SCM 421 Final Exam
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 - 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 - 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 - 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 - 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 - Answer- quality risk
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