SCM 421 Final Exam Questions With Correct
Answers
Which |of |the |following |is |contributing |to |an |increased |emphasis |on |risk |management?
a. |Globalization
b. |Outsourcing
c. |Faster |clockspeeds
d. |Increasing |customer |demands
e. |All |of |the |above |- |CORRECT |ANSWER✔✔-all |of |the |above
Just-in-time |is |related |to |which |other |principle?
a. |Lean |production
b. |Outsourcing
c. |Globalization
d. |Greater |competition
e. |More |complex |supply |chains |- |CORRECT |ANSWER✔✔-lean |production
Thomas |Friedman's |best-selling |book |The |World |is |Flat |was |primarily |concerned |with |what?
a. |Sustainability
b. |Globalization
c. |Innovation
d. |Global |warming
e. |International |conflict |- |CORRECT |ANSWER✔✔-globalization
,Which |of |the |following |statements |is |false?
a. |There |is |a |high |level |of |apathy |toward |supply |risk |management
b. |Most |companies |do |not |quantify |risks |when |outsourcing |production
c. |Companies |are |well |versed |in |supply |chain |risk |management
d. |Risk |management |is |a |challenging |domain |in |need |of |more |attention
e. |Many |companies |do |not |have |a |risk |management |plan |in |place |- |CORRECT |ANSWER✔✔-
Companies |are |well |versed |in |supply |chain |risk |management
External |spend, |as |a |fraction |of |total |cost, |has |increased |for |most |companies. |Which |risk |does |
this |impact |the |most?
a. |Inventory |risk
b. |Quality |risk
c. |Transit |loss |risk
d. |Risk |of |natural |disasters
e. |Economics |risks |- |CORRECT |ANSWER✔✔-quality |risk
You |can |acquire |services |from |Dun |& |Bradstreet |to |help |do |a |better |job |with |which |of |the |
following?
a. |Hedging
b. |Near-sourcing
c. |Supplier |monitoring
d. |Postponement
e. |Contract |language
f. |All |of |the |above |- |CORRECT |ANSWER✔✔-supplier |monitoring
Dividing |suppliers |into |different |groups |based |on |the |risk |they |pose |to |a |company |is |referred |
to |as |what?
,a. |Supplier |segmentation
b. |Supplier |selection
c. |Supplier |monitoring
d. |Supplier |auditing
e. |Supplier |site |visits
f. |Both |A |and |D |- |CORRECT |ANSWER✔✔-supplier |segmentation
Which |action |is |considered |hedging?
a. |Segmenting |suppliers |based |on |risk
b. |Ensuring |careful |contract |language
c. |It |is |comparable |to |near-sourcing
d. |Waiting |to |customize |a |product |until |the |last |minute
e. |The |purchase |of |future |contracts |- |CORRECT |ANSWER✔✔-The |purchase |of |future |contracts
One |strategy |to |reduce |risks |is |to |have |a |backup |supplier |in |case |your |incumbent |is |not |able |
to |deliver. |What |is |this |strategy |called?
a. |Inventory |pooling
b. |Hedging
c.Postponement
d. |Dual- |or |multi-sourcing
e. |Single-sourcing |- |CORRECT |ANSWER✔✔-Dual- |or |multi-sourcing
Why |is |part |standardization |able |to |reduce |risk?
a. |You |are |able |to |monitor |quality |much |better
b. |You |increase |the |supply |options |you |can |turn |to |when |a |disruption |occurs
c. |Standardized |parts |are |easier |describe |in |an |RFP/RFQ
, d. |Standardized |parts |are |likely |much |preferred |by |your |customers
e. |Standardized |parts |can |be |purchased |in |bulk |- |CORRECT |ANSWER✔✔-You |increase |the |
supply |options |you |can |turn |to |when |a |disruption |occurs
As |you |implement |continuity |planning, |what |questions |should |you |ask?
a. |How |likely |is |each |disruption?
b. |What |are |each |disruption's |potential |impacts?
c. |How |prepared |are |you |to |respond |to |each |disruption?
d. |All |of |the |above
e. |Only |A |& |B |- |CORRECT |ANSWER✔✔-all |of |the |above
The |goal |of |continuity |planning |is |to |prepare |for |a |disruption |before |it |strikes |so |that |you |can |
resume |normal |operation |as |quickly |as |possible.
TrueFalse |- |CORRECT |ANSWER✔✔-true
Which |of |the |following |is |true |of |disruption |scanning?
a. |Proactive |scanning |is |part |science; |that |is, |it |is |data |driven
b. |Proactive |scanning |is |part |art, |requiring |that |you |ask |"What |if |. |. |.?"
c. |Almost |all |disruptions |are |completely |unforeseeable—that's |why |you |do |continuity |planning
d. |All |of |the |above
e. |Only |A |& |B |- |CORRECT |ANSWER✔✔-only |A |& |B
What |is |the |primary |outcome |of |disruption |assessment?
a. |A |clear |understanding |of |all |of |the |risks |that |might |affect |your |operations
b. |A |set |of |priorities |to |help |you |effectively |use |resources |to |mitigate |risks
c. |A |pretty |heat |map
d. |All |of |the |above
Answers
Which |of |the |following |is |contributing |to |an |increased |emphasis |on |risk |management?
a. |Globalization
b. |Outsourcing
c. |Faster |clockspeeds
d. |Increasing |customer |demands
e. |All |of |the |above |- |CORRECT |ANSWER✔✔-all |of |the |above
Just-in-time |is |related |to |which |other |principle?
a. |Lean |production
b. |Outsourcing
c. |Globalization
d. |Greater |competition
e. |More |complex |supply |chains |- |CORRECT |ANSWER✔✔-lean |production
Thomas |Friedman's |best-selling |book |The |World |is |Flat |was |primarily |concerned |with |what?
a. |Sustainability
b. |Globalization
c. |Innovation
d. |Global |warming
e. |International |conflict |- |CORRECT |ANSWER✔✔-globalization
,Which |of |the |following |statements |is |false?
a. |There |is |a |high |level |of |apathy |toward |supply |risk |management
b. |Most |companies |do |not |quantify |risks |when |outsourcing |production
c. |Companies |are |well |versed |in |supply |chain |risk |management
d. |Risk |management |is |a |challenging |domain |in |need |of |more |attention
e. |Many |companies |do |not |have |a |risk |management |plan |in |place |- |CORRECT |ANSWER✔✔-
Companies |are |well |versed |in |supply |chain |risk |management
External |spend, |as |a |fraction |of |total |cost, |has |increased |for |most |companies. |Which |risk |does |
this |impact |the |most?
a. |Inventory |risk
b. |Quality |risk
c. |Transit |loss |risk
d. |Risk |of |natural |disasters
e. |Economics |risks |- |CORRECT |ANSWER✔✔-quality |risk
You |can |acquire |services |from |Dun |& |Bradstreet |to |help |do |a |better |job |with |which |of |the |
following?
a. |Hedging
b. |Near-sourcing
c. |Supplier |monitoring
d. |Postponement
e. |Contract |language
f. |All |of |the |above |- |CORRECT |ANSWER✔✔-supplier |monitoring
Dividing |suppliers |into |different |groups |based |on |the |risk |they |pose |to |a |company |is |referred |
to |as |what?
,a. |Supplier |segmentation
b. |Supplier |selection
c. |Supplier |monitoring
d. |Supplier |auditing
e. |Supplier |site |visits
f. |Both |A |and |D |- |CORRECT |ANSWER✔✔-supplier |segmentation
Which |action |is |considered |hedging?
a. |Segmenting |suppliers |based |on |risk
b. |Ensuring |careful |contract |language
c. |It |is |comparable |to |near-sourcing
d. |Waiting |to |customize |a |product |until |the |last |minute
e. |The |purchase |of |future |contracts |- |CORRECT |ANSWER✔✔-The |purchase |of |future |contracts
One |strategy |to |reduce |risks |is |to |have |a |backup |supplier |in |case |your |incumbent |is |not |able |
to |deliver. |What |is |this |strategy |called?
a. |Inventory |pooling
b. |Hedging
c.Postponement
d. |Dual- |or |multi-sourcing
e. |Single-sourcing |- |CORRECT |ANSWER✔✔-Dual- |or |multi-sourcing
Why |is |part |standardization |able |to |reduce |risk?
a. |You |are |able |to |monitor |quality |much |better
b. |You |increase |the |supply |options |you |can |turn |to |when |a |disruption |occurs
c. |Standardized |parts |are |easier |describe |in |an |RFP/RFQ
, d. |Standardized |parts |are |likely |much |preferred |by |your |customers
e. |Standardized |parts |can |be |purchased |in |bulk |- |CORRECT |ANSWER✔✔-You |increase |the |
supply |options |you |can |turn |to |when |a |disruption |occurs
As |you |implement |continuity |planning, |what |questions |should |you |ask?
a. |How |likely |is |each |disruption?
b. |What |are |each |disruption's |potential |impacts?
c. |How |prepared |are |you |to |respond |to |each |disruption?
d. |All |of |the |above
e. |Only |A |& |B |- |CORRECT |ANSWER✔✔-all |of |the |above
The |goal |of |continuity |planning |is |to |prepare |for |a |disruption |before |it |strikes |so |that |you |can |
resume |normal |operation |as |quickly |as |possible.
TrueFalse |- |CORRECT |ANSWER✔✔-true
Which |of |the |following |is |true |of |disruption |scanning?
a. |Proactive |scanning |is |part |science; |that |is, |it |is |data |driven
b. |Proactive |scanning |is |part |art, |requiring |that |you |ask |"What |if |. |. |.?"
c. |Almost |all |disruptions |are |completely |unforeseeable—that's |why |you |do |continuity |planning
d. |All |of |the |above
e. |Only |A |& |B |- |CORRECT |ANSWER✔✔-only |A |& |B
What |is |the |primary |outcome |of |disruption |assessment?
a. |A |clear |understanding |of |all |of |the |risks |that |might |affect |your |operations
b. |A |set |of |priorities |to |help |you |effectively |use |resources |to |mitigate |risks
c. |A |pretty |heat |map
d. |All |of |the |above
