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"Bending the chain" refers to:

A move from a linear supply chain model to an integrated, overlapping one

What aspect does this week's case prompt present as the greatest challenge for Kai and Thea during their first year of operations?

Achieving a sufficient return on investment.

Best-practice supply chains strive for supply chain functions to be:

Aligned to minimize total cost

In order for DSI to work, which of the following must happen to enable cultural change?

All of these answer choices are correct

The DSI process produces the following outputs:

All of these answer choices are correct

Typical problems faced by organizations when executing DSI include:

All of these answer choices are correct

Which of the following has resulted in an increased data supply used to measure a supply chain?

All of these answer choices are correct

Which of the following is a characteristic of successful DSI implementation?

All of these answer choices are correct

To improve their day-to-day operations and improve their total financial performance, what are some types of metrics that Kai and Thea could use?

All of these answer choices are correct.

What are the implications to KT's Dive Shop of having the wrong products in stock?

All of these answer choices are correct.

What inventory challenges negatively impacted the financial performance of KT's Dive Shop?

All of these answer choices are correct.

What kind of questions should Kai and Thea consider when developing their DSI process?

All of these answer choices are correct.

What overarching goals should drive the design and execution of KT's supply chain?

All of these answer choices are correct.

Which action(s) could best help Kai and Thea improve the financial health of their dive shop?

All of these answer choices are correct.

Which of the following supply chain actions negatively impact revenue?

All of these answer choices are correct. (stock outs, long lead times, lead times and quality, poor quality of supply prod)

Under traditional supply chain management, performance is believed to be maximized by ensuring lowest-cost operations. This is accomplished by:

All of these.

What functions must be integrated to facilitate a seamless internal supply chain?

All of these. (planning, deliv, sourcing, making)

Why can't Kai and Thea make day-to-day supply chain decisions solely on high-level financial performance?

Because they must consider how to translate their financial goals into operational decisions.

The optimal way for supply chains management to contribute to competitive advantage is through:

Being the leader in both cost and form/time/place value creation

What kinds of things can Kai and Thea do to create greater form, time, and place value for their customers?

Both expanding the range of product offerings and offering a line of customized equipment via a direct-to-consumer model.

How can Kai and Thea ensure that their purchasing operations align with their supply chain goals and contribute to improved financial performance?

By implementing metrics to evaluate supplier cost and service performance.

Which of the following is NOT a component of KT's Wicked Dive Shop supply chain?

Competitors, such as the "big box" scuba and dive center which has recently opened

The supply chain value proposition framework depicts the inter-relationships between which of the following components EXCEPT:

Demand fulfillment

_____________ refers to a process to engage all functions in creating aligned, forward-looking plans, making decisions to optimize resources, and achieving a balanced set of organizational goals.

Demand/Supply Integration (DSI)

What is one of the key issues that Kai and Thea faced during their first year of operations?

Determining which products to stock, how much to have of each, and how to price/promote them, resulting in lost sales and excessive costs.

Which of the following is an example of a fixed cost in the supply chain?

Equipment costs

Total value optimization involves:

Finding the optimal balance between increasing revenue and minimizing cost

Which aspect has the greatest potential to resolve the inventory challenge Kai and Thea are currently facing?

Forecasting and planning.

The three classifications of supply chain value desired by customers are:

Form, time, and place

Which of the following financial reporting standards are used most commonly in the United States?

Generally Accepted Accounting Principles (GAAP)

Supply Chain management contributes to financial performance through:

Growing top line revenue, reducing costs, and improving asset turnover

Based on the case prompt, what is one way that Kai and Thea can create customer value?

Identify the form, time, and place utility that their customers value.

How can KT's Dive Shop integrate sustainability into their supply chain?

Implement a closed-loop supply chain by offering a program for consumers to recycle their used diving gear.

Traditional supply chain models are not suited to industries facing which of the following?

Increasing complexity and competition

From a supply chain perspective, how can Kai and Thea concurrently enhance their customer value proposition and the financial performance of their dive shop?

