Question 1

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,how many weeks of supply does the firm hold?

Accepted Answer

A)  12.50
B)  5.20
C)  2.60
D)  0.08
E)  4.16

Question 2

Which one of the following statements about purchasing is true?

Accepted Answer

A)  The cost of purchases as a percent of sales is often small.
B)  Purchasing provides a major opportunity for price increases.
C)  Purchasing is always more efficient than making an item.
D)  Purchasing has an impact on the quality of the goods and services sold.
E)  Competitive bidding is a major factor in long-term cost reductions.

Question 3

Describe some ways that effective supply-chain partners build and utilize mutual trust.

Accepted Answer

Members of the chain must enter into a r...

Question 4

Which of the following is not an opportunity for effective management in the supply chain?

Accepted Answer

A)  accurate "pull" data
B)  vendor-managed inventory
C)  postponement
D)  local optimization
E)  channel assembly

Question 5

Which distribution system is the fastest growing mode of shipping?

Accepted Answer

A)  railroads
B)  trucks
C)  airfreight
D)  waterways
E)  pipelines

Question 6

Describe vendor managed inventory (VMI).How is it related to outsourcing? Cite an example from your experiences as a shopper.

Accepted Answer

In vendor managed inventory,the supplier...

Question 7

The "bullwhip" effect

Accepted Answer

A)  occurs as orders are relayed from retailers to wholesalers.
B)  results in increasing fluctuations at each step of the sequence.
C)  increases the costs associated with inventory in the supply chain.
D)  occurs because of distortions in information in the supply chain.
E)  all of the above.

Question 8

With the growth of just-in-time practices,railroads have made large gains in the share of the nation's transport that they haul.

Accepted Answer

A) True 
 B)False

Question 9

Local optimization is a supply-chain complication best described as

Accepted Answer

A)  optimizing one's local area without full knowledge of organizational needs.
B)  obtaining very high production efficiency in a decentralized supply chain.
C)  the prerequisite of global optimization.
D)  the result of supply chains built on suppliers with compatible corporate cultures.
E)  the opposite of the bullwhip effect.

Question 10

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,what is the inventory turnover?

Accepted Answer

A)  12.50
B)  10.00
C)  42.00
D)  4.16
E)  20.00

Question 11

The key to effective supply-chain management is to get many suppliers to compete with each other,in order to drive down prices.

Accepted Answer

A) True 
 B)False

Question 12

A company is about to select a vendor for the outsourcing of all of its engineering,environmental,and CAD requirements.It has identified four criteria critical to the selection.These criteria,and their importance weights,appear below.Three firms,A,C,and E,have indicated that they are interested in this position.The company has scored each of the three candidates on these criteria,using a 1-10 scale,where 10 is best.Candidate A scored 7,7,7,and 5 on the four criteria.Candidate C scored 9,4,8,and 6.Candidate E scored 5,10,10,and 7.Which vendor has the highest composite score?

Accepted Answer

The answer of A company is about to select a...

Question 13

________ is a Japanese term to describe suppliers who become part of a company coalition.

Accepted Answer

The answer of ________ is a Japanese term to describe...

Question 14

Which of the following is an advantage of the postponement technique?

Accepted Answer

A)  reduction in automation
B)  early customization of the product
C)  better quality of the product
D)  reduction in training costs
E)  reduction in inventory investment

Question 15

Name three common things that contribute to distortion of information about the supply chain.

Accepted Answer

The occurrences include local ...

Question 16

Which of the following is not an advantage of the "few suppliers" concept?

Accepted Answer

A)  suppliers' willingness to participate in JIT systems
B)  trust
C)  vulnerability of trade secrets
D)  creation of value by allowing suppliers to have economies of scale
E)  suppliers' willingness to provide technological expertise

Question 17

Developing long-term,"partnering" relationships with a few suppliers is a long-standing American purchasing strategy.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following best describes vertical integration?

Accepted Answer

A)  to sell products to a supplier or a distributor
B)  to develop the ability to produce products which complement the original product
C)  to produce goods or services previously purchased
D)  to develop the ability to produce the specified good more efficiently than before
E)  to build long-term partnerships with a few suppliers

Question 19

A fried chicken fast-food chain that acquired feed mills and poultry farms has performed

Accepted Answer

A)  horizontal integration.
B)  forward integration.
C)  backward integration.
D)  current transformation.
E)  job expansion.

