12 Questions
IoT-enabled sensors and machine learning algorithms can monitor equipment performance and predict when maintenance is not needed, reducing downtime and improving asset utilization.
False
Automated storage and retrieval systems are designed to decrease worker safety in warehouse operations.
False
Collaborative partnerships with suppliers, manufacturers, distributors, and stakeholders can hinder the implementation of supply chain innovation components.
False
High initial costs are not a significant challenge for implementing supply chain innovation components.
False
3D printing allows for off-demand and centralized production of certain components or products.
False
Predictive maintenance enabled by IoT can increase equipment downtime and worsen asset utilization.
False
Supply chain innovation involves the implementation of existing strategies and practices within the supply chain.
False
The need for supply chain innovation arises from factors such as shifting consumer expectations and rapid technological advancement.
True
The rise of 3G technology has impacted supply chains by enabling faster communication and real-time tracking.
False
Robotics and automation streamline supply chain processes as part of supply chain innovation.
True
Supply chain innovation focuses on reducing costs and mitigating risks only.
False
Amazon Prime's same-day or next-day delivery service is an example of global competition.
False
Test your knowledge of supply chain innovation, a crucial aspect of business competitiveness in today's fast-paced world. Learn about the definition and importance of implementing new strategies and technologies to enhance efficiency and reduce costs.
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