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Chapter 13 MKTNG

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Savvy Individuals
Quiz by Savvy Individuals, updated more than 1 year ago
Savvy Individuals
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Question 1

Question
A large firm in the automotive aftermarket business wants to improve its current situation, which is characterized by excess inventory, incomplete information, high logistics costs, slow reactions to environmental change, and loss of profits at the retail level. Will supply chain management be of any help to the business?
Answer
  • Yes, supply chain management is designed to coordinate and integrate all the activities from raw materials to product consumption.
  • No, supply chain management is only applicable to distribution strategies for products being sold in the business market.
  • Yes, supply chain management, unlike other management philosophies, is not customer-driven.
  • No, supply chain management requires an extensive investment in time and resources to make it worthwhile.

Question 2

Question
Which of the following is an advantage of using customer care software?
Answer
  • It helps eliminate the process of customer relationship management.
  • It reduces the interactions between companies and their customers.
  • It helps adjust the speed of the assembly line to match customer demand.
  • It enables companies to enhance their customer service management process.

Question 3

Question
Sustainable supply chain management primarily involves:
Answer
  • focusing on how to reduce interactions among suppliers, manufacturers, and end users.
  • emphasizing short-term initiatives to preserve resources for the next production cycle.
  • the use of the least expensive manufacturing, materials-handling, and transportation systems as part of the supply chain management process.
  • the integration and balancing of environmental, social, and economic thinking into all phases of the supply chain management process.

Question 4

Question
An effective materials-handling system:
Answer
  • increases the number of stages and participants in the supply chain.
  • moves inventory into, within, and out of a warehouse quickly with minimal handling.
  • helps firms maintain their inventory at the highest levels possible.
  • enables firms to increase the number of people handling their raw materials, supplies, and components.

Question 5

Question
Which of the following is true of supplier relationship management?
Answer
  • The supplier relationship management process has no impact on any supply chain member's bottom-line financial performance.
  • It helps suppliers and business units to operate with limited or no interactions.
  • It supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers.
  • The supplier relationship management process has nothing in common with the customer relationship management process.

Question 6

Question
DutiLog is a firm that specializes in providing warehousing, order processing, and transporting solutions to a diverse group of firms. Firms contract DutiLog to manage a part or most of their order fulfillment process. Thus, DutiLog is an example of a:
Answer
  • mediator.
  • third-party logistics company.
  • federal administrative agency.
  • job shop.

Question 7

Question
By working closely with its clients and understanding their needs, A Plus Z has improved its service encounter to a level that was not thought possible in mass retailing. Which of the eight critical business processes performed by supply chain managers does this best illustrate?
Answer
  • Manufacturing flow management
  • Customer service management
  • Demand management
  • Returns management

Question 8

Question
The goal of most supply management activities is to:
Answer
  • reduce the costs of raw materials and supplies.
  • engage a segment of customers who might not purchase the product otherwise.
  • eliminate other significant management activities.
  • limit the interactions between firms and their suppliers.

Question 9

Question
Which of the following is true of supply chain agility?
Answer
  • It helps companies limit the resources they spend on activities that create direct customer benefits.
  • It seeks to reduce the interactions between a company and its suppliers and service providers.
  • It enables a company to offer better customer service but at an increased supply chain cost.
  • It allows companies to adapt quickly and easily to customer needs.

Question 10

Question
Specialty Blades designs precision cutting devices for varied applications. A recent project involved the company working closely with a medical device company to develop a combination scalpel and stapler that makes precise cuts on the tissue and staples closely, which results in less traumatic procedures and quicker patient recoveries. This is an example of which of the eight critical processes performed by supply chain managers?
Answer
  • Supplier relationship management
  • Returns management
  • Product development and commercialization
  • Order fulfillment

Question 11

Question
Which of the following is a disadvantage of using a manual, non-automated materials-handling system?
Answer
  • Increases risk of damage
  • Decreases product handling
  • Lowers customer stockouts
  • Increases time utility

Question 12

Question
Which of the following is a primary function of the product development and commercialization process?
Answer
  • It seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level.
  • It deals with ensuring that firms in the supply chain have the required resources to manufacture with flexibility.
  • It deals with situations in which customers choose to return a product to the retailer or supplier, thereby creating a reverse flow of goods within the supply chain.
  • It includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms.

