Question 1

Each process or element of the supply chain is an important strategic resource and a corporate asset.

Accepted Answer

Each process or element of the supply chain contributes to the overall efficiency, effectiveness, and competitiveness of a company, making them valuable strategic resources and corporate assets.

Question 2

Recruiting employees is becoming more difficult for many reasons. In most developed countries, the birth rate is well below the replacement rate of 2.1, thus firms have to attract talent from other countries.

Accepted Answer

The low birth rate in developed countries leads to a shrinking workforce, making it necessary for firms to recruit talent from abroad to fill the gap.

Question 3

In surveys published by the Society for Human Resources Management and Monster.com, both groups reported that employee turnover during the first two years is very high and could be as much as 50 percent.

Accepted Answer

The surveys by the Society for Human Resources Management and Monster.com indicate that employee turnover within the first two years can be significantly high, reaching up to 50 percent.

Question 4

Salary and benefits are typically the most important factors that motivate supply chain professionals.

Accepted Answer

The answer of Salary and benefits are typically the most...

Question 5

The leading edge or top performing companies tend to fill job vacancies from the outside versus filling them from within the company.

Accepted Answer

Leading companies often prefer to promote from within to retain talent, maintain company culture, and leverage existing employee knowledge and experience.

Question 6

Excellent communication skills would be an example of a soft skill that would be important in hiring employees for supply chain management jobs.

Accepted Answer

Soft skills like excellent communication are crucial in supply chain management for effective coordination, negotiation, and collaboration with various stakeholders.

Question 7

"Onboarding" refers to the training of employees.

Accepted Answer

Onboarding is the process of integrating and training new employees into an organization, helping them understand their roles and the company's culture.

Question 8

According to a study of the onboarding practices of U.S.-based companies, 75 percent of companies have a formal onboarding program.

Accepted Answer

A study conducted by the Society for Human Resource Management (SHRM) and other similar organizations often report that a significant majority of U.S.-based companies have formal onboarding programs, with figures around 75 percent being commonly cited.

Question 9

Best-in-class organizations tend to significantly outperform the average firm with respect to the cross-training of employees across multiple roles.

Accepted Answer

Cross-training employees across multiple roles can lead to increased flexibility, improved collaboration, and enhanced problem-solving abilities, which are characteristics often found in best-in-class organizations.

Question 10

Incorporating the Internet into education and training involves both stand-alone supply chain-related coursework and the integration of the technology into other, more traditional, media.

Accepted Answer

Incorporating the Internet into education involves using it as a tool for specific courses like supply chain management and integrating it into traditional educational methods to enhance learning experiences.

Question 11

Retaining the knowledge of employees who retire or leave a company is important. An example of informal or uncodified "tacit knowledge" that could be collected would be documents, contracts and manuals.

Accepted Answer

Tacit knowledge is personal, context-specific, and hard to formalize, such as skills or experiences, whereas documents, contracts, and manuals are examples of explicit knowledge.

Question 12

In most organizations, supply chain operations' IT investment is a high priority.

Accepted Answer

The answer of In most organizations, supply chain operations' IT...

Question 13

Strategic versus operational organizational structures refer to the level at which supply chain activities are positioned within and across firms.

Accepted Answer

Strategic and operational organizational structures determine how supply chain activities are managed and integrated within and across firms, affecting decision-making and execution levels.

Question 14

There are two types of keiretsu's: horizontal and vertical. The horizontal keiretsu consists of a large manufacturing company surrounded by numerous small and subservient suppliers and distributors that keep the operations running smoothly, while the vertical keiretsu consists of a group of interlocking companies, typically clustered about a lead manufacturer, a main bank, and a trading company, and overseen by a presidents' council consisting of the presidents of the major group companies.

Accepted Answer

The description of horizontal and vertical keiretsu is incorrect. Horizontal keiretsu involves a group of diverse companies with cross-shareholdings, while vertical keiretsu involves a hierarchical structure with a lead manufacturer and its suppliers.

Question 15

Good structures facilitate the implementation of supply chain networks; they do not guarantee success.

Accepted Answer

Good structures provide a framework for efficient operations, but success also depends on other factors like market conditions, management, and execution.

Question 16

The components of a corporate mission statement or a supply chain mission statement will be similar.

Accepted Answer

Both mission statements aim to define the purpose, values, and goals of the organization or function, though they focus on different aspects of the business.

Question 17

Cloud computing is an Internet service which can be accessed by a customer's own computer, rather than having the hardware and software at the customer's location.

Accepted Answer

Cloud computing allows users to access computing resources over the Internet, eliminating the need for local hardware and software installations.

Question 18

Because supply chains involve multiple firms and a large number of individuals, collaboration is essential to successful supply chain management. This makes social networking an ideal means of enabling and enhancing collaboration.

Accepted Answer

Social networking facilitates communication and information sharing, which are crucial for collaboration among the various stakeholders in a supply chain.

Question 19

The approach known as 360 degree evaluation of employees and suppliers is more of a quantitative rather than qualitative measure of results.

Accepted Answer

360-degree evaluation is primarily qualitative as it involves feedback from various sources, providing a comprehensive view of performance rather than focusing solely on numerical metrics.

Question 20

Cost-to-sales ratios are important measures used to evaluate organizational effectiveness.

Accepted Answer

Cost-to-sales ratios help assess how efficiently a company is converting its costs into sales, indicating its operational effectiveness.

Quiz 15: Collaboration, Cooperation and Integration in the Supply Chain