Global Logistics Exam 2

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Logistics managers can contribute to the success and benefit from involvement in supply chain management.

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Logistics decisions are only made on the tactical and operational level.

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Which Operational function does NOT pertain to logistics?

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Goals and objectives of individual supply chain participants don't need to be compatible with the goals and objectives of other participants.

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Successful Supply Chains ___________

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Which of the following is not a SCM process framework?

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Which of the following is NOT part of the Supply Chain Operations Reference Model (SCOR)?

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In regards to the SCOR model, which step involves logistics considerations

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Which of the following are enablers of Supply Chain Management Implementation?

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Information has affected customer power by allowing customers to become highly knowledgeable about and organization and its competitors and their products.

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Agile Supply Chains emphasize a speed and time component.

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The need for fast and agile supply chains resulted in some e-commerce firms to begin offering say-day delivery services in select markets.

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Which of the following is a quality of customer-centric supply chains?

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Which of the following is not part of a perfect order?

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A lean supply chain may be more appropriate when customer demand is volatile, and customer requirements for variety are high.

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Which term BEST defines the following approach?

Way to focus part of one’s supply chain on a timely response to fluctuating customer orders and/or product variety and another part of the supply chain on leveling out the planning requirements to smooth production output

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One aspect of inventory control that could be influenced by a lean approach is to move from a pattern of stops and starts to a continuous flow.

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Reduced inventory may decrease susceptibility (vulnerability) to natural disasters

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Which of the following is not a way to reduce the amount of inventory in the supply chain?

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Companies should consider employing a long-term as opposed to a short-term orientation with key supply chain members i.e. Suppliers, Customers, Intermediaries, Facilitators

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Relationship Structures: A long-term orientation tends to be predicated on which relational exchange?

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A Short-Term orientation tends to focus on transactional exchanges

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Which of the following are attributes of relational exchanges?

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Supply chain collaboration refers to cooperative relationships between members of a supply chain—formal or informal—between companies and their suppliers or customers, established to enhance the overall business performance of all parties

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Levels of Supply Chain Collaboration:

In a transactional relationship type, what is an example of data exchanged?

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Levels of Supply Chain Collaboration:

In a Tactical information sharing relationship type, what is an example of data exchanged?

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Levels of Supply Chain Collaboration:

In a Strategic relationship type, what is an example of data exchanged?

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Levels of Supply Chain Collaboration:

The following best defines which Supply Chain Collaboration relationship type?

"Integrate and automate the flow of information to align with product flow"

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The internet has no effect on inventories

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Any logistics activity not performed in-house is representative of third-party logistics

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Which of the following is true of a Fourth-party logistics provider (4PL)

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Globalization is a possible barrier to supply chain management

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Demand management can be defined as “the creation across the supply chain and its markets of a coordinated flow of demand.”

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Which of the following pertains to Demand (sales) forecasting?

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Which of the following is not a basic type of demand forecasting model?

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What basic type of demand forecasting model pertains to the following sentence?

"It’s appropriate for short term forecasting, or stable demand trends"

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The following characterizes which of the three basic types of demand forecasting models?

"This technique is very effective in considering external events like events promotion, pricing modifications, phase in/phase. Therefore, it’s appropriate for long-term forecasting"

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The moving average is a forecast that is the weighted average of previous demand (actual sales) and forecast levels.

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Which of the following is NOT a dimension of demand planning

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Demand Planning:

When using a Time-series technique, determining the forecast unit and level of aggregation is critical for the process.

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A time series demand planning technique will determine a forecast of units based on a time dimension, product dimension, customer dimension, and geography dimension.

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The introduction of computer forecasting software has completely eliminated forecast errors.

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In general, it does not matter what type of demand forecasting technique is used.

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The selection of forecasting technique(s) depends on only a select number of factors

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Which of the following is the best way to determine the best demand forecasting technique?

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Order management refers to management of the various activities associated with the order cycle

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Order cycle refers to management of the various activities associated with the order cycle

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The order to cash cycle is not included in an organization's order management model

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What best describes the "Order Cycle"

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How many stages are involved in the order cycle?

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Order Management

Which of the following is a stage of the order cycle?

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Order Management

___________ Refers to the time from when a customer places an order until the seller receives the order

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Order Managment

__________ Refers to the time from when the seller receives an order until an appropriate location (i.e. warehouse) is authorized to fill the order

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Order Management

The following steps describe which stage of the order cycle?

Checking for completeness and accuracy
A customer credit check
Order entry into the computer system
Marketing department credits salesperson
Accounting department records transaction
Inventory department locates nearest warehouse to customer and advises them to pick the order
Transportation department arranges for shipment

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Order Management

The following describes which stage of the order cycle?

