Deck 15: Strategic Challenges and Change for Supply Chains

Question 1

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

Answer 1

False

Question 2

Reverse flows in logistics have decreased.

Answer 2

False

Question 3

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

Answer 3

True

Question 4

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

Question 5

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.

Question 6

Seamless order entry is not that important to the success of omni-channel retailing.

Question 7

A successful approach in overcoming organizational resistance is to effectuate collaboration in the supply chain.

Question 8

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 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

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 11

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

Question 12

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

Question 13

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.

Question 14

An analysis of the benefits of a reverse or return flows program is dependent upon the development of the true costs associated with such a program and comparing them to a realistic measure of the benefits.

Question 15

Corporate executives are already well aware of the impact supply chain management can have on their businesses.

Question 16

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

Question 17

For an omni-channel retailer, the critical issue is not where inventory is positioned within the network but whether it is available to fill an order, regardless of its origin.

Question 18

The reason retailers are so successful with the omni-channel is because the channels provide so many different views of the customer.

Question 19

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

Question 20

With all of the new technology and game-changing ideas, the future of omni-channel does not look like it will take off.

Question 21

A closed-loop system manages:

A) green laws.
B) waste flow.
C) both forward and reverse flows.
D) recycling.
E) none of these answers.

Question 22

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
E) None of these answers

Question 23

Some European countries have passed green laws, which means that companies doing business in these countries must be cognizant of regulations and policies regarding sustainability.

Question 24

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

Question 25

How is the role of supply chain professionals evolving? What skills will managers need in the future to succeed in this profession?

Question 26

Distinguish between a value stream and a waste stream for reverse flows.

Question 27

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 28

What is it called when consumers can place an order with Amazon for groceries?

A) Amazon Effect
B) Amazon Fresh
C) Amazon Flex
D) Amazon Food
E) None of the answers

Question 29

Why is sustainability such a complex and challenging issue for organizations? How can they simplify these challenges from a supply chain perspective?

Question 30

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 31

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
E) None of these answers

Question 32

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

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

Question 33

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 34

What strategies and steps can organizations pursue to combat the SCM talent shortage?

Question 35

What special challenges and opportunities are presented for reverse flows by globalization?