Question 1

A ________ is essentially a sequence of linked suppliers and customers in which every customer is, in turn, a supplier to another customer until a finished product reaches the ultimate consumer or industrial user.

Accepted Answer

A supply chain refers to the interconnected network of suppliers, manufacturers, distributors, and retailers that work together to bring a product or service to market. It involves the flow of goods, services, and information from the initial supplier of raw materials to the end customer.

Question 2

The choice of a supply chain involves three steps: (1) understand the customer, (2) ________, and (3) harmonize the supply chain with the marketing strategy.

Accepted Answer

The answer of The choice of a supply chain involves...

Question 3

A firm needs to drive down logistics costs as long as it can deliver expected

Accepted Answer

Driving down logistics costs is important, but not at the expense of customer service. Maintaining expected customer service levels should be the priority for the firm.

Question 4

The practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements is referred to as

Accepted Answer

The answer of The practice of organizing the cost-effective flow...

Question 5

What is the first step in choosing the right supply chain?

Accepted Answer

Understanding the customer is the first step in choosing the right supply chain because it allows the company to identify the customers' needs and preferences, which will then inform the decision-making process regarding which supply chain will best meet those needs.

Question 6

Customers currently link to Cisco's website to configure, price, and order its networking equipment. Cisco then sends orders back out across the Internet to producers and assemblers including Celestica, Flextronics, Jabil, and Solectron. Products are built and tested to Cisco's standards, sometimes with procedures run remotely by Cisco. Most items are then drop-shipped to buyers, untouched by Cisco's employees. This is a description of Cisco's

Accepted Answer

The passage describes Cisco's supply chain, which includes ordering, production, and delivery processes involving multiple external partners. The other choices (A, C, D, E) do not accurately describe the overall process outlined in the passage.

Question 7

The choice of a supply chain follows from a clearly defined marketing strategy and involves three steps: (1) ________, (2) understand the supply chain, and (3) harmonize the supply chain with the marketing strategy.

Accepted Answer

The answer of The choice of a supply chain follows...

Question 8

In the automobile industry, the carmaker's ________ manager is responsible for translating customer requirements into actual orders and arranging for delivery dates.

Accepted Answer

The supply chain manager is responsible for managing the flow of goods, services, and information from the point of origin to the point of consumption. In the automobile industry, the supply chain manager would be responsible for ensuring that customer orders are fulfilled on time and efficiently. They would be responsible for managing inventory, arranging for suppliers, and coordinating delivery logistics.

Question 9

Johnson Controls can receive an order for automobile seats from Ford and deliver the order four hours later, beginning with raw materials and ending with delivery of the finished seats to Ford. To accomplish this, Johnson Controls must

Accepted Answer

The ability to receive an order and deliver finished automobile seats to Ford four hours later requires strong logistics capabilities. Johnson Controls must be able to efficiently manage its supply chain, including sourcing raw materials, manufacturing the seats, and delivering them to Ford's production line. This level of responsiveness demands a high degree of coordination and speed, which can only be achieved by having a well-planned and efficient logistics system in place.

Question 10

Which of the following statements best describes how a supply chain differs from a marketing channel?

Accepted Answer

A supply chain includes suppliers, manufacturers, distributors, and retailers who work together to create and distribute a product to the end consumer. On the other hand, a marketing channel is a system of organizations that are involved in the process of making a product or service available for use by the end customer. While suppliers are part of the supply chain, they may not be part of the marketing channel. Therefore, option E is the best choice.

Question 11

Logistics management refers to

Accepted Answer

Logistics management is the practice of organizing the cost-effective flow of raw materials, in-process inventory, finished goods, and related information from point of origin to point of consumption to satisfy customer requirements.

Question 12

The various firms involved in performing the activities required to create and deliver a product or service to ultimate consumers or industrial users are referred to as

Accepted Answer

The term "supply chain" refers to the network of firms involved in the creation and delivery of a product or service, from raw material suppliers to manufacturers to distributors to retailers. Therefore, choice C is the correct answer. A and B are not as accurate as they focus only on distribution, while choice D is a specific approach within the supply chain. Choice E, logistics, refers specifically to the movement and storage of goods within the supply chain.

Question 13

A supply chain refers to

Accepted Answer

A supply chain refers to the various firms involved in performing the activities required to create and deliver a product or service to ultimate consumers or industrial users.

Question 14

Supply chain management refers to

Accepted Answer

The answer of Supply chain management refers to
...

Question 15

As it relates to the definition of logistics management, flow refers to decisions needed to move

Accepted Answer

The definition of logistics management includes the movement of products from the source of raw materials to consumption. This process involves the flow of materials, information, and financial resources, all of which must be managed effectively to ensure the timely delivery of products to customers. Therefore, the correct choice is E.

Question 16

An important feature of supply chain management is its application of ________ that allows companies to share and operate systems for order processing, transportation scheduling, and inventory and facility management.

Accepted Answer

The application of sophisticated information technology allows companies to share and operate systems for order processing, transportation scheduling, and inventory and facility management, which is an important feature of supply chain management. Wholesaler cooperatives, mathematical and statistical models, continuous inventory management, and standardized distribution protocols are all important elements in supply chain management, but they do not directly address the need for sharing and operating systems through information technology.

Question 17

Supply chain and logistics managers play a large part in the manufacture of automobiles. It is estimated that logistics costs account for ________ percent of the retail price you pay for a new car.

Accepted Answer

The answer of Supply chain and logistics managers play a...

Question 18

In logistics management, a cost-effective decision implies which of these?

Accepted Answer

A cost-effective decision in logistics management should consider driving down costs while also taking into account customer buying requirements to ensure satisfaction and maintain demand.

Question 19

The three steps used in choosing a supply chain are (1) understand the customer, (2) understand the supply chain, and (3)

Accepted Answer

The third step in choosing a supply chain is to harmonize the supply chain with the marketing strategy. This involves selecting suppliers and logistics partners that can support the company's marketing goals, such as delivering products to customers quickly, maintaining high levels of quality, or providing customized solutions. Understanding the customer and the supply chain are important foundational steps, but they must be followed by aligning the supply chain with the overall marketing approach.

Question 20

IBM used its artificial intelligence supercomputer Watson to improve its own

Accepted Answer

IBM used Watson to enhance its supply chain by leveraging AI to optimize operations, improve efficiency, and predict disruptions.

Quiz 12: Managing Marketing Channels and Supply Chains