BIT 3414 Quiz 1 Textbook QUESTIONS
WELL ANSWERED GRADED A+
2025/2026
The worlds largest electronics manufacturer and China's largest exporter is - CORRECT ANSWER
✔✔Foxconn
How is today's supply chain management in a "global marketplace" different from the
traditional approach to supply chain management? - CORRECT ANSWER ✔✔Today, each
segment works together, whereas in the past, it was broken up into segments that had nothing
to do with each other. There is more communication
Inventory is considered insurance against __________. The cost to carry a retail item in
inventory for one year is estimated to be between _________% and ____________ % of what
the item costs - CORRECT ANSWER ✔✔supply chain uncertainty; 18l% and 35%
What is the bullwhip effect? What is the typical result when supply chain members don't have
confidence in demand information? What can be done to reduce the Bullwhip effect? -
CORRECT ANSWER ✔✔When slight demand variability is magnified as it moves up the supply
chain; caused by inaccurate information and self-interests; Transparency can help reduce the
bullwhip effect
Risk __________ is an approach to risk management that aggregates risk to reduce its impact. -
CORRECT ANSWER ✔✔Risk Management
Achieving sustainability is also referred to as _____________ - CORRECT ANSWER ✔✔going
green
WELL ANSWERED GRADED A+
2025/2026
The worlds largest electronics manufacturer and China's largest exporter is - CORRECT ANSWER
✔✔Foxconn
How is today's supply chain management in a "global marketplace" different from the
traditional approach to supply chain management? - CORRECT ANSWER ✔✔Today, each
segment works together, whereas in the past, it was broken up into segments that had nothing
to do with each other. There is more communication
Inventory is considered insurance against __________. The cost to carry a retail item in
inventory for one year is estimated to be between _________% and ____________ % of what
the item costs - CORRECT ANSWER ✔✔supply chain uncertainty; 18l% and 35%
What is the bullwhip effect? What is the typical result when supply chain members don't have
confidence in demand information? What can be done to reduce the Bullwhip effect? -
CORRECT ANSWER ✔✔When slight demand variability is magnified as it moves up the supply
chain; caused by inaccurate information and self-interests; Transparency can help reduce the
bullwhip effect
Risk __________ is an approach to risk management that aggregates risk to reduce its impact. -
CORRECT ANSWER ✔✔Risk Management
Achieving sustainability is also referred to as _____________ - CORRECT ANSWER ✔✔going
green
