Introduction to supply chain management quiz 1
Introduction to Supply Chain Management Quiz 1
All the answers come from the reading material assigned to date with a very large portion coming from 49 CFR Parts 100 to 186 and from the 2008 ERG There are questions that relate to the FAR, FEDSTD 313, 29 CFR and 40 CFR
Question 1 Which of the following functions is not part of the supply chain process?
Question 2 Which of the following answers is wrong when describing the supply chain management process?
A. Supply chain strategies can be determined in isolation
B. It is challenging to design and operate a supply chain so that system wide costs are minimized
C. It is challenging to design and operate a supply chain so that systemwide service levels are maintained.
D. Uncertainty and risk are inherent in every supply chain.
Question 3 Which of the following answers is not correct?
A. The supply chain is a complex network of facilities dispersed over a large geography
B. Different facilities in the supply chain frequently have different, conflicting objectives
C. Suppliers goals and manufacturer’s goals must be the same to ensure flexibility
D. The supply chain is a dynamic system that evolves over time
Question 4 The move to a global supply chain creates uncertainty and risk. Which of the following statements is not correct?
A. Matching supply and demand is very difficult.
B. Delivery leads times can have significant supply chain impact.
C. Advanced forecasting techniques makes it easy to predict demand for specific items.
D. The trend toward lean manufacturing, outsourcing, and offshoring increases risk significantly.
Question 5 of 10
Logistics and supply chain costs play an important role in the US economy reaching $1.18 trillion which is ____% of GDP in 2005.
Question 6 The largest cost component of total US supply chain costs is:
B. Inventory carrying costs
Question 7 of 10
Which of the following concepts/tools are not used to build effective supply chains?
A. Strategic partnerships
B. Sharing of information
D. Low risk financial loans
Question 8 of 10 Which of the following approaches has not been applied by corporations to manage risk in their supply chains?
A. Building redundancy into the supply chain
B. Using information to better sense and respond to disruptive events
C. Incorporating flexibility into supply contracts to better match supply and demand.
D. Implementing ebusiness models, such as FACEBOOK to communicate with consumers
Question 9 Which of the following definitions is not correct?
A. Customer value is the measure of a company’s contribution to its customer based on the entire range of products, services, and intangibles that constitute the company’s offerings.
B. Offshoring is the practice of moving domestic operations such as manufacturing to another country
C. Outsourcing is the utilization of a third party provider to perform services previously performed in house such as transportation, manufacturing, call center support.
D. Smart Pricing is the practice of selling products or services at a deep discount to gain new customers
Question 10 Which of the following statements is correct?
A. A vertically integrated company owns, manages, and operates all of its business functions
B. A vertically integrated company owns a number of companies, which act independently with unique strategies and brands.
C. In traditional supply chain strategies, each company works together to make the best decisions and to increase total profits.
D. Strategic sourcing is the process of determining short term supply requirements, finding specific suppliers to fulfill unique needs and services.