Question 1

According to the text,the FOUR important elements of the supply chain are:​

Accepted Answer

B) Supply, operations, logistics, and integration are considered key elements of the supply chain. These components encompass the end-to-end process of delivering a product or service, from the initial supply of materials, through operations and manufacturing, to the logistics of distribution, all while ensuring seamless integration and coordination across these functions.

Question 2

Some of the e-commerce related services that transportation companies offer nowadays to remain competitive include allowing customers to plan itineraries,get freight quotes,and track shipments online.

Accepted Answer

Many transportation companies now offer e-commerce services such as online itinerary planning, freight quotes, and shipment tracking to stay competitive in the industry.

Question 3

Which of the following is a reverse logistics activity:

Accepted Answer

Recycling products and components is a reverse logistics activity that involves the collection and recovery of reusable materials from the end of the product's life cycle for refurbishing, recycling or disposal. It's the process of sending goods back up the supply chain, which is opposite to the traditional direction. The other options are not reverse logistics activities. Delivering finished goods to your customer is an outbound logistics activity, Developing a collaborative relationship with your supplier is a strategic activity, and Managing the quality of products is a quality control activity.

Question 4

Which of the following statement is TRUE of many large firms today?

Accepted Answer

Many large firms today are implementing all three strategies of selling-off business units, creating alliances or strategic partnerships with suppliers, and paying closer attention to what their direct customers really think of the goods and services bought. These strategies help the firms to focus on their core capabilities, reduce operational costs, and improve customer satisfaction.

Question 5

Which of the following is strategy usually employed by lean organizations in an effort to ensure continued quality compliance among suppliers and with internal production facilities?

Accepted Answer

Lean organizations often employ Six Sigma methodologies to ensure continued quality compliance among suppliers and internal production facilities. This involves monitoring and improving key production processes to minimize defects and reduce variation in output quality. MRP II (Materials Requirements Planning) is a manufacturing-focused approach to planning and scheduling. 3PL (Third-Party Logistics) refers to outsourcing logistics functions to external providers. CAPS (Corporate Automated Purchasing System) is a procurement system for purchasing goods and services. While these approaches may be useful for other aspects of supply chain management, they do not necessarily address quality compliance in the same way that Six Sigma does.

Question 6

Transportation management,customer relationship management,distribution network,and service response logistics are all important issues that are most closely related to:

Accepted Answer

These issues are all related to the management of logistics, which involves the planning, implementation, and control of the movement of goods, services, and information from the point of origin to the point of consumption. Therefore, the best choice is logistics.

Question 7

One operational method for managing inventory is the implementation of a software system which can be referred to as:​

Accepted Answer

MRP is a software system that uses computer algorithms to manage and track inventory levels, demand, and supply chain activities. This system helps to ensure that businesses have the necessary materials, resources, and products to meet customer demand while minimizing inventory costs. The other options (B, C, and D) are not commonly used terms in the context of inventory management software.

Question 8

According to the textbook,the order of product & service flow is as follows:​

Accepted Answer

The correct flow starts with the raw material supplier, then moves to the component manufacturer who uses these materials to create parts. These parts are then sent to the end product manufacturer who assembles the final product. The product is then distributed through wholesale distributors to retailers, and finally, it reaches the end-product consumer. This sequence represents a typical supply chain in manufacturing and distribution.

Question 9

According to the textbook,conditions which must be present for successful supply chain management include:

Accepted Answer

Cooperation among firms is essential for successful supply chain management. This involves collaboration and communication among different entities involved in the supply chain, including suppliers, manufacturers, distributors, and retailers. Corporate contracts regarding performance expectations can also be helpful, but they are not sufficient on their own. Short-term company focused performance and vertical integration are not necessarily requirements for successful supply chain management.

Question 10

International intermediaries can provide shipping,consolidation,and other import and export services.Some examples of these international intermediaries include: foreign freight forwarders,NVOCCs,FTZs,and TOFCs.

Accepted Answer

TOFCs (Trailer on Flat Car) are not international intermediaries; they are a type of intermodal freight transport.

