MAR 3203 EXAM 4 UCF QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE 100%
SOLVED| GRADED A+
Mitigation Tactics used for Supplier quality / delivery failures Build strong relationships w/
suppliers, implement contracts w/ penalties, communicate regularly, monitor supplier quality
and delivery time
Mitigation Tactics used for Outsourcing Vertical Integration
Mitigation Tactics used for Economic Risk contracts that include clauses for price
fluctuations, hedging to control for exchange rate changing
Mitigation Tactics used for Theft, Terrorism, and Vandalism Insurance, security measures
include GPS and RFID, aquire patents
Mitigation Tactics used for Distribution Risk Careful selection of suppliers, track distrubtion,
implement contracts w/ penalties
Mitigation Tactics used for Political Risk Cross country diversication, franchising and
licensing
Mitigation Tactics used for Logistics delay or damage Multiple transportation
modes/methods, effective contracts, vertical integration of transportation and delivery systems
, Strategic Sourcing An intrgrated approach to supply chain management that permits an
organization to leverage its purchasing power to identify and improve procurement processes.
Uses negotiation w/ suppliers periodic assessment of transactions, and constant evaluation of
purchasing activities to optimize supplier relationships and increase value
How is Strategic sourcing different from purchasing? Extends beyond initial purchasing price
and is concerned with the total cost of ownership throughout the products life cycle
backward integration sends information entered into a given system automatically to all
upstream systems and processes
forward integration takes information entered into a given system and sends it
automatically to all downstream systems and processes
joint ventures when two or more companies join forces - sharing resources, risks, and
profits, but not actually merging companies - to pursue specific opportunities
Keiretsu Networks A Japanese term that describes suppliers who become part of a company
coalition
Virtual Company Organization using networks to link people, assets and ideas to create and
distribute products and services without being limited to traditional organizational boundaries
or physical location.
SOLVED| GRADED A+
Mitigation Tactics used for Supplier quality / delivery failures Build strong relationships w/
suppliers, implement contracts w/ penalties, communicate regularly, monitor supplier quality
and delivery time
Mitigation Tactics used for Outsourcing Vertical Integration
Mitigation Tactics used for Economic Risk contracts that include clauses for price
fluctuations, hedging to control for exchange rate changing
Mitigation Tactics used for Theft, Terrorism, and Vandalism Insurance, security measures
include GPS and RFID, aquire patents
Mitigation Tactics used for Distribution Risk Careful selection of suppliers, track distrubtion,
implement contracts w/ penalties
Mitigation Tactics used for Political Risk Cross country diversication, franchising and
licensing
Mitigation Tactics used for Logistics delay or damage Multiple transportation
modes/methods, effective contracts, vertical integration of transportation and delivery systems
, Strategic Sourcing An intrgrated approach to supply chain management that permits an
organization to leverage its purchasing power to identify and improve procurement processes.
Uses negotiation w/ suppliers periodic assessment of transactions, and constant evaluation of
purchasing activities to optimize supplier relationships and increase value
How is Strategic sourcing different from purchasing? Extends beyond initial purchasing price
and is concerned with the total cost of ownership throughout the products life cycle
backward integration sends information entered into a given system automatically to all
upstream systems and processes
forward integration takes information entered into a given system and sends it
automatically to all downstream systems and processes
joint ventures when two or more companies join forces - sharing resources, risks, and
profits, but not actually merging companies - to pursue specific opportunities
Keiretsu Networks A Japanese term that describes suppliers who become part of a company
coalition
Virtual Company Organization using networks to link people, assets and ideas to create and
distribute products and services without being limited to traditional organizational boundaries
or physical location.
