Question 1

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 that are involved in the creation and delivery of a product or service, from the initial suppliers of raw materials to the final customers or users. This includes manufacturers, distributors, wholesalers, retailers, and other intermediaries who collaborate to ensure that products and services move smoothly from the point of origin to the point of consumption. The supply chain is an important concept in modern business because it enables firms to coordinate their activities more effectively, reduce costs, and improve customer satisfaction.

Question 2

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

Accepted Answer

The supply chain manager is responsible for ensuring that customer requirements are translated into orders and coordinating the logistics to arrange for delivery dates.

Question 3

Supply chain management refers to

Accepted Answer

The answer of Supply chain management refers to
...

Question 4

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

Supply chain management heavily relies on sophisticated information technology to facilitate communication, collaboration, and documentation between companies in the chain. This includes digital systems for order processing, transportation scheduling, inventory management, and facility management. Mathematical and statistical models, continuous inventory management, and standardized distribution protocols also play important roles, but are not as central to the use of sophisticated information technology. Wholesaler cooperatives may facilitate collaboration among suppliers, but they are not a feature of supply chain management per se.

Question 5

In the automobile industry, the supply chain manager is responsible for translating __________ into actual orders and arranging for delivery dates.

Accepted Answer

Customer requirements are the basis for the supply chain manager's decisions on what to order and when to deliver it.

Question 6

IBM is one of the world's great business success stories because of its ability to reinvent itself to satisfy shifting customer needs in __________ global marketplace.

Accepted Answer

The word "reinvent" suggests that IBM is able to adapt and change to meet the demands of a constantly changing or dynamic global marketplace. Therefore, option B, "a dynamic" is the best choice.

Question 7

IBM built a single __________ that would handle raw material procurement, manufacturing, logistics, customer support, order entry, and customer fulfillment across all of IBM-something that had never been done before.

Accepted Answer

The mention of "raw material procurement, manufacturing, logistics, customer support, order entry, and customer fulfillment" all point towards an integrated supply chain system.

Question 8

The goals to be achieved by a firm's marketing strategy determine whether its supply chain needs to be more __________ in meeting customer requirements.

Accepted Answer

If the goal of the marketing strategy is to provide a high level of customer service, meeting customer requirements in a timely and efficient manner becomes crucial. This means that the supply chain needs to be responsive to the demands of the customers in terms of delivery times, product availability, and order customization. On the other hand, if the marketing strategy is to focus on low-cost products or services, the supply chain needs to be geared towards cost-effectiveness, which may require centralized location or geographically distributed facilities to minimize transportation costs. However, given the option, C is the most appropriate choice as it directly addresses the connection between marketing goals and the responsiveness and efficiency of the supply chain.

Question 9

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 second step in choosing a supply chain is to understand the supply chain itself, ensuring it aligns with customer needs and the company's marketing strategy.

Question 10

Supply chain refers to

Accepted Answer

The supply chain encompasses all the firms involved in the processes required to create and deliver a product or service to the end consumer or industrial user.

Question 11

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 description refers to the process of ordering, assembling, testing, and delivering Cisco's networking equipment, which is a typical supply chain operation.

Question 12

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 that work together to move goods from the producer to the consumer. In contrast, a marketing channel focuses on the process of creating, promoting, and delivering products to customers, but typically does not include the suppliers of raw materials or other inputs. While communication and cost-effectiveness are important in both supply chains and marketing channels, the key distinction is the scope of the relationships and functions involved.

Question 13

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

The definition given in the question matches the definition of a supply chain, making D the best choice. The other options, such as logistical flow, demand chain, or supplier-customer alliance, are not specific enough to describe the entire sequence of suppliers and customers involved in creating and delivering a finished product to the end user.

Question 14

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 enables a company to determine the needs and expectations of its customers and design a supply chain that can meet those needs efficiently and effectively. The other steps mentioned (understanding the supply chain, developing a list of qualified channel members, enumerating logistics specifications, and comparing multiple-channel alternatives) are important, but they follow naturally from a thorough understanding of the customer.

Question 15

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 16

IBM has adopted __________ supply chain strategy to better serve its customers.

Accepted Answer

IBM has adopted an integrated supply chain strategy to streamline operations and improve customer service by coordinating and optimizing various supply chain processes.

Question 17

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 18

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 ensures that the supply chain is aligned with the goals and objectives of the overall business strategy. Understanding the environment, logistics, and company goals are important factors in supply chain management, but they are not the specific third step in choosing a supply chain. Understanding the customer and the supply chain are the first two steps in the process.

Question 19

Often companies must choose between a responsive supply chain and an efficient supply chain. This decision is based on

Accepted Answer

The choice between a responsive and efficient supply chain ultimately depends on the specific needs of different customer segments. Some customers may value quick delivery times and customization options, while others prioritize cost efficiency and standardized products. A company should assess its customer base and determine which approach will best meet their needs and preferences.

Question 20

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

Accepted Answer

The firm needs to drive down logistics costs but this should not come at the cost of delivering expected customer service. It is important to maintain the necessary level of customer service while reducing logistics costs. Therefore, choice B is the best answer.

Quiz 15: Managing Marketing Channels and Supply Chains