BUAD 331 EXAM 2 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
Operations Planning usually has a timeframe of ____________________ and is
focused on ______________________________________. - Answers -0 to 6 months
.... managers and technicians developing production schedules, loading schedules,
warehouse capacity, truck capacity, and even personal vacation plans
Utilization of advanced supply chain digital capability to drive total value. The two most
promising tools are: - Answers -Big data and artificial intelligence
Execution Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -0 to 1 month....the daily
transactions that implement the plans developed in other stages of the planning process
Business Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -3 to 18 months ....
cross-functional business processes such as demand-supply integration (DSI), sales &
operations planning (S&OP) and/or integrated business planning (IBP)
Supply chain planning is the forward-looking process of ______________ to
_____________________ through supply chain flows and activities. - Answers -
coordinating assets, resources, and information .... maximize customer and
organizational value creation
Strategic Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -6 to 36 months ....
analyzing and prioritizing the customer channels the organization will focus on for the
next year
Supply chain planners coordinate supply chain activities and transitions with the primary
purpose of delivering optimal levels of: - Answers -Customer service, inventory, and
cost
Design Planning usually has a timeframe of ____________________ and is focused
on______________________________________. - Answers -12 to 60 months ....
defining the most important steps a company needs to take in order to deliver long-term
shareholder value
While forecasts remain an important part of supply chain planning, benchmark
companies are working hard to ________________________________. - Answers -
Reduce their reliance on forecasts, especially forecasts with long time horizons
, T or F? As supply chains have become more complex, an increased number of multi-
functional business processes have been developed and implemented to improve top-
and bottom-line results of the enterprise. - Answers -TRUE
Planning out how our products will be shipped to our customers is called __________. -
Answers -Distribution Planning
Demand forecasts must include information on the... - Answers -Product, time, location
A monthly forecast on the county level could be further disaggregated as a... - Answers
-Weekly Forecast
You are a supply manager at a large U.S. bank and you are responsible for buying
marketing and creative services (advertising, etc.). The marketing services category
represents a substantial amount of procurement spend and the suppliers that compete
in this industry tend to have very different capabilities. Consider the Kraljic matrix and
classify this purchase. - Answers -Strategic Item
On Kraljic's matrix, the quadrant of "bottleneck" is the most challenging for purchasing
managers to deal with? In fact, it is recommended that you think of ways to shift these
items to other quadrants of the matrix. What is one purchasing tactic that might allow
you to do that? - Answers -Buying consortium, group together multiple buyers
Both objective and subjective measures are used to measure the performance of
suppliers. Which of the following are true regarding objective and subjective measures?
- Answers --Objective (Hard) Measures are quantitative
-Subjective (Soft) Measures are based on preference or judgment
-Subjective measures can be biased and dependent on the user.
When are supplier evaluation and selection decisions initiated? - Answers --In
response to requests from internal customers
-During the design and building of new facilities
-During new product development
-During routine market testing
Which of the following is generally NOT true about supply management and the bottom
line (net profit to the firm)? - Answers -A Euro increase in sales is equivalent to a Euro
in decrease in materials cost in impacting the bottom line
What is the best tactic purchasing can use in order to meet the material and support
needs of its internal customers? - Answers -Provide an uninterrupted flow of the
appropriate quality materials and services.
When thinking about price reductions what can purchasing do to achieve significant
price or cost savings and maintain the appropriate supplier relationship when buying
leverage items? - Answers -Supply Base Reduction
ACCURATE ANSWERS
Operations Planning usually has a timeframe of ____________________ and is
focused on ______________________________________. - Answers -0 to 6 months
.... managers and technicians developing production schedules, loading schedules,
warehouse capacity, truck capacity, and even personal vacation plans
Utilization of advanced supply chain digital capability to drive total value. The two most
promising tools are: - Answers -Big data and artificial intelligence
Execution Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -0 to 1 month....the daily
transactions that implement the plans developed in other stages of the planning process
Business Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -3 to 18 months ....
cross-functional business processes such as demand-supply integration (DSI), sales &
operations planning (S&OP) and/or integrated business planning (IBP)
Supply chain planning is the forward-looking process of ______________ to
_____________________ through supply chain flows and activities. - Answers -
coordinating assets, resources, and information .... maximize customer and
organizational value creation
Strategic Planning usually has a timeframe of ____________________ and is focused
on ______________________________________. - Answers -6 to 36 months ....
analyzing and prioritizing the customer channels the organization will focus on for the
next year
Supply chain planners coordinate supply chain activities and transitions with the primary
purpose of delivering optimal levels of: - Answers -Customer service, inventory, and
cost
Design Planning usually has a timeframe of ____________________ and is focused
on______________________________________. - Answers -12 to 60 months ....
defining the most important steps a company needs to take in order to deliver long-term
shareholder value
While forecasts remain an important part of supply chain planning, benchmark
companies are working hard to ________________________________. - Answers -
Reduce their reliance on forecasts, especially forecasts with long time horizons
, T or F? As supply chains have become more complex, an increased number of multi-
functional business processes have been developed and implemented to improve top-
and bottom-line results of the enterprise. - Answers -TRUE
Planning out how our products will be shipped to our customers is called __________. -
Answers -Distribution Planning
Demand forecasts must include information on the... - Answers -Product, time, location
A monthly forecast on the county level could be further disaggregated as a... - Answers
-Weekly Forecast
You are a supply manager at a large U.S. bank and you are responsible for buying
marketing and creative services (advertising, etc.). The marketing services category
represents a substantial amount of procurement spend and the suppliers that compete
in this industry tend to have very different capabilities. Consider the Kraljic matrix and
classify this purchase. - Answers -Strategic Item
On Kraljic's matrix, the quadrant of "bottleneck" is the most challenging for purchasing
managers to deal with? In fact, it is recommended that you think of ways to shift these
items to other quadrants of the matrix. What is one purchasing tactic that might allow
you to do that? - Answers -Buying consortium, group together multiple buyers
Both objective and subjective measures are used to measure the performance of
suppliers. Which of the following are true regarding objective and subjective measures?
- Answers --Objective (Hard) Measures are quantitative
-Subjective (Soft) Measures are based on preference or judgment
-Subjective measures can be biased and dependent on the user.
When are supplier evaluation and selection decisions initiated? - Answers --In
response to requests from internal customers
-During the design and building of new facilities
-During new product development
-During routine market testing
Which of the following is generally NOT true about supply management and the bottom
line (net profit to the firm)? - Answers -A Euro increase in sales is equivalent to a Euro
in decrease in materials cost in impacting the bottom line
What is the best tactic purchasing can use in order to meet the material and support
needs of its internal customers? - Answers -Provide an uninterrupted flow of the
appropriate quality materials and services.
When thinking about price reductions what can purchasing do to achieve significant
price or cost savings and maintain the appropriate supplier relationship when buying
leverage items? - Answers -Supply Base Reduction
