Question 1

Manufacturing postponement is most closely associated with which concept?
A) Flow management
B) Demand management
C) Delay management
D) Distribution management

Accepted Answer

The answer of Manufacturing postponement is most closely associated with...

Question 2

Customer relationship management software has experienced __________ adoption in recent years.
A) decreased
B) increased
C) neither an increase nor decrease in adoption
D) customer relationship management software adoption cannot be measured

Accepted Answer

The word "experienced" in the sentence indicates that the question is asking about a change or trend in adoption. The word "recent" indicates that the question is referring to a specific time period. Therefore B is the correct choice as CRM software has seen an increased adoption in recent years.

Question 3

Broadly speaking, the application of ethical principles to business situations is referred to as:
A) Everyday low pricing
B) Corporate social responsibility
C) Business ethics
D) Total quality management

Accepted Answer

Business ethics refers to the application of ethical principles and values to business situations. It involves making decisions that are fair, honest, and responsible, and that take into account the interests of all stakeholders involved. Everyday low pricing, corporate social responsibility, and total quality management are all important concepts in business, but they do not encompass the full scope of business ethics.

Question 4

A company that is interested in balancing profit-seeking with environmental protection initiatives would likely be interested in which of the following concepts?
A) Project management
B) Lean production
C) Sustainability
D) Design for manufacture

Accepted Answer

Sustainability involves the balance between economic growth and environmental protection, making it the best choice for a company interested in balancing profit-seeking with environmental protection initiatives. Project management, lean production, and design for manufacture do not necessarily prioritize or address environmental concerns.

Question 5

Which of the following would be considered to be an ethical purchasing practice?
A) Purchasing from foreign suppliers
B) Selecting suppliers based solely on low cost
C) Buying from large firms
D) Purchasing from minority-owned firms

Accepted Answer

Purchasing from minority-owned firms is an ethical purchasing practice as it promotes diversity and economic growth in underrepresented communities. Selecting suppliers based solely on low cost may lead to unethical practices such as child labor or exploitation of workers. Purchasing from foreign suppliers and large firms may or may not be ethical, depending on their business practices.

Question 6

A financial planner is considering the expansion of her services into a new market. In order to manage her expected new customers, she should consider what type of principles?
A) Customer relocation management
B) Customer relationship management
C) Customer acquisition management
D) Customer measurement management

Accepted Answer

Customer relationship management involves managing and organizing interactions with both current and potential customers. In this scenario, the financial planner is looking to expand into a new market, meaning she will have to manage relationships with new customers in addition to current ones. Therefore, customer relationship management principles would be the most relevant to her needs. Option A, customer relocation management, is not relevant to the scenario. Option C, customer acquisition management, is relevant but only partially captures the full scope of the financial planner's needs. Option D, customer measurement management, is not relevant to the scenario since it involves analyzing customer data and metrics to improve performance, rather than managing relationships with customers.

Question 7

Which technology enables a device to read data stored on chips at a distance, without requiring line-of-sight scanning?
A) JIT
B) RFID
C) CIP
D) RTR

Accepted Answer

RFID (Radio Frequency Identification) technology enables a device to read data stored on chips at a distance, without requiring line-of-sight scanning.

Question 8

What concept is defined as the ability to meet the needs of current supply chain members without hindering the ability to meet the needs of future generations in terms of economic, environmental, and social challenges?
A) Sustainability
B) Ethical purchasing
C) Corporate social responsibility
D) Business ethics

Accepted Answer

Sustainability is defined as the ability to meet the needs of current supply chain members without hindering the ability to meet the needs of future generations in terms of economic, environmental, and social challenges. Ethical purchasing focuses on purchasing practices that align with ethical standards, while corporate social responsibility pertains to a company's responsibility towards society as a whole. Business ethics refers to ethical principles applied in the business context. Although all of these concepts are important for responsible supply chain management, sustainability is the most appropriate answer to the given question.

Question 9

Customers sharing of their planned future purchase quantities, actual sales data, or promotion and new product plans with their supplier can lead to?
A) Increased capacity
B) Increased customer wait time
C) Reduced forecast error and needed safety stock
D) Excessive product returns

Accepted Answer

Sharing planned future purchase quantities, actual sales data, or promotion and new product plans with the supplier can reduce forecast errors and allow for better inventory planning, resulting in reduced safety stock needs. This can also lead to increased capacity, but that is not always the case. Increased customer wait time and excessive product returns are not likely outcomes of sharing this information.

Question 10

A large hardware store is considering an investment in technology to enable easier inventory tracking of boxes of product when received. What technology could the hardware store consider?
A) DTC
B) SQC
C) ASQ
D) RFID

Accepted Answer

RFID (Radio Frequency Identification) is the best choice for inventory tracking as it allows the hardware store to wirelessly and automatically track each individual box of product as it is received. This can improve inventory accuracy and efficiency, and reduce the risk of stockouts or overstocks. DTC, SQC, and ASQ are quality control methods and not suitable for inventory tracking.

