MKTG 372 Exam 1 Questions With
Correct Answers
Supply Chain - CORRECT ANSWER✔✔-Consists of all parties involved,
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directly or indirectly, in fulfilling a customer request. Constant flow of
| | | | | | | | | | |
information, product, and funds among different stages.
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Supply Chain Stages - CORRECT ANSWER✔✔-1) Customers 2) Retailers
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3) Wholesalers/distributors 4) Manufacturers 5) Component/raw
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material suppliers |
Value - CORRECT ANSWER✔✔-The difference between what the value
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of the final product is to the customer and the costs the entire supply
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chain incurs in filling the customer's request
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Supply Chain Surplus = - CORRECT ANSWER✔✔-Customer value - Supply
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chain cost
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Supply Chain Management - CORRECT ANSWER✔✔-The management
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of supply chain assets and product, information, and fund flows to grow
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the total supply chain surplus.
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, Logistics Management - CORRECT ANSWER✔✔-Management that
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plans, implements, and controls the efficient, effective forward and
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reverse flow and storage of goods, services and related information
| | | | | | | | | |
between the point of origin and the point of consumption in order to
| | | | | | | | | | | | |
meet customers' requirements.
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Decision Phases in a Supply Chain - CORRECT ANSWER✔✔-1) Supply
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chain strategy or design
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2) Supply chain planning
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3) Supply chain operation
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Supply Chain Strategy or Design - CORRECT ANSWER✔✔-A company
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decides how to structure the supply chain over the next several years;
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made for the long term and can be expensive to alter on short notice
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Supply Chain Planning - CORRECT ANSWER✔✔-The goal is to maximize
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the supply chain surplus that can be generated; the time frame is
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considered a quarter to a year and is short term
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Supply Chain Operation - CORRECT ANSWER✔✔-Companies make
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decisions regarding individual customer orders; the time frame is
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weekly or daily | |
Correct Answers
Supply Chain - CORRECT ANSWER✔✔-Consists of all parties involved,
| | | | | | | | |
directly or indirectly, in fulfilling a customer request. Constant flow of
| | | | | | | | | | |
information, product, and funds among different stages.
| | | | | |
Supply Chain Stages - CORRECT ANSWER✔✔-1) Customers 2) Retailers
| | | | | | | | |
3) Wholesalers/distributors 4) Manufacturers 5) Component/raw
| | | | | |
material suppliers |
Value - CORRECT ANSWER✔✔-The difference between what the value
| | | | | | | | |
of the final product is to the customer and the costs the entire supply
| | | | | | | | | | | | | |
chain incurs in filling the customer's request
| | | | | |
Supply Chain Surplus = - CORRECT ANSWER✔✔-Customer value - Supply
| | | | | | | | |
chain cost
| |
Supply Chain Management - CORRECT ANSWER✔✔-The management
| | | | | | |
of supply chain assets and product, information, and fund flows to grow
| | | | | | | | | | | |
the total supply chain surplus.
| | | |
, Logistics Management - CORRECT ANSWER✔✔-Management that
| | | | | |
plans, implements, and controls the efficient, effective forward and
| | | | | | | | |
reverse flow and storage of goods, services and related information
| | | | | | | | | |
between the point of origin and the point of consumption in order to
| | | | | | | | | | | | |
meet customers' requirements.
| |
Decision Phases in a Supply Chain - CORRECT ANSWER✔✔-1) Supply
| | | | | | | | | |
chain strategy or design
| | |
2) Supply chain planning
| | |
3) Supply chain operation
| | |
Supply Chain Strategy or Design - CORRECT ANSWER✔✔-A company
| | | | | | | | |
decides how to structure the supply chain over the next several years;
| | | | | | | | | | | |
made for the long term and can be expensive to alter on short notice
| | | | | | | | | | | | |
Supply Chain Planning - CORRECT ANSWER✔✔-The goal is to maximize
| | | | | | | | | |
the supply chain surplus that can be generated; the time frame is
| | | | | | | | | | | |
considered a quarter to a year and is short term
| | | | | | | | |
Supply Chain Operation - CORRECT ANSWER✔✔-Companies make
| | | | | | |
decisions regarding individual customer orders; the time frame is
| | | | | | | | |
weekly or daily | |
