Question 1

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 2

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 3

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 4

_____ 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.

Accepted Answer

Data analytics can analyze large volumes of data to find the most efficient and cost-effective ways to procure materials, and it can also update variables in real-time to adapt to changing conditions.

Question 5

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

Accepted Answer

Cloud-based applications allow for the integration and coordination of various functions within a company, including data management, scheduling, performance tracking, and planning, all in real time.

Question 6

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 7

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 8

_____ 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.

Accepted Answer

Big data has been utilized in various fields to analyze large volumes of information for patterns and trends. This includes studying epidemics, optimizing urban planning, predicting crime hotspots, and forecasting legal outcomes, among other applications.

Question 9

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

Accepted Answer

Internet-based applications facilitate efficient and globally coordinated supply chains by enabling real-time communication, data exchange, and collaboration among suppliers, manufacturers, and distributors worldwide.

Question 10

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?

Accepted Answer

Applying data analytics can help Chestnut Inc. optimize its supply chain by providing insights into demand forecasting, inventory management, and transportation logistics, leading to more efficient operations and cost savings.

Question 11

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

Accepted Answer

Galaxy Inc. is most likely using supply-chain management effectively because leveraging the supply chain to maintain an ethical reputation involves ensuring responsible sourcing, fair labor practices, and environmental sustainability, which are key components of effective supply chain management.

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) _____.

Accepted Answer

Clive Inc. uses an enterprise resource-planning (ERP) system, as it integrates all facets of an operation, including development, manufacturing, sales, and marketing, into a single database, application, and user interface.

Question 13

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 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:

Accepted Answer

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

Question 15

_____ 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.

Accepted Answer

Globalization has expanded the reach of supply chains, allowing managers to source components from the most efficient locations worldwide, enhancing productivity and cost-effectiveness.

Question 16

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 _____.

Accepted Answer

Neptune Inc. uses big data, as the description involves analyzing extremely large data sets to uncover patterns, trends, and associations, which is a characteristic activity of big data analytics.

Question 17

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:

Accepted Answer

By implementing data analysis in its supply chain, Cumulus Inc. can optimize its processes, predict demand more accurately, manage inventory better, and streamline logistics. This leads to a more efficient supply chain, which can significantly reduce the time from order to delivery.

Question 18

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?

Accepted Answer

Data analytics has become essential for supply-chain managers to ensure reliability, manage costs, and monitor global supply chain operations effectively. It allows for the analysis of vast amounts of data to optimize logistics, predict trends, and make informed decisions.

Question 19

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:

Accepted Answer

By continuously collecting and analyzing data from global suppliers, Fulcrum can gain a better understanding of inventory levels across different countries, allowing for more informed decision-making regarding production processes.

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?

Accepted Answer

Big data allows for the analysis of vast amounts of consumer information, helping companies like Mantle Inc. predict trends, preferences, and future consumer behavior.

Quiz 18: Global Operations and Supply-Chain Management