ETI3647 (week 7)

______________ analytics is used to find the course of action that will yield the best outcome for decisions that should be taken in the future.

Prescriptive

Which of the following is not considered a benefit of a Free Trade Agreement (FTA)?

Provide U.S. sellers with greater import duties.

__________ can be used, for example in sports, to model physical systems at the same rate or time as the actual physical system.

Real-time Simulations

A balanced supplier portfolio that plans for multiple suppliers or locations to ensure sustainable supply chain operations even in the event of failure in one supplier or location.

Redundancy

_________ is a type of machine learning where a computer learned by feedback by operating in a real or synthetic environment.

Reinforcement learning

A person that may be unwilling to identify or try new suppliers, having overly-restrictive approval processes, selecting established suppliers rather than investigating and qualifying best practice suppliers, failing to empower departments with user-friendly methods, holding excessive inventory, etc.

Risk Averse

A type of operational, financial, and reputational effect that may result from supply chain uncertainties, such as delays, shortages, costs, fines, investor or customer issues, and more.

Risk Consequences

A process used after identifying risks to work through potential strategies to address each risk, such as backup suppliers, alternative network designs or processes, extra capacity or inventory, monitoring systems, and more.

Risk Mitigation

In the SAP Integrated Business Planning (IBP) cloud based system, it consists of several independent components. The _____________ component is often a core need to effectively balance demand and supply.

Sales and Operations Planning

________________ monitoring devices are being used by individuals to promote a healthier lifestyle, as well as being researched for use in the early diagnosis of preventable diseases.

Self-tracking

___________ is used to predict the behavior of a supply chain to make better key decisions on strategy and execution.

Simulation

Which of the following statements is false?

Simulations and models in supply chain management are used to assess configuration to confirm supply chain partnerships in the ecosystem.?

_________ is a type of machine learning used when you want to make predictions on labeled data or data with a target.

Supervised learning

A report card oriented process that provides suppliers with feedback on their performance.

Supplier Assessment Reviews

In the SAP Integrated Business Planning (IBP) cloud based system, it consists of several independent components. The _____________ component is for end to end visibility with smart alerts and analytics, as well as 'what if' simulation capabilities that help make better decisions.

Supply Chain Control Tower

In the SAP Integrated Business Planning (IBP) cloud based system, it consists of several independent components. Which of the following components is not accurately described?

Supply Chain Control Tower is used as the core to effectively balance demand and supply.

What has happened to the world's largest corporations over the past decade?

Technology oriented companies have increased market capitalization.

Which of the following is true accelerating the 'relocalization' of supply chains where companies serve regional markets with goods largely sources within that region?

The advancement of manufacturing technologies reducing cost differentials.

Global Trade Management has a certain amount of volatility. Why is the current environment described as hyper-volatile?

The idea of key institutions governing trade, like the World Trade Organization and multilateral free trade agreements.

In SAP Integrated Business Planning (IBP), why has supply chain planning become so complex?

To deal with uncertainty of demand and customers with high expectations on service levels and delivery times, systems and processes need to be perfectly synchronized to manage today's world and tomorrow's reality.

___________ allow countries to implement anti-dumping, subsidies, and safeguards against countries.

Trade remedies

A Customs Broker is licensed by the U.S. Customs and Border Protection (CBP) and are experts in the import process and procedures.

True

A good starting point for a company on the lower end of the global trade expertise spectrum is to outsource and then bring functionality in-house when confidence in internal trade compliance competency grows.

True

Amazon SCOT gets customers the products they want at the right price faster than anyone else.

True

Creative approaches to persuade potential suppliers to produce things not make in the United States, even helping to finance new plants or sharing freight and logistic cost savings, are being used to rebuild the U.S. supply base.

True

Intelligent algorithms can learn by automatically detecting new parameters for the model.

True

To lawfully enter imports into a U.S. port of entry, whether by air, land, or sea, you must obtain approval from the U.S. Customs and Border Protection (CBP) import process.

True

When creating a network model in Supply Chain Sim, you first use design mode and you can check that your network structural components are valid.

True

When working to optimize trade-offs between important business decisions, even decisions that appear simple can require complex analysis.

True

Without patterns, we can make reliable predictions.

