Question 1

Often companies must choose between a responsive supply chain and an efficient supply chain.This decision is based on __________.

Accepted Answer

The specific needs of customer segments should be the main factor in determining whether a company should prioritize responsiveness or efficiency in their supply chain. If customers require fast delivery and customized products, a responsive supply chain may be more valuable. If cost is a major concern for customers, an efficient supply chain may be more important.

Question 2

Supply chain and logistics managers play a large part in the manufacture of automobiles.It is estimated that logistics costs account for __________ percent of the retail price of a typical new car.

Accepted Answer

Logistics costs account for 25 to 30 percent of the retail price of a typical new car.

Question 3

Because its customers desire rapid delivery and a wide variety of customizable products,Dell made a conscious decision to use a(n)__________ supply chain to meet these requirements.

Accepted Answer

A responsive supply chain is characterized by the ability to quickly respond to changing customer demands and provide a high level of customization. This aligns with Dell's strategy of offering rapid delivery and customizable products to its customers.

Question 4

Walmart's marketing strategy is to be a reliable,lower-price retailer for a wide variety of mass consumption consumer goods.This strategy favors a(n)__________ designed to deliver products to consumers at the lowest possible cost.

Accepted Answer

Walmart's marketing strategy focuses on being a low-price retailer, which requires an efficient supply chain designed to deliver products to customers at the lowest cost possible. An efficient supply chain ensures that products are delivered quickly and at the lowest possible cost, allowing Walmart to offer lower prices to customers. Both integrated and responsive supply chains may be important for some retail strategies, but Walmart's focus on delivering products at a low cost more closely aligns with an efficient supply chain. A customer service supply chain may prioritize service over cost, which does not align with Walmart's strategy. A global supply chain may be important for a company with an international presence, but Walmart's focus is primarily on serving domestic markets.

Question 5

IBM has set about to build a single __________ that would handle raw material procurement,manufacturing,logistics,customer support,order entry,and customer fulfillment across all of IBM-something that had never been done before.

Accepted Answer

The description of handling raw material procurement, manufacturing, logistics, customer support, order entry, and customer fulfillment across all of IBM indicates an integrated supply chain system. The other options such as extranet computer system, customer service department, intranet supply network system, and global procurement network do not cover all the mentioned areas in the question.

Question 6

The practice that involves unloading products from suppliers,sorting products for individual stores,and quickly reloading products on trucks that will deliver the products to specific stores is referred to as __________.

Accepted Answer

The practice described in the question - unloading products, sorting them for individual stores, and quickly reloading them on trucks - is known as cross-docking. Cross-docking is a logistics strategy that eliminates the need for a warehouse or distribution center to store inventory, which can save time and reduce costs. Just-in-time delivery (A) is a strategy that involves delivering products right when they are needed, without storing excess inventory. Intermodal distribution (B) involves using multiple modes of transportation (such as trucks, trains, and ships) to move goods. Immediate Response System (C) is not a commonly used term in logistics, and piggy-backing (D) refers to the practice of loading one truck onto another truck or train for transport.

Question 7

Which statement regarding efficient supply chains is most accurate?

Accepted Answer

Efficient supply chains often operate with relatively low inventory levels as this reduces costs associated with holding excess inventory and frees up capital. This is achieved through accurate demand forecasting, efficient manufacturing processes, and fast transportation methods.

Question 8

IBM is one of the world's great business success stories because of its ability to reinvent itself to satisfy shifting customer needs in a(n)__________ global marketplace.

Accepted Answer

The word "reinvent" implies a need for adaptability and response to changes in the marketplace, which is characteristic of a dynamic environment. The other choices (stagnant, inert, lethargic, apathetic) all suggest a lack of movement or responsiveness, which is not consistent with IBM's success.

Question 9

Walmart made a conscious decision to use a(n)__________ supply chain in order to best meet the needs of its consumers.

Accepted Answer

Walmart's marketing strategy is to be a reliable,lower-price retailer for a wide variety of mass consumption consumer goods.This strategy favors an efficient supply chain designed to deliver products to 245 million consumers each week at the lowest possible cost.

Question 10

The goals to be achieved by a firm's marketing strategy determine whether its supply chain needs to be more __________ in meeting customer requirements.

Accepted Answer

If a firm's marketing strategy is focused on being highly responsive to customer demands, then its supply chain needs to be efficient in meeting those requirements quickly and accurately. A focus on cost-effectiveness may prioritize minimizing expenses for the supply chain, while a goal to expand broadly may mean prioritizing reach over responsiveness. Central location and geographic distribution may be relevant factors in designing a supply chain, but they are not directly related to the marketing strategy goals of a firm.

Question 11

The three steps used in choosing a supply chain include: (1)understand the customer; (2)understand the supply chain; and (3)__________.

Accepted Answer

The third step in choosing a supply chain is to harmonize it with the marketing strategy. This involves finding a supply chain that aligns with the company's marketing mix and goals while also meeting the needs of the customer and understanding the logistics involved.

