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MGT 322 QUIZ 1 QUESTIONS AND ANSWERS.| GRADED A

MGT 322 QUIZ 1 QUESTIONS AND ANSWERS.MGT 322 QUIZ 1 QUESTIONS AND ANSWERS. Chapter 1 1. A supply chain is a network of partners who collectively convert a basic _________ into a finished product (downstream) that is valued by end-customers, and who manage returns at each stage. a. Product b. Commodity (upstream) c. Item d. Sector 2. In a supply chain, materials flow _____________. a. Right to left b. Up and down c. Left to right d. Down and up 3. The return of unwanted good and packaging in the opposite direction. a. Reverse logistics b. Waste c. Chain d. Outbound logistics 4. The discarding of product at any stage in the supply chain due to quality problems. a. Outbound logistics b. Waste c. Reverse logistics d. Inbound logistics 5. The _____ within a supply chain is to keep materials flowing from source to end-customer. a. Synchronous b. Goal c. Aim d. Time dimension 6. What are the three hard objectives for creating logistics advantage? a. Quality, time, cost b. Cost, product, time c. Quality, product, time d. Time, product, cost 7. What are the three further important ways of creating logistics advantage? a. Quality, dealing with uncertainty, sustainability b. Controlling variability, dealing with uncertainty, time c. Controlling variability, quality, sustainability d. Controlling variability, dealing with uncertainty, sustainability 8. To create the capability in advance to handle uncertainty. a. Reactive b. Proactive c. Performance d. Response 9. To cope with uncertainty in a focal firm’s internal or external environment. a. Response b. Performance c. Proactive d. Reactive 10. Which of the following are examples of soft objectives? a. Confidence and security b. Logistics and marketing c. Surveys and attitudes d. Attitude and perception 11. Which of the following is considered the “triple-bottom line”? a. Social, environmental, economic b. Economic, financial, social c. Social, financial, economic d. Environmental, economic, performance 12. Which of the following are examples of factors outside of logistics that support performance objectives? a. Time, innovation, product superiority b. Brand, innovation, quality c. Continuity, brand, product superiority d. Product superiority, innovation, brand 13. Order winners and qualifiers are _____________________________. a. Very different performance criteria b. Specific to individual segments c. Change over time d. Part of the maturity phase. 14. Factors that are regarded by the market as an “entry ticket”. a. Order winners b. Stocks c. Products d. Order qualifiers 15. What are the five principles of strategic positioning? a. Unique quality propositions, a flexible chain, identify the trade-offs, align logistics processes, continuity b. Unique value proposition, a closed supply chain, identify the trade-offs, align logistics processes, continuity c. Unique value proposition, tailored supply chain, identify the trade-off, align logistics processes, continuity d. Unique value proposition, tailored supply chain, eliminate the trade-offs, align logistics processes, continuity 16. Bill Gates describes the 2000s as _________________________________________. a. Business @ the speed of light b. Business @ the speed of sound c. Business @ the speed of RAM d. Business @ the speed of thought 17. Social issues have been developed more broadly under the theme ____________________. a. Corporate social reaction b. Corporation social responses c. Corporate social responsibility d. Corporate social respect 18. What are the four options for crafting strategy? a. Evolve, classical, accommodate, systemic b. Evolve, classical reactionary, systemic c. Evolve, traditional, accommodate, systemic d. Evolve, classical accommodate, linear 19. Developing the capability to support more of one priority (cost) hobbles the capability to support another (time) is (a) _________________. a. System b. Reaction c. Trade-off d. Functional 20. Quality is about doing things ______________. a. Fast b. Slowly c. Right d. Expeditiously Chapter 2 1. In Chapter 2, what are the two types of customers? a. Business customers and end-customers b. Business customers and corporate customers c. End-customers and initial-customers d. Institutional customers and end-customers 2. ________ are people who use or consume the product. a. Customers b. Businesses c. Consumers d. Institutions 3. Markets can be segmented by: a. Demographic, geographic, technical, behavioral b. Demographic, geographic, spatial, behavioral c. Demographic, spatial, technical behavioral d. Geographic, spatial, technical, behavioral 4. What are the most important characteristics of segments? a. Measurable, economically feasible, accessible, actionable b. Profitable, economically