MKTG 300 chapeter 13 Quiz

Entity A supplies planned timber, paint, varnish, springs, upholstery, and cushioining to Entity B, which produces a ready to use furniture. Entity C is the marketing department of Entity B. In this context,

A is an upstream supply chain member, while C is the downstream chain member

_______ is a buisness structure of interpendent organizations that reaches from the point of production to the consumer and facilitates the downstream physical movement of goods through the supply chain.

A marketing channel

Lina orders a spare part for her custom-built bike from Lumberne Technologies Inc. The company makes use of three-dimensional printing to produce the spare part in one of the nearby branches of the firm. In this case, which of the following technologies is used to produce the spare part?​

Additive manufacturing

Which of the following statements is true of supply chain management in today's marketplace?

Buisnesses focus on partnering with members of the supply chain to enhance customer value

Which of the following is an advantage for companies that globalize their supply chains?

It allows companies to take advantage of cheaper labor and not have to contend with trade barriers and tariffs encountered and thus increases the demand for imported products worldwide

Which of the following is a major advantage offshoring?

It decreases labor costs incurred by a company

Which of the following is an advantage of outsourcing logistics functions?

It enables firms to locate stock at fewer plants and dsitribution centers

Which statement is true of supply chain management?

It enables supply chain managers to respond quickly to sudden changes in supply or demand

Which of the following statements is true of the demand management process?

It invovles creating customer-focused plans of action prior to actual purchases being made

Which pf the following statements is true of customer integration for companies oriented toward demand-supply integration?

It is a competency that enables firms to offer value-added offerings to those customers who represent the greatest value to the firm or supply chain

Which of the following is true of a retailer channel?

It is most common when the retailer is large and can buy in large quantities directly from the manufacturer

Which of the following best defines the order to-cash cycle?

It is the amount of time between order placement and receipt of the customer's payment following order shipment

Which of the following is an advantage of supply chain globalization?

It lowers labor rates and material costs

Which of the following statements is true of three-dimensional printing?

It will nearly eliminate the need to transport finished goods to distribution ceneters and retailers.

Laelle Inc. is a company that sells apparel for women. It recently shut down its physical store and is operating as a completely app-based store now. The app allows users to access the store's products anytime and anywhere using their cell phones, and it also has features that allow users to compare the prices of products across different online stores. This scenario exemplifies:​

M-commerce

Which of the following is true of retailers?

They provide contact efficiency for consumers

West Coast Traders provides expertise for a range of products within a category. It markets and faciltates the sale of many different manufactuerers' products to a grocery chain. However, West Coast Traders never takes ownership of any food products, so it would be considered a(n)

agent or a broker

Which of the following describes either lean or agile supply chains?

agile supply chains wait for demand to occur and use communication and flexibility to fill that demand quickly

Which of the following is a similarity between merchant wholesalers and retailers?

both take title to products in the marketing channel

Sales and operations planning is a procedure

companies use to combine production and demand by merging diplomatic and strategic planning methods across functional areas of the buisness

Unlike multichannel marketing, omnichannel marketing:

creates greater customer control over the shopping experience

An objective of flexible manufacturing includes

creating flexible agreements with suppliers and shippers so that unexpected demand bursts can be accommodated, without disruptions to customer service or satisfaction

Which of the following is true of multichannel marketing?

customers are offered information, goods. services, and/or support through one or more synchronized channels

Which of the following represents programs that use convenience to get consumers to recycle products like batteries or cell phones during a regular trip to the store?

drop and shop

Acme Foundation provides information about channel members and consumers by getting answers to key questions such as: Who are the buyers? Where are they located? Why do they buy? Acme also ensures that channel members have the money to keep products moving through the channel to the ultimate consumer. The function of Acme described here is

facilitating

The composition and appearance of a product that make it desirable constitute its ______ utility.

form

Every year, a manufacturer in Milwaukee, WI, makes raincoats and employs its own fleet of vans to make the product available in stores across coastal Oregon and Washington State just when the rainy season begins in those parts of the United States. The manufacturer is creating

form, time, and place utility

Channel members are also known as

intermediaries

Mezzah Bros., a video store that sells DVDs and entertainment publications, stores its products in separate warehouses. Moreover, it uses different modes of transportation to deliver them to customers. This scenario illustrates the _____ of Mezzah Bros.​

logistical

Companies that focus on supply chain management commonly report

lower warehousing costs

IndigoBlue Inc., a distributor of audio equipment, component parts, and supplies, takes title to all its products. It operates a few warehouses where it stores the finished goods and reships them to its clients, resellers, and other vendors. IndigoBlue Inc. is an example of a

merchant wholesaler

Which of the following best describes the functioning of the various companies/business units that are part of a world-class, well integrated supply chain?

multiple entities should work together to perform tasks as a single unified system

