Question 1

Chestnut Inc. ,an American retail company,has developed a supply-chain network that maps out a production process from beginning to end,including purchasing,production,warehousing,transportation,and inventory.In which of the following ways can it optimize its supply chain?
A)By adopting global branding
B)By mass customization
C)By applying data analytics
D)By outsourcing

Accepted Answer

By applying data analytics, Chestnut Inc. can analyze the efficiency and effectiveness of its supply chain network and identify areas for improvement. It can use data to make informed decisions and optimize its purchasing, production, warehousing, transportation, and inventory processes. Adopting global branding, mass customization, or outsourcing may not necessarily optimize its supply chain network.

Question 2

Neptune Inc. ,a business consulting firm,analyzes extremely large data sets to uncover statistical patterns,trends,and associations that might otherwise go unnoticed because of the volume of data.Given this information,it can be said that Neptune uses _____.
A)a datagram
B)big data
C)metadata
D)raw data

Accepted Answer

The description of Neptune Inc. using extremely large data sets points to the use of big data. Option A is incorrect because a datagram is a unit of data transmitted over a network. Option C is incorrect because metadata refers to data that describes other data. Option D is incorrect because raw data is unprocessed and unanalyzed data.

Question 3

Do you think a firm can optimize its supply chain by applying data analytics? Give reasons to support your answer.

Accepted Answer

The answer of Do you think a firm can optimize...

Question 4

Asterisk Inc. ,a car manufacturing company,wants to have an efficient and globally coordinated supply chain.It can achieve this by using:
A)a market basket analysis.
B)a Likert scale.
C)Internet-based applications.
D)PEST analysis tools.

Accepted Answer

Internet-based applications can help Asterisk Inc. to have real-time tracking of inventory, streamline communication with suppliers, and optimize logistics operations. This can lead to an efficient and globally coordinated supply chain. Market basket analysis, Likert scales, and PEST analysis tools are not directly related to supply chain coordination and optimization.

Question 5

Do you think making products or components in-house can be disadvantageous to a firm? Give reasons to support your answer.

Accepted Answer

The answer of Do you think making products or components...

Question 6

Which of the following has become critical for supply-chain managers to ensure reliability and keep costs down while simultaneously monitoring the overall operation of the global supply chain?
A)Split testing
B)Cognitive geography
C)Virtual reality
D)Data analytics

Accepted Answer

Data analytics has become critical for supply-chain managers to ensure reliability and keep costs down while simultaneously monitoring the overall operation of the global supply chain. Data analytics allows for the analysis of large amounts of data, identifying patterns and trends that can be used to optimize operations and make informed decisions.

Question 7

Do you think while making decisions about production location,a firm must take into consideration the price of its product compared to the product's weight and volume? Give reasons to support your answer.

Accepted Answer

The answer of Do you think while making decisions about...

Question 8

Do you think global procurement can sometimes be disadvantageous to a firm? Give reasons to support your answer.

Accepted Answer

The answer of Do you think global procurement can sometimes...

Question 9

_____ has been used to analyze epidemics,design more efficient cities,predict where crimes are most likely to occur,and even forecast the results of Supreme Court rulings.
A)Robotics
B)Virtual reality
C)Cloud computing
D)Big data

Accepted Answer

The use of big data has been applied in various fields including epidemiology, urban planning, crime analysis, and legal predictions.

Question 10

Fulcrum Inc. ,an American consumer electronics company,uses data analytics to continually collect information from all its global suppliers and put that information to use immediately to make necessary changes in its production processes.Given this information,it can be said that by using data analytics,Fulcrum can:
A)use the same pricing strategy in all its markets.
B)qualify for lower tariffs in foreign markets by reclassifying its products.
C)improve its understanding of the inventories that exist across countries.
D)use the same mix of marketing strategies in its foreign and domestic markets.

