APIC CSCP Module 1 Questions and Answers 100% Pass

APIC CSCP Module 1 Questions and Answers 100% Pass What would be the best tool to use to balance a set of complex priorities for a supply chain that includes cost minimization, resilience, and time to market? Operations research A design engineer is creating a product that conforms to customer needs according to market research. Which of the following is the most important secondary design element that the engineer should include in the design? It can be sold for a positive return. Maria sells her paintings in the street market on weekends. What is Tier 2 suppliers in this supply chain model? Paint wholesaler If the overall economy of a country is in a trough but economic leading indicators show a healthy increase in demand for the next quarter, which would be a good strategic choice for a risk- seeking organization to make? Hire high-quality new employees at reasonable salaries. Direct materials plus direct labor plus manufacturing overhead equals: the cost of goods sold. Why should positive variances from standards be tracked by an organization? They could show where someone was taking a dangerous shortcut. What is prompting many countries to adopt the International Financial Reporting Standards (IFRS)? Growth in international shareholders and trade If you are working in a firm that is in Stage 1 of supply chain management evolution, you should be prepared for: overly optimistic forecasting. Although it depends upon the type of industry, in most cases supply chain costs can total what percentage of a company's revenues? 50% According to macroeconomic theory, as aggregate prices decrease, what happens to the real gross domestic product (GDP), and why? Real GDP increases, because there is more real wealth. A supply chain that produces and sells bar soap using traditional forecasting at each stage has been experiencing the bullwhip effect. Which of the following has the strongest influence on this effect? Safety stock What are the three essential elements of a performance measurement system? A criterion, a standard, and a measure A firm's highest stage of production is manufacturing resource planning (MRP II), it uses informal demand planning with disconnected spreadsheets for the supply chain, and it has online catalogs on the internet. What stage of supply chain development has the firm reached? Semifunctional enterprise According to Michael Porter, in his influential work on business strategy Competitive Advantage, what else needs to be integrated into a business plan if it already specifies customer service, sales channels, a value system, and an asset footprint? Whether to use make-to-stock or some other operating model In a low-price supermarket chain, the stores, the distribution centers, the third-party logistics provider, and the manufacturers work together to replace what is sold in the stores within less than 24 hours. What type of supply chain structure does that illustrate? Reactive efficient What are the attributes of basic customer service?