SCM Test 1 MC

A worker can produce 1000 units during an 8 hour shift, thus the productivity of that worker is: 100 units/hour 80 units/hour 800 units/hour 125 units/hour None of the above

125 units/hour

The globalization trend presents numerous benefits to SCM including: Removes distance barrier between markets/consumers Consumers have greater product choices More supplier choices Cost savings All of the above

All of the above

The history of marketing involves three major perspectives, including: Production Selling Marketing All of the above None of the above

All of the above

Postponement is an effective strategy for some firms because it: Is relatively simple and inexpensive to implement Allows for local product customization Increases supplier involvement Decreases the need for relationship management Requires little technology

Allows for local product customization

A process is a set of activities designed to create: An output for the customer Integration Reduced costs Constraints Innovation and experience

An output for the customer

The most effective strategy when there are many variations of the end product is: Make-to-order Assemble-to-order Make-to-stock Adaptability None of the above

Assemble-to-order

One of the key aspects that must be considered when interpreting productivity measures is: Benchmarking Collaboration Coordination Responsiveness None of the above

Benchmarking

Distortion and inaccurate information as it moves from the retailer back through the supply chain is known as: Early supplier involvement Bullwhip effect Supply chain compression Reverse logistics None of the above

Bullwhip effect

__________ refers to the maximum amount of output that can be achieved by a process. Flexibility Variability Network Capacity Reliability

Capacity

Why have partnerships and alliances across enterprises become so important to SCM? Technology is expensive Companies want external supply chain partners to hold more risk "Early supplier involvement" is simple to implement Collaboration enables long-term viability and success in a competitive global environment a and c

Collaboration enables long-term viability and success in a competitive global environment.

Effective IT systems enable which customer service dimension. Time Dependability Transactions Communication Quality

Communication

Customer service strategy impacts the supply chain on four primary dimensions, including: Time, dependability, standardization, transactions Dependability, quality, channels, transactions Communication, convenience, dependability, time Convenience, time, customization, cost None of the above

Communication, convenience, dependability, time

How a company competes in the marketplace is defined as: Operations strategy Market segmentation Competitive priority Alliance development All of the above

Competitive priority

Variation is a challenge because it adds ________ and _______ to a process: Demand and supply Uncertainty and visibility Flexibility and visibility Complexity and uncertainty None of the above

Complexity and uncertainty

Three overriding SCM activities within and between firms include: Marketing, sourcing, logistics Suppliers, customers, manufacturers Products, information, funds Coordination, information sharing, collaboration Responsiveness, reliability, relationship management

Coordination, information sharing, collaboration

Of the five priorities by which companies compete in the marketplace, which relates to having efficient, integrated operations: Cost Time Logistics Service Market segmentation

Cost

SCM competitive advantage can be derived from two primary areas: Cost and value Suppliers and customers Productivity and sustainability Logistics and marketing Responsiveness and relationship management

Cost and value

A high-volume, low variability demand business requires which type of supply chain structure: Flexibility Cost-efficient Segmented Responsive a and b

Cost-efficient

The experience curve describes the relationship between: Value and experience Volume and experience Service levels and experience Costs and experience Innovation and experience

Costs and experience

The primary difference between logistics and SCM is: SCM is a more popular term Logistics is more strategic in nature There is no difference SCM takes a more strategic and managerial focus Logistics is more complex

SCM takes a more strategic and managerial focus

In managing processes, the view that focuses on efficiency is: Operations Distribution Transactional Relationship None of the above

Transactional

Creating successful and multiple exchanges with customers is termed: Transactional marketing Relational marketing Selling concept Marketing concept None of the above

