Question 1

Walmart's marketing strategy is to be a reliable,lower-price retailer for a wide variety of mass consumption consumer goods.This strategy favors __________ designed to deliver products to consumers at the lowest possible cost.

Accepted Answer

Walmart's marketing strategy focuses on offering lower prices for consumer goods. This requires an efficient supply chain that can deliver products to consumers at the lowest possible cost. An efficient supply chain enables Walmart to keep its prices low while still generating profits. Therefore, an efficient supply chain is the best choice for Walmart's marketing strategy.

Question 2

The practice that involves unloading products from suppliers,sorting products for individual stores,and quickly reloading products on trucks that will deliver the products to specific stores is referred to as

Accepted Answer

Cross-docking is the practice of unloading products from suppliers, sorting products for individual stores, and quickly reloading products on trucks that will deliver the products to specific stores.

Question 3

The objective of information and logistics management in a customer-driven supply chain is to minimize logistics costs while

Accepted Answer

The objective of information and logistics management in a customer-driven supply chain is to deliver the appropriate level of customer service while minimizing logistics costs. The goal is to provide a high level of customer satisfaction while not incurring unnecessary expenses. Therefore, choice D (delivering the appropriate level of customer service) is the best answer.

Question 4

Walmart made a conscious decision to use __________ supply chain in order to best meet the needs of its consumers.

Accepted Answer

The answer of Walmart made a conscious decision to use...

Question 5

Cross-docking refers to

Accepted Answer

Cross-docking involves unloading products from suppliers, sorting products for individual stores, and quickly reloading products onto trucks for a particular store. This process reduces handling and storage costs and accelerates the delivery of goods to customers.

Question 6

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

The responsiveness or efficiency of a supply chain is directly related to the goals of a firm's marketing strategy. If the goal is to meet customer requirements quickly and efficiently, the supply chain needs to be more responsive. If the goal is to keep costs low, the supply chain needs to be more efficient. Therefore, the answer is C.

Question 7

Which of the following statements regarding supply chains is most accurate?

Accepted Answer

The best supply chain is one that is tailored to the needs of the customer segment being served and is aligned with a company's marketing strategy. This ensures that the supply chain operations are optimized to meet the specific demands of the market and the customer.

Question 8

Expenses associated with transportation,materials handling and warehousing,inventory,stockouts (being out of inventory),order processing,and return products handling are referred to as

Accepted Answer

The expenses associated with transportation, materials handling and warehousing, inventory, stockouts, order processing, and return products handling are all part of the total logistics cost. This cost includes all the expenses that are incurred throughout the supply chain, from the supplier to the customer.

Question 9

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 phrase "handle raw material procurement, manufacturing, logistics, customer support, order entry, and customer fulfillment" suggests an end-to-end solution for supply chain management, which is provided by an integrated supply chain system. Options B, C, D, and E are not comprehensive enough to cover all of these functions.

Question 10

Which of the following statements regarding supply chains is most accurate?

Accepted Answer

There is no one-size-fits-all supply chain strategy that is best suited for every company as each company operates in its unique way with its own set of resources, strengths, and limitations. Supply chain strategies should be customized to the specific business requirements of each organization.

Question 11

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 depends on the specific needs of the customer segments. Companies that serve customers in fast-paced, dynamic industries may prioritize responsiveness, while those in more stable industries may prioritize efficiency. The choice should be based on understanding the unique needs and preferences of the customer segments being served.

Question 12

Cross-docking is most closely related to

Accepted Answer

Cross-docking is a supply chain strategy that involves transferring goods directly from inbound to outbound trucks for efficient delivery without long-term storage. Therefore, it is most closely related to efficient supply chains.

Question 13

Which statement regarding responsive supply chains is most accurate?

Accepted Answer

The statement that is most accurate is E, which states that responsive supply chains rely heavily on information technology. This is because technology allows for real-time data and communication, enabling companies to quickly adjust to changes in demand and supply. The other statements are either false or partially true, but do not fully capture the essence of a responsive supply chain. For example, A implies that the order processing is fast but does not necessarily mean that the transportation should be slow. Similarly, C is not always true as holding large inventories can be costly and risky, especially when demand is uncertain. D is also not always true as a centralized location may not be the most efficient for all products and customers.