Question 11

Which of the following statements is TRUE?

Accepted Answer

Strategic partnerships are a key aspect of supply chain management, as they help to build trust and collaboration among supply chain partners, allowing for more efficient and effective supply chain operations. Option A is false, as supply chain management has been used in various industries beyond auto manufacturing. Option C is false, as purchasing is just one step in the supply chain, and not necessarily the final or most difficult one. Option D is false, as service response logistics refers to the delivery of services through various channels, rather than just digital distribution.

Question 12

Lean production is typically associated with which of the following company's production systems?

Accepted Answer

Lean production, also known as the Toyota Production System, is a manufacturing philosophy developed by Toyota in the 1940s. It focuses on eliminating waste, improving efficiency, and continuously improving processes. Therefore, it is best associated with Toyota's production system.

Question 13

The following supply chain concept was introduced in the 1990's in an attempt to reduce waste and increase performance:

Accepted Answer

Business Process Reengineering (BPR) was introduced in the 1990's as a management approach that aimed to radically redesign business processes in order to achieve improvements in critical areas such as cost, quality, service, and speed. BPR was seen as a way to reduce waste and increase performance by challenging the way things have always been done and finding new and better ways to work.

Question 14

Encouraging or helping a firm's suppliers to perform in a desired fashion can be referred to as:

Accepted Answer

The term for encouraging or helping a firm's suppliers to perform in a desired fashion is known as supplier management. Progressive procurement is a concept related to continuous improvement in procurement processes. Right-shoring refers to selecting the most appropriate location for production or outsourcing activities. Supply chain performance management involves measuring and improving the performance of the entire supply chain, including suppliers, distributors, and logistics providers. However, supplier management specifically addresses the management of supplier performance.

Question 15

The following is an example of the bullwhip effect:

Accepted Answer

The bullwhip effect refers to the magnification of demand fluctuations as they move up the supply chain from the customer to the manufacturer. In this scenario, Barkley's incorrectly anticipates consumer demand, which causes stockouts at popular retailers. This creates a situation where the retailers overreact and over-order to compensate, which leads to inflated demand estimates in the supply chain. As a result, the bullwhip effect is observed, where the fluctuation of demand is magnified as it moves up the supply chain.

Question 16

Which of the following would be considered a third party provider?

Accepted Answer

A third-party provider is an entity that provides a specific service or support to the primary business but is not directly involved in the production or distribution of the core products. In this context, a firm that leases storage warehousing (C) acts as a third-party provider by offering storage solutions without being directly involved in the manufacturing or supply chain processes of the primary business. Raw materials suppliers, intermediate component manufacturers, and end product manufacturers are all integral parts of the supply chain directly involved in the production or supply of goods, not third-party services.

Question 17

Which of the following acronyms is NOT paired with its correct "translation?"​

Accepted Answer

MRP stands for "Materials Requirements Planning" or "Manufacturing Resource Planning," not "Manufacturing Responsiveness and Planning."

Question 18

Assembly or production of finished products,producing the right amount of product,and ensuring that finished products meet specific quality,cost,and customer service requirements are all important issues that are most closely related to:

Accepted Answer

These issues are all related to the operations function of a business, which is responsible for the actual production and manufacture of goods or services. Purchasing primarily deals with acquiring the necessary inputs or materials for production, integration focuses on coordinating the different functions within a business, and distribution is concerned with delivering the finished products to customers.

Question 19

Which of the following can be classified as a 3PL?

Accepted Answer

A 3PL (third-party logistics) provider offers a variety of logistics services, including warehousing, transportation, and customs clearance. Therefore, all of the given choices can be classified as a 3PL.

Question 20

A factor that encourages and enables firms to work together more effectively than ever before is

Accepted Answer

Communication technologies such as email, messaging, video conferencing, and file sharing platforms make it easier for companies to collaborate and work together effectively even if they are located in different parts of the world. This allows for more efficient and streamlined production, faster decision-making, and reduced costs.

Quiz 1: Introduction to Supply Chain Management