MKG 360 Exam 1 Ch. 1

Which of the following can be classified as a 3PL?

A company that... 1. offers warehousing services 2.offers transportation services 3. offers customs clearing services

Which of the following would be considered a third party provider?

A firm that leases storage warehousing

The following supply chain concept was introduced in the 1990's in an attempt to reduce waste and increase performance:

Business Process Reengineering

A factor that encourages and enables firms to work together more effectively than ever before is

Communication technologies

Who is considered the End Item Manufacturer's second tier supplier?

Components Manufacturer

According to the textbook, conditions which must be present for successful supply chain management include:

Cooperation among firms

The term Supply Chain Management and the field of study it represents today seems to have emerged in the:

1980's

Which of the following is a reverse logistics activity:

Recycling products and components

Which of the following statements is TRUE? ​ A. Supply chain management was invented by the auto manufacturing industry ​B. Strategic partnerships are seen as one of the foundations of supply chain management ​C. Purchasing is seen as the final and most difficult step in the supply chain ​D. Service response logistics is the digital distribution of services

​B. Strategic partnerships are seen as one of the foundations of supply chain management

The following is an example of the bullwhip effect

Barkley's incorrectly anticipates consumer demand resulting in stockouts at several popular retailers

Which of the following acronyms is NOT paired with its correct "translation?" ​A. TQM - Total Quality Management ​B. JIT - Just-in-Time ​C. MRP - Manufacturing Responsiveness and Planning ​D. ERP - Enterprise Resource Planning

C. MRP - Manufacturing Responsiveness and Planning (material requirements planning)

Right-shoring refers to:

Contraction activities within the supply chain - U. S. firms are considering moving their foreign production back home...this is an example

Transportation management, customer relationship management, distribution network, and service response logistics are all important issues that are most closely related to:

Logistics

One operational method for managing inventory is the implementation of a software system which can be referred to as:

Material Requirement Planning

Assembly or production of finished products, producing the right amount of product, and ensuring that finished products meet specific quality, cost, and customer service requirements are all important issues that are most closely related to:

Operations

Lean production is typically associated with which of the following company's production systems?

Operations elements

Who is considered the second tier supplier of the firm that manufacturers Sub-assemblies?

Raw Materials Supplier

A certain supply chain is made up of:

Raw Materials Supplier Components Manufacturer A firm that manufacturers Sub-assemblies End Item Manufacturer Wholesale Distributor Local Retail Chain Warehouse

According to the textbook, the order of product & service flow is as follows:

Raw material supplier, component manufacturer, end product manufacturer, wholesale distributor, retailer, end-product consumer

Which of the following is strategy usually employed by lean organizations in an effort to ensure continued quality compliance among suppliers and with internal production facilities?

Six Sigma

Encouraging or helping a firm's suppliers to perform in a desired fashion can be referred to as:

Supplier management

An internal or external event that causes a disruption or failure of supply chain operations is an example of

Supply Chain Risk

According to the text, the FOUR important elements of the supply chain are:

Supply, operations, logistics, integration

Which if the following statements is TRUE of many large firms today?

They're moving away from in-house vertically integrated structures to supply chain management