Exam 21: Supply Chain Management

Bullwhip effect refers to a phenomenon in which demand variations that exist at the customer end of the supply chain are magnified as orders are generated back through the supply chain.

Event-response capability is the advanced planning required to respond to planned events such as receiving a scheduled shipment.

The more __________ a company's supply chain, the more difficult it is to ensure that the supply chain is managed ethically.

Decentralized purchasing can usually offer quicker response than centralized purchasing.

A factor that makes it desirable for business organizations to actively manage their supply chains is:

In e-commerce, the front-end design is significantly more important than the back-end design.

Which of these aspects of supply chain management are especially concerning to small business? (I) customer reliability (II) inventory management (III) purchasing costs (IV) risk management (V) international trade

Returned goods are part of reverse logistics.

Examination of the sources of supply for purchased parts or materials in order to improve performance is called:

Starting with the final customer and moving backward through the supply chain, batch sizes and the level of safety stock tend to decrease.

Which of the following is part of the purchasing cycle? (I) Purchasing selects a supplier. (II) Orders from vendors are received. (III) Purchasing receives a requisition.

Some firms have structured their procurement function to include both centralized and decentralized purchasing.

Vendor analysis is the examination of the _________ of purchased materials.

Which of the following is an advantage of E-business? (I) reduction of transaction costs (II) shortened supply chain response time (III) greater customer loyalty

_________ has/have helped firms to concentrate on their core business.

The activity which begins with a request from within the organization is:

The need for risk management increases as globalization of supply chains increases.

Which of the following is not an application of E-business?

Which of the following is not a measure of the reliability of the supply chain?

The materials in the supply chain flow toward the end of the chain, while the information and the dollars move toward the beginning of the chain.