Transactional marketing

An example of intra-organizational integration is: Marketing sharing promotion plans with operations Operations informing logistics of production plans Independent retailer sharing point-of-sale data with manufacturer Supplier informing manufacturer of a component defect a and b

a and b

An outsourcing strategy can result in the following: Ability to respond quickly to demand changes Gain a competitive advantage Eliminate risk Loss of flexibility a and b

a and b

Benefits to a company that can result from outsourcing include: Accessing new markets/customers Lower costs Decreased flexibility Decreased demand a and b

a and b

Factors in today's business environment that require companies to have adaptable supply chains include: Development of new technologies Frequent changing to a company's business scope Increase in outsourcing Increasing working capital needs a and b

a and b

Necessary efforts to improve supply chain security present new challenges to firms including: Regulation/compliance requirements Increased transport time and costs Shorter lead times Decreased need for relationship management a and b

a and b

One element of supply chain network structure includes: Number of companies in the supply chain Structural dimensions Vertical integration Supplier management a and b

a and b

One factor that influences a company's distribution channel structure is: Market coverage objectives Customer relationship management Product characteristics Suppliers a and c

a and c

Sustainable/green initiatives can be beneficial to firms in the following ways: Enhance supplier relationships/supply availability Increased regulation/compliance requirements Create efficiencies and cost savings Decreases need for relationship management a and c

a and c

An accelerated flow of funds through the supply chain can improve a firm's profitability by: Increasing interest rates Customers cannot be invoiced more quickly Creating a positive cash flow provides financial opportunity Increasing working capital needs None of the above

Creating a positive cash flow provides financial opportunity

From a total SCM perspective, a __________ can be at any step of the supply chain. Supplier Retailer Channel partner Wholesaler Customer

Customer

Factors driving the growth of SCM include: Better intra-organizational coordination Customer sophistication Early supplier involvement Reverse logistics capabilities Improved relationship management between firms

Customer sophistication

Stages of supply chain management include suppliers, producers, distributors, retailers, and: Financial flows Customers Reverse logistics Sustainability None of the above

Customers

The primary role of marketing in an organization is to link the organization to its: Suppliers Operations Customers Finance None of the above

Customers

How has greater customer affluence increased the importance of SCM? Customers demand higher quality and better service The internet empowered consumers with information Customers wanted more standardized, mass-produced products Customers wanted fewer product choices a and b

Customers wanted fewer product choices

A supply chain can be viewed as a system of processes that: Focus on costs Are vertically integrated Cuts across organizations to deliver value Are separate within an organization Eliminate bottlenecks

Cuts across organizations to deliver value

Information technology design enables: Value-segmenting Data sharing and communication Theory of Constraints ERP implementation a and c

Data sharing and communication

When defining a customer service strategy, companies should first: Outsource non-core competencies Define the sales volume and profits in each market segment Improve relationship management processes Pressure suppliers for lower costs and better service None of the above

Define the sales volume and profits in each market segment

Marketing plays a critical role in driving the actions of a company's supply chain because it: Defines how to create customer value Customizes products Defines a brand Works with operations None of the above

Defines how to create customer value

The channel structure that delivers a product immediately to the end customer is knows as: Indirect channel Retailer channel Direct channel Marketing channel Logistics channel

Direct channel

Target marketing recognizes customer: Operations Diversity Service Homogeneity All of the above

Diversity

Marketing focuses on the __________ area of the supply chain: Cost Downstream Productivity Logistics Upstream

Downstream

Capacity available under normal conditions is called: Design capacity Effective capacity Overtime capacity Outsourcing capacity None of the above

Effective capacity

The relationship view of process management seeks to: Enable/enhance coordination between supply chain partners Reduce costs across the supply chain Define how goods and services will be produced Utilize defined cost metrics All of the above

Enable/enhance coordination between supply chain partners

An individual who purchases a product for individual needs is known as: Supplier Retailer End customer/consumer Wholesaler Manufacturer

End customer/consumer

Adaptability, in terms of defining SCM strategy, relates to a company's ability to: Continually locate the lowest cost supplier Evolve and adapt as market conditions change Increase capacity as demand increases Outsource production None of the above

Evolve and adapt as market conditions change

From TOC, "exploiting the constraint" means to: Define the constraint Eliminate the constraint Find ways to best utilize the constraint Reduce variation None of the above

