4390 - FINAL REVIEW
IBP has become a standard practice in the industry, aiming at boosting revenue and improving cross-functional communication, what does IBP stand for? a. Internet Based Planning b. Integrated Business Procurement c. Integrated Business Planning d. Internet Based Procurement
b. Integrated Business Procurement
How can the rejection of finished products be reduced? a. Increasing production plan adherence b. Introducing raw material inspection c. Reducing obsolescence levels for finished products d. Increasing finished good safety stock
b. Introducing raw material inspection
How can a plan benefit your team decisions in TFC? a. It means you don't have to communicate b. It means no one sits in a silo of their own decisions c. It improves your ROI d. It sounds good.
b. It means no one sits in a silo of their own decisions
What is the main contributor of CO2 in your TFC supply chain? a. Warehouses b. Orange Mash c. Bottling Line d. Distribution
b. Orange Mash
What is true of both a plan and a forecast? a. They are hard to change once created b. They are based on assumptions c. They are usually function/department specific d. All choices are correct
b. They are based on assumptions
The article The Triple-A Supply Chain uses HP and Canon's team up on the LaserJet printer in order to show _______. a. That HP couldn't keep up their end of the partnership b. Why you shouldn't forget about agility c. How an efficient supply chain can end up with excess inventory d. All choices are correct
b. Why you shouldn't forget about agility
1. A positional stance when it comes to supplier relations is one characterized by a _________ relationship? a. Win-Win b. Win-Lose c. Lose-Lose d. No correct choices
b. Win-Lose
A company selling custom computers would be best off with what kind of supply chain strategy? a. Continuous-flow b. Agile c. Custom-configured d. Flexible
c. Custom-configured
Which of the following is not a way to reduce carbon footprint? a. Use low-carbon-emission transportation mode b. Use domestic suppliers instead of foreign supplier c. Improve frequency of delivery d. Promote clean, sustainable resource utilization
C. Improve frequency of delivery
1. Globalization will fully disappear when the process of reshoring ends. a. True b. False
F
1. Reshoring is preferred especially when: a. "Made in America" is important to brand image b. The foreign supplier is far away and it's the only source of the critical parts c. The supplier is having a good relationship with us. d. The unit price is lot higher if manufactured in the US
a. "Made in America" is important to brand image b. The foreign supplier is far away and it's the only source of the critical parts
As with most transformations, what is required to drive a successful change to circular supply chains? a. Internal buy-in b. Green thinking c. Excess capital d. Societal Pressure
a. Internal buy-in
Which of the following is not a principle mentioned in the article One Number Planning: The consequences - and Cure - for Misaligned Plans? a. Planning in silos with drive better decision-making b. Plans should be built on shared assumptions c. The Planning roles and accountabilities need to be redefined d. All the other answers are mentioned in the article.
a. Planning in silos with drive better decision-making
In TFC simulation, what's the default number of pallet locations in the raw material warehouse a. 900 b. 1500 c. 950 d. 1300
900
Which of the following is/are the method(s) to create alignment. (Choose all that apply) a. Exchange information and knowledge freely with vendors and customers b. Lay down roles, tasks and responsibilities clearly for suppliers and customers c. Develop dependable long-term partner relationships d. Equitably share risks, costs, and gains of improvement initiatives
A B D
According to the article The Triple-A Supply Chain, what is not a problem that solely low cost and high-speed supply chains can often run into? a. Inability to respond to unexpected supply or demand b. Mishandling of product launches c. Can't adapt to changing market structures d. Excess shipping cost
d. Excess shipping cost
1. Blockchain technology can improve the performance of supply chain in multiple ways. (Choose all that apply) a. Remove intermediaries b. Increase reliability c. Reduce fraud d. Improve transaction transparency
ABCD
1. When making the decision of reshoring or nearshoring, you will need to consider: (choose all that apply) a. Which supplier is going to reshore and who is not b. Balance between investment and risk c. When will supply chain reshore or nearshore Single sourcing or Duel sourcing.
