Deck 16: Strategic Challenges and Change for Supply Chains

Question 1

The "facility utilization" strategy places a high priority on making sure that all supply chain facilities create value only for the individual organizations.

Answer 1

False

Question 2

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

Answer 2

True

Question 3

The primary goal of a differentiation strategy is make your firm's products appear to be different than your competitors' products.

Answer 3

False

Question 4

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

Question 5

Outsourcing is a way to reduce asset investment as well as to address strategic and customer- focused objectives.

Question 6

When a firm "sources strategically," it is
A) working together with customers and suppliers in a creative, positive way.

A) seeking least cost vendors.
B) matching product and raw material flows to minimize transportation costs.
C) reacting to current competitive situations.

Question 7

It is anticipated that software as a service (SaaS), GPS and Cloud Computing technologies should assist significantly in achieving enhanced supply chain flexibility and facilitating network-type solutions.

Question 8

Decision making is part of the Cycle Time Reduction strategy.

Question 9

CEOs view SCM initiatives as being primarily focused on cost reduction.

Question 10

For businesses, collaboration skills are very important to develop.

Question 11

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

Question 12

The most compelling "financial strategy" is the pursuit of cost reduction and profit improvement.

Question 13

Key performance indicators (KPIs) that require ownership and commitment to the objectives by all involved parties are needed for the success of relationship-based strategies.

Question 14

Corporate leaders
A) already understand the importance of supply chain excellence.

A) are seeking to reduce corporate assets which could have serious implications for supply chain managers.
B) are managing on a quarterly results because of Wall Street expectations.
C) do not clearly understand the importance of supply chain excellence.

Question 15

As a result of the economic recession that occurred in the 2008-2010 timeframe, growth in supply chain technology has stagnated.

Question 16

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

Question 17

When a firm "customizes" their supply chain, it is

A) trying to improve asset utilization.
B) tailoring the chain to be responsive to the needs of individual customer segments.
C) responding to competitive situations.
D) revising its supply chain in light of current economic conditions.

Question 18

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

Question 19

An effective time-based strategy should consider the tradeoffs between transportation, inventory, and warehousing costs.

Question 20

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 Outsourcing Strategy to Maximize Asset Utilization
D) Adopt Channel-Spanning Performance Measures

Question 21

Name and briefly discuss the global forces that are shaping the business landscape, and the significance of each to the domain of supply chain management.

Question 22

Time-Reduction Logistics Initiatives

A) require a total re-evaluation of supply chain strategies.
B) could change pull to push.
C) could change push to pull
D) have not found as much interest as other strategies.

Question 23

Time-based strategies could affect

A) the length of the cash to cash cycle.
B) location selections.
C) CEOs' understanding of supply chain management.
D) the seven principles.

Question 24

Facility Utilization and Equipment Utilization Strategies are

A) complementary.
B) contradictory.
C) unrelated.
D) difficult to put in place without effective collaboration.

Question 25

Which of the following is not part of how world class collaboration skills are developed?

A) Define the benefits of collaboration
B) Make the investment
C) Determine how the benefits will be shared
D) Dedicate "A" players

Question 26

The most compelling financial strategy is

A) profit improvement.
B) cash to cash cycle management.
C) operational efficiency.
D) inventory productivity.

Question 27

CEOs view SCM initiatives

A) as an area which can be left to second tier executives.
B) being primarily focused on cost reduction.
C) being primarily focused on top line growth.
D) being more of a financial concern.

Question 28

A 4PL is

A) a 3PL owned by transportation related firm.
B) a 3PL located in a foreign trade zone.
C) a 3PL looked to for providing competencies related to knowledge availability, information technology, and skills in forming and sustaining supply chain relationships
D) a group of 3PLs owned by the company.

Question 29

Questions regarding financial vs. non-financial benefits of collaboration include

A) whether collaboration pays for itself.
B) making sure that each firm uses the same type of accounting systems and fiscal year reporting.
C) that KPIs for involved parties should be widely distributed among the partners.
D) a reason for undertaking this task, as it is quite difficult.

Question 30

How would you develop world-class collaboration skills?

Question 31

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

Question 32

There are four financial strategies. Name them, and pick two to discuss in more details.

Question 33

There are ________ high-priority areas in which it is important to develop effective logistics and supply chain strategies

A) four
B) five
C) six
D) seven

Question 34

Discuss collaboration, and describe the elements of successful collaboration.

Question 35

Explain differentiation strategies in general, and describe three such strategies in detail.

Question 36

This information technology is a shelf-level collaboration solution between consumer goods manufacturers and retailers, wherein the manufacturers pull in the point-of-sale (POS) data and other data that minimizes the bullwhip effect.

A) Warehouse technology
B) Enterprise Resource Planning (ERP)
C) Radio Frequency Identification (RFID)
D) Demand Signal Depositories

Question 37

Discuss the impact of collaboration on business processes, and the financial versus non- financial benefits of collaboration.

Question 38

Collaboration occurs when

A) a firm seeks advantages by sourcing with critical partners.
B) companies leverage each other on an operational basis so that together they perform better than they did separately.
C) many logistics or supply chain improvements can be made within one firm by eliminating "stovepipes".
D) senior executives focus on supply chain economies to improve their firms' financials.

Question 39

What is the prevailing attitude of CEOs towards supply chain management? What can supply chain executives do to attempt to change this perception?