Question 1

One classic type of negotiation strategy is the market-based price model.

Accepted Answer

A) True 
 B)False

Question 2

Improvements in security, especially regarding the millions of shipping containers that enter the U.S. each year, are being held back by the lack of technological advances.

Accepted Answer

A) True 
 B)False

Question 3

Supply chain managers outsource logistics to meet what three goals?

Accepted Answer

(1) drive down inventory inves

Question 4

A reverse auction involves the processes for sending returned products back up the supply chain for resale, repair, reuse, remanufacture, recycling, or disposal.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is NOT an advantage of virtual companies?

Accepted Answer

A)  low capital investment 
B)  flexibility 
C)  respond rapidly to the market 
D)  no overhead expenses 
E)  lean performance 
A)  low capital investment 
B)  flexibility 
C)  respond rapidly to the market 
D)  no overhead expenses 
E)  lean performance

Question 6

Vertical integration appears particularly advantageous when the organization has:

Accepted Answer

A)  a very specialized product. 
B)  a large market share. 
C)  a very common, undifferentiated product. 
D)  little experience operating an acquired vendor. 
E)  purchases that are a relatively small percent of sales. 
A)  a very specialized product. 
B)  a large market share. 
C)  a very common, undifferentiated product. 
D)  little experience operating an acquired vendor. 
E)  purchases that are a relatively small percent of sales.

Question 7

________ rely on a variety of supplier relationships to provide services on demand.

Accepted Answer

The answer of ________ rely on a variety of supplier...

Question 8

Hewlett-Packard delays customization of its laser printers as long as possible. This is an example of which of the following?

Accepted Answer

A)  vendor-managed inventory 
B)  standardization 
C)  backward integration 
D)  postponement 
E)  timely customization 
A)  vendor-managed inventory 
B)  standardization 
C)  backward integration 
D)  postponement 
E)  timely customization

Question 9

A company is deciding where to assign its summer intern. The manager estimates that the intern can save $10,000 in the supply chain or increase sales (revenue) by $20,000. Given the following table, where should the manager assign the intern to maximize profits?

Accepted Answer

The intern would save $10,000 in the sup

Question 10

Which of the following is NOT a condition that favors the success of vertical integration?

Accepted Answer

A)  availability of capital 
B)  availability of managerial talent 
C)  sufficiently high demand 
D)  small market share 
E)  All of these favor the success of vertical integration. 
A)  availability of capital 
B)  availability of managerial talent 
C)  sufficiently high demand 
D)  small market share 
E)  All of these favor the success of vertical integration.

Question 11

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

Accepted Answer

A)  suppliers 
B)  distributors 
C)  wholesalers 
D)  retailers 
E)  landscaping contractors 
A)  suppliers 
B)  distributors 
C)  wholesalers 
D)  retailers 
E)  landscaping contractors

Question 12

What is the practice of keeping a product generic as long as possible before customizing?

Accepted Answer

A)  postponement 
B)  keiretsu 
C)  vendor-managed inventory 
D)  forward integration 
E)  backward integration 
A)  postponement 
B)  keiretsu 
C)  vendor-managed inventory 
D)  forward integration 
E)  backward integration

Question 13

What is a keiretsu?

Accepted Answer

A keiretsu is a network of suppliers who

Question 14

Define EDI.

Accepted Answer

Electronic data interchange is

Question 15

Which of the following is NOT true about reverse logistics as compared to forward logistics?

Accepted Answer

A)  Inventory management is consistent. 
B)  Distribution costs are less directly visible. 
C)  Pricing is dependent upon many factors. 
D)  Speed is often not a priority. 
E)  Forecasting is more uncertain. 
A)  Inventory management is consistent. 
B)  Distribution costs are less directly visible. 
C)  Pricing is dependent upon many factors. 
D)  Speed is often not a priority. 
E)  Forecasting is more uncertain.

Question 16

The Japanese concept of a company coalition of suppliers is:

Accepted Answer

A)  poka-yoke. 
B)  kaizen. 
C)  keiretsu. 
D)  dim sum. 
E)  illegal. 
A)  poka-yoke. 
B)  kaizen. 
C)  keiretsu. 
D)  dim sum. 
E)  illegal.

Question 17

Distribution management focuses on which of the following?

Accepted Answer

A)  the outbound flow of products 
B)  incoming materials 
C)  allocation of demand among suppliers 
D)  setting dividend rates 
E)  balancing an assembly line 
A)  the outbound flow of products 
B)  incoming materials 
C)  allocation of demand among suppliers 
D)  setting dividend rates 
E)  balancing an assembly line

Question 18

The following data are pulled from a recent Walsh Manufacturing annual report.
Assets
Raw material inventory $150,000
Work-in-process inventory $50,000
Finished goods inventory $330,000
Property, plant & equipment $500,000
Other assets $140,000
Total assets $1,170,000
Condensed Income Statement
Revenue $2,000,000
Cost of goods sold $700,000
Other expenses $1,000,000
Net income $300,000
Calculate: (a) Percentage invested in inventory, (b) Inventory turnover, and (c) Weeks of supply.

Accepted Answer

(a) Percentage invested in inventory = (

Question 19

Which of the following statements does NOT accurately explain what occurs when the number of facilities in a distribution network increases?

Accepted Answer

A)  response time decreases 
B)  profit first increases, then decreases 
C)  total logistics costs first decrease, then increase 
D)  inventory costs increase 
E)  response time first decreases, then increases 
A)  response time decreases 
B)  profit first increases, then decreases 
C)  total logistics costs first decrease, then increase 
D)  inventory costs increase 
E)  response time first decreases, then increases

Question 20

As the number of facilities in a distribution network increases, profit tends to follow a curve that first declines, then rises.

Accepted Answer

A) True 
 B)False

Exam 10: Supply Chain Management

One classic type of negotiation strategy is the market-based price model.

Improvements in security, especially regarding the millions of shipping containers that enter the U.S. each year, are being held back by the lack of technological advances.

Supply chain managers outsource logistics to meet what three goals?

A reverse auction involves the processes for sending returned products back up the supply chain for resale, repair, reuse, remanufacture, recycling, or disposal.

Which of the following is NOT an advantage of virtual companies?

Vertical integration appears particularly advantageous when the organization has:

________ rely on a variety of supplier relationships to provide services on demand.

Hewlett-Packard delays customization of its laser printers as long as possible. This is an example of which of the following?

A company is deciding where to assign its summer intern. The manager estimates that the intern can save $10,000 in the supply chain or increase sales (revenue) by $20,000. Given the following table, where should the manager assign the intern to maximize profits?

Which of the following is NOT a condition that favors the success of vertical integration?

Which of the following would NOT typically be considered as part of a manufacturing firm's supply chain?

What is the practice of keeping a product generic as long as possible before customizing?

What is a keiretsu?

Define EDI.

Which of the following is NOT true about reverse logistics as compared to forward logistics?

The Japanese concept of a company coalition of suppliers is:

Distribution management focuses on which of the following?

Which of the following statements does NOT accurately explain what occurs when the number of facilities in a distribution network increases?

As the number of facilities in a distribution network increases, profit tends to follow a curve that first declines, then rises.

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Forecasting

Design of Goods and Services

Managing Quality

Process Strategies

Location Strategies

Human Resources, Job Design, and Work Measurement

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrp and Erp

Short-Term Scheduling

Lean Operations

Maintenance and Reliability

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Applying Analytics to Big Data in Operations Management

Filters