viable, accessible, actionable c. Measurable, economically viable, accessible, actionable d. Measurable, profitable, accessible, actionable 5. The _______________ is the set of marketing decisions that is made to implement positioning strategy (target market segments and differential advantage) and to achieve the associated marketing and financial goals. a. Marketing strategy b. Marketing plan c. Marketing goal d. Marketing mix 6. Which of the following are the ‘4 Ps”? a. Product, price, promotion, place b. Product, plan, promotion, place c. Plan, promotion, place, people d. Plan, price, place, people 7. How is segmentation usually undertaken? a. By profit margin b. By account size c. By product d. By geographic area 8. Total demand (aggregate) for a product can be broken down in to what four components? a. Base, trend, time, uncertainty b. Base, season, time, uncertainty c. Base, trend, seasonality, uncertainty d. Trend, seasonality, deviation, uncertainty 9. A development of the service quality-product quality-price model is that of _____________________. a. Operational excellence b. Product leadership c. Customer intimacy d. Value discipline 10. Which of the following is NOT one of the three strategies, or generic value disciplines? a. Value discipline b. Product leadership c. Customer intimacy d. Operational excellence 11. Financial incentives include which of the following? a. Financial incentives, social and financial bonds, structural bonds b. Economics, social and financial bonds, structural bonds c. Financial incentives, economic bonds, structural bonds d. Social and financial bonds, structural bonds, CD’s 12. __________ is what people think of us and _________ is how long we keep a customer (or what share of his or her business we take). a. Customer behavior and customer loyalty b. Customer satisfaction and customer loyalty c. Customer satisfaction and customer preferences d. Customer loyalty and customer preferences 13. ___________ is driven by the retailers who want to offer low prices to end-customers in order to drive high volumes. a. Margin-driven behavior b. Performance-driven behavior c. Sales-driven behavior d. Volume-driven behavior 14. _________ is driven by offering a wide selection of products and value adding services. a. Volume-driven behavior b. Margin-driven behavior c. Sales-driven behavior d. Performance-driven behavior 15. Which of the following is NOT one of the three aspects of buying behavior? a. Demand profile, competitive profile, performance profile b. Demand profile, buying profile, competitive profile c. Demand profile, competitive profile, product profile d. Competitive profile, personal profile, product profile 16. ______________ refers to upstream relationships between members of a network. a. Supply chain b. Business to business c. Business to customer d. Customer to consumer 17. _______________ is based on the principle that marketing strategies should be continuously extended to strengthen customer loyalty. a. Customer relationship principle b. Customer loyalty program c. Customer relationship management d. Customer preference management 18. ________________ describes how a given market might be broken up into different groups of customers with similar needs. a. Product management b. Customer preference c. Segmentation d. Preference management 19. Important characteristics of segments includes ALL of the following EXCEPT: a. Measurables b. Economically viable c. Customers d. Actionable 20. When does quality of service take place? a. Customer service b. Service delivery c. Business service d. Customer expectations Chapter 3 1. A _____________ is one that has a similar level of risk. a. New investment b. Comparable investment c. Risky investment d. Even investment 2. Working capital includes ALL of the following EXCEPT: a. Cash and debtors b. Inventory c. Creditors d. Loans 3. What are the two main drivers for ROI? a. Increased profitability and decreased asset utilization b. Decreased profitability and increased asset utilization c. Increased profitability and increased asset utilization d. Decreased profitability and decreased asset utilization 4. Which of the following is NOT a key time-related ratio? a. Above average inventory turnover b. Average inventory turnover c. Average settlement period for debtors d. Average settlement period for creditors 5. Which of the following is a popular way of analyzing costs? a. Volume of costs b. Stepped fixed costs c. Volume of activity d. Volume of fixed costs 6. ___________ tend to say the same as volume of activity changes. a. Fixed costs b. Variable costs c. Standard costs d. Volume costs 7. ____________ change as the volume of activity changes. a. Fixed cost b. Variable costs c. Standard costs d. Volume costs 8. Variable costs include such things as _________________. a. Fixed