BUAD 331 EXAM #1 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
Which Statement best describes what a supply chain is?
A. the loose collection of companies that sell and buys products and services to
eachother
B. simple series of suppliers, manufacturers, and retailers that have no alignment
C. A chain of one-to-one business linkages that seeks to maximize the focus firm's
profits
D. A complex network of companies that work together to provide a good or service for
the end-use customer - Answers -D. A complex network of companies that work
together to provide a good or service for the end-use customer
According to the University of Tennessee's concept of the Integrated Supply Chain,
what lies at the center of the effort?
A. Logistics
B.Financial Performance
C. The customer experience
D. Net Promoter Score
E. The Integrated Enterprise - Answers -C. The customer experience
Which economic utilities are associated with supply chain management?
A. exchange, time, and value
B. form, exchange, and time
C. form, time, and place
D. form, time, and integration
E. exchange, time, and place - Answers -C. form, time, and place
A company that seeks to achieve competitive advantage by simultaneously maximizing
value and productivity advantages is said to pursue:
A. operational leadership
B. Cost leadership
C. Optimal customer value
D. leadership in form, time or place
E. an undifferentiated market position - Answers -C. Optimal customer value
T/F: While it is possible for supply chain performance to impact operational areas like
cost of sales and inventory, effective supply chain management can also favorably
impact revenue generation and customer loyalty - Answers -True
,Which supply chain metric is often monitored by senior supply chain executives, as it
helps illustrate the company's operational efficiency as reflected in payments coming
into the company relative to payments leaving to company?
A.Cash-to-cash cycle
B. account payable
c. net inventory value
d. account receivable
e. credit terms - Answers -A.Cash-to-cash cycle
The "Great Divide" in supply chain management occurs between:
A.demand-generating activities and demand-fulfilling activities
B. organizations and their customers
C. beggars and choosers
D. suppliers and manufacturers
E. sales and marketing activities - Answers -A. demand-generating activities and
demand-fulfilling activities
What process converts captivity plans into operational plans and demand forecasts into
demand plans?
A. master requirements planning
B. demand/supply integration
C. demand manipulation
D. aggregate production planning
E. supply base realignment - Answers -B. demand/supply integration
"Bending the chain" suggests:
A. integrating the source-make-deliver functions into a unified whole
B. bypassing certain levels of the supply chain to achieve greater efficiencies
C. avoiding suppliers that routinely fail to meet on-time/in-full delivery commitments
D. using disruptive technologies to realign the supply chain
E. turning customers into suppliers - Answers -A. integrating the source-make-deliver
functions into a unified whole
T/F: ensuring that all customers receive the same levels of service is essential to the
tailored customer value strategy - Answers -False
T/F: most businesses understand where they make money and lose money on
customer-by-customer basis with a high level of precision - Answers -False
What is supply chain? - Answers -- conceptualized networks of ecosystems inn which
products or services are created
- typically complex webs of interconnected entities, making it hard to have complete
visibility or understanding of the entire system
What are some of the components of a supply chain? - Answers -1. supplier base
-procurement
, -inbound logistics
2. Integrated enterprise
-MFG/SVC operations
- order fulfillment
3. Market/Distribution Network
-customer service/ after sales support
-outbound logistics
supply chain management refers to:
A. the management of upstream networks of suppliers
B. the delivery of goods and services to downstream customers
C. the collaboration between a company's operations and logistics functions
D. the integrated management of business functions within and across the ogranization
E. the procurement, movement, and storage of goods and services - Answers -D. the
integrated management of business functions within and across the organization
(all are technically components oof supply chain, but D is the most descriptive
What are the 4 ways organizations create value? - Answers -1. Plan
- determine and generate customer demand
-fulfill or supply customer demand
2. Source
- customer
3. Make
- demand
4. Deliver
- supply
How do you gain competitive advantage through SCM? - Answers -increasing value
advantage
-tailored service
-reliability
- responsiveness
- how am I pleasing my customers?
increasing productivity advantage
- capacity utilization
-asset turns
-integration
Hoow does SCM create value?
A. form, time, place
B. product, place, price, promotion
C. cost, asset, capacity, integration
D. responsiveness, productivity, reliability, delivery - Answers -A. form, time, place
ACCURATE ANSWERS
Which Statement best describes what a supply chain is?