ABCD
Which of the following are going to be the new normal of the supply chain? (Select all that apply) a. Dual sourcing for the raw materials and components b. More strategic inventory planning c. E-Commerce channels are mandatory d. Disaster planning and risk mitigation plan are necessary and need to be considered in advance
ABCD
Which of the followings are the benefits of adopting a circular supply chain? Choose all that applied. a. Improve environmental sustainability b. Greater public appeal c. Improve efficiency d. Being more attractive to shareholders and investors
ABCD
Which of the followings are the characteristics of circular products? Choose all that applied a. Degradable b. Repairable c. Recycling d. Longevity
ABCD
Which of the following is not a benefit of control towers mentioned in the article Defining the New Normal In Supply Chain! What's Normal Anyways? a. Real-time monitoring of operation b. Centrally management of operation c. Faster and more informative decision making d. More responsive logistic performance
d. More responsive logistic performance
What is not one of the reasons that is given for transformation efforts failing? a. Lack of Awareness b. Past Failures c. Past Success d. No correct choice
d. No correct choice
Which is not one of the 6 key factors for defining and optimizing the Supply Chain strategy from an environmental perspective? a. Reduce energy usage b. Reduce - Reuse - Recycle c. Reduce waste and improve efficiencies d. No correct choices
d. No correct choices
According to the article Supply Chain Strategies: Which one hits the mark?, which is not one of the four elements of supply chain strategy? a. Industry framework b. Unique value proposal c. Internal Processes d. Technological innovations
d. Technological innovations
1. Which technology should be used if you want to minimize or eliminate fraud in cap-and-trade approaches to reducing carbon emission? a. IOT b. DDMRP c. Machine Learning D. Blockchain
D. Blockchain
11. Which of the following is the best supply chain model for a very mature supply chain with high demand peaks and long period of low workload? a. "Flexible" B. "Agile" C. "Efficient" d. "Custom-configured"
a. "Flexible"
1. Real-time tracking for customers on shipments is an example of creating a _____________. a. Customer experience b. Customer fulfillment c. Innovated supply chain d. Transparent network
a. Customer experience
A continuous-flow supply chain is geared towards which overall type of strategy? a. Efficient b. Responsive
a. Efficient
1. The Fresh Connection has a supply chain that is primarily ___________ driven. a) Pull b) Push c) Both Push and Pull None of the above
b) Push
1. Blockchain is: a. An expensive tool b. A distributed ledger system c. A neat way to engage customers d. Bitcoin
b. A distributed ledger system
What is an example of a supply chain node? a. A distant finance office b. A warehouse/distribution center c. A ship carrying materials d. A distribution manager
b. A warehouse/distribution center
Which one of the following is a type of responsive supply chain? a. Efficient b. Agile c. Fast d. No choices are correct
b. Agile
1. Which of the following companies has been granted a patent that may help improve safety conditions with a drone that responds to human gestures? a. Tesla b. Amazon c. Alphabet d. Walmart
b. Amazon
In Article 14, the author gave an example about a circular supply chain: The packing of a _____ company's product can be broken down into dirt for farming purposes. a. Soap b. Beverage c. Athletic consumer goods d. Plastic
b. Beverage
With the boom in E-commerce, distribution and transportation hubs will need to be _____ to retail partners and end consumers. a. Farther b. Closer
b. Closer
With all of the advances in and reliance on technology and networks in our modern supply chain, what has become increasingly important? a. Analytics b. Cybersecurity c. 3D Printing d. No choices are correct
b. Cybersecurity
1. According to the article Why You Should Put the Customer at The Center of Your Supply Chain, supply chains should shift from sales forecasting to ____________. a. Demand planning b. Demand sensing c. Customer sensing d. Customer fulfillment
b. Demand sensing
The explosion of data and data-driven organizations through artificial intelligence, blockchain, and the IoT is going to eliminate interwoven areas of vulnerability in systems and tools. a. True b. False
b. False
Why is material handling considered as a waste in Lean management philosophies? a. It cannot be automated b. It doesn't add value to the product c. It takes a lot of time d. it generates unnecessary cost
b. It doesn't add value to the product
What is true about data analytics in the planning process? a. It makes for perfect plans b. It's a great tool, but it's people that actually make and execute the decisions c. Java & SQL are useful in creating statistical analysis d. Only one area of a business should be focused on at once
b. It's a great tool, but it's people that actually make and execute the decisions
1. Treating the Supply Management Role as a __________decision is more beneficial to the organization as a whole. a. Tactical b. Strategic
b. Strategic
Which of the following is the best supply chain model for a very mature supply chain with a customer demand profile that has little variation? a. "Fast" b. "Efficient" c. "Continuous-flow" d. "Flexible"