costs b. Variable costs c. Standard costs d. Volume costs 9. Examples of direct costs include none of the following EXCEPT: a. Salaries and utilities b. Labor and materials c. Labor and utilities d. Materials and salaries 10. Direct product profitability method is widely used in ___________ industry. a. Trucking b. Technology c. Retail d. Shipping 11. Which of the following is NOT a cost driver of quality? a. Prevention b. Appraisal c. Profit d. Internal and external failure 12. The CTP utilizes output from what two sources? a. Activity times and activity costs b. Activity times and activity processes c. Activity costs and activity schedules d. Activity times and activity schedules 13. Which group typically has a passing interest in a firm in which they invest? a. Local communities b. Government c. Shareholders d. Employees 14. Which of the following is NOT an effective cross-supply chain management characteristic? a. Simple to understand b. No more than ten in total number c. Order to delivery lead time d. Representative of a significant causal relationship 15. The product of the cash generation and asset efficiency ratio is the _______________. a. Order process ratio b. Profit ratio c. Spend ratio d. Supply chain ratio 16. How many levels does the supply chain operations reference model (SCOR) possess? a. 3 b. 4 c. 2 d. 5 17. According to the textbook, ABC stands for? a. Accounting-based activity b. Activity-based activity c. Action-based activity d. Allocation-based activity 18. ____ is a widely used method for measuring shareholder value. a. ABC b. SCOR c. ROI d. MBA 19. ________________ is unhelpful in making logistics-related decisions because it is insensitive to processes and cost drivers. a. Traditional cost accounting b. Traditional return on investment c. Traditional finance measurement d. Traditional cost logistics management 20. Kaplan and Norton propose that the _____________________ should balance the financial perspective (goals for future performance and measures of past performance) with similar goals and measures for the underlying drivers of long-term profitability. a. Traditional scorecard b. Logistics scorecard c. Modern scorecard d. Balanced scorecard Chapter 4 1. Generic drivers of internationalism include ALL of the following EXCEPT: a. A search for low factor and supply costs b. The need to follow customers c. A search to reduce costs d. A search for new geographic market areas 2. Which of the following is NOT a dimension of internationalism strategies? a. Competitive moves b. Product offering c. Market participation d. Global shifts 3. Logistical implications of internationalism does NOT include which of the following? a. Inventory b. Handling c. Pricing d. Transport 4. The ____________ involves a company’s consolidating production of products in specific factories. a. Focused factory strategy b. Focused logistics strategy c. Focused profit strategy d. Focused loss strategy 5. Major savings can be achieved through ____________________. a. Shipping b. Materials c. Centralized inventories d. Reducing number of factories 6. Which of the following is NOT a main difference in international logistics? a. Extended lead time of supply b. Extended and unreliable transit times c. Multiple freight modes and cost options d. Factories that cannot produce the number of goods needed 7. What freight mode is typically the fastest? a. Air b. Road c. Sea d. Rail 8. Which of the following is NOT a phase in the location selection process? a. Project b. Specification of project plan c. Implementation of plan d. Relevant location criteria 9. Global coordination and local operation, which relates to laying out the __________________ and coordination differently from the map of the physical operations. a. Flow of goods b. Flow of information c. Flow of logistics d. Flow of processes 10. Differences in the supply chain characteristics of companies include: a. Ending point and starting point b. Starting point and tradition c. Tradition and ending point d. Ending point and logistics 11. Reverse logistics deals with the ________________ that go back up the supply chain for a number of reasons. a. Flow of information b. Flow of logistics c. Flow of goods d. Flow of trucks 12. Which of the following is NOT a reason why reverse logistics is often only incorporate into international network design? a. No infrastructure b. Focal firms see reverse logistics as a cost of doing business c. It is hard to forecast the reverse flow and composition d. Visibility of process is more transparent. 