Question 1

A disadvantage of the "few suppliers" sourcing strategy is:

Accepted Answer

A)  the risk of not being ready for technological change.
B)  the lack of cost savings for customers and suppliers.
C)  possible violations of the Sherman Antitrust Act.
D)  the high cost of changing partners.
E)  the suppliers are less likely to understand the broad objectives of the procuring firm and the end customer.

Question 2

All EXCEPT which of the following are "opportunities" in managing the integrated supply chain?

Accepted Answer

A)  postponement
B)  drop shipping
C)  blanket orders
D)  standardization
E)  line balancing

Question 3

________ is an approach that seeks efficiency of operations through the integration of all material acquisition,movement,and storage activities.

Accepted Answer

Logistics ...

Question 4

How does the pursuit of a response strategy impact the supply chain decisions of: (1)primary supplier selection criteria, (2)supply chain inventory, (3)distribution network,and (4)product design characteristics?

Accepted Answer

(1)Suppliers should be selected primaril...

Question 5

Identify the four stages of supplier selection.

Accepted Answer

(1)supplier evaluati...

Question 6

Because the supply chain has become so electronic and automated,opportunities for unethical behavior have been greatly reduced.

Accepted Answer

A) True 
 B)False

Question 7

In supply chain management,ethical issues:

Accepted Answer

A)  are particularly important because of the enormous opportunities for abuse.
B)  may be guided by company rules and codes of conduct.
C)  become more complex the more global is the supply chain.
D)  may be guided by the principles and standards of the Institute for Supply Management.
E)  All of the above are true.

Question 8

A manufacturing plant averaged $740 of raw materials,$230 of work-in-process inventory,and $1030 of finished goods inventory during the month.If the cost of goods sold this month amounted to $10,000,what is the inventory turnover for the month?

Accepted Answer

Monthly inventory turnover = Monthly cost of goods sold / Inventory Investment
= $10,000 / ($740 + $230 + $1030)= 5

Question 9

Outsourcing refers to transferring a firm's activities that have traditionally been internal to external suppliers.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following best describes Vizio's sourcing strategy?

Accepted Answer

A)  few suppliers
B)  keiretsu
C)  joint venture
D)  vertical integration
E)  virtual company

Question 11

Which of the following devices represents an opportunity for technology to improve security of container shipments?

Accepted Answer

A)  devices that identify truck and container location
B)  devices that sense motion
C)  devices that measure radiation or temperature
D)  devices that can communicate the breaking of a container lock or seal
E)  all of the above

Question 12

Which of the following is NOT a typical benefit of centralized purchasing?

Accepted Answer

A)  leverage purchase volume for better pricing
B)  develop specialized staff expertise
C)  reduce the duplication of tasks
D)  reduce lead times
E)  promote standardization

Question 13

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Accepted Answer

A)  suppliers
B)  distributors
C)  wholesalers
D)  retailers
E)  landscaping contractors

Question 14

A company is deciding where to assign its summer intern.The manager estimates that the intern can save $10,000 in the supply chain or increase sales (revenue)by $25,000.If sales (revenue)is divided into the three categories shown in the table,where should the manager assign the intern to maximize profits?

Accepted Answer

The intern would save $10,000 in the sup...

Question 15

For which corporate strategy(ies) should supply chain inventory be minimized?

Accepted Answer

A)  low cost
B)  response
C)  differentiation
D)  low cost and response
E)  low cost and differentiation

Question 16

What term is used to describe the outsourcing of logistics?

Accepted Answer

A)  e-logistics
B)  shipper-managed inventory (SMI) 
C)  hollow logistics
D)  sub-logistics
E)  third-party logistics (3PL)

Question 17

Supply chain managers outsource logistics to meet what three goals?

Accepted Answer

(1)drive down inventory invest...

Question 18

What is e-procurement?

Accepted Answer

Purchasing...

Question 19

Because service firms do not acquire goods and services externally,their supply chain management issues are insignificant.

Accepted Answer

A) True 
 B)False  False

Question 20

Identify the nine major categories of supply chain risk.

Accepted Answer

(1)supplier failure to deliver; (2)supplier quality failures; (3)logistics delays or damage; (4)distribution; (5)information loss or distortion; (6)political; (7)economic; (8)natural catastrophes; (9)theft,vandalism,and terrorism

Exam 11: Supply Chain Management

A disadvantage of the "few suppliers" sourcing strategy is:

Correct Answer
verified

All EXCEPT which of the following are "opportunities" in managing the integrated supply chain?

Correct Answer
verified

________ is an approach that seeks efficiency of operations through the integration of all material acquisition,movement,and storage activities.

Correct Answer
verified
Logistics ...
View Answer

How does the pursuit of a response strategy impact the supply chain decisions of: (1)primary supplier selection criteria, (2)supply chain inventory, (3)distribution network,and (4)product design characteristics?

Correct Answer
verified
(1)Suppliers should be selected primaril...
View Answer

Identify the four stages of supplier selection.

Correct Answer
verified
(1)supplier evaluati...
View Answer

Because the supply chain has become so electronic and automated,opportunities for unethical behavior have been greatly reduced.

