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scm exam 1

front 1

SCM involves the design and management of three primary flows:

  1. Products, information, funds
  2. Suppliers, customers, manufacturers
  3. Distributors, retailers, customers
  4. Logistics, operations, marketing
  5. Responsiveness, reliability, relationship management

back 1

1

front 2

Stages of supply chain management include suppliers, producers, distributors, retailers, and:

  1. Financial flows
  2. Customers
  3. Reverse logistics
  4. Sustainability
  5. None of the above

back 2

2

front 3

Three overriding SCM activities within and between firms include:

  1. Marketing, sourcing, logistics
  2. Suppliers, customers, manufacturers
  3. Products, information, funds
  4. Coordination, information sharing, collaboration
  5. Responsiveness, reliability, relationship management

back 3

4

front 4

The growing number and acceptance of customer returns has created an area of SCM called:

  1. Order fulfillment
  2. Distribution management
  3. Reverse logistics
  4. Sustainability

None of the above

back 4

3

front 5

A result of effective information flow through the supply chain is:

  1. Improved coordination and collaboration between supply chain partners
  2. Reduction in the amount of inventory across the supply chain
  3. Reduction of the bullwhip effect
  4. Compression of the supply chain from a time standpoint
  5. All of the above

back 5

5

front 6

Distortion and inaccurate information as it moves from the retailer back through the supply chain is known as:

  1. Early supplier involvement
  2. Bullwhip effect
  3. Supply chain compression
  4. Reverse logistics
  5. None of the above

back 6

2

front 7

Factors driving the growth of SCM include:

  1. Better intra-organizational coordination
  2. Customer sophistication
  3. Early supplier involvement
  4. Reverse logistics capabilities
  5. Improved relationship management between firms

back 7

2

front 8

An example of intra-organizational integration is:

  1. Marketing sharing promotion plans with operations
  2. Operations informing logistics of production plans
  3. Independent retailer sharing point-of-sale data with manufacturer
  4. Supplier informing manufacturer of a component defect
  5. a and b

back 8

5

front 9

The primary role of marketing in an organization is to link the organization to its:

  1. Suppliers
  2. Operations
  3. Customers
  4. Finance
  5. None of the above

back 9

3

front 10

Challenges to developing a systems thinking viewpoint in an organization include:

  1. Competing goals and incentives
  2. Segmented organizational structure
  3. Lack of information sharing
  4. ‘Siloed’ decision-making
  5. All of the above

back 10

5

front 11

Why have partnerships and alliances across enterprises become so important to SCM?

  1. Technology is expensive
  2. Companies want external supply chain partners to hold more risk
  3. “Early supplier involvement” is simple to implement
  4. Collaboration enables long-term viability and success in a competitive global environment

a and c

back 11

4

front 12

How has greater customer affluence increased the importance of SCM?

  1. Customers demand higher quality and better service
  2. The internet empowered consumers with information
  3. Customers wanted more standardized, mass-produced products
  4. Customers wanted fewer product choices
  5. a and b

back 12

4

front 13

Characteristics of a competitive supply chain include:

  1. Outsourcing, reliability, technology
  2. Globalization, innovation, reliability
  3. Relationship management, finance, early supplier involvement
  4. Affluent customers, technology, transportation
  5. Reliability, relationship management, responsiveness

back 13

5

front 14

Supply chain visibility increases supply chain reliability through:

  1. Shared understanding of real-time demand data by all supply chain partners
  2. Increasing variability across the supply chain
  3. Improved relationship management
  4. Understanding customer needs more quickly
  5. Putting more pressure on suppliers

back 14

1

front 15

The globalization trend presents numerous benefits to SCM including:

  1. Removes distance barrier between markets/consumers
  2. Consumers have greater product choices
  3. More supplier choices
  4. Cost savings
  5. All of the above

back 15

5

front 16

Examples of ‘upstream’ players in a supply chain include:

  1. Suppliers
  2. Customers
  3. Retailers
  4. Distribution centers
  5. Outbound transportation provide

back 16

1

front 17

Postponement is an effective strategy for some firms because it:

  1. Is relatively simple and inexpensive to implement
  2. Allows for local product customization
  3. Increases supplier involvement
  4. Decreases the need for relationship management
  5. Requires little technology

back 17

2

front 18

Necessary efforts to improve supply chain security present new challenges to firms including:

