MGT 8803 - Supply Chain UPDATED
ACTUAL Exam Questions and CORRECT
Answers
What are capabilities that drive performance? - CORRECT ANSWER - · Products & service
features
· Costs
· Quality
· Time to market
· Ability to innovate
What is supply chain management? - CORRECT ANSWER - management of the flow of
goods and services and includes all processes that transform raw materials into final products
Involves active streamlining of business's supply-side activities to max customer value and gain
competitive advantage in marketplace
Operations and supply chain managers focus on... - CORRECT ANSWER - how to develop
capabilities (increase profitability) to design, produce, and deliver products and services in a
competitive market
What are the six primary processes of the OSCM? - CORRECT ANSWER - · Planning what
you want to do
· Sourcing where you will get your inputs
· Making your product or services
· Delivering product and services
· Returns - Mechanisms to making returns
· Engage - looking and finding ways to improve the five above
What are consequences of poor supply chain? - CORRECT ANSWER - · Loss of Productivity
,· Customer Complaints
· Increased Costs (ex: expediting)
· Loss of Revenue
· Damage to Brand
What are the top challenges to supply chain? 2015 - CORRECT ANSWER - · Flexibility and
responsiveness to changes in demand/product mix
· Supplier performance in terms of risk, reliability, and quality
· Ensuring sufficient supplier capacity to meet demand
· Effectively supporting new product launches
· Lack of competitive cost of structure - price of the end consumer is the function of the cost of
the supply chain
What are the top challenges to supply chain? 2019 - CORRECT ANSWER - · Hiring
qualified workers
· Customer demands for lower costs/pricing
· Customer demands for faster response times
· Increasing competitive intensity, rising customer expectations
· Forecasting - trying to predict what the demand will be in future
What are the hierarchy of decisions? - CORRECT ANSWER - · Long term / strategic
· Medium term / operational / optimize
· Short term / execution/ scheduling
Hierarchy of decisions: long-term - CORRECT ANSWER - · Network configuration
· supply chain model
· outsourcing
· vertical integration
, Hierarchy of decisions: medium-term - CORRECT ANSWER - · lean
· sales and operational planning
· inventory management
Hierarchy of decisions: short-term - CORRECT ANSWER - · scheduling people, equipment,
product
· real-time decisions
What is efficient vs responsive supply chain? - CORRECT ANSWER - · efficient = focus on
cost reduction, asset utilization, efficiency, productivity, yield capacity utilization, scale
· responsive - focus on responding speedly to change in customer delivery requirements
(typically volume and lead time)
Efficient vs Responsive: SC Operating Model - CORRECT ANSWER - · E: supply
predictable demand efficiently at lowest possible cost
· R: respond quickly to unpredictable demand in order to minimize stockouts, lost sales,
markdowns & obsolete inv
Efficient vs Responsive: Capacity Strategy - CORRECT ANSWER - · E: maintain high
average utilization rate
· R: deploy excess buffer capacity/ capacity flexibility
Efficient vs Responsive: Inventory Strategy - CORRECT ANSWER - · E: generate high turns
and minimize inventory throughout the supply chain
· R: deploy significant buffer/ safety stocks of parts or finished goods
ACTUAL Exam Questions and CORRECT
Answers
What are capabilities that drive performance? - CORRECT ANSWER - · Products & service
features
· Costs
· Quality
· Time to market
· Ability to innovate
What is supply chain management? - CORRECT ANSWER - management of the flow of
goods and services and includes all processes that transform raw materials into final products
Involves active streamlining of business's supply-side activities to max customer value and gain
competitive advantage in marketplace
Operations and supply chain managers focus on... - CORRECT ANSWER - how to develop
capabilities (increase profitability) to design, produce, and deliver products and services in a
competitive market
What are the six primary processes of the OSCM? - CORRECT ANSWER - · Planning what
you want to do
· Sourcing where you will get your inputs
· Making your product or services
· Delivering product and services
· Returns - Mechanisms to making returns
· Engage - looking and finding ways to improve the five above
What are consequences of poor supply chain? - CORRECT ANSWER - · Loss of Productivity
,· Customer Complaints
· Increased Costs (ex: expediting)
· Loss of Revenue
· Damage to Brand
What are the top challenges to supply chain? 2015 - CORRECT ANSWER - · Flexibility and
responsiveness to changes in demand/product mix
· Supplier performance in terms of risk, reliability, and quality
· Ensuring sufficient supplier capacity to meet demand
· Effectively supporting new product launches
· Lack of competitive cost of structure - price of the end consumer is the function of the cost of
the supply chain
What are the top challenges to supply chain? 2019 - CORRECT ANSWER - · Hiring
qualified workers
· Customer demands for lower costs/pricing
· Customer demands for faster response times
· Increasing competitive intensity, rising customer expectations
· Forecasting - trying to predict what the demand will be in future
What are the hierarchy of decisions? - CORRECT ANSWER - · Long term / strategic
· Medium term / operational / optimize
· Short term / execution/ scheduling
Hierarchy of decisions: long-term - CORRECT ANSWER - · Network configuration
· supply chain model
· outsourcing
· vertical integration
, Hierarchy of decisions: medium-term - CORRECT ANSWER - · lean
· sales and operational planning
· inventory management
Hierarchy of decisions: short-term - CORRECT ANSWER - · scheduling people, equipment,
product
· real-time decisions
What is efficient vs responsive supply chain? - CORRECT ANSWER - · efficient = focus on
cost reduction, asset utilization, efficiency, productivity, yield capacity utilization, scale
· responsive - focus on responding speedly to change in customer delivery requirements
(typically volume and lead time)
Efficient vs Responsive: SC Operating Model - CORRECT ANSWER - · E: supply
predictable demand efficiently at lowest possible cost
· R: respond quickly to unpredictable demand in order to minimize stockouts, lost sales,
markdowns & obsolete inv
Efficient vs Responsive: Capacity Strategy - CORRECT ANSWER - · E: maintain high
average utilization rate
· R: deploy excess buffer capacity/ capacity flexibility
Efficient vs Responsive: Inventory Strategy - CORRECT ANSWER - · E: generate high turns
and minimize inventory throughout the supply chain
· R: deploy significant buffer/ safety stocks of parts or finished goods