Find ways to best utilize the constraint

Operations strategy focuses primarily on: Improved coordination between supply chain partners Reducing inventory across the supply chain How goods and services will be produced Segmenting customers/markets All of the above

How goods and services will be produced

Distribution strategy involves decisions about: Supplier selection Product development Transportation modes How to get products to customers a and b

How to get products to customers

Two concepts that companies must continually monitor when evaluating strategy are: Regulation and compliance requirements Inventory levels and costs Time and quality Order winners and order qualifiers Innovation and quality

Order winners and order qualifiers

When a firm is focusing on its core competencies, it is engaging in which trend: Sustainability Financial supply chain Lean initiatives Risk management Outsourcing

Outsourcing

Two key aspects of the supply chain network include: Physical structure and management Vertical integration and outsourcing Flexibility and responsiveness IT and suppliers None of the above

Physical structure and management

The category in the marketing mix that relates most to quality and packaging is: Product Place Price Promotion None of the above

Product

SCM involves the design and management of three primary flows: Products, information, funds Suppliers, customers, manufacturers Distributors, retailers, customers Logistics, operations, marketing Responsiveness, reliability, relationship management

Products, information, funds

Investing in and utilizing RFID tag technology typically fits with which competitive priority: Time Quality Cost Segmentation a and b

Quality

Translating data about customer needs and preferences into technical specifications is known as: Value to the customer Quality function deployment Voice of the customer Customer relationship management a and b

Quality function deployment

In the evolution of marketing, the marketing concept focuses on: Standardization Selling Relationships with customers Costs None of the above

Relationships with customers

Characteristics of a competitive supply chain include: Outsourcing, reliability, technology Globalization, innovation, reliability Relationship management, finance, early supplier involvement Affluent customers, technology, transportation Reliability, relationship management, responsiveness

Reliability, relationship management, responsiveness

A demand-driven supply chain is focused on which SCM characteristic: Relationship management Collaboration Coordination Responsiveness Risk management

Responsiveness

Examples of 'downstream' players in a supply chain include: Suppliers Manufacturers Retailers Inbound transportation providers Accountants

Retailers

In defining a distribution strategy, a company must consider the importance of channel intermediaries including: Suppliers and manufacturers Suppliers and customers Retailers and distributors Distributors and suppliers None of the above

Retailers and distributors

The _______ customer strategy should be used when meeting very specific customer needs: Standardization Customization Niche Outsourcing Market segmentation

niche

The growing number and acceptance of customer returns has created an area of SCM called: Order fulfillment Distribution management Reverse logistics Sustainability None of the above

Reverse logistics

A motorcycle factory can produce 500 units of product in one day under normal conditions and 800 maximum units with overtime labor. In December, the factory produced 700 units. What was the factory's design capacity utilization in December? 87.5% 95% 160% 100% None of the above

87.5%

Viewing customer service as _____________ might include utilizing quality management practices. A philosophy A set of performance metrics An activity Billing and invoicing None of the above

A philosophy

A result of effective information flow through the supply chain is: Improved coordination and collaboration between supply chain partners Reduction in the amount of inventory across the supply chain Reduction of the bullwhip effect Compression of the supply chain from a time standpoint All of the above

All of the above

Building blocks of SCM strategy include: Operations Distribution Sourcing Customer service All of the above

All of the above

Challenges to developing a systems thinking viewpoint in an organization include: Competing goals and incentives Segmented organizational structure Lack of information sharing 'Siloed' decision-making All of the above

All of the above

Customer Relationship Management (CRM) can be an effective tool because it: Captures detailed customer information Customizes communications Aids/Contributes to market segmentation Can be added to larger ERP systems All of the above

All of the above

Key trends in SCM include: Outsourcing Advancements in IT Use of big data analytics Additive manufacturing All of the above

All of the above

Modules that are offered as part of an ERP system include: Manufacturing Finance Human resources Supply chain management All of the above

All of the above

One approach to help manage variation is: Eliminate constraints Reduce buffers Reduce capacity Increase complexity Increase process flexibility