Three-dimensional printing is expected to dramatically reduce businesses' carbon footprints because the technology

nearly eliminates transportation of finished goods to distribution centers and retailers

General Motors recently built a plant in Toluca, Mexico, leadin to a 4o percent savings on production costs when transportation and labor costs were considered together. This is an instance of

nearshoring

Supply chain analytics programs have many objectives that, if realized, would

offer lower prices for customers and lead to greater customer satisfaction

Buying and managing transportation, warehousing , and/or light postponed manufacturing are logistical functions that typically lend themselves to

outsourcing and contract logistics

Which of the following describes sales and operations planning (S&OP) meetings?

procument, production, and logistics work together with marketing and sales

Maginira Inc., an equipment manufacturing company, designs precision cutting tools that can be used for various appliactaions. A recent project required Magnira to work closely with a surgical tools manufacturing company to produce a medical stapler that helps reduce tramatic procedures and promotes quicker patient recoveries. This is an example of the

product development and commercialization process

When considering the types of deman-supply integration, _____ includes the ways in which two or more companies will collaborate on activities or projects so that the customer gains the maximum amount of total possible from the supply chain

realtionship integration

The best order fulfillment processes reduce order cycle tim e as much as possible. The shorter leadtimes are beneficial in that they allow firms to carry

reduced inventory levels and free up cash that can be used on other projects

Phoenix Farm, a firm that sells farm products, gathers all fresh food ingredients at one place for its customers. The customers can buy eggs, milk, meat, vegetables, and so on without spending a great amount of time and energy. Phoenix Farm is a _____.​

retailer

Four consumers each want to buy a refrigerator. Without a retail intermediary like Best Buy, fridge manufactueres Walton, Sub-Zero, Bosch, Kenmore, and General Electric would each have to make four contacts to reach the four consumers who are in the target market, for a total of twenty transactions. But when Best Buy acts as an intermediary between the producer and consumers, each producer needs to make only one contact, reducing the number to nine transactions. This is an example of a

retailer offering contact efficiency

A ______ enables consumers to return products to the retailer or manufacturer in the event of a product defect or at the end of the product's useful lifw to the consumer.

reverse channel

In the context of demand management, merging tactical and stragetic planning methods across functional areas of the business to align production with demand is known as ______ planning

sales and operations

Which of the following is true of three-dimensional printing?

small manufacturers will produce products over very short lead times

Two companies enter an agreement such that Company A can now use Company B's already established marketing channels. Company A made this decision because it was too expensive and time consuming to create a new marketing channel. This is an example of

strategic channel alliance

In the United Kingdom, Tesco Grocery stores plan afternoon shipments from distribution centers to stores only sfter reading morning sales data. This way, they can replenish inventory sold only hours before. Tesco is an example of supply chain that is

strictly agile

Grand Trunk Inc., a furniture manufacturing company, does not manufacture furniture until an order is received. It coordinates and integrates the activities of its suppliers, designers and carpenters to ensure an efficient production cycle. This enables Grand Trunk Inc. to deliver the products to customers within five working days. This is an example of _____ management.

supply chain

Castle Brew Inc., a leading multinational beverage manufacturing company, coordinates with Waste Yard Inc., a waste management company, to devise a strategy that would help in recycling and reusing beverage bottles. Castle Brew Inc. plans to install hundreds of machines that would recycle empty bottles in many locations and provide rewards to those consumers who participate in the initiative as it believes that this initiative would help protect the environment. In this scenario, Castle Brew Inc. is practicing _____.​

sustainable supply chain management

Nessca Solutions Inc. has recently created a hardware and software system for transmitting data among different departments within Nessca Solutions Inc. The system provides an easy and quick way of exchanging information. This has increased the firm's efficiency while reducing costs. This is an example of _____.​

technology and planning

How do you separate intermediaries from buyers and sellers for the ownership of merchandise in terms of taking title?

the intermediary owns the merchandise and controls the terms of the sale

Connections between cargo vessels or trucks and transportation networks may eventually lead to the development of smart transportation modes that reroute in real time based on local traffic patterns, weather events, and ccidents. Which of the following will someday enable such a possibility?

the internet of things

When you purchase a loaf of bread, which of the following is creating exchange utility?

the supermarket

Which of the following statements is true of public-private partnerships?

they are critical to the satisfaction of both company and societal interests

Which of the following statements is true of supply chain-oriented firms?

they are financially better off in the long run than companies that are not

Which of the following statements is true of agile companies?

they partner closely with suppliers and service providers to reduce customer wait times for products

Which of the following statements is true of channel members?

they provide contact effciency

Which statement is true of agents and brokers?

they represent manufacturers' products to potential customers

Because wholesalers neither dramically alter the product they handle nor sell it directly to the consumer, their value hinges on their providing retailers

time and place utility and contact efficiency

Which of the following is NOT a function of the retailer?

transactiing sales without taking title to products it sells