c. "Continuous-flow"
Which of the following is one of the Triple-As mentioned in the article The Triple-A Supply Chain a. Activeness b. Abundance c. Alignment d. No choices are correct
c. Alignment
Planning is built on ________. a. Trends b. Facts c. Assumptions d. Ideals
c. Assumptions
According to the article Top 10 Supply Chain Trend in 2021, Ecommerce boom elevates consumer expectations of _______. which of the following is not mentioned? a. Flexible shipping b. Flexible fulfillment option c. Better customer service d. No choices are correct
c. Better customer service
Which company was highlighted by the article The Triple-A Supply Chain as an example of a non-Agile company? a. Zara b. H&M c. Compaq d. No choices are correct
c. Compaq
What is not one of the benefits for a manufacturing company switching to a circular approach? a. Improved efficiency b. Improved public perception c. Cost reductions d. Increased employee retention
c. Cost reductions
Regarding The Fresh Connection, which costs do not primarily depend on TFC sourcing strategy? a. Purchase cost of raw materials and components b. Variable costs in the inbound warehouse c. Fixed costs in the bottling line d. Costs associated with discarding defective raw materials or components e. Cost of transporting raw materials to TFC facilities
c. Fixed costs in the bottling line
1. COVID brought about a renewed focus on re/nearshoring for which industry in particular? a. Defense b. Hand Sanitizer c. Healthcare equipment d. No correct answers
c. Healthcare equipment
According to the article The Triple-A Supply Chain, which of the following is not a method to foster agility in supply chain. a. Promote flow of information with supplier and customers b. Develop collaborative relationship with supplier c. Build inventory buffers by maintaining a stockile of inexpensive but key components d. Create flexible product design
d. Create flexible product design
What is one way to help mitigate a supply disruption? a. Automation in your manufacturing process. b. Having a better E-Commerce channel for customers c. Having a Don't Touch supply chain strategy d. Dual Sourcing
d. Dual Sourcing
was an example of a company that successfully changed one of its production processes to be more sustainable and use less water. a. Nike b. IKEA c. Michelin d. DyeCoo
d. DyeCoo
Shelf life agreements impact: a. Contract revenue b. Costs c. Bonus and Penalties d. ROI (Return On Investments) e. Shelf life agreements impact all of the choices
. Shelf life agreements impact all of the choices
In the TFC simulation, what is the default production interval (days) a. 8 b. 5 c. 10 d. 3
10
In TFC simulation, mow many pallets in 1 FTL. a. 100 b. 50 c. 30 d. 25
30
1. According to article How to build more secure, resilient, next-gen U.S. supply chains, the COVID-19 will accelerate of the trend of globalization and boost GDP. a. True b. False
F
1. Complete reshoring of supply chains into the U.S. would eliminate most supply chain risks. a. True b. False
F
1. Innovative product with short life cycles and relatively low demand variability requires market-responsive supply chains with nearshored or domestic sourcing and production a. True b. False
F
1. Reshoring means bringing manufacturing and part, or all, of the supply chain to a location near the home country. a. True b. False
F
1. Sole-sourcing with a foreign supplier is considered a high-risk event. However, the same risk associated with sole-sourcing with a foreign supplier will not be presented if you choose to sole-source from a domestic supplier. a. True b. False
F
1. The immutable transparency of blockchain won't disrupt the money and banking system. a. True b. False
F
1. Your supply chain network should only be re-evaluated and balanced once every 5 years or so. a. True b. False
F
According to the article Defining the New Normal In Supply Chain! What's Normal Anyways?, the advanced technologies utilized is the core of the digital supply chain a. True b. False
F
Different department has their own responsibilities and goals, so it is ok if each department build their forecasting models based on their own different assumptions. a. True b. False
F
IoT technology could help managers better regulate a cold supply chain like the chain needed for vaccine distribution. a. True b. FalsE
F
Moving towards a circular supply chain is more like a transformation that happens within an organization, it does not require external collaboration. a. True b. False
F
Only the logistic part of the supply chain has an impact on the carbon footprint, operations have little impact on the carbon emission level. a. True b. False
F
PET finished goods are less carbon intensive to produce than their Pack 1L counterparts. a. True b. False
F
Repairability is not another growing trend in the circular economy. a. True b. False
F
The Circular supply chain mindset is only applicable to the manufacturing industry. a. False b. True
F
The agile supply chain is best for companies that produce trendy products with a short lifecycle. a. True b. False
F
The objective of developing supply chain with adaptability is to quickly respond to short-term changes in demand or supply, and handle external disruption smoothly a. True b. False
F