True

Which of the following statements is false about common foreign import regulations?

U.S. exporters need to only comply with U.S. laws of certain products, places, and people to access another country's market.

_________ is a type of machine learning with a goal to find structure in unlabeled data or data without a target or without labeled responses.

Unsupervised learning

Which of the following statements is false regarding Amazon Supply Chain Optimization Technologies?

Uses Internet of Things exclusively to enable customer order promises and deliveries.

________________ is the representation of a situation or set of data in a chart or other image.

Visualization

Using data from a person's smart phone, can we transmit the data for analysis to construct a model of that person's life and behavior?

Yes

Which of the following modeling features is not relevant to Supply Chain Sim?

You can specify customer service demand and market channel traits.

Statistical demand modeling and machine learning can make more reliable predictions to optimize supply chains, especially with growing complexity as supply chain management needs __________.

adaptation or learning by listening

In Supply Chain Sim a supply chain network consists of ____________.

all the other choices

In Supply Chain Sim ___________.

anyone can create an animated simulation model

The SAP Integrated Business Planning (IBP) enables ________________.

companies to respond to new market expectations with real-time supply chain planning features that help meet demand profitably

A __________ may be required by a government agency to export a specific material or sensitive technology.

license?

When a machine takes output, observes the accuracy of the output, and updates its own model so that better outputs will occur, it is using ____________.

machine learning

A ______________ uses statistics (i.e. probabilities, patterns, etc.), to forecast future outcomes using variables that are likely to influence results.

predictive model

When searching data for patterns, feedback on accuracy or error on a model is calculated using probabilities, and while you cannot eliminate ___________, you can increase accuracy.

randomness

Artificial Intelligence (AI) is ___________________.

the capability of a machine to imitate intelligent human behavior

In 2004, the cost of manufacturing on the east coast of China was approximately 15% cheaper, on the average, than in the United States. In 2016, this gap was ____________.

1%

Within ___________ upon arrival an electronic filing is required on an import in the Automated Commercial Environment (ACE) System.

24 hours

Which of the following is a commercial good that would not be subject to import laws, duties, taxes, and fees?

A request for quote by a managed service provider in Europe.

__________ are computational models focusing on individual active components, or agents, where their behavior is defined and how they interact is observed.

Agent-based models (ABM)

___________ are procedures to solve a specific problem.

Algorithms

Which of the following factors have influenced the supply of enterprise simulation technology impacting availability of relevant, scalable, and user-friendly advances?

Change of consumer behavior and rise of e-commerce altering shopping and delivery expectations

Which phase of Global Trade Management requires companies to ensure they are not doing business with restricted countries or organizations, both with their choice of suppliers and the origins of raw materials or components, as well as keeping track of changes to customs legislation and international laws?

Check

_______________ helps to learn further best practices by collecting information on competitor products and services to pursue innovations and improvements.

Competitor Intelligence

Which of the following statements is false regarding use of competitor intelligence?

Competitor intelligence looks at direct rivals only when collecting information on competitor products and services.

What is free market research available online that is produced by U.S. embassies?

Country Commercial Guides

A concept that precautions giving the appearance of diligence when actually reduces the ability to manage supply chain performance in a risk-averse manner resulting in people delaying or avoiding difficult decisions, pushing responsibility to others, failing to acknowledge problems, etc.

Culture of Fear

__________________ requires every computer science tools and data analysis techniques available, as well as creating new innovations in these disciplines at Amazon.

Customer order promises and deliveries?

_______________ is a contract between customs and an importer for any given import transaction to guarantee payment of import duties, taxes, and fees to the U.S.

Customs Bond

____________ is an agent for an importer or exporter that prepares and submits all documents for clearing products through customs.

Customs broker

An individual or hacker that targets individuals or groups with the intent to harm using telecommunication networks, mobile phones, and other ancillary sub-systems.

Cyber Criminals

A malicious act that attempts to gain access to a computer network without permission from the owners.

Cyber Threat

________________ runs complex models, analyze scenarios, as well as factor in business rules and constraints so you can find the best course of action among numerous possibilities

Decision optimization

When creating a network model in Supply Chain Sim, you first use design mode and then you simulate. What is the first step?

