Quiz Answers SCM 4390

1. Which of the following is not a supply risk in TFC

shipwreck

1. When building a risk-aware culture, management and employees needs to feel empowered to pass on bad news and lesson from mistakes. This is an example of ____?

Acknowledgement

1. Benefits of quantum computing and quantum-ready constrained optimization techniques for manufacturing supply chains, from inbound components and raw materials to outbound distribution.

All options are correct

1. By adopting advanced analytics into the supply chain, businesses

All options are correct

1. It is essential for companies to keep an open mind when pursuing circular ways of doing business. Some of the options are (select the correct option)

All options are correct

1. The integrated value chain is predicated on a new level of transparency and information sharing, including

All options are correct

1. What step in the risk management process is focused on determining the probability and severity of a hazard occurring?

Assess risk

1. In Article 15, the author gave an example about a circular supply chain: The packing of a _____ company's product can be broken down into dirt for farming purposes.

Beverage

1. Which of the following falls under high magnitude of risk impact?

Black swan Brewing storm

1. A terrorist attack in the headquarter city should be categorized as

Black swans

1. Labor disputes is an example of?

Business challenges

1. A supply chain that reuses and creates values from the waste and end-of-life products is called _____ supply chain

Circular

1. What is not one of the benefits for a manufacturing company switching to a circular approach?

Cost reductions

1. Our marketing analyst reported a forecast of a 50% increase in demand, but there is a huge gap between forecast and actual demand, which leads to excessive raw components and high obsolete %. This is an example of ____?

Demand risk

Our marketing analyst reported a forecast of a 50% increase in demand, but there is a huge gap between forecast and actual demand, which leads to excessive raw components and high obsolete %. This is an example of ____?

Demand risk

1. Predicting the demand for flu shot based on the historical data of flu occurrence and other data like the weather forecast is an example of:

Demand sensing

1. Resilience in supply chain comes from

Diversifying vendor bases

1. _______ was an example of a company that successfully changed one of its production processes to be more sustainable and use less water.

DyeCoo

1. 3D models of supply chains are not useful in dealing with the complex interplay of assets and processes.

False

1. A security gap in your supplier's network will not affect the cyber security of our own organization.

False

1. Ability to anticipate risk is high in "Manageable surprise".

False

1. Consumers always drive the need to shift towards circularity in the supply chains.

False

1. Digital supply chain is all about risk mitigation.

False

1. Globalization will fully disappear when the process of reshoring ends.

False

1. If a company can reclaim old products and easily recycle some or all raw materials, it will still not be able to reduce its costs considerably.

False

1. Location intelligence tools cannot evaluate massive amounts of data.

False

1. Moving towards a circular supply chain is more like a transformation that happens within an organization, it does not require external collaboration.

False

1. PET finished goods are less carbon intensive to produce than their Pack 1L counterparts.

False

1. Reshoring means bringing manufacturing and part, or all, of the supply chain to a location near the home country.

False

1. The Circular supply chain mindset is only applicable to the manufacturing industry.

False

1. The customer expectations were evolving in the past few years, to response to the changing consumer shipping habits, some organizations have to transformed from centralized store to decentralized distribution, true or false.

False

1. The digital thread is a form of information sharing, including constant, bidirectional communication and inter-company visibility into inventory data, supply status and so on.

False

1. The immutable transparency of blockchain won't disrupt the money and banking system.

False

1. Blockchain removes ___________ associated with hiring and paying employees

Inefficiencies

1. A sudden fire in a wood factory should be categorized as

Known risk

1. The bankruptcy of an individual local supplier is usually categorized as

Manageable surprises

1. Which of the following risk classification category is low on the impact but hard to anticipate?

Manageable surprises

1. How to mitigate the risk of a disruption to your orange mash supply? Give at least 2 possible solutions & be specific. Name it, describe the impact, benefit & disadvantage.

N/A

1. What is the main contributor of CO2 in your TFC supply chain?

Orange Mash

1. Different types of supply risk have different occurrence frequencies and different TRR. Which of the following risk happens the most frequently?

Pirates

1. The decision to reshore is a balance between (select the correct option)

Price and Risk

1. Mixing operation error is an example of ___?

Process risk

1. When building a risk-aware culture, leaders must clearly define and communicate an organization's risk tolerance. This aspect falls under which category?

Transparency

1. "Constrained Optimization" is a field of mathematics which helps in optimizing a function's variables (e.g., trucks, SKUs), considering their constraints (e.g., cost, volume), for better business decision-making and efficiency.

True

1. According to article The 5 Ws of reshoring supply chains, more nearshoring does not necessarily mean that the supply chain is more resilient.