A. the loose collection of companies that sell and buys products and services to
eachother
B. simple series of suppliers, manufacturers, and retailers that have no alignment
C. A chain of one-to-one business linkages that seeks to maximize the focus firm's
profits
D. A complex network of companies that work together to provide a good or service for
the end-use customer - Answers -D. A complex network of companies that work
together to provide a good or service for the end-use customer
According to the University of Tennessee's concept of the Integrated Supply Chain,
what lies at the center of the effort?
A. Logistics
B.Financial Performance
C. The customer experience
D. Net Promoter Score
E. The Integrated Enterprise - Answers -C. The customer experience
Which economic utilities are associated with supply chain management?
A. exchange, time, and value
B. form, exchange, and time
C. form, time, and place
D. form, time, and integration
E. exchange, time, and place - Answers -C. form, time, and place
A company that seeks to achieve competitive advantage by simultaneously maximizing
value and productivity advantages is said to pursue:
A. operational leadership
B. Cost leadership
C. Optimal customer value
D. leadership in form, time or place
E. an undifferentiated market position - Answers -C. Optimal customer value
T/F: While it is possible for supply chain performance to impact operational areas like
cost of sales and inventory, effective supply chain management can also favorably
impact revenue generation and customer loyalty - Answers -True
,Which supply chain metric is often monitored by senior supply chain executives, as it
helps illustrate the company's operational efficiency as reflected in payments coming
into the company relative to payments leaving to company?
A.Cash-to-cash cycle
B. account payable
c. net inventory value
d. account receivable
e. credit terms - Answers -A.Cash-to-cash cycle
The "Great Divide" in supply chain management occurs between:
A.demand-generating activities and demand-fulfilling activities
B. organizations and their customers
C. beggars and choosers
D. suppliers and manufacturers
E. sales and marketing activities - Answers -A. demand-generating activities and
demand-fulfilling activities
What process converts captivity plans into operational plans and demand forecasts into
demand plans?
A. master requirements planning
B. demand/supply integration
C. demand manipulation
D. aggregate production planning
E. supply base realignment - Answers -B. demand/supply integration
"Bending the chain" suggests:
A. integrating the source-make-deliver functions into a unified whole
B. bypassing certain levels of the supply chain to achieve greater efficiencies
C. avoiding suppliers that routinely fail to meet on-time/in-full delivery commitments
D. using disruptive technologies to realign the supply chain
E. turning customers into suppliers - Answers -A. integrating the source-make-deliver
functions into a unified whole
T/F: ensuring that all customers receive the same levels of service is essential to the
tailored customer value strategy - Answers -False
T/F: most businesses understand where they make money and lose money on
customer-by-customer basis with a high level of precision - Answers -False
What is supply chain? - Answers -- conceptualized networks of ecosystems inn which
products or services are created
- typically complex webs of interconnected entities, making it hard to have complete
visibility or understanding of the entire system
What are some of the components of a supply chain? - Answers -1. supplier base
-procurement
, -inbound logistics
2. Integrated enterprise
-MFG/SVC operations
- order fulfillment
3. Market/Distribution Network
-customer service/ after sales support
-outbound logistics
supply chain management refers to:
A. the management of upstream networks of suppliers
B. the delivery of goods and services to downstream customers
C. the collaboration between a company's operations and logistics functions
D. the integrated management of business functions within and across the ogranization
E. the procurement, movement, and storage of goods and services - Answers -D. the
integrated management of business functions within and across the organization
(all are technically components oof supply chain, but D is the most descriptive
What are the 4 ways organizations create value? - Answers -1. Plan
- determine and generate customer demand
-fulfill or supply customer demand
2. Source
- customer
3. Make
- demand
4. Deliver
- supply
How do you gain competitive advantage through SCM? - Answers -increasing value
advantage
-tailored service
-reliability
- responsiveness
- how am I pleasing my customers?
increasing productivity advantage
- capacity utilization
-asset turns
-integration
Hoow does SCM create value?
A. form, time, place
B. product, place, price, promotion
C. cost, asset, capacity, integration
D. responsiveness, productivity, reliability, delivery - Answers -A. form, time, place
