MGMT 461 Exam 1
Which issue in choosing supply chain strategy is about deciding how to bring products to market?
Channel selection
What is the cornerstone of successful supply chain management?
Communication
When an organization is able to operate in an environment of certainty, it enables ______ in service and quality.
Consistency
Identify a trend that is expected to impact organizations operating globally.
more international responsibility for supply chain executives
Because customer service involves all members of the supply chain, it is considered to be ______.
multidimensional
ERP solutions integrated business application modules, such as manufacturing, sales, finance, and human resource management, through the use of ______.
one central database
The dark bars and spaces in bar codes represent ______
ones and zeros
The ability of a firm to trace products which are delivered to customers is a ______ element of customer service.
post-transaction
A successful supply chain metrics program needs to be ______ focused rather than ______ focused.
process; functionally
Using information to make decisions related to future operations in the supply chain is called ______
supply chain planning
Using information to make decisions related to future operations in the supply chain is called ______.
supply chain planning
An XML message contains not only the data being transmitted but also ______ located before and after the information, such as <quantity>53</quantity>.
tags
The three elements of customer satisfaction, integrated effort, and long-term profitability are components of ______.
the marketing concept
One outcome from logistics activities is _____.
time and place utility
What is the purpose of the Container Security Initiative (CSI)?
to combat terrorism's potential impact on cargo arriving in the U.S.
What should be the purpose of metrics applied to a supply chain?
to measure how effectively the supply chain is meeting end-user requirements
EDI typically transmits ______-related documents.
transaction
The aspect of customer service concerned with ensuring information about the customer's order is available is a ______ element
transaction
The aspect of customer service concerned with identifying appropriate levels of inventory to optimize product availability is a ______ element.
transaction
Supply chain planning tools include which of the following?
warehouse management systems yard management systems Inventory Management Transportation Management systems
Knowing the level of service promised to customers helps a manager to determine ______ in managing daily operations.
what inventory level is appropriate
Sharing supply chain information to manage daily operations is necessary ______.
within and between firms in the supply chain
The approach to managing customer relationships and serving customers using information technology is ______.
Customer Relationship Management (CRM)
Supply chain management attempts to minimize costs and optimize ______.
Customer Satisfaction
What is the binding and unifying force for all supply chain management activities?
Customer Service
Both supply chain and marketing efforts have to be successful for ______ to occur.
Customer satisfaction
Delivering assistance to a customer before, during and after the customer's requirements are met is ______.
Customer service
A voluntary program in which participating companies enhance their security procedures and create awareness among their supply chain partners is the ________.
Customs-Trade Partnership Against Terrorism (CTPAT)
True or false: Customers should receive a copy of an organization's written service statement
True
True or false: Demand forecast accuracy is considered a "deal breaker" KPI by Gartner, Inc.
True
True or false: Total Quality Management in the 1980s, and Continuous Replenishment in the 1990s, were initial attempts at developing integrated supply chains
True
True or false: XML is more flexible than EDI.
True
When firms need to exchange messages in multiple standards, they often use the ______ to translate messages.
VAN
Which data transmission method is more flexible because it does have to conform to a rigid standard?
XML
In order to provide the vital link between members of the supply chain, a communication system needs to be ______.
accurate and timely
Reverse logistics is an integral part of service ______
after the sale
Supply chain executives view customer satisfaction as ______.
an activity or process to be managed
Select all that apply: The advantage of RFID technology over bar codes is that RFID chips ______
are more efficient uniquely identify each product
The series of dark bars and spaces that make up machine readable alpha-numeric code is called a(n) ______.
bar code
Repeated incidents of product stock-outs is evidence that members of a supply chain are not ______.
collaborating with one another
Certainty in knowing that products will be produced and delivered on time allow supply chains to provide ______ service levels to customers.
consistent
The fulfillment that customers derive from doing business with a firm is ______.
customer satisfaction
A process or activity is considered relevant to supply chain management if it affects which two areas?
customer satisfaction and the profits of multiple organizations in the supply chain
The process by which data enters an information system is ______
data capture
When a supply chain responds to flu pandemics and hurricanes by getting medical and food supplies to areas where the need is greatest, this is called ______.
disaster relief
Net worth, a component of financial leverage, is a measure of how an organization employs ______.
external financing
In RFID technology, product data are stored ______.
in a chip
One input into logistics activities is _____
in-process inventory
An increase in energy costs is most likely to lead to which of the following results in a supply chain?
increased domestic sourcing
Identify a trend that is expected to impact organizations operating globally.
increasing vertical integration of the supply chain
Customer relationship management (CRM) is an approach to managing customer relationships and serving customers using ______.
information systems technology
Technological developments such as artificial intelligence (AI), bar code scanning, and radio frequency identification (RFID) support what aspect of supply chain management?
logistics
Supply chain managers use vehicle routing software to know where trucks are at all times, which is an example of how to ______.
maintain asset visibility
Supply chain managers use wireless technology to track drivers for safety and security, which is an example of how to ______.
maintain asset visibility
Clearly defined means of communicating between various software programs are provided by ______.
