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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?

Exchange rates Signup and view all the answers

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

Manage pricing with suppliers Signup and view all the answers

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

Trade tariffs Signup and view all the answers

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

Climate change Signup and view all the answers

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

Reduced costs and increased profitability through economic factors Signup and view all the answers

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

Changing consumer trends Signup and view all the answers

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

Shift in the types of products in demand Signup and view all the answers

How can health and safety concerns affect supply chain relationships?

By requiring companies to adjust production schedules and implement safety protocols Signup and view all the answers