SCMN 2150 FINAL EXAM QUESTIONS AND ANSWERS GRADED A+

SCMN 2150 FINAL EXAM QUESTIONS AND ANSWERS GRADED A+ Which global channel focuses on the documentation needed for government compliance, visibility, and control of goods moving globally. A.) Communication channel B.) Transaction channel C.) Distribution channel D.) Omni-channel A.) Communication channel According to a study by Stanford University, cross border trade processes can involve up to 106 steps. What problem does this cause? A.) Greater in-transit visibility B.) Lower inventory carrying costs C.) Higher order fill rates D.) Opportunities for freight delays D.) Opportunities for freight delays` What is the first step in effective global sourcing? A.) develop an understanding of the supply base and investigate the capabilities of individual suppliers B.) Negotiate pricing, volume, and delivery schedules C.) Articulate your needs and maintain open lines of communication D.) Evaluate your spend category and user requirements. D.) Evaluate your spend category and user requirements. When a retailer sources goods to sell under its own name, what type of goods are they offering? A.) Private label goods B.) Generic goods C.) Branded goods D.) Outsourced goods A.) Private label goods What type of risk is created by the inability to maintain real-time control over a complex network of suppliers and carriers? A.) Visibility risks B.) Inventory carrying cost risks C.) In-transit damage risks D.) Intellectual property protection risks A.) Visibility risks What is the key to success for global manufacturers when competing with domestic companies? A.) Competitive landed costs B.) Low labor costs C.) Superior technology D.) Cheap logistics services A.) Competitive landed costs Production of goods by one firm, under the label or brand of another firm is called: A.) Global sourcing B.) Contract manufacturing C.) Exporting D.) Domestic production B.) Contract manufacturing When Volvo and DongFeng Motor Group collaborate to build medium and heavy duty trucks for the Chinese market and nearby countries, what type of global manufacturing strategy are they pursuing? A.) Exclusive manufacturing B.) Licensing C.) Joint venture D.) Direct investment C.) Joint venture Which of the following is expected to be a growing global manufacturing trend in the near future? A.) Decreased use of automation B.) Avoidance of business-to-business exchanges C.) Increased reliance on internal resources D.) Increased focus on green manufacturing D.) Increased focus on green manufacturing In this week's reading, best in class procurement organizations will need to become more comfortable with: A.) Lower skilled workforces B.) Volatile oil prices C.) Data mining and analysis D.) Process suboptimization C.) Data mining and analysis This INCOTERM maximizes the effort, risk, and costs for the buyer (i.e., the importer)? A.) CPT - carriage paid to... B.) FAS - free alongside ship C.) EXW - ex works D.) DDP - delivered, duty paid C.) EXW - ex works Incoterms determine the seller's and buyer's respective obligations concerning responsibilities and charges for the transportation of goods from the seller's premises to the buyer's place. True False True This INCOTERM maximizes the effort, risk, and costs for the seller (i.e., the exporter)? A.) "D" terms - delivered B.) "F" terms - ready for delivery C.) "C" terms - transport cost D.) "E" terms - ex works A.) "D" terms - delivered Match the international shipping document with the most appropriate description: Commercial invoice: A.) Escrow- like agreement between buyer's and