SUPPLY CHAIN TAITT EXAM 1 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS (2)
Question:
What are the goals of Supply Chain Management?
Answer:
Increase customer service and reduce inventory investment and operating
expenses
Question:
What are the 4 foundations of supply chain
management?
Answer:
Operations management, supply management, logistics management, and
integration
Question:
Operations Management
-Managing Internal Resources
Answer:
Forecasting and Demand Planning
Planning Systems
Inventory Management
Process Management
Question:
Supply Management
-Managing all of the supplies and suppliers that are
needed to run the business
Answer:
Purchasing Management
Strategic Sourcing
Supplier Relationship Management
Question:
Logistics Management
-Managing all of the movement and storage of products
and materials within the supply chain, whether the flow is
forward or reverse
Answer:
Warehousing & Distribution
Transportation
International Trade Management
Customer Relationship Management
Service Response Logistics
, Question:
Integration
-Managing all of the enabling systems necessary to
facilitate the complete integration of the operations,
supply, and logistics functions outlined above
Answer:
Enabling Systems
Supply Chain Risk and Security Management
Performance Measurement
Project Management
Question:
Push or Make-to-stock
Answer:
Producing stock on the basis of anticipated demand. Demand forecasting can be
done via a variety of sophisticated techniques.
Question:
Supply chain management starts with understanding the
flow
A. True
B. False
Answer:
A. True
Question:
It was intense global competition that led manufactures
to adopt Supply Chain Management (SCM) and other
practices such as Just-in-Time (JIT)
A. True
B. False
Answer:
A. True
Question:
The goal of Supply Chain Management is to increase
customer service by increasing inventory and reducing
costs.
A. True
B. False
Answer:
B. False
Question:
Service firms offer intangible products (meaning
products that cannot be physically touched), therefore,
they do not have a supply chain.
QUESTIONS AND CORRECT ANSWERS (2)
Question:
What are the goals of Supply Chain Management?
Answer:
Increase customer service and reduce inventory investment and operating
expenses
Question:
What are the 4 foundations of supply chain
management?
Answer:
Operations management, supply management, logistics management, and
integration
Question:
Operations Management
-Managing Internal Resources
Answer:
Forecasting and Demand Planning
Planning Systems
Inventory Management
Process Management
Question:
Supply Management
-Managing all of the supplies and suppliers that are
needed to run the business
Answer:
Purchasing Management
Strategic Sourcing
Supplier Relationship Management
Question:
Logistics Management
-Managing all of the movement and storage of products
and materials within the supply chain, whether the flow is
forward or reverse
Answer:
Warehousing & Distribution
Transportation
International Trade Management
Customer Relationship Management
Service Response Logistics
, Question:
Integration
-Managing all of the enabling systems necessary to
facilitate the complete integration of the operations,
supply, and logistics functions outlined above
Answer:
Enabling Systems
Supply Chain Risk and Security Management
Performance Measurement
Project Management
Question:
Push or Make-to-stock
Answer:
Producing stock on the basis of anticipated demand. Demand forecasting can be
done via a variety of sophisticated techniques.
Question:
Supply chain management starts with understanding the
flow
A. True
B. False
Answer:
A. True
Question:
It was intense global competition that led manufactures
to adopt Supply Chain Management (SCM) and other
practices such as Just-in-Time (JIT)
A. True
B. False
Answer:
A. True
Question:
The goal of Supply Chain Management is to increase
customer service by increasing inventory and reducing
costs.
A. True
B. False
Answer:
B. False
Question:
Service firms offer intangible products (meaning
products that cannot be physically touched), therefore,
they do not have a supply chain.