Question 14

Which statement regarding efficient supply chains is most accurate?

Accepted Answer

Efficient supply chains may utilize cross-docking, which involves unloading products from inbound vehicles and loading them directly onto outbound vehicles with little to no storage in between. This reduces handling time and inventory costs. Choices A, B, C, and E are either incorrect or not the most accurate statement about efficient supply chains.

Question 15

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

Accepted Answer

Dell has adopted a responsive supply chain strategy to better serve its customers. This strategy focuses on quickly responding to changes in customer demand and providing fast and flexible delivery options. This helps Dell to meet the needs of its customers in a timely manner and stay competitive in the market.

Question 16

Which of the following statements regarding supply chains is most accurate?

Accepted Answer

Supply chain managers often have to balance efficiency (i.e., minimizing costs) with responsiveness (i.e., meeting customer demands quickly and effectively). This trade-off can be challenging to navigate, as increasing efficiency may sacrifice responsiveness and vice versa. Therefore, E is the most accurate statement about supply chains. A, B, C, and D are all incorrect statements about supply chains.

Question 17

Which statement regarding efficient supply chains is most accurate?

Accepted Answer

Efficient supply chains often operate with relatively low inventory levels, as holding excess inventory can be costly and increase the risk of obsolescence or waste. Instead, they rely on accurate forecasting and just-in-time delivery to minimize inventory while still meeting customer demand.

Answer: B
 Efficient supply chains use common platforms and common components across several products to increase efficiency and reduce costs. By using standardized parts and processes, they can streamline production and reduce the number of suppliers needed.

Answer: D
 This statement is not accurate. Efficient supply chains focus on minimizing costs, and expensive transportation options can increase costs. Instead, they aim to optimize transportation routes and use the most cost-effective modes of transportation.

Answer: E
 This statement is not accurate. While economies of scale are important in supply chain efficiency, increasing the variety of system configurations offered can actually decrease efficiency by increasing complexity and reducing standardization.

Question 18

Because its customers desire rapid delivery and a wide variety of customizable products,Dell made a conscious decision to use __________ supply chain to meet these requirements.

Accepted Answer

A responsive supply chain is focused on quickly adapting to meet the changing needs and demands of customers, such as the desire for fast delivery and customizable products. Dell has designed its supply chain to be highly responsive in order to meet these requirements.

Question 19

Total logistics cost refers to

Accepted Answer

Total logistics cost refers to expenses associated with transportation, materials handling and warehousing, inventory, stockouts, order processing, and return products handling.

Question 20

Which statement regarding responsive supply chains is most accurate?

Accepted Answer

Responsive supply chains prioritize speed and flexibility, often relying on more expensive express transportation methods to quickly move goods from one point to another. They use real-time data to adjust production and inventory levels in response to changes in customer demand or market conditions, which requires a higher level of coordination and communication across the supply chain. While they may use some cost-saving measures in packaging or inventory management, these are not typically the primary focus.

Quiz 12: Managing Marketing Channels and Supply Chains

Walmart's marketing strategy is to be a reliable,lower-price retailer for a wide variety of mass consumption consumer goods.This strategy favors __________ designed to deliver products to consumers at the lowest possible cost.

The practice that involves unloading products from suppliers,sorting products for individual stores,and quickly reloading products on trucks that will deliver the products to specific stores is referred to as

The objective of information and logistics management in a customer-driven supply chain is to minimize logistics costs while

Walmart made a conscious decision to use __________ supply chain in order to best meet the needs of its consumers.

Cross-docking refers to

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

Which of the following statements regarding supply chains is most accurate?

Expenses associated with transportation,materials handling and warehousing,inventory,stockouts (being out of inventory) ,order processing,and return products handling are referred to as

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.

Which of the following statements regarding supply chains is most accurate?

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

Cross-docking is most closely related to

Which statement regarding responsive supply chains is most accurate?

Which statement regarding efficient supply chains is most accurate?

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

Which of the following statements regarding supply chains is most accurate?

Which statement regarding efficient supply chains is most accurate?

Because its customers desire rapid delivery and a wide variety of customizable products,Dell made a conscious decision to use __________ supply chain to meet these requirements.

Total logistics cost refers to

Which statement regarding responsive supply chains is most accurate?