  1. Regulation/compliance requirements
  2. Increased transport time and costs
  3. Shorter lead times
  4. Decreased need for relationship management

a and b

back 18

5

front 19

Sustainable/green initiatives can be beneficial to firms in the following ways:

  1. Enhance supplier relationships/supply availability
  2. Increased regulation/compliance requirements
  3. Create efficiencies and cost savings
  4. Decreases need for relationship management
  5. a and c

back 19

5

front 20

The primary difference between logistics and SCM is:

  1. SCM is a more popular term
  2. Logistics is more strategic in nature
  3. There is no difference
  4. SCM takes a more strategic and managerial focus

Logistics is more complex

back 20

4

front 21

An accelerated flow of funds through the supply chain can improve a firm’s profitability by:

  1. Increasing interest rates
  2. Customers cannot be invoiced more quickly
  3. Creating a positive cash flow provides financial opportunity
  4. Increasing working capital needs

None of the above

back 21

3

front 22

Examples of ‘downstream’ players in a supply chain include:

  1. Suppliers
  2. Manufacturers
  3. Retailers
  4. Inbound transportation providers

Accountants

back 22

3

front 23

A demand-driven supply chain is focused on which SCM characteristic:

  1. Relationship management
  2. Collaboration
  3. Coordination
  4. Responsiveness

Risk management

back 23

4

front 24

When a firm is focusing on its core competencies, it is engaging in which trend:

  1. Sustainability
  2. Financial supply chain
  3. Lean initiatives
  4. Risk management

Outsourcing

back 24

5

front 25

Key trends in SCM include:

  1. Sustainability
  2. Risk management
  3. Reverse logistics
  4. Early supplier involvement

a and b

back 25

5

front 26

A supply chain is defined as all the activities that occur within a firm to produce a product or service

back 26

false

front 27

  1. The flows of products, information, and funds, are all important in an effective supply chain.

back 27

true

front 28

  1. The best way to think about supply chains is as a linear chain of players from suppliers to customers

back 28

false

front 29

  1. An example of an ‘upstream’ part of the supply chain is distribution of finished goods to the retailer.

back 29

false

front 30

  1. An example of an ‘upstream’ part of the supply chain is transportation of raw materials to the manufacturer.

back 30

true

front 31

  1. First tier suppliers are always more important to a manufacturer than second tier suppliers.

back 31

false

front 32

  1. Coordination involves the effective movement of goods and services through the supply chain; collaboration involves the effective relationships between supply chain members.

back 32

true

front 33

  1. It could be argued that, of the three overriding SCM activities, information sharing is the enabler of the other two activities.

back 33

true

front 34

  1. One of the most effective ways to combat the bullwhip effect is for firms to share point-of-sale data from retailers throughout the supply chain

back 34

true

front 35

  1. The only objective of a supply chain is to deliver a product or service at the lowest cost possible.

back 35

false

front 36

  1. SCM has grown rapidly as a business focus since the 1990s primarily because of globalization.

back 36

true

front 37

  1. Outsourcing is a required strategy and is a characteristic of all competitive supply chains.

back 37

false

front 38

  1. Becoming a demand-driven supply chain means that the company is focused on responsiveness.

back 38

true

front 39

  1. Outsourcing is a trend that is only suitable for manufacturing businesses.

back 39

false

front 40

  1. A core competency is an activity within a firm that provides value or competitive advantage.

back 40

true

front 41

  1. It could be argued that information technology has been the most impactful trend in the advancement of SCM.

back 41

true

front 42

  1. There is no effective strategy developed yet for global companies is to control costs while catering to local market tastes.

back 42

false

front 43

  1. Global supply chains have reduced most companies’ exposure to risk.

back 43

false

front 44

  1. A requirement to achieving ever-leaner supply chains is collaboration with supply chain partners.

back 44

true

front 45

  1. Pursuing a lean supply chain strategy reduces a firm’s supply chain risk.

back 45

false

front 46

  1. “Green” supply chain strategies need to be embraced across firms in the supply chain in order to be most effective.

back 46

true

front 47

  1. Suppliers are not overly important in a firm’s innovation initiatives.

back 47

false

front 48

  1. The only benefit to firms of ‘green’ supply chain initiatives is lower costs.

back 48

false

front 49

  1. In an effective supply chain, every activity should contribute to the total value of the firm’s cost or service position.

