Question 1

Geographic postponement is characterized by:&#10;A)Timely manufacturing&#10;B)Timely delivery&#10;C)Timely commitment to design&#10;D)None of the above

Accepted Answer

Geographic postponement is the strategy of delaying the final customization of a product until the last possible moment to maximize efficiency in distribution and minimize inventory costs. It aims to achieve timely delivery by postponing customization until the product reaches its final destination. A and C are not related to the concept of geographic postponement.

Question 2

Cash-to Cash Conversion:&#10;A)Is typically related to inventory turn&#10;B)Is related to freight payment&#10;C)Is the time required to convert raw materials into finished inventory&#10;D)Is a measure of manufacturing efficiency

Accepted Answer

Cash-to cash conversion is the measure of the time it takes for a business to convert its investments in inventory back into cash. It is related to inventory turn because the quicker a business can sell its inventory, the faster it can convert it into cash.

Question 3

Supply Chain is best described by which of the following:&#10;A)A group of cooperative carriers&#10;B)A group of collaborative companies&#10;C)A formal association of competitive companies&#10;D)Two firms who create a strategic alliance

Accepted Answer

A supply chain consists of a network of companies and organizations that work together to move products or services from the initial supplier to the end consumer. This network can involve multiple strategic and collaborative partnerships and relationships between companies to ensure the efficient and effective movement of goods and services. Therefore, the best description of a supply chain is a group of collaborative companies.

Question 4

concept of postponement:&#10;A)Involves two organizations working together to delay delivery&#10;B)Involves strategic delay of the delivery&#10;C)Seeks to reduce the risk of delivery&#10;D)Seeks to reduce the risk of anticipation

Accepted Answer

Postponement is a strategy used to delay the final production or distribution of a product until customer demand is clearer, thereby reducing the risk associated with anticipating demand.

Question 5

integrated service supplier (ISP) seeks to:&#10;A)Provide critical operational functionality in a supply chain&#10;B)Specializes in providing a specialized service&#10;C)Typically brings together two otherwise separate functions&#10;D)None of the above

Accepted Answer

An integrated service supplier (ISP) provides critical operational functionality in a supply chain by bringing together multiple services to create a single provider for a customer's needs. They provide end-to-end solutions and offer a broad range of services to streamline and optimize the supply chain process.

Question 6

lowest total process cost is:&#10;A)Always the sum of the lowest cost for each involved function&#10;B)Is the lowest cost for each involved function&#10;C)May be the lowest cost for each involved function&#10;D)Typically involves careful cost integration

Accepted Answer

The answer of lowest total process cost is:&#10;A)Always the sum...

Question 7

Which of the following best describes an integrative supply chain process:&#10;A)Something that links together independent parts&#10;B)A concept that identifies independent parts&#10;C)A conglomeration of functions&#10;D)The fusion of critical components of a supply chain

Accepted Answer

An integrative supply chain process involves the fusion of critical components of a supply chain to create a coordinated and collaborative approach to managing the flow of goods and services. This requires close alignment and integration of various functions and processes such as procurement, production, logistics, and distribution. Option A describes a link between independent parts, Option B identifies them, and Option C describes a collection of functions - none of which fully capture the concept of an integrative supply chain.

Question 8

is the primary reason that time to market has decreased over the past two decades:&#10;A)Improvement in Federal Highways&#10;B)Better Sea Ports&#10;C)Development of Double Stack Containers&#10;D)Information Technology

Accepted Answer

The development of Information Technology has revolutionized the way businesses operate and communicate, leading to increased efficiency and speed in production and distribution. This has resulted in a significant reduction in time to market for many products.

Question 9

What is dwell time:&#10;A)A key component of system design&#10;B)The ratio of asset idle time to total time required to complete a mission&#10;C)The total time inventory is waiting to be processed.&#10;D)A key concept in manufacturing efficiency

Accepted Answer

Dwell time is defined as the ratio of the time that an asset spends idle to the total time required to complete a mission. This is commonly used in logistics and transportation industries to measure the efficiency of supply chain operations. Options A, C, and D are all related to efficiency in different industries but do not directly relate to the definition of dwell time.

Question 10

Collaboration is the act of:&#10;A)Sharing secret information&#10;B)Working with competitors&#10;C)Integrating a supply chain&#10;D)Legal in selected supply chain arrangements

Accepted Answer

Collaboration refers to working together with others towards a common goal. Integrating a supply chain involves collaboration between different businesses in order to streamline processes, share resources, and enhance overall efficiency. Sharing secret information and working with competitors are not necessarily indicative of collaboration, and collaboration is legal in most supply chain arrangements as long as it does not violate antitrust laws.

Question 11

Anticipatory Business Model is best described by which statement:&#10;A)Driven by forecast&#10;B)Driven by information technology&#10;C)Builds on the principles of time-based competition&#10;D)Is a low risk strategy

Accepted Answer

The answer of Anticipatory Business Model is best described by...

Deck 1: 21st-Century Supply Chains