Supply Chain Management

Question 1

A supply chain is a system of organizations, people, technology,activities, information and resources _____ in _____ a product or service from supplier to customer.

Answer 1

INVOLVED, MOVING

Question 2

Manufacture quality products at the lowest imaginable controllable cost.

Answer 2

PLANT MANAGEMENT

Question 3

It focuses on the raw materials supplied to manufacturing, including how, when, and from what location.

Answer 3

SUPPLY

Question 4

Used products may re-enter the supply chain at any point where residual value is recyclable.

Answer 4

SOPHISTICATED SUPPLY CHAIN SYSTEMS

Question 5

Decision at this level affect how the product move along the supply chain.

Answer 5

OPERATIONAL

Question 6

This type of strategy is beneficial to organizations in accounting for company expenditure and improving organizational functions.

Answer 6

COST REDUCTION

Question 7

Who proposed the Four “P” classification in 1960

Answer 7

McCarthy

Question 8

What is the formula for Return on Assets Effect (ROA)?

Answer 8

ROA = NET INCOME/TOTAL ASSETS

Question 9

Flow includes moving goods from supplier to consumer, as well as dealing with customer service needs

Answer 9

PRODUCT

Question 10

Another word for Supply Management?

Answer 10

PROCUREMENT

Question 11

It determines the supply chain performance. For each of these, managers must make tradeoffs between efficiency and responsiveness.

Answer 11

SUPPLY CHAIN DRIVERS

Question 12

This includes moving goods from supplier to consumer, as well as dealing with customer service needs.

Answer 12

PRODUCT FLOW

Question 13

Decisions are typically updated anywhere between once every quarter and once a year.

Answer 13

TACTICAL

Question 14

It is a place where everything is stored, manufactured or assembled.

Answer 14

FACILITIES

Question 15

The financial flow Includes?

Answer 15

PAYMENT SCHEDULES, CREDIT TERMS AND ADDITIONAL ARRANGEMENTS

Question 15

What does SWOT analysis stand for?

Answer 15

STRENGTH, WEAKNESSES, OPPORTUNITIES, AND THREATS

Question 16

Define supply management as: the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities.

Answer 16

THE COUNCIL OF SUPPLY CHAIN MANAGEMENT PROFESSIONALS

Question 17

Is slow and prone to errors due to duplication of data entries during various stages of the purchasing process.

Answer 17

MANUAL PURCHASING SYSTEM

Question 18

The two-way exchange of information and ideas with the customer through an online interface, which enhances the richness of customer relationship.

Answer 18

INTERACTIVITY

Question 19

The average amount of inventory used to satisfy demand between receipt of supplier shipments.

Answer 19

CYCLE INVENTORY

Question 20

Organizational policy and structure in which the authority and responsibility for most supply management related functions and decisions are assigned to individual functions or managers.

Answer 20

Decentralized Purchasing

Question 21

It is where individual local purchasing departments, such as at plant level, make their own purchasing decisions.

Answer 21

Decentralized Purchasing

Question 22

Encompasses the planning and management of all activities involved in sourcing and procurement,demand and replenishment and all logistics management activities including costumer service.

Answer 22

SUPPLY MANAGEMENT

Question 23

It was developed in the 1970’s to improve the purchasing process.

Answer 23

ELECTRONIC DATA INTERCHANGE (EDI)

Question 24

It shows how many times a firm's inventory is utilized and replaced over an accounting period, such as year.

Answer 24

INVENTORY TURNOVER

Question 25

Where individual, local purchasing departments, such as at the plant level, make their own purchasing decisions.

Answer 25

DECENTRALIZED PURCHASING

Question 26

What are the three (3) levels of supply chain management that different parts of the company will focus on?

Answer 26

STRATEGIC, TACTICAL, OPERATIONAL

Question 27

Purchase raw materials for convention, services, capital equipment and operating supplies.

Answer 27

INDUSTRIAL BUYERS

Question 28

It measures the impact of a change in purchase spends on a firm's profit before taxes, assuming gross sales and other expenses remain unchanged.

Answer 28

PROFIT-LEVERAGE EFFECT

Question 29

Can be defined as the total profit shared by all the stages and intermediaries of a supply chain.

Answer 29

SUPPLY CHAIN SURPLUS

Question 30

it involves the gathering of facts, data, observation and trends about the marketplace in which suppliers conduct business.

Answer 30

SUPPLY CHAIN MARKET ANALYSIS

Question 31

It analyzes the technology used, how the organization is structured, the skill level of the practitioners, and the processes used throughout the cycle.

Answer 31

SPEND MANAGEMENT

Question 32

It consists of Data and results of analysis regarding inventory, transportation, facilities, customer orders, and funds.

Answer 32

INFORMATION

Question 33

Give two (2) barriers of supply chain management.

Answer 33

CROSS-FUNCTIONAL CONFLICTS, RESISTANCE TO CHANGE

Question 34

it is a decision that affect both responsiveness and efficiency of a supply chain, determines what function a firm performs and what functions the firm to procure goods/services from non union suppliers.

Answer 34

SOURCING

Question 35

A well-defined strategy that entails procuring products and services from an expensive range of international suppliers.

Answer 35

GLOBAL SOURCING

Question 36

A useful model that identifies three key features of e-business that are enabled through technology, as an extension of the traditional 4P's Marketing Model.

Answer 36

MARKETSPACE MODEL

Question 37

It can be defined as the act of obtaining merchandise, capital equipment, raw materials, services, or maintenance repair and order (MRO), supplies in exchange for money or its equivalent.

Answer 37

PURCHASING PROFESSION

Question 38

the term marketing matrix became popular after _______ published his 1964 article, The Concept of marketing Matrix.

Answer 38

NEIL H. BORDEN

Question 39

Is the amount of consumers that are willing to pay for what a company provides and it measured by total revenue.

Answer 39

VALUE

Question 40

Build up to counter predictable seasonal variability in demand.

Answer 40

SEASONAL INVENTORY

Question 41

Strategic tools used by procurement and supply chain professionals to identify and minimize supply risks

Answer 41

THE KRALJIC MATRIX

Question 42

It shows how many firms is utilized and replaced over an accounting period, such as year.

Answer 42

INVENTORY TURNOVER EFFECT

Question 43

All of the communications that a marketer may use in the marketplace, advertising, public relations, personal selling and sales promotion.

Answer 43

PROMOTION

Question 44

Place where inventory is stored, manufactures and assembled

Answer 44

FACILITIES

Question 45

Organizational policy and structure in which the authority and responsibility for most supply management staff is all physically located in one place.

Answer 45

CENTRALIZED PURCHASING