MARK. 5320 Quiz #6- Supply Chain Management

Which of the following is true of supply chains?

Information flows both upstream and downstream in a supply chain.

Which of the following is an advantage of a pull strategy?

It reduces inventory carrying costs and allows customization of products.

Dave is a regular shopper at Colric Inc., an online company, which sells T-shirts. He placed an order for five T-shirts. However, when the order arrived, Dave realized that the T-shirts were defective. He returned the order and requested Colric for a replacement. This scenario exemplifies an exception to one of the aspects of supply chains. Identify this aspect.

Products and services generally move downstream from a supplier to a customer.

A supply chain strategy in which a company builds goods based on a sales forecast, puts those goods into storage, and waits for a customer to order the product is called a

Push strategy

When the distribution center mixes goods coming from multiple suppliers into outgoing orders so that each order includes a variety of goods rather than just one type of good, this is referred to as product

assortment

All along the supply chain, distribution channels add value to the product by

changing the product's form and location

Those activities that focus on delivering the right product, to the right place, to the right customer, at the right time, in the right quantity, in the right condition, and at the right price is referred to as

logistics

Based on the discussions of the future of supply chain management, which factor could challenge and change the supply chain in the future?

new technology

What is the underlying philosophy behind the concept of supply chain management?

no company operates in isolation

A firm that sells mainly to end-user consumers is referred to as a

retailer