IS 522 Final Exam
Reverse Supply Chains for Commercial Return Which of the following are some of the key processes in a reverse supply chain? (3 Possible Correct Answer) A. remanufacturing B. product acquisition C. product disposal D. inspection and disposition E. asset maintenance
A. remanufacturing B. product acquisition D. inspection and disposition
Agile Manufacturing Videos Which of the following aspects of product quality can be managed by Quality Management Systems? A. Waster and scrap B. Distributor metrics and score card C. Audit execution for identifying product improvement opportunities D. Statistical variability analysis
NOT A. Waster and scrap C or D
Disposal actions on product returns could include which of the following Reduce the bullwhip effect Sold in secondary markets for additional revenue Donated for tax credits Products lines are terminated
Sold in secondary markets for additional revenue
Which of the following are key concepts in the design of forward supply chains? sublimation remanufacturing bullwhip effect product acquisition
bullwhip effect
Winning the Last Mile of E-Commerce Companies improve the efficiency of shipping products by using the demand information collected by their supply chain to leverage shipments with full truckloads (FTL) improve sales order planning allocate finished good inventory create sophisticated dashboards and cockpits
allocate finished good inventory
Efficient Logistics and Order Fulfillment Videos Which of the following is one of the measures you should put in place to better master today's challenges in logistics? Connect your extended logistics value chain across partners Upgrade the digital infrastructure Negotiate rates and schedules more frequently Use 3PL providers for core logistics processes
Connect your extended logistics value chain across partners
Product Innovation Videos Which of the following is NOT a key capability of a compliance A. management solution B. dangerous goods management C. label management D. product compliance E. manage product specifications
E. manage product specifications
Winning the last mile of e-Commerce Resource exchange often requires pooling or exchanging resources which are most often provided by (2 Possible Correct Answer) E. substituting information flow for physical flow A. merge-in-transit strategy B. an electronic marketplace C. Logistics service provider D. a diverse customer base
E. substituting information flow for physical flow C. Logistics service provider OR B. an electronic marketplace
Rapid-fire fulfillment One of Zara's principles was to have a consistent rhythm to its supply chain, which included A. consistent and transparent rhythm in ordering and fulfillment B. running regular fixed production runs C. fulfillment is done on a flexible schedule D. retail stores place orders twice weekly
NOT A. consistent and transparent rhythm in ordering and fulfillment D.
Reverse Supply Chains for Commercial Returns Which of the following is not a key process of most return supply chains? (1 Possible Correct Answer) product acquisition B reverse conditioning marketing remanufacturing
B reverse conditioning
The triple-A supply chain Triple-A supply chain will have products that ... A. have a standardized product design B. are designed in collaboration with suppliers and customers C. are well integrated within the supply chain ecosystem D. can be tracked throughout the supply chain
B. are designed in collaboration with suppliers and customers
Winning the Last Mile of E-Commerce A resource exchange strategy requires A. stable demands that do not distort demand value B. density that products are modular C. ratio of transportation cost to product value be high D. bulky products of low value
C. ratio of transportation cost to product value be high
Inventory-driven costs Product returns not only lead to operational costs of shipping, handling, product retesting and the like, they also increase A. production lead time B. product life cycle C. time product spends in the supply chain D. search costs
C. time product spends in the supply chain
How Motorola put CPFR Into Action At a fundamental level CPFR requires supply chain partners to move from (2 Possible Correct Answer) A. allowing many suppliers to compete for business and reduce the number of supply chain partners to make collaboration possible. B. reducing inventory costs to improving profitability C. typical 'arms length' transactional relationship to one that emphasizes collaboration D. inefficient transactional relationships to an efficient transactional relationships E. change in communication points and formal processes
C. typical 'arms length' transactional relationship to one that emphasizes collaboration E. change in communication points and formal processes
The triple-A supply chain Adaptable supply chains refer to the ability of supply chains to ... A. adopt and adjust with technological changes and advances B. align incentives for supply chain partners to improve overall performance C. recovering quickly from disruptions and shocks to the supply chain D. continuously provide supply chain partners with data on changes in supply and demand
A. adopt and adjust with technological changes and advances
Mastering the three worlds of information technology In the case of Enterprise Information Technologies (EIT) A. changes become necessary as the system goes live B. users can create complements C. allows employees to interact with each other D. complements can emerge over time E. it is important to test and build virtual processes
A. changes become necessary as the system goes live
Operational Excellence Videos At the heart of a risk-based approach is the risk matrix the is used to classify risks in terms of A. impact and likelihood B. control hazards and compliance requirements C. effectiveness and extent of change needed D. safety impacts and frequency
NOT B. control hazards and compliance requirements A. maybe
***How Motorola put CPFR Into Action Accurate forecasting for Motorola was difficult because .... (2 Possible Correct Answer) A. Motorola uses rapid prototyping to develop new phone models. B. Motorola does not understand customer segmentation well C. a phone model may have multiple SKU. D. forecasts by their very nature are inaccurate E. cell phones have short product life cycles.
NOT D & E Correct: C. a phone model may have multiple SKU. E. (sounds correct..)
Winning the Last Mile of E-Commerce Third-party logistics providers (LSPs) have A. use merge in database strategies to coordinate shipment B. the capability for tightly controlled schedules C. track and trace capabilities built into their systems D. floating warehouses
NOT floating warehouses A & B
Winning the Last Mile of E-Commerce Companies improve the efficiency of shipping products by using the demand information collected by their supply chain to A. improve sales order planning B. create sophisticated dashboards and cockpits C. leverage shipments with full truckloads (FTL) D. allocate finished good inventory
NOT improve sales order planning Correct: D. allocate finished goods iventory
How Motorola put CPFR into action CPFR: Collaborative Planning, forecasting and replenishment is a business practice that A. improves retail ordering and end-customer satisfaction. B. improves accuracy by combining the intelligence of multiple trading participants in the planning and fulfillment of customer demand. C. allows the supplier (for ex. Manufacturer) to manage the inventory of the customer (for ex. Retailer). D. reduces inventory by implementing supply chain management systems.
NOT: B., C., D. Correct A. Also correct: requires significant amount of information sharing.
Operational Excellence Videos Merging Information Technology and Operational Technology Data allows for new approaches through A. Design improvements B. Benchmarking C. Predictive maintenance D. Predictive analytics
Not B. C. Predictive analytics maybe
Efficient Logistics and Order Fulfillment Videos Enabling track and trace capabilities throughout the supply chain and logistics network with the Internet of Things will provide improved visibility increased convergence simplified material flow better root cause analysis
improved visibility
Efficient Logistics and Order Fulfillment Videos Escalating customer expectations for high quality, flexible delivery requires that logistics and fulfillment capabilities of the firm are capable of same day delivery multi-channel order management dynamic forecasting efficient transportation routing
multi-channel order management
Module 7 Agile Manufacturing What are the key components that are part of Connected Manufacturing? (2 Possible Correct Answer) A. manufacturing execution systems B. in-memory computing and databases C. integrated business planning D. product and portfolio management E. enterprise systems
A & E
Product Innovation Videos Which of the following Bills of Materials(BOM) is NOT provided and managed by a common digital product definition provide and manage? A procurement BOM A manufacturing BOM A service BOM A design BOM
A procurement BOM
***Module 6: Product Innovation Which of the following are key business drivers that impact the usage of Product Lifecycle Management systems in the process industries? (3 Possible Correct Answer) A. Compliance with corporate IT standards B. Providing capabilities that support the needs of product development professionals for rapid prototyping, development and decisions C. A tool focused only on capturing BOM data D. Facilitates the evaluation of products before going to the lab E. Meet customer expectations with regard to product innovation and individualization
A,B, or E is one correct answer no ****ing idea
***Rapid Fire Fulfillment The relentless introduction of new products in small batches actually (3 Possible Correct Answer). a. creates exclusivity at the expense of increased costs b. leads to heavy discounting of old stock as new items are stocked c. improves store traffic with repeat visits by customers d. allows stores to carry little inventory and reduce risk e. reduces costs of running out of an item
A,C,D (one or two may be correct)
Superefficient Company Streamlining cross-company processes with their supply chain partners is considered to be the next frontier for (3 Possible Correct Answer). A. Enhancing quality B. Enhancing working capital C. Speeding operations D. Reducing costs E. Reducing coordination
A. Enhancing quality C. Speeding operations D. Reducing costs
Module 6: Product Innovation Which of the following capabilities are needed in product development during the design phase in process industries? (3 Possible Correct Answer) A. Formulation management and simulation B. Searching C. Handover to manufacturing D. Quality control E. Shop floor integration
A. Formulation management and simulation B. Searching C. Handover to manufacturing
Introduction to Supply Chain Management Systems (Videos) Which of the following are organizational functions supported by an Enterprise Resource Planning (ERP) system? A. Manufacturing, Accounting and Human Resources. B. Network, Data center and Storage management. C. Electronic, B2B and C2C commerce. D. Material, Location and Strategic Planning.
A. Manufacturing, Accounting and Human Resources.
Module 5 Efficient Logistics and Order Fulfillment What are the main processes required to manage transportation effectively? (3 Possible Correct Answer) A. Order management B. Freight settlement C. Transportation planning and execution
A. Order management B. Freight settlement C. Transportation planning and execution
Introduction to Supply Chain Management Systems (Videos) What is the most commonly used approach in Carrier Selection Process to have more consistency and better budget. A. Static assignment at a fixed contract price using a strategic routing guide. B. Spot execution through private/public exchange. C. Static assignment from a pool of carriers with Tier pricing. D. Dynamic assignment from a pool of carriers with fixed pricing.
A. Static assignment at a fixed contract price using a strategic routing guide.
Japanese Automaker, U. S. Suppliers and Supply-Chain Superiority Japanese automakers are able to realize just-in-time transportation and delivery by A. developing a close working relationship with core carriers B. setting flexible delivery requirements C. staging buffer inventory D. having a flexible delivery schedule
A. developing a close working relationship with core carriers Also: Setting stringent delivery requirements. & Mixed-product loading and cross-docks
Rapid-fire fulfillment Zara defies conventional wisdom on how supply chains should be run in the garment industry. Some of these are A. encourage stock-out B. shaving exact production capacity C. supplying retail stores on demand D. produce simple products in house and outsource complex ones
A. encourage stock-out
Japanese Automakers, US Suppliers and Supply Chain Superiority Japanese automakers obtain much better performance on quality from their suppliers with (2 Possible Correct Answer) A. hands on teaching of lean production methods B. having higher-quality expectations C. frequent inspections D. daily meetings with suppliers E. special warranty reduction initiatives
A. hands on teaching of lean production methods B. having higher-quality expectations
Operational Excellence Videos Which of the following is an example of a process related to managing the life cycle of asset that can be supported by an asset network A. issuing, receiving and carrying out service bulletins B. environmental, health and safety compliance C. integrated with production routing D. receiving and installing spare parts
A. issuing, receiving and carrying out service bulletins
Operational Excellence Videos Which of the following is an example of a process related to managing the life cycle of asset that can be supported by an asset network A. issuing, receiving and carrying out service bulletins B. receiving and installing spare parts C. integrated with production routing D. environmental, health and safety compliance
A. issuing, receiving and carrying out service bulletins
Inventory-driven costs In order to control price protection costs, Hewlett Packard needed to: A. keep manufacturing turnaround times short B. manage supplier hubs C. seek economies of scale in production D. reduce the number of channel partners
A. keep manufacturing turnaround times short Also: Frequent replenishment cycles
The Problem with Legacy Ecosystems: One of the reasons for successful new digital business models like those of Uber and Nest is that they: A. leverage technology to connect more personally with customers B. they are built on social media C. they have access to vast amounts of venture capital D. exploit legacy systems to their advantage
A. leverage technology to connect more personally with customers
How smart, connected products are transforming competition Some of the critical parts of the new 'technology stack' firms need to support smart connected products include A. protocols that enable communications between the product and the cloud B. two-factor authentication C. warehouse automation and management systems D. Cross-docking integration
A. protocols that enable communications between the product and the cloud
Mastering the three worlds of information technology Organizational complements for processing general-purpose technologies that change the way companies do work are: A. redesigned processes B. broader-skilled workers C. a functional structure for the organization D. formalized hierarchical management and decision making
A. redesigned processes
Rapid-fire fulfillment Very few companies in the garment industry would allow for the following practices A. sending less than full truckloads (FTL) B. planning merchandise a year in advance C. running factories on multiple shifts D. discounting end of the season product lines
A. sending less than full truckloads (FTL)
Agile Manufacturing Videos Individualization of products is not just for tangible products made from components but also in process industries, where chemical, petro- chemical, consumer products and pharmaceutical manufacturers are producing A. smaller specialized batches B. multiple solution models C. recyclable formulations D. micro brewed chemicals
A. smaller specialized batches
Successful Build-to-Order Strategies Start with the Customer While holding inventory results in a variety of costs, it nevertheless A. stabilizes production volumes B. reduces the use of order banks C. is a way to increase the residual value D. encourages build-to-order demand
A. stabilizes production volumes Also: is a buffer against long lead times
Operational Excellence Videos Predictive maintenance requires A. vast amounts of historical data B. scheduled inspection rounds or IoT C. single cycle multiple counter strategy D. historical data on mean time between failures
A. vast amounts of historical data
Rapid-fire fulfillment Zara's supply chain subverts conventional logic wisdom in the garment industry by following a strategy of A. vertical integration B. global outsourcing C. joint ventures and alliances D. partial fulfillment and fragmentation E. horizontal integration
A. vertical integration
Rapid-fire fulfillment Contrary to conventional wisdom, having extra capacity allows for a responsive supply chain and is beneficial because A. waiting time shoots up exponentially when capacity is tight and demand is variable B. working capital fluctuations can put undue demands on capital investments and resources C. having reduced setup time D. it allows for economies of scale
A. waiting time shoots up exponentially when capacity is tight and demand is variable
Japanese Automakers, US Suppliers and Supply Chain Superiority Lean manufacturing is a philosophy of manufacturing that focuses on (3 Possible Correct Answer) A.highest quality product at lowest cost B.maximizing the learning curve C.economies of scale D.value stream E.JIT delivery
A.highest quality product at lowest cost D.value stream E.JIT delivery
***Module 8 Operational Excellence What is the impact of digital transformation on asset management? (3 Possible Correct Answer) a. Companies can replace preventative maintenance with breakdown maintenance. b. Digitization allows for new business models. c. Companies can switch to more sophisticated maintenance strategies. d. There is no longer a need to create an asset strategy. e. Asset operators can easily share information with OEMs.
B or C (1 is correct)
Introduction to Supply Chain Management Systems (Videos) Which of the following statement about Supply Chain Management Systems is true? A. MRP-III capabilities include material, labor and cost planning. B. In the 1990's, MRP-II functions were absorbed into larger ERP suites. C. MRP-II came out in the 1960s. D. Y2K bug issues were caused by older ERP systems.
B. In the 1990's, MRP-II functions were absorbed into larger ERP suites.
Operational Excellence Videos By running asset management as business within a corporation where firms can create new business models such A. Searching assets B. Selling assets as a service C. Cyber-physical systems D. Market mediation
B. Selling assets as a service
Introduction to Supply Chain Management Systems (Videos) Which of the following tasks is an execution task and not a planning task? A. Transportation Procurement. B. Shipment consolidation and carrier selection. C. Supply Chain Strategy/Network Design. D. Tactical transportation modeling.
B. Shipment consolidation and carrier selection.
Module 5 Efficient Logistics and Order Fulfillment What are the measures you should put in place to better master today's challenges in logistics? A. Negotiate rates and schedules more frequently B. Use 3PL providers for core logistics processes C. Connect your extended logistics value chain across partners
B. Use 3PL providers for core logistics processes C. Connect your extended logistics value chain across partners
The triple-A supply chain High speed and low-cost supply chains ... A. always have buffer stocks B. can break down when new products are launched C. reduce stock-outs in the supply chain D. respond well to changes in demand and supply
B. can break down when new products are launched
How Motorola put CPFR into action While CPFR can even work with Excel spreadsheets, using Excel A. takes less time to create and update. B. does not allow 'management by exception'. C. is more complex. D. makes it easy to analyze inventory overstock and understock.
B. does not allow 'management by exception'.
Japanese Automakers, US Suppliers and Supply Chain Superiority Japanese automakers trained old-style mass producers to lean manufacturing by (2 Possible Correct Answer) A. implementing hoshin-kanri (strategic planning and management) B. following the concept to gemba (go and see) C. co-locating production and design D. training production line workers to perform chaku-chaku (load-load) E. staying at supplier facilities until cost, quality and lead time objectives are met
B. following the concept to gemba (go and see) E. staying at supplier facilities until cost, quality and lead time objectives are met
Rapid-fire fulfillment Zara's supply chain emphasizes control by A. having its own yarn manufacturing units B. having in house design of its products C. owning nearly all of its airlines D. owning and running cotton farms
B. having in house design of its products
Operational Excellence Videos An integrated solution for managing Environment, Health and Safety will have a solution identifying, analyzing and monitoring exposure of the workforce to hazards is usually labeled as A. incident management solution B. health and safety management solution C. change management solution D. environment management solution
B. health and safety management solution
The Problem with Legacy EcosystemsThe first generation of IT inventions and investments largely benefited A. agile firms B. large organizations C. vertically integrated firms D. innovative companies
B. large organizations
How Motorola put CPFR into action Motorola launched the CPFR initiative with the objective to .... A. increase direct sales to customers. B. reduce forecast error. C. increase channel inventory. D. improve product variety.
B. reduce forecast error. Also: Improve on-time delivery & reduce channel inventory
How Motorola put CPFR into action Which aspect of CPFR focuses on the shortest time horizon? A. forecasting B. replenishment C. collaboration D. process improvement
B. replenishment
Japanese Automaker, U. S. Suppliers and Supply-Chain Superiority Some of the effective loading methods followed by Japanese automakers include A. using frontloaded truckshaving B. sequenced loads C. combining the role of truck drivers and loaders D. point-to-point delivery
B. sequenced loads
Japanese Automakers, US Suppliers and Supply Chain Superiority Infrequent deliveries from suppliers indicates that (2 Possible Correct Answer) A.suppliers are focusing on reducing on-the-wheel inventory for customers B. customers are receiving and holding large batches of inventory C. there are frequent changes in demand D. suppliers are located at great distances E.quality problems are difficulty to detect in time
B.customers are receiving and holding large batches of inventory E.quality problems are difficulty to detect in time
How Motorola put CPFR into action CPFR requires that organizational and individual roles change. The change in individual roles now required, A. analytic skills B. cost account management C. collaborative customer skills D. logistics planning skills
C. collaborative customer skills
How Motorola put CPFR into action While CPFR can even work with Excel spreadsheets, using Excel A. takes less time to create and update. B. is more complex. C. does not allow 'management by exception'. D. makes it easy to analyze inventory overstock and understock.
C. does not allow 'management by exception'.
Operational Excellence Videos An integrated solution for managing Environment, Health and Safety will have a solution for assessing and reducing the impact a company on the outside world is usually labeled as A. change management solution B. incident management solution C. environment management solution D. health and safety management solution
C. environment management solution
Rapid-fire fulfillment The lesson Senor Ortega learned from his early experience where customers canceled orders was in his own words, "you need to have five fingers touching customers and five touching ____" A. suppliers B. warehouses C. factory D. transportation
C. factory
Operational Excellence Videos Which of the following is an example of a process related to managing the life cycle of asset that can be supported by an asset network A. integrated with production routing B. environmental, health and safety compliance C. issuing, receiving and carrying out service bulletins D. receiving and installing spare parts
C. issuing, receiving and carrying out service bulletins
Successful Build to Order Strategies Start with the Customer Build to Order or BTO strategies promotes firms to explore all aspects of _______. (1 Possible Correct Answer) A. informationsystems B. alignment C. responsiveness D. product demand
C. responsiveness
How Motorola put CPFR into action With the increasing adoption of CPFR, several barriers to the adoption of CPFR became evident. These include A. resistance from retailers and wholesalers. B. lack of versatility. C. substantial investments of set-up time and personnel. D. small installed base of Warehouse Management Systems (WMS).
C. substantial investments of set-up time and personnel.
Operational Excellence Videos As compared to breakdown maintenance, preventive maintenance has a plan for "when" maintenance activities are performed based on A. available to promise (ATP) dates B. when equipment fails C. time-based or counter-based schedule D. multi-resource scheduling
C. time-based or counter-based schedule
Successful Build-to-Order Strategies Start with the Customer Two of the several initiatives to propagate customer-sales data through the supply chain are ... A. The electronic order confirmation (EOC) B. Supply chain operations reference (SCOR) C. model Manufacturing Integration and Intelligence (MII) D. Efficient-customer-response (ECR)
D. Efficient-customer-response (ECR)
Inventory-driven costs The following components of Inventory Driven Costs are considered to be continuous costs as they can be calculated at any given point in time A. Consignment B. Inflation C. Obsolescence D. Price protection
D. Price protection
Inventory-driven costs The following components of Inventory Driven Costs are considered to be continuous costs as they can be calculated at any given point in time A. Consignment B. Inflation C. Obsolescence D. Price protection
D. Price protection Also: Devaluation & Returns
The triple-A supply chain In order to get their supply chains to perform as triple-A supply chains firms need to .... A. increase investments in supply chain B. an efficiency mind-set C. adopt more advanced technology D. develop a new culture
D. develop a new culture
Rapid-fire fulfillment Zara defies conventional wisdom on how supply chains should be run in the garment industry. Some of these are A. produce simple products in house and outsource complex ones B. supplying retail stores on demand C. having exact production capacity D. does not chase economies of scale
D. does not chase economies of scale
The triple-A supply chain Adaptable supply chains require firms to have the ability to ... A. create back-up plans and crisis management teams B. design products collaboratively C. provide all partners with equal access to forecasts, sales data, and plans D. have the capability to change their supply networks
D. have the capability to change their supply networks Also: Be able to spot trends
Inventory-driven costs The most readily identifiable component of inventory-driven costs is the 'holding cost of inventory' which includes: A. obsolescence costs B. component devaluation costs C. price protection costs D. physical costs of holding inventory
D. physical costs of holding inventory
How Motorola put CPFR into action With the increasing adoption of CPFR, several barriers to the adoption of CPFR became evident. These include A. resistance from retailers and wholesalers. B. small installed base of Warehouse Management Systems (WMS). C. lack of versatility. D. substantial investments of set-up time and personnel.
D. substantial investments of set-up time and personnel.
Successful Build to Order Strategies Start with the Customer Rather than improve the supply chain as a whole, firms often end up addressing individual issues that focus on one part of the supply chain, for example by .... (2 Possible Correct Answer) A. perpetuate sales data through the supply chain B. integrating suppliers C. creating inventory buffers to stabilize production D. connect customer requirements directly to production E. reduce deliveries to keep full truck loads
NOT A & B C. creating inventory buffers to stabilize production E. reduce deliveries to keep full truck loads
***Module 8 Operational Excellence How can condition-based maintenance support you in asset management? (2 Possible Correct Answer) a. If a specific condition of an asset is reached, the system initiates the necessary maintenance activities. b. Sophisticated algorithms can predict when an asset will breakdown. c. The condition of an asset can easily be defined and downloaded to the asset. d. Condition-based maintenance activities are automatically initiated based on a specific, predefined time-based interval. e. In condition-based maintenance, the sensor data of assets is collected and consolidated.
NOT A or D.
Inventory-driven costs Although a firm may have no control over component prices and the associated devaluation costs, it can nevertheless how much inventory it is holding by A. consolidating manufacturing B. distributing manufacturing so that production units are close to the market C. increasing the number of nodes in the supply chain D. asking suppliers to maintain inventory until needed
NOT A. consolidating manufacturing Answer from text: -reducing the number of nodes in the supply chain, -consolidating manufacturing facilities, -taking possession of components on a just-in-time basis, -paying the going price at the time, -working with suppliers to minimize inventory when a price drop was anticipated
Operational Excellence Videos An asset network is made up by solutions that bring together A. breakdown, preventive and predictive maintenance B. sensor linked equipment with telemetry C. IoT and real-time diagnostics D. asset operators and other companies that have an interest in managing assets
NOT C. IoT and real-time diagnostics A. breakdown, preventive and predictive maintenance
***Inventory-driven costs Although a firm may have no control over component prices and the associated devaluation costs, it can nevertheless how much inventory it is holding by A. increasing the number of nodes in the supply chain B. distributing manufacturing so that production units are close to the market C. asking suppliers to maintain inventory until needed D. consolidating manufacturing
NOT C. asking suppliers to maintain inventory until needed see other card for answer
**Operational Excellence Videos Big Data and Analytics can be used to A. monitor and predict performance of assets B. establish an Asset Network C. connect assets to business D. create enterprise mobility
NOT b. A. maybe
The triple-A supply chain Adaptable supply chains refer to the ability of supply chains to ... A. continuously provide supply chain partners with data on changes in supply and demand B. recovering quickly from disruptions and shocks to the supply chain C. evolve over time as economic progress reshapes markets D. align incentives for supply chain partners to improve overall performance
NOT b. Correct: C.
Inventory-driven costs In determining Obsolescence costs in addition to writing off 100% of finished goods in its inventories it must also write down the cost of: A. non-product specific components in the pipeline B. related marketing and discounting costs of selling off C. price protection costs D. recycling or scrap recovery
NOT d. B. related marketing and discounting costs of selling off
Product Innovation Videos Product development requires different units of the organization to work together collaboratively on a common solution model. Which of the following units of the organization is likely to suggest options or features of the product? Sales and Marketing Production Engineering Purchasing
Sales and Marketing
The Triple-A Supply Chain In order to improve their supply chain performance, firms also teamed up with their supply chain partners to streamline processes, lay down technical standards, and invest in infrastructure they could share. Which of the following are NOT one of these initiatives (2 Possible Correct Answer) a. Perfect Order Fulfillment Response b. Quick Response c. Efficient Foodservice Response d. Efficient Consumer Response e. Rapid Fire Response
a. Perfect Order Fulfillment Response e. Rapid Fire Response
Rapid Fire Fulfillment Zara can design, produce, and deliver a new garment and put it on display in its stores worldwide in as little as (1 Possible Correct Answer) a. 10 days b. 7 days c. 15 days d. 21 days e. 28 days
c. 15 days
The Triple-A Supply Chain In order to align their supply chains, firms should ... (2 Possible Correct Answer) a. use intermediaries to find reliable vendors b. adopt and adjust with technological changes and advances c. redefine partnership terms to share risks, costs, and rewards d. clarify partners' roles and responsibilities to avoid conflict e. finish products only when they have accurate information on customer preferences
c. redefine partnership terms to share risks, costs, and rewards d. clarify partners' roles and responsibilities to avoid conflict
How Motorola put CPFR into action Which aspect of CPFR focuses on the shortest time horizon? collaboration replenishment forecasting planning process improvement
replenishment
How Smart Connected Products are Transforming Competition The Internet of Things presents new choices for how firms will complete and they have to decide on how to (3 Possible Correct Answer) A. position the company in the industry B. lower product utilization to manage data C. generate capital from markets D. configure their supply chains E. utilize and manage the vast amounts of data
A position the company in the industry D. configure their supply chains E. utilize and manage the vast amounts of data
Introduction to Supply Chain Management Systems (Videos): Which of the following tasks is true about Advanced Planning Systems: A. Advanced planning systems typically use large scale MILPs. B. Companies typically use such systems to perform network design analysis for a 3 -18 month planning horizon. C. Advanced planning systems are typically integrated into a vendor's ERP offerings. D. Companies typically use such systems to perform what-if-analysis for the 3 month of less planning horizon.
A. Advanced planning systems typically use large scale MILPs.
Superefficient Company In the 90's much of the focus of firms was on improving internal processes through reengineering and redesign and as a result (2 Possible Correct Answer) A. They could easily integrate their processes with those of their supply chain partners. B. Functional operations within each function became highly efficient
A. They could easily integrate their processes with those of their supply chain partners. B. Functional operations within each function became highly efficient
Module 5 Efficient Logistics and Order Fulfillment What are the main processes required to manage transportation effectively? (3 Possible Correct Answer) A. Transportation planning and execution B. Leveling Labor Demand C. Management of Hazardous Material D. Freight settlement E. Order management
A. Transportation planning and execution D. Freight settlement E. Order management
Mastering the three worlds of information technology: In the case of Enterprise Information Technologies (EIT) A. changes become necessary as the system goes live B. it is important to test and build virtual processes C. complements can emerge over time D. allows employees to interact with each other E. users can create complements
A. changes become necessary as the system goes live
The Problem with Legacy Ecosystems: As companies make difficult decisions in transforming their business to the new digital world, they may turn partners to competitors or leave them behind, it is still important: A. create commercial opportunities for partners B. create standardized architectures for their products C. to maintain traditional metrics D. digitize internal systems
A. create commercial opportunities for partners
Reverse Supply Chains for Commercial ReturnSignificant issues that must be addressed to achieve responsive decentralized reverse supply chains are (2 Possible Correct Answer) A inducing resellers to do inspection at the point of return B technical feasibility of determining the condition of product return in the field C.transportation cost of centralizing returns D. value of assets recovered E. cost of processing returns
A. inducing resellers to do inspection at the point of return B. technical feasibility of determining the condition of product return in the field
Winning the last mile of e-Commerce The cost of delivery for e-commerce is can be high if (3 Possible Correct Answer) A products are dematerialized B delivery value density is small C orders are distributed over a wide geographical region D full truck load are needed E orders are small
B delivery value density is small C orders are distributed over a wide geographical region E orders are small
Putting it together: How to succeed in distributed product development Value chain integrators are increasingly difficult to recruit and retain as they require an exacting mix of technical and business skills which include A. ability to write complex contracts B. experience in manufacturing, design and other support functions C. dissuasion D. logistics and supply chain management
B. experience in manufacturing, design and other support functions
Mastering the three worlds of information technology: Principal capabilities of network information technologies include A. enhancing experimentation capacity B. facilitating collaboration C. monitoring capability for activities and events in the company D. efficient execution of stand-alone tasks in a group
B. facilitating collaboration
Module 7 Agile Manufacturing The following is a key IoT building block driving automated agile manufacturing. What does it represent? (1 Possible Correct Answer) A. Just-in-time manufacturing B. Connected machines C. Source inspection D. Kanban principles
B. Connected machines
Introduction to Supply Chain Management Systems (Videos): The major software providers can be bucketed into different categories, which of the following is NOT one of them. A. individual suppliers or companies that focus on only certain aspects of SCM. B. Vendors who offer cloud bases solutions and those that offer software that can be run on premise. C. SCM platforms who provide an ecosystem of various SCM modules that integrate easily with each other for a more comprehensive solution for the customer. D. ERP providers who are now also providing SCM functionalities
B. Vendors who offer cloud bases solutions and those that offer software that can be run on premise.
Introduction to Supply Chain Management Systems (Videos): Which of the following statements is true about Warehouse Management Systems is true. A. Warehouse Management System is an internal facing execution system. B. Warehouse Management and Inventory Management systems complement each other. C. Warehouse Management System include functionality for carrier selection and route selection. D. Warehouse Management and Inventory Management systems offer the same functionalities and are different labels for the same kind of system.
B. Warehouse Management and Inventory Management systems complement each other.
The Problem with Legacy Ecosystems Any firm's resource allocation processes, investment strategies and metrics will generally support A. digital transformation B. existing business models C. resource management process D. standardized architectures for their products
B. existing business models
The Problem with Legacy Ecosystems Any firm's resource allocation processes, investment strategies and metrics will generally support: A. digital transformation B. existing business models C. standardized architectures for their products D. resource management process
B. existing business models
Module 7 Agile Manufacturing What are some of the shop-floor systems and automation that connect to manufacturing execution. (2 Possible Correct Answer) A. material resource planning B. programmable logic controllers C. material master D. logistics E. tools and equipment
B. programmable logic controllers E. tools and equipment
Mastering the three worlds of information technology Organizational complements for processing general-purpose technologies that change the way companies do work are A. broader-skilled workers B. redesigned processes C. formalized hierarchical management and decision making D. a functional structure for the organization
B. redesigned processes
The Problem with Legacy Ecosystems First mover advantages to take advantage of digital opportunities exist because data is A. integrated, granular and renewable B. scalable, defensible and reinforceable C. accurate, consistent and reliable D. fast, cheap and abundant
B. scalable, defensible and reinforceable
How smart, connected products are transforming competition Smart connected products can have the potential to alter competition among firms by A. reducing the costs of developing the technology stack B. shifting their cost structure towards higher fixed costs C. allowing them to gain sales with stock-outs D. reducing product launch failures
B. shifting their cost structure towards higher fixed costs
Introduction to Supply Chain Management Systems (Videos) Which of the following is an advantage of using Enterprise Resource Planning systems. A. adoption is costly and time-consuming. B. standardization of processes. C. mitigated consequences of system downtime. D. lead to hiring of personnel with technical knowledge of the systems.
B. standardization of processes.
Introduction to Supply Chain Management Systems (Videos) Transaction Data in an Enterprise Resource Planning (ERP) system represents? A. postings in the general ledger (G/L). B. the consequences of executing business processes. C. records in a database. D. the data needed to execute transactions.