Define the products that will be processed through the supply chain.

Supply Chain simulation can be used to help predict performance and guide key decisions. When modeling a transportation network to compare trade-offs between service and cost, running different iterations varying fleet size and schedules can help predict the sweet spot required for investment needs. What type of strategy and execution decision is this simulation focusing on in the supply chain?

Determine Asset Utilization

___________ is a form of analysis that factors time and variability into each individual transaction, decision, and movement throughout the supply chain using a detailed model of the end-to-end supply chain.

Discrete-event simulation

__________ models look at processes or operations across a system or supply chain and is activity-based, meaning they run for a short period of time (not continuously).

Discrete-event simulation (DES)

Which of the following is not needed when seeking reputable overseas buyers?

Embassy Clearance

Which of the following objectives is not associated with decision optimization?

Enable execution of technology.

A strategy to identify, assess, and prepare for any anticipated and unanticipated events occurring both upstream and downstream in the supply chain that may interfere with an organization's operations and objectives.

Enterprise Risk Management

_______________ figures out how to expand to new markets by evaluating overseas demand, foreign buyers, payments, and requirements to complete shipment transactions.

Export Plans

Global trade, and the supply chains associated with it, are subject to less international regulations and legislation today.

False

SO 99+ or Service Optimizer 99+ brings artificial intelligence-based machine learning supply chain planning software to a focused or niche audience.

False

_______________ is used between at least two countries to reduce trade barriers, import quotas, tariffs, duties, etc. to increase trade of goods and services with each other.

Free Trade Agreement (FTA)

____________ is a person or company that organizes shipments to get goods from the producer to a market, customer, or final destination point.

Freight forwarder

What is the first step in finding foreign buyers for a business?

Global Web Presence

In Dynamic Simulation, what is the last question to consider in system dynamics?

How do you model the object to achieve the purpose for building the model?*

___________ is a rule that requires advanced cargo information to be submitted on import merchandise prior arriving in the United States by ocean vessels and failure to comply can result in monetary penalties, increased inspections, and delay of cargo.

Importer Security Filing '10+2'

Which of the following statements about the use of supply chain simulations and models is false?

Increasing risk through added complexity having real world impact on performance.

A category of risk that considers organizational size, ethos, structure, management support, specifiers, and the procurement and supply team.

Internal Environment Risk Influencer

________ human input to decisions is used in analytics focused in the future using prescriptive analytics for optimization, simulation, and association rules.

Less

_______________ uses data inputs, such as order and transportation history, to create and improve the forecast of outputs using algorithms in models.

Machine learning?

What is the second step in starting an export process for a business?

Market Entry

________ human input to decisions is used in analytics focused in the past or present using descriptive analytics for visualization and dashboard applications.

More

Which of the following statements about global trade is false?

More countries than ever before are adopting protectionist positions, requiring an inward view of people, processes, and systems.

In the supply chain realm, the branch of artificial intelligence, or AI, is known as machine learning. The adoption of machine learning in corporations is causing what result?

More differentiation in software vendors

Which of the following statements is primarily why enterprise simulation is moving into use throughout corporate supply chain organizations?

New business climate driving demand and information technology breakthroughs support it's potential.

Is our behavior truly unique or individual, such that analytics cannot predict our behavior using patterns in our habits?

No

__________ problems focus on maximizing or minimizing an objective function by systematically choosing different domains or inputs.

Optimization

Which of the following factors have influenced the demand of enterprise simulation technology impacting availability of relevant, scalable, and user-friendly advances?

Pace of change in new products, consumer behavior, commodity costs, and transportation delays

Which phase of Global Trade Management considers paperwork to manage checks and regulations that must be complied with to prevent trade embargos and sanctions, as well as support customer service level improvements?

Plan

Supply Chain simulation can be used to help predict performance and guide key decisions. When tracking sales to manage the flow of goods and store shelf levels, understanding lost sales or excess inventory can help predict on-time delivery needs. What type of strategy and execution decision is this simulation focusing on in the supply chain?

Predict Service

________________ is when we search for patterns in data to calculate the future from the past.

Predictable Analytics

Which of the following is not an example of clustering?

Predicting prices based on various parameters that traditionally cause increases or decreases.