Question 20

When Daimler and BMW pooled resources to develop standardized auto components the supply-chain strategy could best be described by

Accepted Answer

A)  keiretsu.
B)  virtual companies.
C)  joint venture.
D)  vertical integration.
E)  few suppliers.

Exam 11: Supply-Chain Management

________ is a Japanese term to describe suppliers who become part of a company coalition.

Correct Answer
verified

Which of the following is not an opportunity for effective management in the supply chain?

Correct Answer
verified

Correct Answer
verified

Which of the following is an advantage of the postponement technique?

Correct Answer
verified

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,what is the inventory turnover?

Correct Answer
verified

Which of the following is not an advantage of the "few suppliers" concept?

Correct Answer
verified

When Daimler and BMW pooled resources to develop standardized auto components the supply-chain strategy could best be described by

Correct Answer
verified

Name three common things that contribute to distortion of information about the supply chain.

Correct Answer
verified
The occurrences include local ...
View Answer

Local optimization is a supply-chain complication best described as

Correct Answer
verified

Which of the following best describes vertical integration?

Correct Answer
verified

Which one of the following statements about purchasing is true?

Correct Answer
verified

Developing long-term,"partnering" relationships with a few suppliers is a long-standing American purchasing strategy.

Correct Answer
verified

The key to effective supply-chain management is to get many suppliers to compete with each other,in order to drive down prices.

Correct Answer
verified

Describe some ways that effective supply-chain partners build and utilize mutual trust.

Correct Answer
verified
Members of the chain must enter into a r...
View Answer

Describe vendor managed inventory (VMI).How is it related to outsourcing? Cite an example from your experiences as a shopper.

Correct Answer
verified
In vendor managed inventory,the supplier...
View Answer

A fried chicken fast-food chain that acquired feed mills and poultry farms has performed

Correct Answer
verified

With the growth of just-in-time practices,railroads have made large gains in the share of the nation's transport that they haul.

Correct Answer
verified

The "bullwhip" effect

Correct Answer
verified

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,how many weeks of supply does the firm hold?

Correct Answer
verified

Which distribution system is the fastest growing mode of shipping?

Correct Answer
verified

Exam 11: Supply-Chain Management

________ is a Japanese term to describe suppliers who become part of a company coalition.

Correct AnswerverifiedShow Answer

Which of the following is not an opportunity for effective management in the supply chain?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is an advantage of the postponement technique?

Correct AnswerverifiedShow Answer

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,what is the inventory turnover?

Correct AnswerverifiedShow Answer

Which of the following is not an advantage of the "few suppliers" concept?

Correct AnswerverifiedShow Answer

When Daimler and BMW pooled resources to develop standardized auto components the supply-chain strategy could best be described by

Correct AnswerverifiedShow Answer

Name three common things that contribute to distortion of information about the supply chain.

Correct AnswerverifiedThe occurrences include local ...View AnswerShow Answer

Local optimization is a supply-chain complication best described as

Correct AnswerverifiedShow Answer

Which of the following best describes vertical integration?

Correct AnswerverifiedShow Answer

Which one of the following statements about purchasing is true?

Correct AnswerverifiedShow Answer

Developing long-term,"partnering" relationships with a few suppliers is a long-standing American purchasing strategy.

Correct AnswerverifiedShow Answer

The key to effective supply-chain management is to get many suppliers to compete with each other,in order to drive down prices.

Correct AnswerverifiedShow Answer

Describe some ways that effective supply-chain partners build and utilize mutual trust.

Correct AnswerverifiedMembers of the chain must enter into a r...View AnswerShow Answer

Describe vendor managed inventory (VMI).How is it related to outsourcing? Cite an example from your experiences as a shopper.

Correct AnswerverifiedIn vendor managed inventory,the supplier...View AnswerShow Answer

A fried chicken fast-food chain that acquired feed mills and poultry farms has performed

Correct AnswerverifiedShow Answer

With the growth of just-in-time practices,railroads have made large gains in the share of the nation's transport that they haul.

Correct AnswerverifiedShow Answer

The "bullwhip" effect

Correct AnswerverifiedShow Answer

Consider a firm with a 2012 net income of $20 million,revenue of $60 million and cost of goods sold of $25 million.If the balance sheet amounts show $2 million of inventory and $500,000 of property,plant & equipment,how many weeks of supply does the firm hold?

Correct AnswerverifiedShow Answer

Which distribution system is the fastest growing mode of shipping?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The occurrences include local ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Members of the chain must enter into a r...
View Answer

Correct Answer
verified
In vendor managed inventory,the supplier...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified