Supply Chain midterm '19
According to the article what are two (among many) factors which influence how a company will set up its supply chain
Escalating globalization and changing customer expectations
A strategic partnership with a supplier:
Is a commitment over an extended period to work together to the benefit of both parties
Strategic sourcing is a comprehensive approach for locating and sourcing key suppliers which often includes the business process of analyzing the total-spend by material category
True
Supply chain management starts with understanding the flow
True
The make to order or build to order strategy takes longer for customers to be filled with then the make to stock or build to stock strategy
True
When completing a math problem in excel, you must use an _____ sign in order for Excel to complete the operation
=
Which of the following is the best description of a preferred supplier
A supplier who best meets your company's overall purchasing requirements
What are two advantages to the single source supplier strategy
Better prices and easier to manage supplier relationships
Which of the following is not a common mode of transportation for materials or products in the supply chain
Bus
What is the purpose of a two-way performance scorecard
Collaboratively identify areas for improvement
List three ways that you have had to use teamwork in supply chain
Communication, greater good, doing my part
Which of the following is not included in operations management
Creating a business strategy
Which of the following describes "fluctuating demand"
Customers desire for the product varies over time
What are two US government agencies that will likely determine whether the fresh produce in this reading can be purchased by a consumer
Department of agriculture and customs and border
Which of the following is a correct very simple description of this supply chain flow
Describing the steps to get fresh produce from South America to US consumers
If your company is currently functioning in a high-risk environment which would be better:
Distributing your sourcing decisions among several suppliers
Which of the following have affected the development of supply chain management
Innovation, technology, and the Internet
Which of the following manufacturing strategies has the potential for the excess inventory, and can also cause companies to struggle to make the correct product at the correct time in the correct quantities
Make to Stock
What is the main responsibility of operations management
Manage the business function for the process of creating goods and services of a particular company
What term is used to describe when a product can be taken off the boat and brought to shore
Offloaded
List one of the many career options we have discussed that are in Supply Chain
Operations Manager
How else can you express the idea "concept to customer"
Original idea to product in customer's hand
Buying materials and components from suppliers instead of making them in house is known as
Outsourcing
What is the difference between qualitative and quantitative measures
Qualitative relates to perceptions opinions and non numerical evaluations while quantitative relates to numbers and data
How often should a company evaluate its suppliers
Regularly
What does transparency mean in this paragraph
Relatively easy access to a company's policies and procedures
What may determine how a company chooses an operations management strategy
The nature of the products or services the company provides
The objective of mass customization is to increase variety for customers while also realizing the cost advantages of high volume continuous in line flow processes
True
The purchasing tool described as "a detailed capabilities document used to determine a suppliers capability and interest in the product of a product or service" is called a request for proposal (rfp)
True
What is the synonym for "span" in the third paragraph?
Extend over
In the supply chain flow described here one company maintains control of the product from end to end
False
When completing a math problem in excel you put the order of operations within the _______ above the cells
Formula bar
What is another word for cold storage
Refrigeration
Is supply chain management a well-established field or one that is still developing
It is developing and responding to many different changes
list three ways a supply chain company could use a forecast when planning
Keeping updated with trends, customer interest/input, what/when is high in demand
In the context of this paragraph, what does the word "execution" mean
Put into practice
Based on the diagram which of the following correctly identifies the manufacturers tier 1 supply chain partners
Supplier c and customer c
Write a sentence correctly using the term lead time
The lead time for tennis shoes is 30 days
What are the two main goals of operations management
To convert materials and labor into goods and services and maximize profits for the company
Why is it necessary to have so many inspections
To make sure quality is maintained
Which of the following is not a reason to have a single supplier
To spread the risk of a supply disruption
Among other advantages, preferred suppliers are more likely to provide capacity for meeting unexpected demand and also provide cost efficiency due to economies of scale
True
One disadvantage of a make to order or build to order strategy is that companies do not have a ready supply of inventory to sell
True
The SCOR model includes all of the following except
Work
Out of the following options which one would be considered a weakness (something a company can control)
Your logistics process creates delayed shipping for your customers