SCM Chapter 1

Description

Business/Economics Quiz on SCM Chapter 1, created by Daniel Gonzalez on 20/02/2020.
Daniel Gonzalez
Quiz by Daniel Gonzalez, updated more than 1 year ago
Daniel Gonzalez
Created by Daniel Gonzalez over 4 years ago
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Resource summary

Question 1

Question
The first decade of the twenty-first century was a period of rapid change for organizations, especially businesses.
Answer
  • True
  • False

Question 2

Question
A key element in Wal-Mart’s ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system.
Answer
  • True
  • False

Question 3

Question
Globalization has had little effect on consumers.
Answer
  • True
  • False

Question 4

Question
Supply and demand has become less volatile as managers become more adept at controlling the elements.
Answer
  • True
  • False

Question 5

Question
Outsourcing is a fairly new concept.
Answer
  • True
  • False

Question 6

Question
SAB should examine their off-shore purchasing policy, even though the products are sourced from the U.S.
Answer
  • True
  • False

Question 7

Question
It is expected that some or all of the BRIC countries (Brazil, Russia, India & china) will replace the so-called VISTA countries (Vietnam, Indonesia, S. Africa, Turkey and Argentina) as low cost producers of various products and services.
Answer
  • True
  • False

Question 8

Question
The world economy still favors the United States and European countries, even though China and India can participate in the global economy much more readily.
Answer
  • True
  • False

Question 9

Question
It is predicted that social networks such as Facebook and Twitter will influence supply chains because of their impact on customer demand and the speed of information transfers.
Answer
  • True
  • False

Question 10

Question
The U.S. transportation system was deregulated in the 1930s and 1940s in response to economic conditions and World War 2
Answer
  • True
  • False

Question 11

Question
Even though there are references to supply chain management in the 1980s, SCM did not capture the attention of senior-level management until the 1990s.
Answer
  • True
  • False

Question 12

Question
Supply chain managers no longer need to worry about suboptimization in light of today’s technology.
Answer
  • True
  • False

Question 13

Question
Most retailers are essentially supply chain companies since
Answer
  • they dominate the consumer market.
  • own their warehouses and trucks.
  • they buy products produced by others.
  • engage in off-shore sourcing.

Question 14

Question
Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape?
Answer
  • Government policy
  • Technology
  • Environmental concerns
  • Globalization

Question 15

Question
Outsourcing involves
Answer
  • moving company facilities away from the home office.
  • hiring foreign nationals to manage parts of the business.
  • obtaining materials, parts, and products from other companies.
  • building a factory in another country.

Question 16

Question
Some individuals describe the current consumer as the “click here” generation because
Answer
  • we all have Internet access.
  • we no longer wait for information to be “pushed out” to us.
  • we buy so much merchandise on line.
  • we take little time to make purchasing decisions.

Question 17

Question
The demographics of our society has changed because
Answer
  • the “Baby Boom” generation is now turning 60.
  • of the increase in two-career families and single-parent households.
  • of immigration.
  • birth rates have changed.

Question 18

Question
The Supply Chain Concept
Answer
  • is very new and considered cutting edge technology.
  • is highly dependent of computerization.
  • is not always well understood by senior managers.
  • developed from the previous Physical Distribution concept.

Question 19

Question
Logistics, in its simplest form,
Answer
  • is a military term, as it was developed originally to supply the battlefield.
  • combines inbound logistics with the outbound logistics of physical distribution.
  • is another term for transportation management.
  • does not involve customer service or other related functions.

Question 20

Question
One of the major challenges of supply chain management is
Answer
  • forward buying.
  • maintaining the visibility of inventory.
  • building safety-stock inventory.
  • Pushing inventory back to vendors.
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