Includes all activities from when an appropriate location is authorized to fill the order until goods are loaded aboard an outbound carrier

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Order Management

Order delivery often represents the best opportunity to improve the effectiveness and efficiency of an order cycle

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Order Management

Order picking and assembly can account for up to 2/3 of a facility's operating cost and time

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Order Management

Handheld scanners and/or Radio-frequency identification (RFID) are common technologies used in the order processing stage.

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Order Management

_____________ is the time from when a transportation carrier picks up the shipment until it is received by the customer.

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The variety of options in terms of transit time that are now available is a key delivery issue.

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Transportation carriers are revamping their operations to provide faster transit times to customers

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Customer service is simple for competitors to imitate

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Which of the following best describes the following definition?

“the ability of logistics management to satisfy users in terms of time, dependability, communication , and convenience.”

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Which of the following is NOT one of the four dimensions of customer service?

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_______________ Focuses on the ease of doing business with a seller

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The goal of communication in customer service is to keep the seller informed

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Managing Customer Service

Which of the following is NOT a specific customer service consideration

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Managing Customer Service

Objectives for establishing customer service should be specific, measurable, achievable, results-focused, and Time-Bound (S.M.A.R.T.)

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Managing Customer Service

Which of the following is NOT an objective for establishing customer service

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Managing Customer Service

A key issue regarding measuring customer service is determining data sources to be used.

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Managing Customer Service

Which of the following is NOT a key issue regarding measuring customer service?

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Managing Customer Service

"Perfect order" and "On-time delivery" are measures for which customer service dimension?

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Managing Customer Service

"Order cycle time" and "Inquiry response time" are measures for which customer service dimension?

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Managing Customer Service

"Customer complaints" and "Order status information" are measures for which customer service dimension?

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Managing Customer Service

"Return Process" and "Response to emergency situations" are measures for which customer service dimension?

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Managing Customer Service

"Perfect order" and "On-time delivery" are good measures for customer service dependability.

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Managing Customer Service

"Customer Complaints" and "Order status information" are good measures for customer service convenience.

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"Activity Based Costing (ABC)" is the allocation of revenues and costs to customer segments or individual customers to calculate the profitability of the segments or customers

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Customer Profitability Analysis (CPA) can help identify when an organization should pursue different logistical approaches for different customer groups.

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An early delivery is an example of an order-related service failure

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Which of the following is an example of an order related service failure?

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A Service Failure is a situation where actual performance does not meet the customer's expected performance

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Which of the following is NOT true of "Service Recovery"

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Service Recovery may lead to increases in customer loyalty

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Inventory refers to stocks of goods and materials that are maintained for many purposes, the most common being to satisfy normal demand patterns.

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Inventory management decisions don't differ for different functional areas of an organization.

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Cycle stock refers to inventory that is held to guard against uncertainty in demand or lead time

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Which of the following is NOT a reason to hold "Speculative Stock"

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Psychic stock is inventory carried to stimulate demand

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The following inventory classification refers to which of the following answer?

inventory that is en route between various fixed facilities in a logistics system such as a plant, warehouse, or store.

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The following inventory classification refers to which of the following answer?

refers to inventory that is held for several reasons, including seasonal demand, projected price increases, and potential shortages of a product.

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Buffer Stock refers to inventory that is held in addition to cycle stock to guard against uncertainty in demand or lead time.

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Base stock refers to inventory that is needed to satisfy normal demand during the course of an order cycle.

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Inventory costs in the twenty-first century represent approximately two-thirds of total logistics costs.

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Which of the following is NOT an inventory cost?

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Inventory carrying costs is the cost associated with holding inventory

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Stockout costs refer to those costs associated with ordering inventory, such as order costs and setup costs.

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Which of the following is an example of a cost associated with "Ordering Costs"

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Which of the following is an example of a "holding cost"

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Which of the following is an example of an "Order Cost"

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An increase in the number of orders leads to lower order costs but higher carrying costs

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Costs respond in opposite ways to the number of orders or size of orders

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Which of the following is the correct calculation for order costs?

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Which of the following is the correct calculation for Carrying costs?

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There is a Trade-Off between Carrying and Ordering Costs

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An increase in the number of orders leads to both higher order costs and higher carrying costs

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Stockout cost is an estimated cost or penalty that is realized when a company is out of stock when a customer wants to buy an item.

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Stockout costs don't involve a customer’s reaction to a company being out of stock.

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Which of the following is considered a "Stockout Cost"

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Which of the following types of customer is the most expensive in regards to stockout costs?

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The higher the probability of a delayed sale, the lower the average stockout costs and the lower the inventory that needs to be held by a company.

