Mastering STEEPLED

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Questions and Answers

Which of the following is NOT an example of how social factors can impact supply chain relationships?

  • Consumer awareness and expectations
  • Cultural differences
  • Labour practices (correct)
  • Transparency in sourcing

What is the importance of understanding cultural differences in a global supply chain?

  • To ensure effective communication and negotiation
  • To avoid misunderstandings
  • To build strong relationships
  • All of the above (correct)

Why is it important for companies to work closely with their suppliers to ensure ethically sourced and produced products?

  • To avoid negative publicity
  • To improve supply chain efficiency
  • To comply with legal regulations
  • To meet consumer demands (correct)

Which economic factor can significantly impact the cost of materials in a supply chain relationship?

<p>Exchange rates (D)</p> Signup and view all the answers

What can a company do to manage the increased cost of goods sold due to rising inflation?

<p>Manage pricing with suppliers (C)</p> Signup and view all the answers

Which government economic policy can make a supplier less competitive and prompt the need to find alternative suppliers?

<p>Trade tariffs (C)</p> Signup and view all the answers

Which environmental factor can disrupt supply chains, such as in the case of coffee production?

<p>Climate change (A)</p> Signup and view all the answers

Which of the following is NOT an example of how technological factors can impact supply chain relationships?

<p>Reduced costs and increased profitability through economic factors (A)</p> Signup and view all the answers

Which of the following is NOT a cultural aspect that can influence supply chain relationships?

<p>Changing consumer trends (D)</p> Signup and view all the answers

What is one way changing consumer trends can affect supply chain relationships?

<p>Shift in the types of products in demand (D)</p> Signup and view all the answers

How can health and safety concerns affect supply chain relationships?

<p>By requiring companies to adjust production schedules and implement safety protocols (B)</p> Signup and view all the answers

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