APIs
What are the issues in developing supply chain strategy? Select all that apply.
Appropriate level of outsourcing Network design decisions Which channels to use
According to the DuPont strategic profit model, management controls three factors that influence return on net worth: net profit, ______, and financial leverage.
Asset turnover
An approach used by many companies to integrate performance measures and the firm's overall strategy is the ______.
Balanced Scorecard
One framework which allows firms to include both financial and nonfinancial issues in considering overall firm performance is the ______.
Balanced Scorecard
Providing employees with a written customer service statement is a an element of customer service which should occur ______.
Before the transaction
Supply chain management includes the ______ of all activities involved in sourcing, procurement, conversion, and logistics for goods and services.
Planning and management
A research study found that firms had experienced significant supply chain disruptions experienced an overall ______ in share prices.
Decrease
Improvements in a nation's productivity will lead to _____ in the prices that consumers, businesses and governments pay for goods and services.
Decreases
EXtensible Markup Language is an alternative to ______ in exchanging data among firms in a supply chain.
Electronic Data Interchange
Which data transmission format requires a standardized, predetermined format for each document to exchange computer-to-computer messages?
Electronic Data Interchange
Supply chain management focuses on coordination and collaboration of channel partners only in the manufacturing sector.
False
True or false: The most widely known model of the supply chain process is the Forum Model.
False--SCOR Model is most widely known
The concept of the perfect order is based on fulfilling the ______ of customers.
Five rights
An efficient and effective supply chain can optimize ______.
Fulfillment in an omnichannel environment
A significant constraint in implementing supply chain management can come from poorly maintained ______.
Infrastructure
Which element of the marketing concept is concerned with coordinating activities or processes within and across the supply chain?
Integrated effort
Organizations capture thousands of pieces of information. Which items are essential to most effectively and efficiently managing the company-customer interface?
KPIs
How does logistics affect a nation's GDP?
Logistics impacts economic factors that are part of GDP.
Which statement is correct about logistics and supply chain management?
Logistics is part of supply chain management.
When an organization delivers a lower level of service or satisfaction to the customer than is required, it results in a ______ service gap.
Negative
Financial leverage is an organization's total assets divided by its ______.
Net worth
A shipment which is on time, in the right quantity, in the right condition, and with the right documentation is the definition of a(n) ______.
Perfect order
According to Gartner's top 17 key performance indicators, ______ is one of the top three.
Perfect order fulfillment
Organizations which adopt the SCOR model of supply chain management will align financial strategies and customer service and satisfaction strategies in which component of the model?
Plan
Warranty programs are a ______ element of customer service.
Post-transaction
A firm is likely to lose customers due to _______.
Repeated stockouts
The supply chain activities involved in product returns, remanufacturing, refurbishing and repackaging are part of ______.
Reverse logistics
Which elements are part of infrastructure? Select all that apply.
Roadways, rail systems, airports and ocean ports, bridges, and waterways
Which technological developments have provided support for logistics? Select all that apply.
Robotics, blockchain, Internet of Things (IoT)
Which component of the SCOR model which emphasizes selecting suppliers capable of providing consistently high levels of customer service?
Source
Initial work on integrating supply chains in the 1980s and 1990s developed ______ between manufacturers, suppliers, wholesalers, retailers, and service providers.
Strategic partnerships
Customer relationship management, information technology, and procurement are important components of ______.
Supply Chain Management (SCM)
Outsourcing from "invisible" suppliers worldwide and product recalls cause an increased risk of _______.
Supply chain disruptions
The SCOR and Forum models are considered user-friendly models of the ______.
Supply chain process
Which statement about disaster preparedness and supply chains is correct?
Supply chains must be prepared for disaster relief and normal operations.
How do VANs help to address the complexity of firms exchanging messages in multiple standards?
They offer a translation service
There is general agreement on several goals in supply chains. What is one of those goals
To achieve competitive advantages
Why is it important for companies and supply chains to have defined metrics?
To determine if goals and objectives are met
There is general agreement on several goals in supply chains. What is one of those goals
To provide high levels of customer value
Companies have historically traded off lower inventory levels by spending more for ______, which are dependent on energy costs.
Transportation
The main forms of automated data capture are ______ and ______.
radio frequency identification bar codes
A service gap in services marketing refers to the level of service or satisfaction achieved compared to the level of service or satisfaction ______.
required by customers
The objective of supply chain planning is to meet ______ with the lowest use of resources.
service and quality requirements
Logistics attempts to optimize customer ______, while supply chain management optimizes customer ______.
service; satisfaction