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The lower the average cost of a stockout, the better it is for the company to hold some amount of inventory (safety stock) to protect against stockouts.

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Higher inventory levels (higher carrying costs) result in lower chances of a stockout (lower stockout costs)

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Which of the following is NOT a quality of Lean Manufacturing?

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Which of the following describes a "fixed order quantity system?"

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In a Fixed order quantity system
The time interval may fluctuate while the order size also fluctuates

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In a Fixed order interval system: There is a higher stockout probability if sales increases quickly

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Economic order quantity (EOQ): Deals with calculating the proper order size with respect to two costs: Costs of carrying the inventory & Costs of the ordering the inventory

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The Economic Order Quantity (EOQ) Determines the point at which the sum of carrying costs and ordering costs is maximized, or the point at which carrying costs equal ordering costs

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In the Economic Order Quantity Equation (EOQ) the variable "B" stands for:

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In the Economic Order Quantity Equation (EOQ) the variable "I" stands for:

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Safety stock can prevent against two problem areas
Increased rate of demand
Longer-than-normal replenishment

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When fixed order quantity system like EOQ is used, time between orders stays constant

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ABC Analysis of Inventory
recognizes that inventories are not of equal value to a firm
as such all inventory should not be managed in the same way

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Dead inventory is a fourth category, D, to ABC analysis where D stands for “dogs”

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Complementary Products are products that can be used to fill the same need or wants as another product

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Which of the following is true of Vendor-Managed Inventory (VMI)?

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Lean Manufacturing has an Emphasis on low or no SS

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Service Parts Logistics is simple to forecast

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Which of the following is NOT a logistical consideration in achieving desired levels of supply chain performance?

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Which of the following is a way to address inventory turnover?

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Which of the following is NOT a logistics related problem pertaining to supply chain performance?

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Supply Chain Management is a new concept

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Consumers are merely recipients of supply chain activities

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Supply chain management does not need to be specifically managed by the organizations operating within the supply chain.

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The SCOR model involves all business functions.

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THE GSCF model involves all business functions.

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How many processes comprise the GSCF model?

Quiz am Global Logistics Exam 2, erstellt von Izumi Colquitt am 16/10/2018.

Global Logistics Exam 2

Logistics managers can contribute to the success and benefit from involvement in supply chain management.

Logistics decisions are only made on the tactical and operational level.

Which Operational function does NOT pertain to logistics?

Goals and objectives of individual supply chain participants don't need to be compatible with the goals and objectives of other participants.

Successful Supply Chains ___________

Which of the following is not a SCM process framework?

Which of the following is NOT part of the Supply Chain Operations Reference Model (SCOR)?

In regards to the SCOR model, which step involves logistics considerations

Which of the following are enablers of Supply Chain Management Implementation?

Information has affected customer power by allowing customers to become highly knowledgeable about and organization and its competitors and their products.

Agile Supply Chains emphasize a speed and time component.

The need for fast and agile supply chains resulted in some e-commerce firms to begin offering say-day delivery services in select markets.

Which of the following is a quality of customer-centric supply chains?

Which of the following is not part of a perfect order?

A lean supply chain may be more appropriate when customer demand is volatile, and customer requirements for variety are high.

Which term BEST defines the following approach? Way to focus part of one’s supply chain on a timely response to fluctuating customer orders and/or product variety and another part of the supply chain on leveling out the planning requirements to smooth production output

One aspect of inventory control that could be influenced by a lean approach is to move from a pattern of stops and starts to a continuous flow.

Reduced inventory may decrease susceptibility (vulnerability) to natural disasters

Which of the following is not a way to reduce the amount of inventory in the supply chain?

Companies should consider employing a long-term as opposed to a short-term orientation with key supply chain members i.e. Suppliers, Customers, Intermediaries, Facilitators

Which term BEST defines the following approach?

Way to focus part of one’s supply chain on a timely response to fluctuating customer orders and/or product variety and another part of the supply chain on leveling out the planning requirements to smooth production output

Levels of Supply Chain Collaboration:

In a transactional relationship type, what is an example of data exchanged?

Levels of Supply Chain Collaboration:

In a Tactical information sharing relationship type, what is an example of data exchanged?

Levels of Supply Chain Collaboration:

In a Strategic relationship type, what is an example of data exchanged?

Levels of Supply Chain Collaboration:

The following best defines which Supply Chain Collaboration relationship type?

"Integrate and automate the flow of information to align with product flow"

What basic type of demand forecasting model pertains to the following sentence?

"It’s appropriate for short term forecasting, or stable demand trends"

The following characterizes which of the three basic types of demand forecasting models?

"This technique is very effective in considering external events like events promotion, pricing modifications, phase in/phase. Therefore, it’s appropriate for long-term forecasting"