Supply Chain Resilience Exam UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Functions of supply chain management - CORRECT ANSWER - - Procurement
- Operations
-Logistics management
-Planning
-Relationship management
Why have supply chain disruptions become especially harmful and critical now? - CORRECT
ANSWER - -Globalization and global reach of supply chains means possible spillover into
many countries and global manufacturing supply chain
-Increased customer requirements
-Supply chain dependent environment where disruptions to single node may ripple down or
upstream and reduce capacity for the full SC
-Longer more complex supply chains
-Greater products variety with shorter product lifecycles
Why SC disruptions happening and becoming more frequent? - CORRECT ANSWER -
Overall:
-Attempts to create a more efficient, cost-conscious supply chain
-Globalization (vulnerability and hazards across the world)
-Increased terrorism and threats
Resulting in:
-Outsourcing & supply base reduction
-Centralization of production & distribution
-Distant production and sourcing
, -Transitioning to lean and agile operations
-Lack of visibility across entire end to end supply chain
Exacerbated by:
-Talent gaps (human-dependent workforce)
-Lack of investment: difficult to justify for events that may not occur
How do SC disruptions harm companies? - CORRECT ANSWER - -Lost sales
-Loss of market share
-Reduction in stock market value
-Increased costs due to premium and expedited logistics
-Reputational damage
How do resilient SCs benefit companies? - CORRECT ANSWER - -Greater sustainable
competitive advantage
-Opps for cost/waste reduction, enhanced speed/quality, new business, or development of more
sustainable products
-Better meet regulatory compliance standards
-Visibility across SC to avoid human costs like modern slavery, can take greater responsibility
across supply chain, more ethical SC
Benefits and costs of a lean/efficient supply chain - CORRECT ANSWER - Best for stable
supply and predictable demand, eliminates non-value added activities
-Highly efficient and able to offer the lowest cost
-May help cut costs and improve coordination
-Enables competitive advantage
-May leave supply chain with no spare capacity to cater for contingencies and therefore
susceptible to disruption
Lean SC/cost efficiency tools - CORRECT ANSWER - -Just-in-time systems
ACTUAL Exam Questions and CORRECT
Answers
Functions of supply chain management - CORRECT ANSWER - - Procurement
- Operations
-Logistics management
-Planning
-Relationship management
Why have supply chain disruptions become especially harmful and critical now? - CORRECT
ANSWER - -Globalization and global reach of supply chains means possible spillover into
many countries and global manufacturing supply chain
-Increased customer requirements
-Supply chain dependent environment where disruptions to single node may ripple down or
upstream and reduce capacity for the full SC
-Longer more complex supply chains
-Greater products variety with shorter product lifecycles
Why SC disruptions happening and becoming more frequent? - CORRECT ANSWER -
Overall:
-Attempts to create a more efficient, cost-conscious supply chain
-Globalization (vulnerability and hazards across the world)
-Increased terrorism and threats
Resulting in:
-Outsourcing & supply base reduction
-Centralization of production & distribution
-Distant production and sourcing
, -Transitioning to lean and agile operations
-Lack of visibility across entire end to end supply chain
Exacerbated by:
-Talent gaps (human-dependent workforce)
-Lack of investment: difficult to justify for events that may not occur
How do SC disruptions harm companies? - CORRECT ANSWER - -Lost sales
-Loss of market share
-Reduction in stock market value
-Increased costs due to premium and expedited logistics
-Reputational damage
How do resilient SCs benefit companies? - CORRECT ANSWER - -Greater sustainable
competitive advantage
-Opps for cost/waste reduction, enhanced speed/quality, new business, or development of more
sustainable products
-Better meet regulatory compliance standards
-Visibility across SC to avoid human costs like modern slavery, can take greater responsibility
across supply chain, more ethical SC
Benefits and costs of a lean/efficient supply chain - CORRECT ANSWER - Best for stable
supply and predictable demand, eliminates non-value added activities
-Highly efficient and able to offer the lowest cost
-May help cut costs and improve coordination
-Enables competitive advantage
-May leave supply chain with no spare capacity to cater for contingencies and therefore
susceptible to disruption
Lean SC/cost efficiency tools - CORRECT ANSWER - -Just-in-time systems
