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.

Accepted Answer

The statement correctly identifies that shippers see supply chain planning and network modeling and optimization as great areas of opportunity to leverage big data.

Question 2

Reverse flows in logistics have decreased.

Accepted Answer

There has been an increase in reverse logistics or reverse flows in recent years due to factors such as e-commerce returns, sustainability initiatives, and increased product complexity.

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.

Accepted Answer

Nike, like many companies, does use various technologies to track and manage its supply chain, but there is no public information suggesting they use active sensors in their merchandise for the purpose of sending out telemetry data related to traveling speed and conditions. Typically, companies use RFID tags for inventory management and GPS for tracking shipments, rather than embedding active sensors in individual high-value merchandise items for the detailed tracking described.

Question 4

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

Accepted Answer

Both reverse and closed-loop systems focus on reducing waste and resource use, thereby impacting sustainability positively. Reverse systems involve the reuse, refurbishment, or recycling of materials, while closed-loop systems involve designing products and processes with the intent of creating a circular system where waste is minimized and resources are continuously used. Both strategies are vital for achieving a more sustainable future.

Question 5

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

Accepted Answer

"Green" initiatives involve using environmentally friendly practices and resources, which are essential for environmental sustainability.

Question 6

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

Accepted Answer

The answer of Experts recognize three "mega" themes among the...

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.

Accepted Answer

This statement is true, as many companies are recognizing the strategic importance of their supply chain and are elevating the position of the chief supply chain officer and other functional leaders to focus more on strategic planning and decision-making.

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.

Accepted Answer

According to many industry experts and reports, while AI and automation may eliminate some traditional jobs, they will also create new types of jobs that support the implementation and use of these technologies. Therefore, the statement is true.

Question 9

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

Accepted Answer

By focusing on mitigating risk in the supply chain, companies can address issues such as climate change, environmental degradation, and social inequality, which can have significant impact on their operations and reputation. This approach can drive sustainability initiatives that promote long-term stability and resilience in supply chains.

Question 10

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

Accepted Answer

The first principle of supply chain management is to understand and prioritize customer needs and preferences, not just based on profit. While profitability is important, supply chain management also takes into account factors such as customer loyalty, market demand, and cost-to-serve.

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.

Accepted Answer

Disruptive innovation refers to a process where a smaller company with fewer resources is able to successfully challenge established incumbent businesses by targeting overlooked segments, offering a simpler, more convenient, or more affordable product or service that appeals initially to the most sensitive customers, eventually overtaking the mainstream market. It does not specifically refer to the innovation dynamics between emerging/developing and 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.

Accepted Answer

The statement is false. The development of omni-channel supply chains has had a significant effect on logistics and supply chain networks as they require more complex and flexible approaches for inventory management, order fulfillment, and transportation.

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.

Accepted Answer

This statement correctly describes the importance of moving beyond just collecting data and towards using analytics to gain valuable insights and understanding in supply chain management.

Question 14

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

Accepted Answer

Many companies have found revenue opportunities through implementing sustainable practices such as cost savings from energy efficiency measures, increased market demand for sustainable products, and potential brand loyalty from consumers who value sustainability.

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.

Accepted Answer

Predictive analytics uses available data to forecast future events or trends, answering questions like what is likely to happen, rather than just describing current or past events.

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.

Accepted Answer

This statement is true. Reverse flows can contribute to sustainability and provide added service to customers in many cases.

Question 17

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

Accepted Answer

IBM Watson is primarily known as a cognitive computing system or AI that can process and analyze vast amounts of data, understand natural language, and learn from interactions, but it is not specifically categorized as a prescriptive analytics system.

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.

Accepted Answer

Many supply chain analytic devices and applications are already connected to the IoT, enabling real-time data exchange and analytics to improve efficiency, visibility, and decision-making in supply chains.

Question 19

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

Accepted Answer

The seven principles of supply chain management were first introduced in the early 2000s and have been widely accepted and adopted by businesses. They continue to be relevant and valuable in today's supply chain operations.

Question 20

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

Accepted Answer

This principle emphasizes the importance of product customization or differentiation to meet the unique needs of local customers, which can result in increased customer satisfaction and competitive advantage. This can be achieved through localization of marketing, product design, and packaging, as well as local sourcing and production.

Quiz 15: Strategic Challenges and Change for Supply Chains