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Exam 15: Supply Chain Management

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Question 21

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Most people working for a business organization are somehow involved with the supply chain of that business.

A) True
B) False

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Question 22

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It is essential to adopt procedures to manage _____ in the supply chain.

A) procurement
B) distribution
C) risks
D) inventory
E) suppliers

F) A) and B)
G) A) and C)

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Question 23

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Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction.

The more __________ a company's supply chain, the more difficult it is to ensure that the supply chain is managed ethically.

RFID chips: (I) are used to track goods in distribution. (II) are used to track job progress in production. (III) are used to provide special instructions to operators. (IV) can be used in inventory record keeping.

After outsourcing to global suppliers, __________ is not simple.

Inventory velocity refers to the average speed (in miles/hour)of material handling equipment in a warehouse.

Delayed differentiation is a means of increasing product variety without building the customized product from scratch or keeping large inventories of custom products.

Vendor analysis is the process that evaluates the source of supply in terms of price, quality, reputation, and service.

Frequent deliveries of small shipments can reduce inventory but also result in an increase in the transportation cost per unit.

The optimization of the supply chain uses a mathematical model to determine the optimal number of business organizations to be included in the chain.

Creating an effective supply chain requires linking the marketing, distribution, and supplier channels.

Decentralized purchasing can usually offer quicker response than centralized purchasing.

Which of these aspects of supply chain management are especially concerning to small business? (I) customer reliability (II) inventory management (III) purchasing costs (IV) risk management (V) international trade

_________ has/have helped firms to concentrate on their core business.

Every business organization is part of at least one supply chain.

To avoid temporary storage in a warehouse, cross-docking can be used.

Which of the following is a principle required for ethical behavior in purchasing? (I) loyalty to employer (II) justice to those you deal with (III) faith in your profession

Important factors in purchasing include the cost of goods purchased, the quality of goods and services, and the timing of deliveries of goods or services.

Starting with the final customer and moving backward through the supply chain, batch sizes and the level of safety stock tend to decrease.