SCMN 3710 EXAM #1Q’S & A’S
The fundamental role of a manager is the finite assignment of ___ to ___. - Answer-
Resources, tasks
Two primary economic elements driving the rapid increase in global trade over the
last 50 years are - Answer- Increased availability of info and reduced transportation
costs
The desired outcome (focus) of decisions made about supply chain trade offs is to -
Answer- Drive the CSL/TC ratio higher
An overall measure of logistics system performance that allows for better global
decision making among various trade offs is the "bang/buck" ratio or the - Answer-
Customer service level per total logistics cost
Most retailers are essentially supply chain companies since - Answer- They buy
products produced by others
The challenge to develop and sustain efficient and effective supply chains requires
organizations to address a number of issues. Which is not included? - Answer-
Inventory carrying costs
Complexity in the supply chain is caused by - Answer- All of these answers
(locations of customers and suppliers, transportation requirements, the number or
SKUs)
One of the major challenges of supply chain MNGT is - Answer- Maintaining the
visibility of inventory
Logistics creates which utility through production forecasting, production scheduling,
and inventory control? - Answer- Quantity utility
What technology has helped make the physical inventory-taking process more
efficient and effective? - Answer- scanning of bar-coded RFID tags
Ensuring the availability of the right product, in the right quantity, and the right
condition, at the right place, at the right time, for the right consumer at the right cost,
is which definition of logistics? - Answer- Seven Rs
Which of the answers below is an example of the creation of form utility by a logistics
activity? - Answer- The breaking bulk and repackaging at a distribution center
The value that is added to foods through a manufacturing or assembly process is: -
Answer- Form utility
Goods can be stored in a bonded warehouse - Answer- For up to 3 years
, Focused production is - Answer- A strategy in which a given plant produces one or
two items of the company's total product line
Globalization was initially driven by countries - Answer- Seeking materials and goods
not available in their own land
Which condition must be present before motor carriers and rail carriers can be used
for international shipments? - Answer- The shipment must be between adjacent
countries
Which of these is not one of the top three departure ports for the cruise industry? -
Answer- Cape Liberty, New Jersey
Vertical collaboration refers to - Answer- Collaboration among buyers and sellers in
the supply chain
A third party logistics firm may be defined as - Answer- An external supplier that
performs or manages all or part of a company's logistics functions
Approximately two-thirds of 3PL customers think their providers supply - Answer-
Tactical or operational services
Gross margin equals - Answer- Sales minus COGS
Channel structure MNGT includes decisions regarding the use of outsourcing,
channel inventories, ____, and channel structure - Answer- Information systems
In the SCOR Model there are 5 major categories of metrics that need to be used to
measure the performance of Process D1: reliability, ___, agility, costs, and asset
MNGT - Answer- Responsiveness
Scorecard and key performance indicators (KPIs) refer to - Answer- Metrics to
manage logistics operations
Which of the following is NOT one of the three main macroeconomic forces driving
the explosive growth in international trade since 1944: - Answer- Time and place
utility
The primary Key Performance Indicators (KPIs) for supply chain managers are -
Answer- Total cost, customer service level, and CSL/TC
The "most efficient frontier" on the TC-CSL graph is the line along which - Answer-
Costs are at the theoretical minimum for a given level of customer service
The "value proposition" that must be satisfied for the "invisible hand" to move goods
from areas of surplus to areas of shortage holds that the __ must be __ the __. -
Answer- Change in total value, greater than, change in total cost
Which of the following is not part of the supply chain network - Answer- Stores
The fundamental role of a manager is the finite assignment of ___ to ___. - Answer-
Resources, tasks
Two primary economic elements driving the rapid increase in global trade over the
last 50 years are - Answer- Increased availability of info and reduced transportation
costs
The desired outcome (focus) of decisions made about supply chain trade offs is to -
Answer- Drive the CSL/TC ratio higher
An overall measure of logistics system performance that allows for better global
decision making among various trade offs is the "bang/buck" ratio or the - Answer-
Customer service level per total logistics cost
Most retailers are essentially supply chain companies since - Answer- They buy
products produced by others
The challenge to develop and sustain efficient and effective supply chains requires
organizations to address a number of issues. Which is not included? - Answer-
Inventory carrying costs
Complexity in the supply chain is caused by - Answer- All of these answers
(locations of customers and suppliers, transportation requirements, the number or
SKUs)
One of the major challenges of supply chain MNGT is - Answer- Maintaining the
visibility of inventory
Logistics creates which utility through production forecasting, production scheduling,
and inventory control? - Answer- Quantity utility
What technology has helped make the physical inventory-taking process more
efficient and effective? - Answer- scanning of bar-coded RFID tags
Ensuring the availability of the right product, in the right quantity, and the right
condition, at the right place, at the right time, for the right consumer at the right cost,
is which definition of logistics? - Answer- Seven Rs
Which of the answers below is an example of the creation of form utility by a logistics
activity? - Answer- The breaking bulk and repackaging at a distribution center
The value that is added to foods through a manufacturing or assembly process is: -
Answer- Form utility
Goods can be stored in a bonded warehouse - Answer- For up to 3 years
, Focused production is - Answer- A strategy in which a given plant produces one or
two items of the company's total product line
Globalization was initially driven by countries - Answer- Seeking materials and goods
not available in their own land
Which condition must be present before motor carriers and rail carriers can be used
for international shipments? - Answer- The shipment must be between adjacent
countries
Which of these is not one of the top three departure ports for the cruise industry? -
Answer- Cape Liberty, New Jersey
Vertical collaboration refers to - Answer- Collaboration among buyers and sellers in
the supply chain
A third party logistics firm may be defined as - Answer- An external supplier that
performs or manages all or part of a company's logistics functions
Approximately two-thirds of 3PL customers think their providers supply - Answer-
Tactical or operational services
Gross margin equals - Answer- Sales minus COGS
Channel structure MNGT includes decisions regarding the use of outsourcing,
channel inventories, ____, and channel structure - Answer- Information systems
In the SCOR Model there are 5 major categories of metrics that need to be used to
measure the performance of Process D1: reliability, ___, agility, costs, and asset
MNGT - Answer- Responsiveness
Scorecard and key performance indicators (KPIs) refer to - Answer- Metrics to
manage logistics operations
Which of the following is NOT one of the three main macroeconomic forces driving
the explosive growth in international trade since 1944: - Answer- Time and place
utility
The primary Key Performance Indicators (KPIs) for supply chain managers are -
Answer- Total cost, customer service level, and CSL/TC
The "most efficient frontier" on the TC-CSL graph is the line along which - Answer-
Costs are at the theoretical minimum for a given level of customer service
The "value proposition" that must be satisfied for the "invisible hand" to move goods
from areas of surplus to areas of shortage holds that the __ must be __ the __. -
Answer- Change in total value, greater than, change in total cost
Which of the following is not part of the supply chain network - Answer- Stores