True

1. An efficient supply chain consumes less energy, uses fewer resources, and produces less waste.

True

1. Blockchain bridges the natural tension between collaboration and data control.

True

1. Core partnerships with suppliers and downstream third parties are important while considering investment in circular supply chains.

True

1. Cyber security is crucial for growth and mainstream adoption of DeFi apps.

True

1. Decentralized finance refers to an ecosystem of financial applications built on top of blockchain networks.

True

1. End-to-end visibility is largely a function of being able to access data across business networks, known as "network of networks"

True

1. Geopolitical uncertainty has accelerated the need for thoughtful, regular review of supply chains.

True

1. If a company can reclaim old products and easily recycle some of or all raw materials, it will be able to reduce its costs considerably

True

1. It is critical to design and use a consistent scoring methodology to assess all risks.

True

1. Known risks are identifiable and possible to measure and manage.

True

1. Local suppliers do not inherently eliminate risk.

True

1. Quantum computer's process data in three dimensions.

True

1. Quantum computing is especially good for large & extremely complex dataset, that it processes data in 3 dimensions

True

1. Repairability is another important trait of circular products.

True

1. Subsets of AI like machine learning and deep learning have huge impacts on supply chain decision making.

True

1. Supply chains with Hybrid model gives the flexibility to balance production based on customer needs

True

1. The pandemic-driven boom in volumes and complexity of e-commerce drive additional use of constrained optimization beyond product lifestyle management to focus on effective, low cost and fast delivery.

True

1. The transition of electronic health records to blockchain will revolutionize data ownership and security for medicine.

True

1. To move towards circular supply chains, adopters need to develop circular modes of thinking.

True

1. While a linear supply chain throws away the scraps as trash, A circular supply chain will reuse and harvest the value and treat it as a starting point for a new process.

True

1. Sudden eruption of a long dormant volcano is an example of _________

Unknown risk

1. Which of the following is not an example of a "smart logistics" supply chain

VMI with logistics service provider

1. Reshoring is preferred especially when:

a. "Made in America" is important to brand image b. The foreign supplier is far away and it's the only source of the critical parts

1. Blockchain is:

a. A distributed ledger system

1. To minimize the spend on excess stock, which of the following factors need to be considered?

a. Accurate forecast demand b. Right supply levels c. Move supply in and product out in an agile and streamlined way

1. Factors to be considered while implementation of reshoring (choose all that apply)

a. Customer desire b. Risk mitigation c. Total landed cost

1. Improved data communication enables the whole product chain to become more responsive in terms of changes in (choose all that apply)

a. Design b. Manufacturing c. Volume d. Life-service provisions

1. Which of the followings are the benefits of adopting a circular supply chain? Choose all that applied.

a. Improve environmental sustainability b. Greater public appeal c. Improve efficiency d. Being more attractive to shareholders and investors

Benefits for manufacturing companies taking a circular approach (select the incorrect option)

a. Increased risk of losing market share to fast-moving challengers

1. Reactive risk mitigation strategy is applicable to ___?

a. Manageable surprises b. Black swans

1. Blockchain can help with:

a. Managing data sharing along the supply chain

1. Main aspects that will have a profound impact on the manufacturing space in 2021: (select the correct options)

a. Manufacturers close the loop b. Designing, developing circular products c. Remanufacturing fuels recycling and vice versa

1. Using a single blockchain network, will help manufacturers and shipping companies to (select the correct options)

a. Overcome discrepancies b. Consolidate large amounts of data c. Create a unified, fully transparent, and safe data flow

1. Which of the following are the benefits of Big Data Analysis?

a. Reduce Cost b. Reduce risk exposure c. Better decision-making

1. Big data analytics helps organizations to

a. Reduce costs b. Make faster, better decisions c. Create new products or services to meet customer's changing needs.

1. Blockchain technology can improve the performance of supply chain in multiple ways. (Choose all that apply)

a. Remove intermediaries b. Increase reliability c. Reduce fraud d. Improve transaction transparency

1. Which of the followings are the characteristics of circular products? Choose all that applied

a. Repairable b. Recycling c. Longevity

1. The usage of Blockchain can bring positive changes to many fields with its immutable transparency, select all the correct fields.

a. Supply Chain Management c. Data connection d. Human resources

1. E-commerce has the benefits of (select the correct options)

a. Taking place primarily in the same medium as blockchain b. Being changed dramatically by blockchain

1. When making the decision of reshoring or nearshoring, you will need to consider: (choose all that apply)

a. Which supplier is going to reshore and who is not b. Balance between investment and risk c. When will supply chain reshore or nearshore d. Single sourcing or Duel sourcing.