back 49

true

front 50

  1. The end customer plays a greater role in the manufacturing supply chain than in a service supply chain.

back 50

false

front 51

SCM competitive advantage can be derived from two primary areas:

  1. Cost and value
  2. Suppliers and customers
  3. Productivity and sustainability
  4. Logistics and marketing

Responsiveness and relationship managemen

back 51

1

front 52

A product’s cost advantage may include the following:

  1. High service
  2. Customization
  3. Reputation
  4. Sustainability
  5. None of the above

back 52

5

front 53

Ways that companies can gain a value advantage include:

  1. Value-segmenting
  2. Supplier relationship management
  3. Service and support
  4. Lowest cost
  5. a and c

back 53

1

front 54

The experience curve describes the relationship between:

  1. Value and experience
  2. Volume and experience
  3. Service levels and experience
  4. Costs and experience
  5. Innovation and experience

back 54

4

front 55

Building blocks of SCM strategy include:

  1. Operations
  2. Distribution
  3. Sourcing
  4. Customer service
  5. All of the above

back 55

5

front 56

Operations strategy focuses primarily on:

  1. Improved coordination between supply chain partners
  2. Reducing inventory across the supply chain
  3. How goods and services will be produced
  4. Segmenting customers/markets
  5. All of the above

back 56

3

front 57

Customers’ ability to customize products reflects which operations strategy

  1. Make-to-order
  2. Assemble-to-order
  3. Make-to-stock
  4. Reverse logistics
  5. None of the above

back 57

1

front 58

The most effective strategy for companies that produce standardized, commodity products is:

  1. Make-to-order
  2. Assemble-to-order
  3. Make-to-stock
  4. Reverse logistics
  5. Customer service

back 58

3

front 59

The most effective strategy when there are many variations of the end product is:

  1. Make-to-order
  2. Assemble-to-order
  3. Make-to-stock
  4. Adaptability
  5. None of the above

back 59

2

front 60

Distribution strategy involves decisions about:

  1. Supplier selection
  2. Product development
  3. Transportation modes
  4. How to get products to customers
  5. a and b

back 60

4

front 61

In defining a distribution strategy, a company must consider the importance of channel intermediaries including:

  1. Suppliers and manufacturers
  2. Suppliers and customers
  3. Retailers and distributors
  4. Distributors and suppliers
  5. None of the above

back 61

3

front 62

The outsourcing decision relates to which building block of SCM strategy:

  1. Operations
  2. Distribution
  3. Sourcing
  4. Logistics
  5. Customer service

back 62

3

front 63

An outsourcing strategy can result in the following:

  1. Ability to respond quickly to demand changes
  2. Gain a competitive advantage
  3. Eliminate risk
  4. Loss of flexibility
  5. a and b

back 63

5

front 64

Risks to a company that can result from outsourcing include:

  1. Customers demanding higher quality and better service
  2. Loss of control over a product or process
  3. Increasing technological capabilities
  4. Lower costs
  5. a and b

back 64

2

front 65

Benefits to a company that can result from outsourcing include:

  1. Accessing new markets/customers
  2. Lower costs
  3. Decreased flexibility
  4. Decreased demand
  5. a and b

back 65

5

front 66

When defining a customer service strategy, companies should first:

  1. Outsource non-core competencies
  2. Define the sales volume and profits in each market segment
  3. Improve relationship management processes
  4. Pressure suppliers for lower costs and better service
  5. None of the above

back 66

2

front 67

How a company competes in the marketplace is defined as:

  1. Operations strategy
  2. Market segmentation
  3. Competitive priority
  4. Alliance development
  5. All of the above

back 67

3

front 68

Of the five priorities by which companies compete in the marketplace, which relates to having efficient, integrated operations:

  1. Cost
  2. Time
  3. Logistics
  4. Service
  5. Market segmentation

back 68

1

front 69

Companies that compete primarily on innovation typically focus on two attributes:

  1. Operations and logistics
  2. Sourcing and operations
  3. Quality and time
  4. Speed and product design
  5. Cost and time

back 69

4

front 70

Investing in and utilizing RFID tag technology typically fits with which competitive priority:

  1. Time
  2. Quality
  3. Cost
  4. Segmentation
  5. a and b

back 70

2

front 71

Two concepts that companies must continually monitor when evaluating strategy are:

  1. Regulation and compliance requirements
  2. Inventory levels and costs
  3. Time and quality
  4. Order winners and order qualifiers
  5. Innovation and quality

back 71

4

front 72

Adaptability, in terms of defining SCM strategy, relates to a company’s ability to:

  1. Continually locate the lowest cost supplier
  2. Evolve and adapt as market conditions change
  3. Increase capacity as demand increases
  4. Outsource production
  5. None of the above

back 72

2

front 73

Factors in today’s business environment that require companies to have adaptable supply chains include:

  1. Development of new technologies
  2. Frequent changing to a company’s business scope
  3. Increase in outsourcing
  4. Increasing working capital needs
  5. a and b

back 73

5

front 74

A worker can produce 1000 units during an 8 hour shift, thus the productivity of that worker is:

  1. 100 units/hour
  2. 80 units/hour
  3. 800 units/hour
  4. 125 units/hour
  5. None of the above

back 74

4

front 75

One of the key aspects that must be considered when interpreting productivity measures is:

  1. Benchmarking
  2. Collaboration
  3. Coordination
  4. Responsiveness
  5. None of the above

back 75

1

front 76

  1. A business strategy is a company plan that defines short term goals and core competencies.

back 76

false

front 77

  1. Supply chain strategy should closely link with and support a company’s business strategy.

back 77

true

front 78

  1. Competitive advantage, derived from supply chain management practices, can be the result of two primary areas: cost AND productivity.

back 78

false

front 79

  1. Commodity products are typically bought by consumers because of the product’s value.

back 79

false

front 80

  1. A key area where companies are adding value to products is by focusing on service.

back 80

true

front 81

  1. One building block of SCM strategy is alliance development.

back 81

false

front 82

  1. Operations strategy involves decisions about which suppliers to utilize.

back 82

false

front 83

  1. A made to stock operations strategy offers customers the ability to customize products.

back 83

false

front 84

  1. An assemble to order operations strategy allows firms to lower inventory costs.

back 84

true

front 85

  1. The make to order operations strategy typically requires longer customer lead times.

back 85

true

front 86

  1. All industries should strive to implement a make to order strategy because this strategy provides the highest level of customer service.

back 86

false

front 87

  1. Understanding a product’s life cycle is important to defining an operations strategy.

back 87

true

front 88

  1. Distribution strategy involves the decision to sell products directly to consumers or through channel intermediaries.

back 88

true

front 89

  1. The same distribution strategy should be deployed to all markets because of cost savings.

back 89

false

front 90

  1. Sourcing strategy involves decisions about outsourcing.

back 90

true

front 91

  1. Processes that are strategic differentiators for a company should be outsourced because they are typically the most expensive processes to manage.

back 91

false

front 92

  1. Outsourcing can allow companies to respond to demand changes more quickly.

back 92

true

front 93

  1. Outsourcing can provide many benefits but it also carries numerous risks that must be evaluated and managed.t

back 93

true

front 94

  1. As a company increases the scope of an outsourced process, the risk to the company decreases.

back 94

false

front 95

  1. Giving one supplier too much control creates a dependency risk for a company.

back 95

true

front 96

  1. Customer service strategies should be developed based on market segmentation.

back 96

true

front 97

  1. When designing a SCM strategy, mimicking a market leader always leads to success.

back 97

false

front 98

  1. Successful companies are able to compete on all competitive priorities.

back 98

false

front 99

  1. An order qualifier is an attribute that is a must-have for a company to compete in the marketplace.

back 99

true

front 100

  1. Without substantial market influence, there are very few strategies for small firms to compete.

back 100

false

front 101

  1. The ability to adapt strategies to a changing environment is the same for all industries.

back 101

false

front 102

  1. Evaluating SCM strategy is best done on an annual or bi-annual basis.

back 102

false

front 103

  1. Productivity measures the utilizations of a company’s resources.

back 103

true

front 104

  1. For the month of August, the values of a company’s outputs and inputs were $100,000 and $40,000 respectively, thus he total productivity measure would be 2.0

back 104

false

front 105

  1. Productivity must be measured over time in order to provide a valuable measure of performance.

back 105

true