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SCMN 3710 Exam 1 (Strickland) Questions With Complete Solutions

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What external change drivers have had the most impact on the development of global supply chains in the 21st century? correct answer: a. Technology Describe the evolution from the physical distribution concept of the 1960s to the integrated logistics concept of the 1980s to the supply chain concept of today correct answer: a. Supply chains are extended enterprises which require managing four flows—products, information, financials (cash), and demand on a collaborative basis. What is meant by extended enterprise? correct answer: is a loosely coupled, self-organizing network of firms that combine their economic output to provide products and services offerings to the market What are the 3 two-way supply chain flows (not demand)? correct answer: a. PRODUCT FLOW i. Physical movement of goods and materials b. INFORMATION FLOW i. Enabling physical flow of products ii. Decision making iii. Supply chain collaborations c. CASH FLOW i. Management of working capital Which retailer was #1 in sales in 2017 (as well as 2000 & 2010)? correct answer: a. Walmart Explain how absolute advantage and co

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