BUAD 331 Final Exam Questions With Verified Answers

Why might a company consider expanding its supply chain internationally? - Answer All of the above (To obtain access to lower-cost suppliers To take advantage of a skilled labor base in another country To support international expansion of sales To fend off competition from an international competitor) What is the biggest cause of difficulties in working with another culture? - Answer Different ways of making decisions and approaching business Which supply chain strategy is most popular with companies today? - Answer Regional strategy that groups countries into clusters What is the most common way that countries agree to increase trade? - Answer Through negotiating bilateral or multilateral FTAs When was the World Trade Organization founded? - Answer 1995 The legal system used in the United States is based on: - Answer common law. Supply chain management has a widely accepted definition that does not vary substantially between countries. - Answer False Which framework is most useful for companies wanting to build an initial assessment of the general operating environment in a country? - Answer EPIC What events can result in a supply chain disruption? - Answer All of the above (Natural disasters like floods Supplier bankruptcy Plant fire at a supplier) Which of the following was NOT discussed as examples of disruption impacts? - Answer Management stress and turnover A strike has just occurred at a key supplier. Which phase is the firm most likely dealing with? - Answer Pre-Due date phase When determining the potential for the likelihood of a particular event, a manager may rely on: - Answer Both B and C (historical information relative to past frequencies. subjective assessments based on knowledge.) What would be the best approach to use if a manager wants to assess risk across key locations across the globe? - Answer Spatial risk assessment ABC Company anticipates a pending event and is able to re-route product flow to avoid being disrupted. ABC Company supply chain exhibits - Answer continuity. Littlejohn Company sources a critical component from a supplier in China and a supplier in Mexico. What type of continuity/resiliency capability does this best represent? - Answer Mitigation capabilities What fundamental mechanisms are needed to manage disruptions? - Answer Both a and b (The ability to discover that disruptions are pending or realized The ability to recover from disruptions) RFID is a technology that was discussed as an enabler of which capability? - Answer Warning capabilities A manager can ________ the probability of natural disaster in the short term. - Answer Neither increase or decrease What is true about events and disruptions? - Answer All disruptions stem from events Auto Company's shipment of parts were stopped due to a railroad accident. The parts were lifted from the rail car by helicopter and flow to the assemble plant. Which capability that this best exhibit? - Answer Contingency capabilities Supply chain disruptions can be: - Answer All of the above (From natural disasters From man-made events Short in duration Both a and b) Blasteren Company has been monitoring the weather very closely as a hurricane is potentially headed towards their manufacturing plant in Florida. What phase of disruption best describes our current situation? - Answer Pre-disruption phase Disruptions can involve any of the following except? - Answer All of the above (Unsafe products that cause a recall Counterfeit parts Shortage of needed inputs) A natural disaster occurred, but Company ABC's supply chain continued to operate at a normal level. What does this exhibit? - Answer Continuity Fibs Company operates a supply chain that spans the globe. This supply chain can be: - Answer All of the above (A source of competitive advantage A source of potential disruption A source of significant risk) Having two manufacturing plants that can make the same product best exhibits which capability? - Answer Mitigation capabilities Volknox Company has experienced a disruptive event. Specifically, it faces a shortage of product X. What could NOT be the outcome of this event? - Answer All of the above could be an outcome (Lost sales to customers Shutdown of manufacturing process Very costly impact Mild impact) What were ways discussed for a company to build a more resilient supply chain? - Answer All of the above (Educating and training of the workforce Learning from failure Simulating disruptions)