Correct Answer
verified

In supply chain management,ethical issues:

Correct Answer
verified

A manufacturing plant averaged $740 of raw materials,$230 of work-in-process inventory,and $1030 of finished goods inventory during the month.If the cost of goods sold this month amounted to $10,000,what is the inventory turnover for the month?

Correct Answer
verified
Monthly inventory turnover = Monthly cost of goods sold / Inventory Investment = $10,000 / ($740 + $230 + $1030)= 5

Outsourcing refers to transferring a firm's activities that have traditionally been internal to external suppliers.

Correct Answer
verified

Which of the following best describes Vizio's sourcing strategy?

Correct Answer
verified

Which of the following devices represents an opportunity for technology to improve security of container shipments?

Correct Answer
verified

Which of the following is NOT a typical benefit of centralized purchasing?

Correct Answer
verified

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Correct Answer
verified

Correct Answer
verified
The intern would save $10,000 in the sup...
View Answer

For which corporate strategy(ies) should supply chain inventory be minimized?

Correct Answer
verified

What term is used to describe the outsourcing of logistics?

Correct Answer
verified

Supply chain managers outsource logistics to meet what three goals?

Correct Answer
verified
(1)drive down inventory invest...
View Answer

What is e-procurement?

Correct Answer
verified
Purchasing...
View Answer

Because service firms do not acquire goods and services externally,their supply chain management issues are insignificant.

Correct Answer
verified
False

Identify the nine major categories of supply chain risk.

Correct Answer
verified
(1)supplier failure to deliver; (2)supplier quality failures; (3)logistics delays or damage; (4)distribution; (5)information loss or distortion; (6)political; (7)economic; (8)natural catastrophes; (9)theft,vandalism,and terrorism

Exam 11: Supply Chain Management

A disadvantage of the "few suppliers" sourcing strategy is:

Correct AnswerverifiedShow Answer

All EXCEPT which of the following are "opportunities" in managing the integrated supply chain?

Correct AnswerverifiedShow Answer

________ is an approach that seeks efficiency of operations through the integration of all material acquisition,movement,and storage activities.

Correct AnswerverifiedLogistics ...View AnswerShow Answer

How does the pursuit of a response strategy impact the supply chain decisions of: (1)primary supplier selection criteria, (2)supply chain inventory, (3)distribution network,and (4)product design characteristics?

Correct Answerverified(1)Suppliers should be selected primaril...View AnswerShow Answer

Identify the four stages of supplier selection.

Correct Answerverified(1)supplier evaluati...View AnswerShow Answer

Because the supply chain has become so electronic and automated,opportunities for unethical behavior have been greatly reduced.

Correct AnswerverifiedShow Answer

In supply chain management,ethical issues:

Correct AnswerverifiedShow Answer

A manufacturing plant averaged $740 of raw materials,$230 of work-in-process inventory,and $1030 of finished goods inventory during the month.If the cost of goods sold this month amounted to $10,000,what is the inventory turnover for the month?

Correct AnswerverifiedMonthly inventory turnover = Monthly cost of goods sold / Inventory Investment = $10,000 / ($740 + $230 + $1030)= 5

Outsourcing refers to transferring a firm's activities that have traditionally been internal to external suppliers.

Correct AnswerverifiedShow Answer

Which of the following best describes Vizio's sourcing strategy?

Correct AnswerverifiedShow Answer

Which of the following devices represents an opportunity for technology to improve security of container shipments?

Correct AnswerverifiedShow Answer

Which of the following is NOT a typical benefit of centralized purchasing?

Correct AnswerverifiedShow Answer

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThe intern would save $10,000 in the sup...View AnswerShow Answer

For which corporate strategy(ies) should supply chain inventory be minimized?

Correct AnswerverifiedShow Answer

What term is used to describe the outsourcing of logistics?

Correct AnswerverifiedShow Answer

Supply chain managers outsource logistics to meet what three goals?

Correct Answerverified(1)drive down inventory invest...View AnswerShow Answer

What is e-procurement?

Correct AnswerverifiedPurchasing...View AnswerShow Answer

Because service firms do not acquire goods and services externally,their supply chain management issues are insignificant.

Correct AnswerverifiedFalse

Identify the nine major categories of supply chain risk.

Correct Answerverified(1)supplier failure to deliver; (2)supplier quality failures; (3)logistics delays or damage; (4)distribution; (5)information loss or distortion; (6)political; (7)economic; (8)natural catastrophes; (9)theft,vandalism,and terrorism

Correct Answer
verified

Correct Answer
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Correct Answer
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Logistics ...
View Answer

Correct Answer
verified
(1)Suppliers should be selected primaril...
View Answer

Correct Answer
verified
(1)supplier evaluati...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Monthly inventory turnover = Monthly cost of goods sold / Inventory Investment = $10,000 / ($740 + $230 + $1030)= 5

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The intern would save $10,000 in the sup...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
(1)drive down inventory invest...
View Answer

Correct Answer
verified
Purchasing...
View Answer

Correct Answer
verified
False

Correct Answer
verified
(1)supplier failure to deliver; (2)supplier quality failures; (3)logistics delays or damage; (4)distribution; (5)information loss or distortion; (6)political; (7)economic; (8)natural catastrophes; (9)theft,vandalism,and terrorism