,and how these applications will affect supply chain management.