DTS - Week 3 (MC & Case)

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Questions and Answers

Which of the following best describes the primary benefit of integrating blockchain technology into FreshMart's supply chain?

Reduction in marketing expenses

Elimination of competitor involvement

Standardization of centralized data governance

Enhanced transparency and real-time decision-making (correct)

What is a significant trade-off when involving competitors in a blockchain network for FreshMart?

Risk of weak network ties

Difficulty in achieving data standardization

Potential for data misuse and collusion threats (correct)

Reduced ability to enforce relational norms

FreshMart wants to balance offensive and defensive data strategies. Which of the following factors is most likely to push the company toward an offensive strategy?

Large-scale storage of customer-sensitive data

Strict industry regulations on data privacy

High competition in the grocery retail market (correct)

Need to comply with international trade laws

When implementing SSOT and MVOTs, what governance failure could most likely lead to operational inefficiencies at FreshMart?

Ambiguity in data definitions between departments Signup and view all the answers

What would be the most effective use of blockchain in FreshMart's offensive strategy?

Enhancing real-time collaboration among suppliers Signup and view all the answers

If FreshMart adopts a decentralized data management system, which of the following is the most likely outcome?

Greater agility in adapting data to specific business needs Signup and view all the answers

FreshMart uses MVOTs to create department-specific data reports. What is a key risk if the MVOTs are poorly governed?

Inconsistencies with the SSOT Signup and view all the answers

Which of the following governance mechanisms is most effective for maintaining relational norms in a blockchain-based supply chain?

Implementation of contingency planning for disputes Signup and view all the answers

FreshMart's CDO wants to ensure the accuracy of SSOT data. Which of the following governance practices would be most effective?

Conducting regular audits and implementing feedback loops Signup and view all the answers

What is the primary role of feedback loops in FreshMart's data governance system?

To improve the accuracy and reliability of MVOTs Signup and view all the answers

FreshMart has implemented blockchain technology to track its supply chain. The system provides real-time updates about the location and condition of products, such as fresh produce. However, the company notices that some suppliers are hesitant to join the network due to concerns about data visibility. What governance mechanism should FreshMart implement to address suppliers' concerns?

Role-based access control to limit data visibility as needed Signup and view all the answers

FreshMart's marketing team wants to analyze customer purchasing patterns to optimize product placement and promotions. Meanwhile, the legal team stresses the need to comply with privacy regulations like GDPR. What is the best approach to balance these conflicting goals?

Establish clear data governance rules for data usage Signup and view all the answers

FreshMart has a Single Source of Truth (SSOT) for customer data. The marketing department creates MVOTs to segment customers into different loyalty groups. However, the sales team complains that the segments do not align with their revenue data, leading to inconsistencies in campaigns. What is the likely cause of the issue?

Poor governance between SSOT and MVOTs Signup and view all the answers

FreshMart is considering involving competitors in its blockchain network to increase data coverage and utility. However, the board is concerned about the risks of sharing sensitive supply chain data with competitors. What is the best way for FreshMart to mitigate this risk?

Use anonymized data and access controls for shared information Signup and view all the answers

FreshMart's decentralized data system allows each department to manage its own MVOTs for operational efficiency. The finance team identifies duplicate records in the inventory database, leading to incorrect financial reporting. What should FreshMart do to prevent this issue in the future?

Conduct audits of MVOTs to ensure alignment with the SSOT Signup and view all the answers

Study Notes

Question 1 - Primary Benefit of Blockchain Integration

Enhanced transparency and real-time decision-making is the primary benefit of integrating blockchain technology into FreshMart's supply chain.

Question 2 - Trade-Offs of Competitor Involvement in Blockchain

A significant trade-off when involving competitors in a blockchain network for FreshMart is the risk of weak network ties, difficulty in achieving data standardization, potential for data misuse and collusion threats, and reduced ability to enforce relational norms.

Question 3 - Factors Influencing Offensive Strategy

High competition in the grocery retail market is the factor most likely to push FreshMart toward an offensive data strategy.

Question 4 - Governance Failure in SSOT and MVOT Implementation

Over-reliance on centralized control for data access and ambiguity in data definitions between departments could lead to operational inefficiencies in FreshMart when implementing SSOTs and MVOTs.

Question 5 - Effective Use of Blockchain in Offensive Strategy

Automating compliance checks for regulatory reporting is the most effective use of blockchain in FreshMart's offensive strategy.

Question 6 - Decentralized Data Management System Outcomes

A decentralized data management system would likely result in reduced duplication of efforts across departments and greater agility in adapting data to specific business needs.

Question 7 - Key Risk of Poorly Governed MVOTs

A key risk if MVOTs are poorly governed is inconsistencies with the Single Source of Truth (SSOT).

Question 8 - Effective Governance Mechanism for Relational Norms

Enforcing contracts through centralized management is an effective governance mechanism for maintaining relational norms in a blockchain-based supply chain.

Question 9 - Governance Practices for SSOT Accuracy

Conducting regular audits and implementing feedback loops is the most effective governance practice to ensure the accuracy of Single Source of Truth data.

Question 10 - Feedback Loops in Data Governance

Feedback loops in FreshMart's data governance system primarily improve the accuracy and reliability of MVOTs.

Question 11 - Implementation of Data Visibility Mechanism

FreshMart should implement role-based access control to address supplier concerns about data visibility when using blockchain technology for supply chain tracking.

Question 12 - Balancing Marketing and Legal Goals

The best approach to balance conflicting goals of marketing insights and regulatory compliance (like GDPR) is to prioritize data anonymization when analyzing customer purchasing patterns to optimize product placement and promotions.

Question 13 - Cause of Inconsistency Between SSOT and MVOTs

The likely cause of the inconsistency between the marketing department's MVOTs and the sales team's revenue data is that the Single Source of Truth (SSOT) data is not accurate or standardized.

Sharing data openly to foster trust among competitors is the best way to mitigate the risk of sharing sensitive supply chain data with competitors.

Question 15 - Preventing Duplicate Records in Decentralized System

Centralizing the data management system to eliminate duplication is the solution to prevent duplicate records in FreshMart's decentralized data system.

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Description

This quiz examines the integration of blockchain technology in FreshMart's supply chain, exploring its benefits, trade-offs, and factors influencing strategy. You'll delve into governance issues and competitive strategies essential for success in the grocery retail market.