B. the consequences of executing business processes.
Winning the last mile of e-Commerce Companies improve efficiency of shipping products by using the demand information collected by their supply chain to (2 Possible Correct Answer) A. leverage shipments with full truck loads (FTL) B.improve sales order planning C. create sophisticated dashboards and cockpits D. allocate finished good inventory E. schedule production
C. create sophisticated dashboards and cockpits (maybe not C) E. schedule production D. allocate finished good inventory
Reverse Supply Chains for Commercial Return Technology can make preponement of inspection of return products more efficient by (2 Possible Correct Answer). A. tracking products in the reverse supply chains with RFID B. enabling knowledge sharing with supply chain partners C. having technology to meter usage built into the product D. high tech centralized processing facilities with robotics E. building in software the allows more extensive diagnosis of product condition
C. having technology to meter usage built into the product E. building in software the allows more extensive diagnosis of product condition
How smart, connected products are transforming competition Some of the critical parts of the new 'technology stack' firms need to support smart connected products include A. cross-docking integration B. warehouse automation and management systems C. product cloud that includes applications, analytics, and data D. two-factor authentication
C. product cloud that includes applications, analytics, and data
The Superefficient Company Quite often there is disparity in scale between supply chain participants, especially the further in the chain they are (supplier's supplier and so on) like in the case of HP which is large company but some if its supplier's suppliers are smaller and have little influence on their raw material costs for example resin that is used to build monitor cases. For large firms, this often leads to A. diminishing returns on efficiency B. ease of coordination C. purchasing power that dissipates at each step in the supply chain D. improved visibility
C. purchasing power that dissipates at each step in the supply chain
Mastering the three worlds of information technology Capabilities of Enterprise Information Technologies (EIT) include: A. maintaining business processes B. fostering innovation C. standardized workflows D. allows experimentation
C. standardized workflows; also Redesigning business processes & monitoring events effectively
Winning the last mile of e-Commerce A resource exchange strategy requires (3 Possible Correct Answer) A. stable demands that do not distort demand value density B- bulky products of low value C- that products are standardized D. an integrative information system E- ratio of transportation cost to product value be high
C. that products are standardized D. an integrated information system E. ratio of transportation cost to product value be high
The Problem with Legacy Ecosystems: In situations where a new venture is introducing a radical innovation they may often have to adopt a strategy of A. building an independent network of partners B. diversification C. vertical integration D. subsystem level innovation
C. vertical integration
How Smart Connected Products are Transforming Competition Which of the following represents firms making a consistent strategic choice (2 Possible Correct Answer) A. Products that are fully automated should have more functionality embedded in the product cloud B. A firm looking to expand its scope needs to outsource the technology stack C. Provide uniform product functionality across market segments D. A firm that focuses on a single part of a product system needs to focus on becoming best-of-breed E. A firm pursuing a leadership in the product system should enter related product categories
D. A firm that focuses on a single part of a product system needs to focus on becoming best-of-breed E. A firm pursuing a leadership in the product system should enter related product categories
Mastering the three worlds of information technology According to a survey of American executives responsible for IT, which of the following was considered as a major issue by nearly 90% of the respondents: A. Identifying which new technologies to adopt B. Aligning business and IT strategy C. Large scale IT-efforts tend to fail D. Getting high returns from investments in Information Technology
D. Getting high returns from investments in Information Technology
Introduction to Supply Chain Management Systems (Videos): Which of the following is a benefit of having an Enterprise Resource Planning (ERP) system? A. It provides visibility across the firm's supply chain. B. ERP systems are easy to implement. C. Improves the firm's relationship with customers. D. It allows all transactional data in a single data repository.
D. It allows all transactional data in a single data repository.
Which of the following statement about Supply Chain Management Systems is true? A. Electronic Data Exchange (EDI) is the current standard for B2B transactions. B. MRP-II came out in the 1960s. C. Y2K bug issues drove the adoption of ERP systems in only multinational corporations. D. Supply Chain Modules predate Enterprise Resource Planning (ERP) systems.
D. Supply Chain Modules predate Enterprise Resource Planning (ERP) systems.
The Problem with Legacy Ecosystems Being able to connect in a personal manner with customer creates opportunities for companies to A. supply them with new products and services, increase churn and validate data B. capture new revenue streams, defend intellectual property and scale rapidly C. build extremely defensible network effects, create data and services and capture value chains D. capture data about the market, supply new products and services, and build extremely defensible network effects
D. capture data about the market, supply new products and services, and build extremely defensible network effects
Agile Manufacturing Videos What is a key capability manufacturers need in order to launch their Industry 4.0 initiatives? A. electronic data interchange B. reverse logistics C. reduce need for paper and clipboards on the shop floor D. digitization
D. digitization
Mastering the three worlds of information technology Principal capabilities of network information technologies include A. monitoring capability for activities and events in the company B. enhancing experimentation capacity C. efficient execution of stand-alone tasks in a group D. fostering emergence
D. fostering emergence
Mastering the three worlds of information technology: Principal capabilities of network information technologies include A. monitoring capability for activities and events in the company B. efficient execution of stand-alone tasks in a group C. enhancing experimentation capacity D. fostering emergence
D. fostering emergence
Putting it together: How to succeed in distributed product development When dealing with specifications, especially across cultures, it is very important to ensure a mutual understanding of A. the relationship B. governance C. how not to do the work D. interpretation
D. interpretation also Intent
The Problem with Legacy Ecosystems The case of Nest, when it chose to market directly to consumers demonstrated that: A. consumer behavior is hard to change B. rapid response is integral to digital value chains C. product sales and installation should emulate traditional methods D. software development is only part of the process
D. software development is only part of the process
Putting it Together: How to Succeed in Distributed Product Development Activities as compared to processes are a set of related tasks that ...(2 Possible Correct Answer) A. harder to anticipate B. are usually performed by multiple entities C. depend on the context D. tend to be constant across development programs E result in a specific deliverable
D. tend to be constant across development programs E result in a specific deliverable
Putting it Together: How to Succeed in Distributed Product Development Spanning boundaries requires appropriate mechanisms for aligning incentives. Good principles to adopt for better organizational alignment are.....(2 Possible Correct Answer) A. appropriate interaction routines B. strive for complete contracts C. focus on measuring the measurable D. provide non-financial incentives E. fair compensation
E and D
Product Innovation Videos Product development requires different units of the organization to work together collaboratively on a common solution model. Which of the following units of the organization is likely to design and develop the product Production Sales and Marketing Purchasing Engineering
Engineering
Efficient Logistics and Order Fulfillment Videos Cost pressures created by logistics costs, which can on an average be around 10% of revenue depending on the industry, require that logistics need to be more A. responsive B. marginal C. boundary spanning D. efficient
NOT boundary spanning Correct: D. efficient
Efficient Logistics and Order Fulfillment Videos Which of the following is one of the measures you should put in place to better master today's challenges in logistics? Negotiate rates and schedules more frequently Use 3PL providers for core logistics processes Leverage Internet of Things technologies for logistics Segment and partition channels
Leverage Internet of Things technologies for logistics
Product Innovation Videos Which of the following is one of benefits provided by a product innovation platform? A. A highly structured data platform that enforces a philosophy of "zero design change" B. A framework to maintain a sequential, step-wise approach to managing a product's lifecycle C. A well-designed platform for financials and accounting of Product Lifecycle independent of enterprise financials and accounting D. A data and technology platform that enables different parts of the business to surface and access the information necessary for any given function
NOT B, C. or D Answer: A. A highly structured data platform that enforces a philosophy of "zero design change" Also correct: A collaborative network to connect different lines of business
How smart, connected products are transforming competition Smart connected products allow firms in any given industry to A. mitigate the impact of network effects B. consolidate traditional business models C. statistically secure data D. increase switching costs for customers
NOT B. consolidate traditional business models Correct: D.