Question 11

Sustainability and profit are, in modern times, largely viewed as being ____________.
A) Identical
B) At odds
C) Mutually exclusive
D) Compatible

Accepted Answer

Sustainability and profit are seen as compatible in modern times because businesses can incorporate sustainable practices into their operations, which can ultimately lead to cost savings, increase in customer loyalty, and brand reputation enhancement, all of which can contribute to higher profits in the long run.

Question 12

Which of the following is most likely to be considered to be a service (rather than a good)?
A) Child's toy
B) Loan from a bank
C) Light bulb
D) Car

Accepted Answer

A loan from a bank involves an intangible action or expertise that is provided to the customer, which is the hallmark of a service. The other options (child's toy, light bulb, car) refer to physical goods, which are typically classified as products rather than services.

Question 13

The maximum amount of goods and/or services that a system can produce over a set period of time refers to?
A) Capacity
B) Ceiling
C) Floor
D) Reorder point

Accepted Answer

Capacity refers to the maximum amount of goods and/or services that a system can produce over a set period of time.

Question 14

All of the following are potential benefits of RFID except:
A) Greater product visibility
B) Better inventory management
C) Reduced product tampering
D) Increased manufacturing quality

Accepted Answer

RFID technology can help with tracking and managing inventory, identifying counterfeit products or preventing theft, and improving supply chain efficiency. However, it does not directly impact manufacturing quality, as it is more focused on tracking and managing products after they are produced.

Question 15

The development of contingency plans for the occasions when demand and capacity imbalances exist is accomplished by?
A) Demand modification
B) Demand mitigation
C) Demand misalignment
D) Demand management

Accepted Answer

The development of contingency plans for demand and capacity imbalances is a crucial part of demand management. Demand management involves planning, organizing, directing, and controlling the organization's demand and supply processes to achieve its strategic objectives. It is essential to have a plan in place to mitigate imbalances between demand and capacity to ensure the smooth functioning of the organization's operations.

Question 16

Which of the following is not one of the eight key supply chain processes?
A) Customer service management
B) Demand management
C) Inventory management
D) Order fulfillment

Accepted Answer

Inventory management is not one of the eight key supply chain processes, which typically include customer service management, demand management, order fulfillment, and others like supplier relationship management and returns management.

Question 17

Business process integration refers to which of the following?
A) Selling key processes to competitors to apply pressure to innovate
B) The coordination of process design efforts within a company
C) The sharing and coordination of key processes between companies in a supply chain
D) Quality control initiatives that span multiple firms

Accepted Answer

Business process integration refers to the sharing and coordination of key processes between companies in a supply chain. It involves the alignment of processes, systems, and resources to enable seamless collaboration and coordination among companies. Option A is incorrect as it is not a common practice to sell key processes to competitors. Option B is only limited to coordination within a company and does not involve coordination with other companies in the supply chain. Option D refers to quality control initiatives and is not related to the integration of business processes.

Question 18

Excess server capacity can be used to mitigate which of the following situations?
A) Excessive customer questions about a product
B) Excessive customer warranty claims
C) Excessive customer product returns
D) Excessive customer wait time

Accepted Answer

Excess server capacity can be used to improve response times and reduce customer wait time. It cannot directly address excessive questions, warranty claims, or product returns.

Question 19

The warehousing facilities and the transportation modes utilized by an organization make up a?
A) Product network
B) Distribution network
C) Supply network
D) Logistics network

Accepted Answer

The answer of The warehousing facilities and the transportation modes...

Question 20

A modern term for business ethics is:
A) Corporate social responsibility
B) Ethical management
C) Social justice
D) Business responsibility

Accepted Answer

Corporate social responsibility (CSR) is a modern term for business ethics. It refers to the responsibility of corporations to act ethically and contribute to sustainable development while balancing the interests of their stakeholders.

Quiz 1: Operations Management, Processes, and Supply Chain Management

Manufacturing postponement is most closely associated with which concept?

Customer relationship management software has experienced __________ adoption in recent years.

Broadly speaking, the application of ethical principles to business situations is referred to as:

A company that is interested in balancing profit-seeking with environmental protection initiatives would likely be interested in which of the following concepts?

Which of the following would be considered to be an ethical purchasing practice?

A financial planner is considering the expansion of her services into a new market. In order to manage her expected new customers, she should consider what type of principles?

Which technology enables a device to read data stored on chips at a distance, without requiring line-of-sight scanning?

What concept is defined as the ability to meet the needs of current supply chain members without hindering the ability to meet the needs of future generations in terms of economic, environmental, and social challenges?

Customers sharing of their planned future purchase quantities, actual sales data, or promotion and new product plans with their supplier can lead to?

A large hardware store is considering an investment in technology to enable easier inventory tracking of boxes of product when received. What technology could the hardware store consider?

Sustainability and profit are, in modern times, largely viewed as being ____________.

Which of the following is most likely to be considered to be a service (rather than a good) ?

The maximum amount of goods and/or services that a system can produce over a set period of time refers to?

All of the following are potential benefits of RFID except:

The development of contingency plans for the occasions when demand and capacity imbalances exist is accomplished by?

Which of the following is not one of the eight key supply chain processes?

Business process integration refers to which of the following?

Excess server capacity can be used to mitigate which of the following situations?

The warehousing facilities and the transportation modes utilized by an organization make up a?

A modern term for business ethics is: