Question 1

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

Accepted Answer

The first principle of supply chain management is actually to understand and meet customer demand. While understanding profitability is important, it is not the primary focus of segmentation.

Question 2

Reverse flows in logistics have decreased.

Accepted Answer

There is no clear indication in the statement provided whether reverse flows in logistics have decreased or not.

Question 3

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

Accepted Answer

The seven principles of supply chain management were introduced in the late 1990s and have since remained relevant and widely accepted in the industry. They continue to guide businesses in optimizing their supply chain operations for maximum efficiency and effectiveness.

Question 4

Both reverse and closed-loop systems are important strategies that impact sustainability in a positive manner.

Accepted Answer

Both reverse and closed-loop systems are strategies that aim to reduce waste and increase resource efficiency, which are key components of sustainability. Reverse systems involve collecting, refurbishing, and/or recycling materials and products at the end of their useful life, while closed-loop systems aim to reduce resource inputs and waste outputs by designing products and processes with the entire lifecycle in mind. Therefore, both approaches are important for achieving sustainable outcomes.

Question 5

Nike uses active sensors in high-value merchandise that send out telemetry data, tracking the package's traveling speed and conditions. Applying analytics to this data has the potential to largely reduce supply chain reaction times to avoid delays in shipments.

Accepted Answer

Nike, like many companies, does use various technologies to track and manage its supply chain, but there is no public information suggesting they use active sensors in their merchandise for the purpose of sending out telemetry data related to traveling speed and conditions. Typically, companies use RFID tags for inventory management and GPS for tracking shipments, rather than embedding active sensors in individual high-value merchandise items for the detailed tracking described.

Question 6

Seamless order entry is not that important to the success of omni-channel retailing.

Accepted Answer

Seamless order entry, where customers can place orders through multiple channels seamlessly, is critical to the success of omni-channel retailing as it provides a consistent shopping experience across all channels, reduces customer frustration, and increases customer loyalty.

Question 7

A successful approach in overcoming organizational resistance is to effectuate collaboration in the supply chain.

Accepted Answer

Collaboration in the supply chain can help in breaking down organizational silos and bringing together different stakeholders to work towards a common goal. This can reduce resistance and improve communication and cooperation between departments and individuals.

Question 8

Central to an understanding of supply chain analytics is to recognize that one of the highest priorities at many organizations today is to take a giant leap from data to information, and then from information to understanding.

Accepted Answer

This statement is true. Organizations are focusing on using supply chain analytics to move from data to information and understanding.

Question 9

There is a strong feeling among some supply chain experts that the mitigation of risk is the best driver of sustainability initiatives.

Accepted Answer

The mitigation of risk is often seen as a key reason for pursuing sustainable practices in supply chains. By reducing reliance on a single source or reducing the impact of natural disasters or other disruptions, companies can protect themselves from potential risks, ensuring continuity in their operations.

Question 10

Predictive analytics is the level that incorporates available data to answer questions such as what, where, and when certain supply chain activities, processes, or events are happening.

Accepted Answer

Predictive analytics uses available data to forecast future events or trends, answering questions like what is likely to happen, rather than just describing current or past events.

Question 11

IBM Watson is a prescriptive analytics system that can help to understand data, learn from it, and reason through it.

Accepted Answer

IBM Watson is primarily known as a cognitive computing system or AI that can process and analyze vast amounts of data, understand natural language, and learn from interactions, but it is not specifically categorized as a prescriptive analytics system.

Question 12

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

Accepted Answer

The answer of Technology and data are already very well...

Question 13

Shippers see more strategic and IT-based processes such as supply chain planning and network modeling and optimization, as great areas of opportunity to leverage big data.

Accepted Answer

Shippers are increasingly relying on big data for supply chain planning and optimization.

Question 14

An analysis of the benefits of a reverse or return flows program is dependent upon the development of the true costs associated with such a program and comparing them to a realistic measure of the benefits.

Accepted Answer

To accurately evaluate the benefits of a reverse or return flows program, it is necessary to calculate the costs involved and compare them to the actual benefits. This will help in making informed decisions about implementing such a program.

Question 15

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

Accepted Answer

The answer of Corporate executives are already well aware of...

Question 16

Companies have discovered that there is no revenue opportunities to offset the costs in sustainability practices.

Accepted Answer

This statement is false. Companies have actually found that sustainability practices can lead to revenue opportunities, such as cost savings through energy efficiency or the development of new sustainable products or services that appeal to environmentally conscious consumers. Additionally, some companies have found that adopting sustainable practices improves their reputation and brand image, which can lead to increased customer loyalty and revenue.

Question 17

For an omni-channel retailer, the critical issue is not where inventory is positioned within the network but whether it is available to fill an order, regardless of its origin.

Accepted Answer

The statement correctly identifies that for an omni-channel retailer, the priority is to have inventory available to fulfill customer orders, regardless of its location within the network. This means that a customer should be able to purchase an item online and pick it up in-store or order in-store and have it shipped to their home. This approach allows for a seamless shopping experience for the customer and requires retailers to have real-time visibility into inventory levels across their entire network.

Question 18

The reason retailers are so successful with the omni-channel is because the channels provide so many different views of the customer.

Accepted Answer

Omni-channel success is due to seamless integration across channels, enhancing customer experience, not just multiple customer views.

Question 19

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

Accepted Answer

Differentiating products closer to the customer involves customizing and adapting products to meet specific customer needs and preferences, which can lead to increased customer satisfaction and loyalty. This principle focuses on the importance of understanding customer demand and finding ways to tailor products to meet those demands as closely as possible.

Question 20

With all of the new technology and game-changing ideas, the future of omni-channel does not look like it will take off.

Accepted Answer

With the continued advancement of technology and the increasing demand for seamless shopping experiences, omni-channel is expected to only grow in popularity and importance in the future.

Quiz 15: Strategic Challenges and Change for Supply Chains