Question 13

Question
Soul Tech, a consumer electronics company, has suffered substantial losses while moving products from the assembly line to the warehouse and shipping docks. Soul Tech should consider reducing the number of times an item is moved in the warehouse by installing a(n):
Answer
  • flexible manufacturing system.
  • materials-handling system.
  • contract manufacturing system.
  • outsourcing system.

Question 14

Question
A similarity between the customer relationship management process and supplier relationship management process is that both:
Answer
  • provide structural support for developing and maintaining relationships with their respective supply chain partners.
  • ensure that relationally integrated supply chains operate in an environment that has no set rules or procedures.
  • fail to directly impact a firm's profitability and its ability to commercialize new offerings.
  • eliminate the manufacturing flow management process within companies by removing unnecessary steps in the supply chain.

Question 15

Question
A similarity between materials requirement planning (MRP) and distribution resource planning (DRP) is that both inventory systems:
Answer
  • require the manufacturer to keep inventory levels as high as possible.
  • help manage inventory from manufacturer to end user rather than from the suppliers to the manufacturer.
  • use various inputs, such as sales forecasts, available inventory, and so on, to determine what needs to be done to replenish goods at all points in the supply chain.
  • prohibit the use of buffer stocks as insurance against unexpected demand increases.

Question 16

Question
The goal of inventory management is to:
Answer
  • minimize inventory levels while maintaining an adequate supply of goods to meet customer demands.
  • maintain the highest possible inventory of raw materials and finished goods as buffer stocks.
  • act as an alternative to supply chain management in firms.
  • create regular customer stockouts so that the demand for products increases.

Question 17

Question
A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing, is called:
Answer
  • outsourcing.
  • mediation.
  • intermediary distribution.
  • benchmarking.

Question 18

Question
Which of the following is a primary function of relationship integration in providing top-level service to customers?
Answer
  • It requires several individual companies or business units to act in isolation in order to offer superior service to customers.
  • It creates performance assessments that help measure the performance of the supply chain as a whole without holding each individual firm or business unit accountable for meeting its goals.
  • It includes the ways in which two or more companies will collaborate on activities or projects so that a customer gains the maximum amount of total value possible from the supply chain.
  • It involves the creation and maintenance of information technology systems that help managers across the firms in the supply chain function independently from one another.

Question 19

Question
Which of the following is an advantage of supply chain management to companies?
Answer
  • Reduced operational flexibility
  • Improved customer service
  • Reduced interactions between companies and their suppliers
  • Increased ability to perform in isolation

Question 20

Question
In a build-to-order environment, the transportation network:
Answer
  • moves inventory into, within, and out of a warehouse quickly with minimal handling.
  • eliminates the expense of storing inventories.
  • helps maintain a high level of buffer stock in the warehouse.
  • increases the number of participants in the supply chain.

Question 21

Question
Which of the following is a primary function of materials management?
Answer
  • It enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain.
  • It orchestrates the movement of goods, services, information, and other materials from manufacturer to end user.
  • It includes the group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms.
  • It encompasses the sourcing and procurement operations, signaling when raw materials will need to be replenished for the production of more goods.

Question 22

Question
Lina and her friends decide to watch a movie at Lina’s house. They watch the movie online on MovieStop.com. This business model is an example of _____.
Answer
  • outsourcing
  • nearshoring
  • electronic distribution
  • mass customization

Question 23

Question
_____ is any potential disruption that threatens a supply chain’s efficient and effective operations.
Answer
  • Supply chain integration
  • Supply chain resiliency
  • Supply chain sustenance
  • Supply chain risk

Question 24

Question
Brewdom, a leading multinational beverage corporation, has teamed up with Wealth from Waste to develop a plan to improve the reverse logistics of used beverage bottles for recycle and reuse. Together, Brewdom and Wealth from Waste have plans to deploy thousands of “Recycle Machines” in both permanent and temporary locations that will take empty bottles and provide rewards to consumers who participate. These companies are practicing _____.
Answer
  • sustainable supply chain management
  • flexible manufacturing
  • contract manufacturing
  • just-in-time inventory management
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