***Module 6: Product Innovation Each of the following are examples of success strategies for companies to follow in the sustainable product innovation space EXCEPT: (2 Possible Correct Answer) A. Maintenance of data and work silos to enable continued specialization B. Product configuration to enable individualization C. Synchronization of multiple creative authoring tools to create smarter products D. Enforcement of a single design environment to ensure consistency E. Orchestration of all necessary resources (such as financial, human, technological) to speed time-to-market
NOT a. & c. A. and C. / sound correct reading the slides
Introduction to Supply Chain Management Systems (Videos): Which of the following statements about Enterprise Resource Planning Systems is NOT true. A. They help a company run itself. B. They are focused on inter-firm processes. C. They are the common transactional database. D. They are the general ledgers of a company.
NOT a., b. C and D all sound correct also... Maybe d as it says ...of a company
Mastering the three worlds of information technology: A general-purpose technology (GPT) such as information technology, are important in that they disrupt normal economic progress with large improvements in productivity because A. they can overcome the 'trough of disillusionment' rapidly B. they always come with complements that lead to widespread adoption C. performance of such technologies dramatically improves with time D. they become factors of production
NOT b. Correct: C. performance of such technologies dramatically improves with time
Product Innovation Videos In process industries, it is useful for the product innovation platform to have tools that help testing and evaluation of product concepts before even going to the lab with connecting to manufacturing workflows specification management product formulation
NOT connecting to manufacturing Product formulation
Introduction to Supply Chain Management Systems (Videos): If a company uses an Enterprise Resource Planning from one of the leading providers it will likely have A. a library of potential best practices. B. built-in solutions for supply chain planning. C. master data populated in the system. D. a set of best-of-breed business processes.
NOT d. probably not C. Probably B.
Putting it together: How to succeed in distributed product development The reasons for offshoring product development include increasing quality of manpower and capacity reducing 'linkage' costs satisfy local content requirements for access minimizing employee turnover
NOT increasing quality of manpower and capacity (im 99% sure this is also correct) Correct: satisfying content requirements for access
Putting it together: How to succeed in distributed product development Boundaries are places where different organizations or organizational units that must work together are particularly challenging when A. products have a modular design B. the firms are vertically integrated C. entities are at multiple locations D. design, manufacture, and test
NOT the firms are vertically integrated C. entities are at multiple locations
The Superefficient Company In the '90s much of the focus of firms was on improving internal processes through reengineering and redesign and as a result A. functional operations within each function became highly efficient B. efficiency ended at the edge of firm boundary C. they could demonstrate to their supply chain partners the benefits of improving internal firm processes. D. they could easily integrate their processes with those of their supply chain partners.
NOT they could easily integrate their processes with those of their supply chain partners. Correct: B & A
Efficient Logistics and Order Fulfillment Videos Which of the following is NOT a process likely to be supported by a Transportation Management Solution? Transportation execution Order management Picking and packing Freight settlement
Picking and packing
Product Innovation Videos Which of the following is a desirable major integration capability for a Portfolio and Project Management solution platform? Sales order management Material Resource Planning Resource availability Asset and service management
Resource availability
Efficient Logistics and Order Fulfillment Videos Which of the following is one of the processes required to manage transportation effectively? Demand mitigation Inventory allocation Carrier optimization Transportation Execution
Transportation Execution
Putting it together: How to succeed in distributed product development Value chain integrators are increasingly difficult to recruit and retain as they require an exacting mix of technical and business skills which include dissuasion logistics and supply chain management ability to write complex contracts ability to clarify ambiguous specifications
ability to clarify ambiguous specifications
How smart, connected products are transforming competition The focus of the first wave of Information Technology (IT) in business was on connectivity transformation networks automation reengineering
automation
Reverse Supply Chains for Commercial Return One simple way that manufacturers can facilitate preponement for responsive reverse supply chain is. (1 Possible Correct Answer) a. centralizing inspection and disposition b. having responsive reverse logistics c. reducing the marginal value of time for their products d. metering usage
c. reducing the marginal value of time for their products
The Superefficient Company The team that undertakes redesign of cross-company processes should have members that specialize in change management contracts and negotiation supply chain management inventory management
change management
The Superefficient Company One of the benefits of allowing customers to enter and check the status of their orders is that it can reduce defects in products lead time channel inventory errors in accounting
channel inventory
Just like Fisher proposed efficient supply chains for low demand uncertainty and responsive supply chains for high demand uncertainty, the authors of the article on reverse supply chains argue that efficient and responsive reverse supply chains should be based on... supply uncertainty demand uncertainty clockspeed component devaluation
clockspeed Also: marginal value of time
Winning the last mile of e-Commerce A strategy that combines using information and capitalizing on current physical channels is (1 Possible Correct Answer) a. postponing logistics (wrong) b. multi-mode shipment c. dematerialization d. virtual pooling of inventory
d. virtual pooling of inventory
How smart, connected products are transforming competition The third wave of Information Technology (IT) has created the need for firms to engage in new activities such as information sharing innovation reshape their value chains data analytics
data analytics
Putting it together: How to succeed in distributed product development Spanning boundaries requires appropriate mechanisms for aligning incentives. Good principles to adopt for better organizational alignment are A. fair compensation B. focus on measuring the measurable C. appropriate interaction routines D. strive for complete contracts
fair compensation
Product Innovation Videos A product innovation platform (or system) will support a product innovation process that is sequential is configurable is more collaborative supports multiple solution models
is more collaborative
Efficient Logistics and Order Fulfillment Videos Improvements in logistics practices and technological advancements have resulted in improved logistics performance created new markets not prevented the decline in logistics performance improved margins
not prevented the decline in logistics performance
Significant issues that must be addressed to achieve responsive decentralized reverse supply chains are technical feasibility of determining the condition of product return in the field cost of processing returns value of assets recovered transportation cost of centralizing returns
technical feasibility of determining the condition of product return in the field