Accepted Answer

By using data analytics to collect information from all its global suppliers, Fulcrum is able to improve its understanding of the inventories that exist across countries. This information can then be used to make necessary changes in its production processes. However, it does not necessarily allow the company to use the same pricing, reclassify its products for lower tariffs, or use the same mix of marketing strategies in its foreign and domestic markets.

Question 11

Cumulus Inc. ,a clothing company,has implemented data analysis within its supply chain.It can be said that by using data analysis in its supply chain,Cumulus can:
A)use the same mix of marketing strategies in its foreign and domestic markets.
B)take less time from order to delivery.
C)qualify for lower tariffs in foreign markets by reclassifying its products.
D)use the same pricing strategy in all its markets.

Accepted Answer

By using data analysis in supply chain, Cumulus can reduce the time taken from order to delivery by optimizing their inventory, transportation routes, and manufacturing processes. It has nothing to do with marketing strategies, tariffs or pricing strategy.

Question 12

Clive Inc. ,an American software development company,uses a technology that helps it collate all relevant information into a single database,represent all business functions in a module,and provide access to data in real time.Given this information,it can be said that Clive uses a(n)_____.
A)Likert scale
B)PEST analysis tool
C)enterprise resource-planning system
D)just-in-time system

Accepted Answer

The technology described in the question is characteristic of an enterprise resource-planning (ERP) system, which integrates all aspects of a company's operations and provides real-time access to data. The other options (A, B, and D) are not relevant to the given information.

Question 13

_____ has opened a world of opportunity for supply-chain managers,giving them the freedom to produce each component of a product in the best location.
A)Commodification
B)Subsidization
C)Globalization
D)Nationalization

Accepted Answer

Globalization has enabled supply-chain managers to locate the production of each component of a product in the optimal location, thus providing greater flexibility and opportunity in the supply chain.

Question 14

Krystal Inc. ,a multinational software development company,uses an enterprise resource-planning (ERP)system.It can be said that the ERP system can enable Krystal to:
A)use the same mix of marketing strategies in its foreign and domestic markets.
B)standardize its processes to improve control over its products.
C)push products to customers by using the just-in-time manufacturing system.
D)select which language to apply,which nation's accounting standards to follow,and which currency to use.

Accepted Answer

The answer of Krystal Inc. ,a multinational software development company,uses...

Question 15

Which of the following firms is most likely using supply-chain management effectively?
A)Galaxy Inc. ,which uses its supply chain to maintain its reputation as an ethical organization
B)Herald Inc. ,which uses its supply chain to produce low-quality,low-cost products
C)Topaz Inc. ,which uses its supply chain to reduce the touchpoints between its customers and its employees
D)Carter Inc. ,which uses its supply chain to produce small batches of products to initiate planned obsolescence

Accepted Answer

Galaxy Inc. is using supply-chain management effectively by maintaining its reputation as an ethical organization. This indicates that the company is focusing on responsible sourcing, fair labor practices, and sustainable production methods, which are becoming increasingly important to consumers. This approach can also help the company to reduce costs, improve efficiency, and mitigate risks in its supply chain. In contrast, the other options either prioritize low cost, reduced customer engagement, or planned obsolescence, which can all undermine long-term success and reputation.

Question 16

Justify the argument that supply chains and their management are crucial for success in today's business world.

Accepted Answer

The answer of Justify the argument that supply chains and...

Question 17

_____ can help a firm implement an exact formula for procuring materials in the most efficient,cost-effective way possible and can update variables in real time to compensate for any changes in conditions.
A)Codetermination
B)Data analytics
C)Outsourcing
D)Mass customization

Accepted Answer

Data analytics is the best choice as it can help a firm implement an exact formula for procuring materials in the most efficient, cost-effective way possible and can update variables in real time to compensate for any changes in conditions. Data analytics can analyze large amounts of data to identify patterns, forecast demand, optimize inventory levels, and reduce supply chain costs. Codetermination, outsourcing, and mass customization may also have benefits for businesses, but they are not directly related to procuring materials in the most efficient, cost-effective way possible.

