WPC 150: Supply Chain Management Quiz
What is not one of the reasons that a company might spend money to move their facilities?
Better looking building
Trade protections that countries use in trade include all of the following but .......
Contract
True or False: Many rapidly growing companies do most of the production themselves.
False
A supply chain manager responsible for developing the transportation itinerary and finding the appropriate transportation and storage business partners, works in which function of Supply Chain Management?
NOT Operations NOT Procurement
Fill in the blank: _________is the function that searches for high-quality material resources, finds the best suppliers, and negotiates the best price for quality goods and services
Purchasing
True or False: Possession Utility refers to the value or usefulness a customer derives from being able to take possession of a product.
True
True or False: Telecommuting, working from home via computer, is a major trend in business. Companies that no longer need to locate near sources of labor will be able to move to areas where land is less expensive, and the quality of life may be higher.
True
True or False: Time utility is related to Place utility in that products are made available to customers when they need them.
True
True or False: Trade protectionism is the use of government regulations to limit the import of goods and services. Advocates of protectionism believe it allows domestic producers to survive and grow, producing more jobs
True
Trade agreements from the readings include all of the following but:
USTRANSCOM
Common markets discussed in the text include all of the following but .......
WTO
Fill in the blank: ________ is the value or usefulness of a product in fulfilling customer needs or wants. There are four general types of economic utility.
Economic Utility
True or False: An import quota increases the number of products in certain categories a nation can import
False
which branch of the supply chain seeks to help the organization create high quality products and/ or services using the fewest resources possible?
Operations
Quality control procedures discussed in the course include all of the following but .......
QM
True or False: Economic Utility refers to a product being in a form that (1) can be used by the customer and (2) is of particular value to the customer.
False
True or False: Economic Utility refers to the value or usefulness a customer derives from being able to take possession of a product.
False
True or False: Form Utility is the value or usefulness of a product in fulfilling customer needs or wants.
False
True or False: Offshoring is the process whereby one firm contracts with other companies, often in other countries, to do some or all of its functions
False
True or False: Possession Utility is the value or usefulness of a product in fulfilling customer needs or wants.
False
True or False: Time Utility refers to the value or usefulness a customer derives from being able to take possession of a product.
False
True or False: Time utility is related to Economic utility in that products are made available to customers when they need them.
False
Fill in the blank: _______ refers to a product being in a form that (1) can be used by the customer and (2) is of particular value to the customer.
Form Utility
In the past, firms often conducted quality control at the end of the production line. Products were completed first and then tested for quality. This resulted in all of the following problems except ...
Increased productivity
The process whereby one firm contracts with other companies, often in other countries, to do some or all of its functions is called:
Outsourcing
Fill in the blank: _______ is the idea of making products available where they are needed by customers; in other words, products are moved from areas where they are not needed or are not popular to areas where they are.
Place Utility
Fill in the blank: ______ refers to the value or usefulness a customer derives from being able to take possession of a product.
Possession Utility
Which branch of an organization is responsible for acquiring materials, equipment, products, and services?
Procurement
The North American Free Trade Agreement (NAFTA) included all of the following but:
Quota of goods to be imported by trade partners
Supply Chain Management is the effective and efficient integration of the suppliers, manufacturers, transportation organizations and other parties responsible for collectively bringing products and services to market.
True
True or False: An embargo is a complete ban on the import or export of a certain product, or the stopping of all trade with a particular country.
True
True or False: Economic utility is the value or usefulness of a product in fulfilling customer needs or wants.
True
True or False: Facility location is the process of selecting a geographic location for a company's operations
True
True or False: Form Utility refers to a product being in a form that (1) can be used by the customer and (2) is of particular value to the customer.
True
True or False: ISO 14001 is a collection of the best practices for managing an organization's impact on the environment. As an environmental management system, it does not prescribe a performance level
True
True or False: ISO 9001 is the common name given to quality management and assurance standards.
True
True or False: Just-in-Time (JIT) is a production process in which a minimum of inventory is kept on the premises and parts, supplies, and other needs are delivered just in time to go on the assembly line.
True
True or False: Materials requirement planning (MRP) is a computer-based operations management system that uses sales forecasts to make sure needed parts and materials are available at the right time and place.
True
True or False: Outsourcing is the process whereby one firm contracts with other companies, often in other countries, to do some or all of its functions
True