Increase process flexibility

In the evolution of marketing, the selling concept emerged because of: Improved coordination between supply chain partners Reducing inventory across the supply chain Increased competition in the marketplace Segmenting customers/markets All of the above

Increased competition in the market place

Designing a competitive supply chain network is increasingly challenging because of: Increasing complexity and product proliferation Vertical integration Outsourcing Alliance development All of the above

Increasing complexity and product proliferation

The most important factor that contributed to empowering customers was: Customer relationship management Internet Globalization Standardization a and b

Internet

One example of a strategy to manage increased variation is: Inventory buffers Reducing flexibility IT systems Outsourcing a and b

Inventory buffers

The customer service dimension of time is enabled by effective: Benchmarking Supplier management Manufacturing Marketing Logistics

Logistics

Risks to a company that can result from outsourcing include: Customers demanding higher quality and better service Loss of control over a product or process Increasing technological capabilities Lower costs a and b

Loss of control over a product or process

Customers' ability to customize products reflects which operations strategy Make-to-order Assemble-to-order Make-to-stock Reverse logistics None of the above

Make-to-order

The most effective strategy for companies that produce standardized, commodity products is: Make-to-order Assemble-to-order Make-to-stock Reverse logistics Customer service

Make-to-stock

The place category in the marketing mix relates to: Quality and packaging Market coverage Pricing Sourcing Product visibility

Market coverage

Distinguishing one market/customer from another is known as: Distribution channels Supplier relationship management Market segmentation Bullwhip effect Customer relationship management

Market segmentation

The advantages from customized customer strategy are derived from: Standardization Market segmentation Outsourcing Cost reduction All of the above

Market segmentation

A motorcycle factory can produce 500 units of product in one day under normal conditions and 800 maximum units with overtime labor. In December, the factory produced 700 units. What was the factory's effective capacity utilization in December? 87.5% 95% 160% 100% None of the above

None of the above

A product's cost advantage may include the following: High service Customization Reputation Sustainability None of the above

None of the above

The ______________ is an approach to sales that seeks to provide the customer with a seamless shopping experience across multiple channels. alpha-channel beta-channel omni-channel omega-channel None of the above

Omni-channel

__________ is a strategy for managing increased supply chain complexity. Outsourcing Segmentation ERP systems Alliance development All of the above

Segmentation

In terms of market coverage, ___________ distribution should be used for products with high value, exclusive branding: Intensive Selective Indirect Direct None of the above

Selective

Supply chain visibility increases supply chain reliability through: Shared understanding of real-time demand data by all supply chain partners Increasing variability across the supply chain Improved relationship management Understanding customer needs more quickly Putting more pressure on suppliers

Shared understanding of real-time demand data by all supply chain partners

The outsourcing decision relates to which building block of SCM strategy: Operations Distribution Sourcing Logistics Customer service

Sourcing

Companies that compete primarily on innovation typically focus on two attributes: Operations and logistics Sourcing and operations Quality and time Speed and product design Cost and time

Speed and product design

A __________ customer strategy focuses on minimal product customization: Customized Niche Standardized One-to-one None of the above

Standardized

Examples of 'upstream' players in a supply chain include: Suppliers Customers Retailers Distribution centers Outbound transportation providers

Suppliers

A key element that supports supply chain strategy is: Supply chain network design Customization Vertical integration Sustainability None of the above

Supply chain network design

A company's supply chain contributes to its success because it can provide more ______ to a customer than a competing supply chain: Risk Value Products Transactions a and b

Value

Ways that companies can gain a value advantage include: Value-segmenting Supplier relationship management Service and support Lowest cost a and c

Value-segmenting

Firm ownership of upstream suppliers is known as: Capacity management Vertical integration Core competencies Outsourcing a and b

Vertical integration

One of the most important benefits of integrated IT systems is improved _________ across the supply chain: Relationships Sourcing Quality Visibility Cost

Visibility

A segment of a logistics channel might include: Wholesalers Retailers Manufacturers Warehouses Suppliers

Warehouses