Exam 1
Which of the following is NOT a symptom of poor inventory management?
Ability to find items in a timely manner
The marketing concept is comprised of:
All of the above (customer satisfaction, integrated effort, and long-term profitability)
Lilly's Lettuce wants to track each head of lettuce from the farm to the retailer. The best tool to use would be
Bar Codes (UPC)
What causes supply chain disruption? How can we prevent them?
Contingency plans to react to natural disasters, notifying customers of delays,
Logistics management includes control of finished goods only and does not include raw materials or work in process.
False
Of all of the modes of transportation, air is the most flexible and versatile.
False
Once a transaction has been completed with a buyer, the seller's job is done.
False
Sales and Operations Planning (S&OP) uses only qualitative methods to construct a sales forecast.
False
Sales forecasting needs to be perfect, or near perfect, to be useful
False
Supply chain management is another name for integrated logistics management.
False
The Order Management process ends with the delivery of the product and the customer's payment.
False
In general, infrastructure improvements have not kept pace with increasing supply chain demands.
False?
Describe one of the societal issues impacting SCM
GDP, Globalization, Safety/Protection (post 9/11), Sustainability, Infrastructure
In supply chain management, terrorism and government instability would be examples of _____ risk.
Geopolitical
Which of the following is not a component of the balanced scorecard approach to performance measurement?
Government and Regulatory Issues (it includes customer service, financial performance, and Education and Learning)
Which of the following is not an important reason to forecast sales?
Improve warranties
All of the following functions or activities would be part of supply chain management except:
Marketing research (does include collaboration with suppliers, logistics management, and sourcing and procurement)
The only mode of transportation that moves products point-to-point is
Motor
Which order management step would involve customer service issues with incorrect pick lists?
Order fulfillment
_____ starts with the initial contact between customer and supplier and ends with the delivery and support.
Order management
The Mini-Mart in Oxford, Ohio holds monthly sales of slower moving goods to make room for incoming products this is:
Poor inventory management
Which of the following would be considered a part of the pre-transaction element of customer service?
Product Tracking & Written customer service statement, not order convenience, or reverse logistics programs
Which of the following is not one of the dimensions or components of the SCOR Model?
Research (SCOR includes Deliver, Make, and Source)
Which of the following forecasting methods includes both qualitative and quantitative tools?
Sales & Operations Planning
What is a key reason why a firm would hold inventory?
To support a customer service policy
After sale support, such as handling product returns in reverse logistics, is an important component in customer service.
True
An important element of post-transaction customer service is the proper handling of customer complaints.
True
Application Programming Interfaces (APIs) are clearly defined means of communicating between various software programs.
True
Blockchain and Internet of Things (IoT) are two impactful applications that will affect the future role of information.
True
Customer service has three components: pre-transaction, transaction, and post-transaction.
True
Developments of new and expanded technologies allow firms to link their operations globally
True
FOB pricing determines whether the buyer or seller pays the shipping/transportation costs.
True
Longer order cycle times can result in the need for customers to hold more inventory.
True
Only one of the four balanced scorecards components deals with financial issues.
True
Supply chain management attempts to minimize costs and optimize customer satisfaction.
True
Supply Chain Management
planning, management, coordination, and collaboration of businesses with suppliers and logistics to fulfill supply and demand.