13. Supply chain disruptions such as transportation breakdowns and geopolitical risks can have many impacts including: a. Empty distribution channels b. Stores and goods stuck upstream leading to lost sales c. Revenue and customers d. All of the above 14. Immediate responses to risks can include ALL of the following EXCEPT: a. Raised inventories levels b. Redrawing transportation scenarios c. Supplier hedges are put into place d. Shipping channels are closed 15. Based upon possible risks or a real situation, scenarios for ______________________ at risk can be developed together with contingency plans on a route-by-route and plant-to-plant basis. a. Good and services b. Customer services c. Transportation routes d. Management positions 16. Which of the following is NOT a focus of risk management teams? a. Develop contingency plans and risk protocols b. Audit preparedness c. Change shipping routes d. Train plant management 17. CSR largely overlaps _____________. a. Sustainability b. Logistics c. Auditing d. Management 18. According to the textbook, what company came under scrutiny from customers in the 1990s for its use of low cost labor, primarily in Asia? a. Procter and Gamble b. Asics c. Nike d. Mizuno 19. More progressive firms are now beginning to use CSR as a _________________. a. Market tool b. Market practice c. Market rule d. Market lever 20. Which of the following is NOT the key to the success of internationalization strategy? a. Rationalization of sourcing b. Production c. Sourcing d. Customer service Chapter 5 1. External benefits include ALL of the following EXCEPT: a. Lowering overall cycle time b. Providing services faster c. Outrunning competition d. Larger profits 2. The definition of competing on time is: a. The timely response to customer needs b. The timely response to management needs c. The timely response to employee needs d. The timely response to shareholder needs 3. __________ is often used casually to refer to things that we do not understand: as we understand more about a system, the boundary of ‘complexity’ recedes. a. Causality b. Profitability c. Complexity d. Intuitiveness 4. In logistics terms, when does a system experience a loss of control? a. When it becomes more complex b. When it becomes more rigid c. When it becomes more profitable d. When it becomes more timely 5. What are two types of variety? a. Simple and complex b. New and old c. Internal and external d. Domestic and international 6. When a company attacks time directly, the first benefits to show up are usually ______________ and ______________. a. Profits, Logistics b. Shorter cycle times, faster inventory turns c. Longer cycle times, longer inventory turns d. Average cycle times, average inventory turns 7. Which of the following is NOT a time-based opportunity to add value? a. Increased responsiveness to customer needs b. Managing increased variety c. Increased product innovation d. Increasing risks by relying more on forecasts 8. Which of the following is NOT a time-based opportunity to reduce cost? a. Reducing the need for working capital b. Increase the need for plant and equipment capital c. Reducing development costs d. Reducing quality costs 9. Two basic limitations to the need for time-based logistics management are the _______________ and ________________ required. a. Need for speed, lack of speed limit b. Need for speed, degree of speed c. Lack of speed, degree of speed d. Lack of speed, speed increase 10. ______ is a more subjective measure that is open to interpretation. a. Profit b. Time c. Cost d. Speed 11. P-time as a measure of performance is _____________. a. Profit time b. Performance time c. Production time d. Prospective time 12. The purpose of supply chain mapping is to ____________ visibility of the processes within the supply chain. a. Increase b. Generate c. Reduce d. Consume 13. How many stages are included in time-based process mapping? a. 5 b. 10 c. 3 d. 7 14. According to the textbook, the abbreviation MTS stands for? a. Mass transit site b. Make to stack c. Make to stand d. Make to stock 15. When faced with a d-time shorter than the corresponding p-time, companies have options. Which of the following is NOT an option? a. Attempt to make to order b. Forecast demand c. Supply from stock (MTS) d. Outsource the product 16. What approach should be used last when p-time is greater than d-time? a. Integrate b. Simplify c. Automate d. Compress 17. What is the first step in implementing a time-based strategy? a. Understand your need for change b. Understand your need for employees c. Understand your need for profits d. Understand your need for management 18. How many steps are included in the implementation of time-based practices? a. 5 b. 6 c. 7 d. 4 19. Implementation of time-based practices assumes a _______________ point of view. a. Profit/loss b. Supply chain c. Employee d. Management 20. The time-based approach means identifying and removing the sources and causes of ________ in the supply network. a. Loss b. Supply chain c. Waste d. Failure

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