1. Calculate the ROI based on the following information - show your formula. Realized revenue $4,895,781 Cost of Goods Sold $2,504,321 Gross Margin $2,391,460 Indirect Cost $1,861,674 Investment $4,300,000
ROI = 12.32% = (gross margin - indirect cost)/ investment x 100% =2391460 - 1861674 / 4300000
1. A collaborative approach in TFC would likely lead to smaller disruption times when risk occurs for a material. a. True b. False
T
1. A purely efficient/lean supply chain may lack the resiliency to handle any major disruptions. a. True b. False
T
1. According to article 12 The 5 Ws of reshoring supply chains, more nearshoring does not necessarily mean that the supply chain is more resilient. a. True b. False
T
1. Belt and Road Initiative has boosted the development of new supply chain designs and increased cross-border trade between China and other countries. a. True b. False
T
1. Cyber security is crucial for growth and mainstream adoption of DeFi apps. a. True b. False
T
1. In order to outperform in the tremendous competition, a company not only need to transform the way it interacts with its customer but also needs to align with its partners to meet customer's expectation. a. True b. False
T
1. Multiple sourcing usually takes the form of 1 local supplier and 1 from oversea. a. True b. False
T
1. Social media monitoring is one of the approaches to collect customer demand data. a. True b. False
T
1. The Author of Article 10 Supply-Chain Risk Planning: What's the Best Approach? Has mentioned his successful experience in developing a world-class supplier development function. He mentioned there are 2 important factors that lead to the success of the team. First, develop overall strategy and process framework. Second, people were hired with the education and background that aligned with the overall strategy. a. True False
T
Benchmarks beyond your industry will allow you to discover new possibilities. a. True b. False
T
Design for postponement is a method of fostering supply chain agility. a. True b. False
T
If a company can reclaim old products and easily recycle some of or all raw materials, it will be able to reduce its costs considerably a. False b. True
T
No matter what your product is, reduce, re-use and recycle is always a good way to protect environment. a. True b. False
T
One of the possible reasons for failing to transform is that the leader is not aware of the shifts in their environment and they think the Status quo is already good enough. a. True b. False
T
Part shortages, delivery challenges, and production stoppages were already normal before the COVID pandemic. a. True b. False
T
The article The Triple-A Supply Chain uses Seven-Eleven Japan as an example of how important having all three A's is for a supply chain. a. True b. False
T
The daily activities of supply chain will establish a carbon footprint impact on the environment. a. True b. False
T
The organization holding on to its past success and refuse to change will be replaced by those organizations that adapt to changes. a. True b. False
T
Those in supply chain areas have much more power than most people to directly or indirectly affect the environment through carbon emissions and other things. a. True b. False
T
Too much focus on analysis and the data could lead you to not being able to move forward. a. True b. False
T
While a linear supply chain throws away the scraps as trash, A circular supply chain will reuse and harvest the value and treat it as a starting point for a new process. a. False b. True
T
1. Blockchain can help with: a. Managing data sharing along the supply chain b. Keeping pricing levels and costs secret c. Connecting suppliers overseas d. Strengthening passwords
a. Managing data sharing along the supply chain
1. Which of the following is not a tenet of building supply chain resilience mentioned in article 5 a. Optimize Distribution Networks b. Rapid detection and response to the changes c. Build safety stock d. Collaboration of private and public supply chain stakeholders
a. Optimize Distribution Networks
1. The usage of Blockchain can bring positive changes to many fields with its immutable transparency, select all the correct fields. a. Supply Chain Management b. Marketing c. Data connection d. Human resources
a. Supply Chain Management c. Data connection d. Human resources
1. According to the article Why You Should Put the Customer at The Center of Your Supply Chain, customers increasingly want suppliers to have ethical, ______________. a. Sustainable processes b. Transparent networks c. Exciting ads d. Paper packaging
a. Sustainable processes
1. In the TFC simulation, what are the effects we see after you increase the safety stock level of Vitamin-C, select all the correct options. a. The availability pf Vitamin-C will go up b. Penalty level will decrease c. Production plan adherence will increase d. Lot size of Vitamin-C will decrease
a. The availability pf Vitamin-C will go up b. Penalty level will decrease c. Production plan adherence will increase
1. In the TFC simulation, what are the effect we see after changing the service level from 95% to 85%, select all the correct options. a. The contract index will decrease. b. The penalties will decrease. c. The retained shelf life will go up d. Sales volume will go up
a. The contract index will decrease. b. The penalties will decrease.
