Question 1

In a closed-loop supply chain,products that end up back at the manufacturer or distribution center are called ______ goods.

Accepted Answer

The answer of In a closed-loop supply chain,products that end...

Question 2

The process of purchasing goods and services that takes into account the long-term impact on people,profits and the planet is ______ ______.

Accepted Answer

The answer of The process of purchasing goods and services...

Question 3

As it pertains to transportation,_____ refers to a carrier's ability to provide service from the source of the shipment to its destination.

Accepted Answer

The answer of As it pertains to transportation,_____ refers to...

Question 4

The main advantage of a supply chain pull strategy is that it allows firms to achieve economies of scale.

Accepted Answer

The main advantage of a supply chain pull strategy is that it allows firms to be more responsive to customer demand and reduce inventory costs by producing goods only as they are demanded, rather than building up inventory in anticipation of demand. This may result in higher production costs and smaller batch sizes, which can reduce economies of scale.

Question 5

When materials and finished products are sourced from supplies in a firm's own country,it is referred to as ______.

Accepted Answer

The answer of When materials and finished products are sourced...

Question 6

The ultimate objective of supply chain management is to integrate related companies in order to facilitate coordinating activities across the supply chain in a manner that improves the entire chain's performance
.

Accepted Answer

This statement accurately describes the ultimate objective of supply chain management.

Question 7

Walmart ordered a large number of backpacks for the start of the school year expecting that demand for the product would be high.However,the backpacks failed to sell and Walmart realizes that it over-ordered the product.Now it has decided to sell off its inventory to a discount retailer rather than keep the stock in its warehouses.For Walmart,the backpacks best represent a type of inventory called anticipative inventory.

Accepted Answer

The answer of Walmart ordered a large number of backpacks...

Question 8

Using several types of transportation for the same shipment is known as _______ transportation.

Accepted Answer

The answer of Using several types of transportation for the...

Question 9

Enterprise resource planning (ERP)systems are data management systems that are used exclusively to determine efficient transportation routes.

Accepted Answer

ERP systems are not used exclusively for transportation route optimization. They are comprehensive data management systems that integrate all business processes and departments within an organization.

Question 10

The transportation mode for items that can be digitized and sent through the Internet is termed _______.

Accepted Answer

The answer of The transportation mode for items that can...

Question 11

Logistics is that part of supply chain management that plans,implements,and controls the flow of goods,services,and information between the point of origin and the final customer.

Accepted Answer

Logistics is indeed the part of supply chain management that plans, implements, and controls the flow of goods, services, and information from the point of origin to the final customer.

Question 12

A company ships a product overseas in a container carried by a ship.After the ship docks,the container is placed on a railroad and travels long distances.Upon the train's arrival,the container is then placed on a truck to be delivered to its final destination.This is an example of ______ transportation.

Accepted Answer

The answer of A company ships a product overseas in...

Question 13

During the maturity and decline stages,a firm may want to stick with the maximum flexibility a pull strategy allows or follow a hybrid strategy that commits to inventory of raw and packaging materials without committing to a large amount of finished goods inventory.

Accepted Answer

The answer of During the maturity and decline stages,a firm...

Question 14

Costs required to make or buy a product including taxes,insurance and warehousing space to store the goods are referred to as production costs.

Accepted Answer

These costs are typically referred to as "total landed costs" or "total cost of ownership," not just production costs. Production costs usually refer to the expenses directly associated with manufacturing a product.

Question 15

The terms pull strategy and responsive supply chain are synonymous.

Accepted Answer

Pull strategy and responsive supply chain are both demand-driven approaches that focus on meeting customer demand.

Question 16

The main reason companies use airfreight so infrequently is because it is _____.

Accepted Answer

The answer of The main reason companies use airfreight so...

Question 17

Cyclical inventory is inventory a firm needs to meet average demand.

Accepted Answer

Cyclical inventory is the inventory that firms keep to meet the regular and average demand for their products. This inventory is cyclically replenished as goods are sold and demand fluctuates. Therefore, the statement is true.

Question 18

_____ is a commitment to a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Accepted Answer

The answer of _____ is a commitment to a lifestyle...

Question 19

When a company recognizes the importance of sharing supply and demand information with suppliers and customers,it is practicing supply chain management.

Accepted Answer

The answer of When a company recognizes the importance of...

Question 20

A set of three or more companies directly linked by one or more of the upstream and downstream flows of products,services,finances,and information from a source to a customer is referred to as a marketing chain.

Accepted Answer

This description refers to a supply chain, not a marketing chain. A supply chain involves the flow of goods, services, money, and information from suppliers to customers, while marketing chain specifically pertains to the distribution aspect of marketing.

Quiz 9: Supply Chain and Logistics Management