Question 12

What is the first step in choosing the right supply chain?

Accepted Answer

Understanding the customer is the first step in choosing the right supply chain because it allows companies to identify the specific needs and demands of their target market, which should inform decisions about supply chain design and management.

Question 13

Dell has adopted a(n)__________ supply chain strategy to better serve its customers.

Accepted Answer

Dell has adopted a responsive supply chain strategy, which emphasizes quick response times and flexibility to meet customer demands. This approach allows Dell to deliver customized products quickly and efficiently, maximizing customer satisfaction.

Question 14

The choice of a supply chain involves three steps: (1)understand the customer; (2)__________; and (3)harmonize the supply chain with the marketing strategy.

Accepted Answer

The answer of The choice of a supply chain involves...

Question 15

The choice of a supply chain follows from a clearly defined marketing strategy and involves three steps: (1)_________; (2)understand the supply chain; and (3)harmonize the supply chain with the marketing strategy.

Accepted Answer

The answer of The choice of a supply chain follows...

Question 16

Which statement regarding responsive supply chains is most accurate?

Accepted Answer

Responsive supply chains rely heavily on real-time data and information technology to quickly respond to changes in demand or supply, optimize inventory levels, and improve efficiency. This allows them to be more agile and adaptable to changing market conditions, customer preferences, and supply disruptions. While inventory optimization is an important aspect of responsive supply chains, they often rely on smaller, more strategically located warehouses and use faster modes of transportation to minimize lead times and meet short delivery windows.

Question 17

In the automobile industry,the supply chain manager is responsible for translating __________ into actual orders and arranging for delivery dates.

Accepted Answer

The answer of In the automobile industry,the supply chain manager...

Question 18

IBM has adopted a(n)__________ supply chain strategy to better serve its customers.

Accepted Answer

The answer of IBM has adopted a(n)__________ supply chain strategy...

Question 19

Which statement regarding responsive supply chains is most accurate?

Accepted Answer

Responsive supply chains prioritize speed and flexibility, which often requires the use of more expensive express transportation options. This allows for quick delivery and rapid response to changes in demand or supply. The other answer choices are either inaccurate or incomplete in describing responsive supply chains.

Question 20

Which statement regarding efficient supply chains is most accurate?

Accepted Answer

Cross-docking is a process in which materials are unloaded from incoming trucks and then immediately loaded onto outbound trucks with little or no storage time in between. This helps to reduce inventory costs and improve the speed of delivery, which are both important factors in an efficient supply chain. Options A, B, and C are not necessarily characteristics of efficient supply chains and may actually increase costs. Option E contradicts the concept of economies of scale, which involves producing large quantities of standardized products to reduce per-unit costs.

Quiz 12: Managing Marketing Channels and Supply Chains

Often companies must choose between a responsive supply chain and an efficient supply chain.This decision is based on __________.

Supply chain and logistics managers play a large part in the manufacture of automobiles.It is estimated that logistics costs account for __________ percent of the retail price of a typical new car.

Because its customers desire rapid delivery and a wide variety of customizable products,Dell made a conscious decision to use a(n) __________ supply chain to meet these requirements.

Walmart's marketing strategy is to be a reliable,lower-price retailer for a wide variety of mass consumption consumer goods.This strategy favors a(n) __________ designed to deliver products to consumers at the lowest possible cost.

IBM has set about to build a single __________ that would handle raw material procurement,manufacturing,logistics,customer support,order entry,and customer fulfillment across all of IBM-something that had never been done before.

The practice that involves unloading products from suppliers,sorting products for individual stores,and quickly reloading products on trucks that will deliver the products to specific stores is referred to as __________.

Which statement regarding efficient supply chains is most accurate?

IBM is one of the world's great business success stories because of its ability to reinvent itself to satisfy shifting customer needs in a(n) __________ global marketplace.

Walmart made a conscious decision to use a(n) __________ supply chain in order to best meet the needs of its consumers.

The goals to be achieved by a firm's marketing strategy determine whether its supply chain needs to be more __________ in meeting customer requirements.

The three steps used in choosing a supply chain include: (1) understand the customer; (2) understand the supply chain; and (3) __________.

What is the first step in choosing the right supply chain?

Dell has adopted a(n) __________ supply chain strategy to better serve its customers.

The choice of a supply chain involves three steps: (1) understand the customer; (2) __________; and (3) harmonize the supply chain with the marketing strategy.

The choice of a supply chain follows from a clearly defined marketing strategy and involves three steps: (1) _________; (2) understand the supply chain; and (3) harmonize the supply chain with the marketing strategy.

Which statement regarding responsive supply chains is most accurate?

In the automobile industry,the supply chain manager is responsible for translating __________ into actual orders and arranging for delivery dates.

IBM has adopted a(n) __________ supply chain strategy to better serve its customers.

Which statement regarding responsive supply chains is most accurate?

Which statement regarding efficient supply chains is most accurate?