Integrate demand, supply, finance, and strategy to make more effective decisions.

Which of the following must Kai and Thea do first to ensure their entire internal supply chain is working toward shared organizational goals?

Integrate their plan, source, make, deliver, and return functions.

Why have Kai and Thea experienced ongoing challenges with their strategic decisions?

Lack of integrated decision-making between demand and supply.

In reference to revenue generation, time utility is best described as:

Making a product available when the customer wants it.

Which of the following is not a key supply chain measure?

NOT PROCESS

To achieve an integrated internal supply chain:

NOT Senior leadership must champion internal supply chain integration

Which of the following metrics are mentioned as financial goals in this week's case?

Net margin and 12-month revenue growth.

An example of a supply chain activity that may reduce overall cost but be ineffective from a total value optimization perspective is:

Offshoring

What metrics should KT's Dive Shop use to manage their inbound logistics?

On-time in-full delivery.

Which of the following is not a measure used to calculate perfect order?

Order is sent for return

Fiji bottled water emphasizes its unique source as an example of which value utility?

Place

Which of the following hurts the financial performance of the dive shop most?

Poor inventory management.

Value is created for an organization through effectively influencing and managing which of the following components EXCEPT:

Price

_______________ is a key metric in measuring the supply chain value proposition framework.

Return on Assets

Which function of the supply chain is considered to be the most "downstream"?

Returns management

What level of customer service should Kai and Thea offer to each of their customer segments?

Segment their customer base and set service levels based on the form, time, and place value each segment desires.

Supply chain management contributes to reduced environmental impact in all of the following ways EXCEPT:

Sourcing from global areas to increase transportation miles

Which of the following is not a measure found on a firm's scorecard?

Strategy

A firm's overall capacity is determined by evaluating the following capabilities:

Supplier, manufacturing, & logistics

Which of the following best describes supply chain digitalization?

The ability to structure and exchange massive amounts of data, to make sense of that data to drive decisions, and even to apply data to deliver products or services

Which function of the supply chain is considered to be the most "upstream"?

The identification, acquisition, and management of the goods and services inputs needed to run a business

Amazon creates value by providing enhanced levels of which of the following utilities?

Time and Place

To address supply chain challenges, Kai and Thea are considering implementing Demand Supply Integration (DSI). What is the primary goal of DSI?

To align upstream supply with expected customer demand.

Why did KT feel pressured to improve their supply chain management and financial performance?

To increase their personal income and return to investors.

Forming alliances and encouraging innovation are core aspects of a business competing on what?

Total value optimization

Which of the following organizations competes on exchange value by providing low prices for products?

Walmart

Based on the case prompt, how could Kai and Thea best improve their supply chain operations?

Work to optimize their profit and inventory levels.

A capacity forecast is a firm's __________________ of its ability to supply products or services in some future time period given a set of assumptions that are both internal and external.

best guess

Searching for other organizations that are known across industries for their prowess in a particular area is referred to as

best-in-class benchmarking.

Comparing a process or area with similar processes at competitor firms is referred to as

competitive benchmarking.

In an ideal situation, DSI would ______________.

extend beyond a single enterprise to include integration with key suppliers and key customers

In order for DSI to operate effectively, a firm's culture must be ____________.

focused on transparency, highly collaborative, and committed to organization-wide goals.

"Balancing" the scorecard refers to

including the appropriate number of measures from each type of metric.

Comparing a process or area with similar processes within the same firm is referred to as

internal benchmarking.

An end-to-end supply chain measure is most useful when

it is oriented from the customer's perspective.

In reference to revenue generation, place is best described as:

making a product available where the customer wants it.

When new product development efforts are not connected or inadequately connected to the DSI process, _____________ happens.

misalignment

Return on Assets is calculated as:

net income/assets

The supply chain operating cycle spans from when _______________to_____________.

production materials are bought; customer payment is received

The "Great Divide" is best described as

the lack of communication and coordination between the creation and management of demand and the fulfillment of demand.

Financial performance metrics are valuable mostly because

they capture the economic consequences of business decisions