Supply Chain midterm '19

According to the article what are two (among many) factors which influence how a company will set up its supply chain

Escalating globalization and changing customer expectations

A strategic partnership with a supplier:

Is a commitment over an extended period to work together to the benefit of both parties

Strategic sourcing is a comprehensive approach for locating and sourcing key suppliers which often includes the business process of analyzing the total-spend by material category

True

Supply chain management starts with understanding the flow

True

The make to order or build to order strategy takes longer for customers to be filled with then the make to stock or build to stock strategy

True

When completing a math problem in excel, you must use an _____ sign in order for Excel to complete the operation

=

Which of the following is the best description of a preferred supplier

A supplier who best meets your company's overall purchasing requirements

What are two advantages to the single source supplier strategy

Better prices and easier to manage supplier relationships

Which of the following is not a common mode of transportation for materials or products in the supply chain

Bus

What is the purpose of a two-way performance scorecard

Collaboratively identify areas for improvement

List three ways that you have had to use teamwork in supply chain

Communication, greater good, doing my part

Which of the following is not included in operations management

Creating a business strategy

Which of the following describes "fluctuating demand"

Customers desire for the product varies over time

What are two US government agencies that will likely determine whether the fresh produce in this reading can be purchased by a consumer

Department of agriculture and customs and border

Which of the following is a correct very simple description of this supply chain flow

Describing the steps to get fresh produce from South America to US consumers

If your company is currently functioning in a high-risk environment which would be better:

Distributing your sourcing decisions among several suppliers

Which of the following have affected the development of supply chain management

Innovation, technology, and the Internet

Which of the following manufacturing strategies has the potential for the excess inventory, and can also cause companies to struggle to make the correct product at the correct time in the correct quantities

Make to Stock

What is the main responsibility of operations management

Manage the business function for the process of creating goods and services of a particular company

What term is used to describe when a product can be taken off the boat and brought to shore

Offloaded

List one of the many career options we have discussed that are in Supply Chain

Operations Manager

How else can you express the idea "concept to customer"

Original idea to product in customer's hand

Buying materials and components from suppliers instead of making them in house is known as

Outsourcing

What is the difference between qualitative and quantitative measures

Qualitative relates to perceptions opinions and non numerical evaluations while quantitative relates to numbers and data

How often should a company evaluate its suppliers

Regularly

What does transparency mean in this paragraph

Relatively easy access to a company's policies and procedures

What may determine how a company chooses an operations management strategy

The nature of the products or services the company provides

The objective of mass customization is to increase variety for customers while also realizing the cost advantages of high volume continuous in line flow processes

True

The purchasing tool described as "a detailed capabilities document used to determine a suppliers capability and interest in the product of a product or service" is called a request for proposal (rfp)

True

What is the synonym for "span" in the third paragraph?

Extend over

In the supply chain flow described here one company maintains control of the product from end to end

False

When completing a math problem in excel you put the order of operations within the _______ above the cells

Formula bar

What is another word for cold storage

Refrigeration

Is supply chain management a well-established field or one that is still developing

It is developing and responding to many different changes

list three ways a supply chain company could use a forecast when planning

Keeping updated with trends, customer interest/input, what/when is high in demand

In the context of this paragraph, what does the word "execution" mean

Put into practice

Based on the diagram which of the following correctly identifies the manufacturers tier 1 supply chain partners

Supplier c and customer c

Write a sentence correctly using the term lead time

The lead time for tennis shoes is 30 days

What are the two main goals of operations management

To convert materials and labor into goods and services and maximize profits for the company

Why is it necessary to have so many inspections

To make sure quality is maintained

Which of the following is not a reason to have a single supplier

To spread the risk of a supply disruption

Among other advantages, preferred suppliers are more likely to provide capacity for meeting unexpected demand and also provide cost efficiency due to economies of scale

True

One disadvantage of a make to order or build to order strategy is that companies do not have a ready supply of inventory to sell

True

The SCOR model includes all of the following except

Work

Out of the following options which one would be considered a weakness (something a company can control)

Your logistics process creates delayed shipping for your customers