BUAD 331 FINAL EXAM REVIEW (terms & questions) 2024

Name the major challenges of Global SCM - Correct Answer Risk, raw material scarcity, complex governmental rules and regulations, environmental sustainability, coordination with global partners, cost pressure, local and regional consumer preferences What dimension of the country assessment framework involves the strength of supply chain support business in the region? - Correct Answer Competency T/F: Supply chain solutions that work in one region can be repeated as long as you have the technology systems to connect all supply chain partners - Correct Answer False Which is not an example of a supply chain disruption for Toyota? A. Toyota enacting a voluntary recall B. The 2011 earthquake that forced Toyota and Honda to stop production C. The truck carrying a small load of Corollas being stolen from a truck stop D. A competitor's sales cause Toyota's forecasted demand to drop - Correct Answer D. A competitor's sales cause Toyota's forecasted demand to drop What is the best way to categorize risk? - Correct Answer Calculate exposure score using both strategic and financial dimensions Which of the following is not an effective way to develop risk management culture? A. KPIs linked to risk management B. Cross functional governance structure C. Escalate issues of non-compliance D. Connection to commercial leadership - Correct Answer C. Escalate issues of non-compliance What are the 4 steps in quantifying risk exposure? - Correct Answer Determine the impact of the risk, likelihood of the risk, status of actions taken to reduce the risk, and exposure based on impact, likelihood and preparedness Improving network visibility is a key element of risk management. Which of the following provides an example of this? A. Reducing process variability B. Implementing a Six Sigma methodology C. Giving a high priority to supply chain risk management D. Using information system that provides information about an inventory shortage - Correct Answer D. Using information system that provides information about an inventory shortage For which set of products is risk mitigation planning most important?