In TFC simulation, what can change after increasing speed of the bottling line? Choose all the correct answers a. The extra speed will decrease the need for overtime b. The production line adherence and service level will increase c. The higher inventory level will increase obsolete value d. The cost for flexible labor will go down
a. The extra speed will decrease the need for overtime b. The production line adherence and service level will increase
Why is it important for your forecasts to align under one overall plan? a. To ensure all departments are working toward the same goal b. It reduces redundant jobs c. Because it's easier to manage d. To get the job done faster
a. To ensure all departments are working toward the same goal
Information-sharing and global data harmonization and standardization will shift today's focus on putting out fires to predicting them. a. True b. False
a. True
It is important for your plans to be difficult to overrule. a. True b. False
a. True
Resilience is a key focus of risk prevention a. True b. False
a. True
TFC contract index for suppliers and customers: a. Should be the same b. Higher contract index for suppliers and customers implies lower purchase values and sales revenue c. Higher contract index for suppliers and customers implies higher purchase value and sales revenues d. Lower contract index for suppliers and customers implies reduced costs
c. Higher contract index for suppliers and customers implies higher purchase value and sales revenues
1. What is a reason that companies choose to sole-source from suppliers? a. Increased responsiveness b. Increased tooling costs c. Higher volume discounts They like risk
c. Higher volume discounts
1. One of the biggest hurdles for companies looking at re/nearshoring is: a. Labor costs b. Transportation costs c. Initial Investment costs All choices are correct
c. Initial Investment costs
What is the first reason that is given for transformation efforts not getting off the ground? a. Benchmarks leading to Comfort b. "We've always done it that way" attitudes c. Lack of awareness of a need to change d. A lack of leadership
c. Lack of awareness of a need to change
The effective operation of The Fresh Connection outbound warehouse is critical in: a. Ensuring raw materials are available in a timely manner. b. Increasing efficiency of the bottling line. c. Reducing customer order processing cycle time. d. Decreasing cycle times in the mixing line. e. Reducing the cost of direct materials.
c. Reducing customer order processing cycle time.
1. The objective of supply chain network design is to balance service level against all of the following except: a. Production Costs b. Inventory Costs c. Sales Costs d. Risks
c. Sales Costs
Awareness of the factors that prevent transformation efforts is important, which of the following is not a tip mentioned in Article 13: a. Inviting external expert to join the conversation b. Initiating an annual analysis of resistance to change as part of the regular routine c. Setting a detailed implementation plan of the transformation d. Recognizing the difference between knowing a transformation and executing the transformation
c. Setting a detailed implementation plan of the transformation
10. Within the industry framework, there are four main drivers affecting supply chain design, please identify all incorrect choices below. a. Demand variation b. Market mediation costs c. Transportation time d. Product lifecycl
c. Transportation time
1. Artificial intelligence is an example of which of the following project type. a. Innovation product b. Functional product c. product of critical importance to defense, security health and national competitiveness d. Technological Product
c. product of critical importance to defense, security health and national competitiveness
1. Leveraging new technologies can help your supply chain in which of the following ways? a. It can help blend the advantages of distributes and centralized supply chain systems. b. It can help provide real-time demand data to be used. c. It can help rebalance relocatable production. d. All choices are correct
d. All choices are correct
1. What is one of the reasons for the big movement to reshore/nearshore? a. COVID disruptions b. Trade wars/tariffs between countries c. Political pressures d. All choices are correct e. Two choices are correct
d. All choices are correct
What is one way to help reduce/manage your environmental impact? a. Thoughtful supply chain node selection b. A good program of reverse logistics/repairs c. Using technology to make things more efficient d. All choices are correct
d. All choices are correct
is essential to creating a circular supply chain. a. The right mindset b. Collaboration with suppliers/customers c. Changing views on excess/waste d. All choices are correct
d. All choices are correct
A supply chain that reuses and creates values from the waste and end-of-life products is called _____ supply chain a. Round b. Sustainable c. Linear d. Circular
d. Circular
1. When managing critical parts supplier (which owns the intellectual property of their design). Which of the following supplier relationship management method should be used. a. Positional b. Partnership c. Buy the market d. Collaborative
d. Collaborative