Question 1

The flows in supply chains consist of _____.&#10;A) materials&#10;B) information&#10;C) finance&#10;D) all of these options

Accepted Answer

The flows in supply chains consist of materials, information, and finance, making option D the correct answer. The materials flow involves the physical goods or products being transported from raw material suppliers to manufacturers, then to distributors, and ultimately to the end customer. The information flow includes data and communication exchanged between various supply chain partners, such as orders, forecasts, and inventory levels. The finance flow involves payments and financial transactions throughout the supply chain, including invoices, payments, and credit terms.

Question 2

Which of the following is a problem associated with supply chain friction?&#10;A) Poor customer service&#10;B) High inventory costs&#10;C) Loss of revenue&#10;D) All of these options

Accepted Answer

Supply chain friction can result in all of these problems, including poor customer service, high inventory costs, and loss of revenue. For example, if there are delays or disruptions in the supply chain, it can lead to stockouts or delays in delivery to customers, resulting in poor customer service. In addition, if there are excess inventory costs due to inefficiencies or bottlenecks in the supply chain, it can result in higher costs and ultimately loss of revenue.

Question 3

Electronic data interchange is a communication standard that enables the electronic transfer of routine documents between business partners.

Accepted Answer

Electronic data interchange (EDI) is a widely used communication standard for the electronic exchange of routine business documents between trading partners.

Question 4

Which of the following statements about Amazon's new supply chain management system is NOT true?&#10;A) It enabled Amazon to control delivery along the entire route to the local post office for Sunday delivery.&#10;B) It reduced the workload.&#10;C) It reduced Amazon's dependence on parcel-delivery companies.&#10;D) It reduced the number of steps in the system.

Accepted Answer

The answer of Which of the following statements about Amazon's...

Question 5

A demand chain refers to the flow of materials, information, money, and services from suppliers to the end customer.

Accepted Answer

A demand chain focuses on the demand of the customer, driving the flow of products and services from the supplier through the manufacturer to the end customer, whereas the description provided aligns more closely with a supply chain.

Question 6

Which of the following statements about the teak industry is true?&#10;A) Most teak farms use current knowledge about how to sustainably manage a forest.&#10;B) Most teak farms have been well connected to the global supply chain throughout history.&#10;C) Most teak farms are independently owned and operate based on traditional practices.&#10;D) None of these options

Accepted Answer

Most teak farms are indeed independently owned and often operate based on traditional practices rather than modern, industrial methods. This is due to the nature of teak cultivation, which can be labor-intensive and is often carried out in regions where traditional methods are preferred or more feasible.

Question 7

Which of the following statements about EDI is NOT true?&#10;A) It is inflexible.&#10;B) It increases productivity.&#10;C) It increases paper usage.&#10;D) It minimizes data entry errors.

Accepted Answer

EDI actually reduces paper usage as it eliminates the need for paper-based documents and transactions.

Question 8

A company's suppliers, suppliers' suppliers, and the processes for managing them is known as the _____.&#10;A) internal supply chain&#10;B) external supply chain&#10;C) upstream portion of the supply chain&#10;D) downstream portion of the supply chain

Accepted Answer

The term "upstream portion of the supply chain" refers to a company's suppliers, suppliers' suppliers, and the processes for managing them. This segment of the supply chain is responsible for the acquisition of raw materials, parts, and other inputs that are required to produce a company's finished products. The downstream portion of the supply chain, on the other hand, refers to the processes involved in getting the finished products to customers, which includes warehousing, shipping, and distribution. Internal and external supply chain refer to the entirety of the supply chain, which includes both upstream and downstream portions.

Question 9

In an interorganizational information system (IOS), information flows within the organization.

Accepted Answer

In an interorganizational information system, information flows between different organizations, not just within a single organization.

Question 10

_____ are the physical products, raw ingredients, and supplies that flow along a supply chain.&#10;A) Reverse flows&#10;B) Financial flows&#10;C) Material flows&#10;D) Information flows

Accepted Answer

Material flows refer to the physical products, raw ingredients, and supplies that move within a supply chain. Reverse flows refer to goods or materials flowing back up the supply chain, while financial flows refer to the movement of payments and money. Information flows refer to the exchange of data and knowledge between different parties within the supply chain.

Question 11

The primary goal of extranets is to:&#10;A) foster collaboration between and among business partners.&#10;B) provide security for corporate intranets.&#10;C) provide effective communication within corporate intranets.&#10;D) enable business partners to better plan mergers and acquisitions.

Accepted Answer

The answer of The primary goal of extranets is to:&#10;A)...

Question 12

Munchery chefs use programmable, Wi-Fi-enabled smart ovens to prepare meals in bulk while working a traditional 9-5 schedule.

Accepted Answer

The answer of Munchery chefs use programmable, Wi-Fi-enabled smart ovens...

Question 13

Vertical integration is a business strategy in which a company purchases its upstream suppliers to ensure that its essential supplies are available as soon as the company needs them.

Accepted Answer

The answer of Vertical integration is a business strategy in...

Question 14

The higher the inventory velocity, the less satisfied the customer will be.

Accepted Answer

The answer of The higher the inventory velocity, the less...

Question 15

The push model is most closely associated with mass production.

Accepted Answer

The answer of The push model is most closely associated...

Deck 13: Supply Chain Management