Question 18

_____ perform any number of disparate functions and enable companies to coordinate data,schedules,performance metrics,and plans in real time.
A)Likert scales
B)Cloud-based applications
C)Just-in-time manufacturing systems
D)PEST analysis tools

Accepted Answer

Cloud-based applications are designed to perform countless different functions and enable companies to coordinate data, schedules, performance metrics, and plans in real-time. These applications are hosted remotely and accessible from anywhere with an internet connection, making them a convenient and efficient solution for businesses of all sizes. Conversely, Likert scales, Just-in-time manufacturing systems, and PEST analysis tools all serve specific purposes and do not provide the same level of comprehensive functionality as cloud-based applications.

Question 19

Do you think the decision to outsource and/or offshore some aspect of a firm's operations can have major strategic consequences for the firm? Give reasons to support your answer.

Accepted Answer

The answer of Do you think the decision to outsource...

Question 20

Mantle Inc. ,a consumer electronics company,wants to expand its customer base.Which of the following can help Mantle analyze and predict consumer behavior?
A)Big data
B)Virtual reality
C)A Likert scale
D)A Gantt chart

Accepted Answer

Big data can provide Mantle with a vast amount of information on consumer behavior, including purchasing habits, preferences, and trends. This information can be analyzed and used to predict future consumer behavior, allowing Mantle to tailor their marketing and product strategies accordingly. Virtual reality, a Likert scale, and a Gantt chart are not directly related to consumer behavior analysis and prediction.

Quiz 18: Global Operations and Supply-Chain Management

Chestnut Inc. ,an American retail company,has developed a supply-chain network that maps out a production process from beginning to end,including purchasing,production,warehousing,transportation,and inventory.In which of the following ways can it optimize its supply chain?

Neptune Inc. ,a business consulting firm,analyzes extremely large data sets to uncover statistical patterns,trends,and associations that might otherwise go unnoticed because of the volume of data.Given this information,it can be said that Neptune uses _____.

Do you think a firm can optimize its supply chain by applying data analytics? Give reasons to support your answer.

Asterisk Inc. ,a car manufacturing company,wants to have an efficient and globally coordinated supply chain.It can achieve this by using:

Do you think making products or components in-house can be disadvantageous to a firm? Give reasons to support your answer.

Which of the following has become critical for supply-chain managers to ensure reliability and keep costs down while simultaneously monitoring the overall operation of the global supply chain?

Do you think while making decisions about production location,a firm must take into consideration the price of its product compared to the product's weight and volume? Give reasons to support your answer.

Do you think global procurement can sometimes be disadvantageous to a firm? Give reasons to support your answer.

_____ has been used to analyze epidemics,design more efficient cities,predict where crimes are most likely to occur,and even forecast the results of Supreme Court rulings.

Cumulus Inc. ,a clothing company,has implemented data analysis within its supply chain.It can be said that by using data analysis in its supply chain,Cumulus can:

Clive Inc. ,an American software development company,uses a technology that helps it collate all relevant information into a single database,represent all business functions in a module,and provide access to data in real time.Given this information,it can be said that Clive uses a(n) _____.

_____ has opened a world of opportunity for supply-chain managers,giving them the freedom to produce each component of a product in the best location.

Krystal Inc. ,a multinational software development company,uses an enterprise resource-planning (ERP) system.It can be said that the ERP system can enable Krystal to:

Which of the following firms is most likely using supply-chain management effectively?

Justify the argument that supply chains and their management are crucial for success in today's business world.

_____ can help a firm implement an exact formula for procuring materials in the most efficient,cost-effective way possible and can update variables in real time to compensate for any changes in conditions.

_____ perform any number of disparate functions and enable companies to coordinate data,schedules,performance metrics,and plans in real time.

Do you think the decision to outsource and/or offshore some aspect of a firm's operations can have major strategic consequences for the firm? Give reasons to support your answer.

Mantle Inc. ,a consumer electronics company,wants to expand its customer base.Which of the following can help Mantle analyze and predict consumer behavior?