Deck 15: Strategic Challenges and Change for Supply Chains

Question 1

Shippers see more strategic and IT-based processes such as supply chain planning and network modeling and optimization as great areas of opportunity to leverage big data.

Answer 1

True

Question 2

Reverse flows in logistics have decreased.

Answer 2

False

Question 3

Nike uses active sensors in high-value merchandise that send out telemetry data, tracking the package's traveling speed and conditions. Applying analytics to this data has the potential to largely reduce supply chain reaction times to avoid delays in shipments.

Answer 3

False

Question 4

Both reverse and closed-loop systems are important strategies that impact sustainability in a positive manner.

Question 5

"Green" initiatives are an important aspect of environmental sustainability.

Question 6

Experts recognize three "mega" themes among the game-changing supply chain technologies on the horizon: mobility, digitization, and artificial intelligence.

Question 7

Some SCM positions are evolving and taking on more importance. For example, the chief supply chain officer and other functional leaders are being required to act as strategists more than ever before.

Question 8

While the emerging trends of AI and automation will eliminate many jobs from the industry, new types of jobs will be created to support the use of these technologies.

Question 9

There is a strong feeling among some supply chain experts that the mitigation of risk is the best driver of sustainability initiatives.

Question 10

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

Question 11

Disruptive innovation refers to the belief that many emerging and developing markets (Brazil, India, China, and others) are driving innovation of simple, no-nonsense products and services that replicate more complex offerings available in the developed markets.

Question 12

Although "omni-channel" supply chains have developed in response to a continually increasing range of customer needs and preferences, this concept has had relatively little effect on logistics and supply chain networks.

Question 13

Central to an understanding of supply chain analytics is to recognize that one of the highest priorities at many organizations today is to take a giant leap from data to information, and then from information to understanding.

Question 14

Companies have discovered that there are no revenue opportunities to offset the costs in sustainability practices.

Question 15

Predictive analytics is the level that incorporates available data to answer questions such as what, where, and when certain supply chain activities, processes, or events are happening.

Question 16

While reverse flows were traditionally thought to incur extra, non-value-added cost, they are now widely viewed as creating opportunities for sustainability and even added service to customers.

Question 17

IBM Watson is a prescriptive analytics system that can help to understand data, learn from it, and reason through it.

Question 18

The Internet of Things (IoT) allows devices to communicate and interact with other devices over the Internet. Supply chain analytic devices and other applications are not yet connected to the IoT, but supply chain professionals may find opportunities to do so in the future.

Question 19

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

Question 20

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

Question 21

A closed-loop system manages:

A) green laws.
B) waste flow.
C) both forward and reverse flows.
D) recycling.

Question 22

Explain the supply chain analytics maturity model.

Question 23

Which one of the various stages of sophistication and robustness associated with supply chain analytics focuses on questions such as what is likely to happen, what are the likely trends, and what are the results if certain events occur?

A) Descriptive
B) Predictive
C) Prescriptive
D) Cognitive

Question 24

To what extent have the seven principles of supply chain management remained current? What are some of the major changes that have occurred since they were first developed?

Question 25

Which is not one of the seven principles of supply chain management

A) Source strategically
B) Customize the logistics network
C) Segment customers based on service needs
D) Standardize where feasible

Question 26

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 27

Explain the concept of reverse flows.

Question 28

Identify the top five workforce issues facing the supply chain industry. Provide recommendations for resolving at least one of these issues.

Question 29

Why is sustainability such a complex and challenging issue for organizations?

Question 30

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

Question 31

Google smart glasses are voice-controlled devices/computers equipped with GPS and motion sensors that interact with the Internet. A supply chain professional could use the built-in camera on the glasses to stream images to Google computers or to receive information in response to specific queries. This is an example of which major trend in digitization?

A) Artificial intelligence
B) Cloud computing
C) Augmented reality
D) Additive manufacturing

Question 32

Distinguish between frugal and disruptive innovation. Provide your own example of one of the two types of innovation.

Question 33

Which one is not one of the four requirements for cognitive systems?

A) Adaptive
B) Interactive
C) Iterative
D) Conducive

Question 34

Which one of the choices below is not one of the various stages and levels of sophistication and robustness that is associated with supply chain analytics?

A) Descriptive
B) Predictive
C) Indicative
D) Cognitive