Podcast
Questions and Answers
Which one of the following statements best describes the relationship between supply chain management and logistics?
Which one of the following statements best describes the relationship between supply chain management and logistics?
- Supply chain management is a subset of logistics.
- Supply chain management and logistics are the same thing.
- Supply chain management and logistics are unrelated concepts.
- Logistics is a subset of supply chain management. (correct)
What is the mission of logistics management?
What is the mission of logistics management?
- To create demand for products and services.
- To achieve competitive advantage.
- To manage the physical supply of goods. (correct)
- To ensure efficient distribution of goods.
Why is the coordination between demand creation and physical supply important in logistics management?
Why is the coordination between demand creation and physical supply important in logistics management?
- It ensures efficient distribution of goods.
- It leads to the creation of demand.
- It upsets the equilibrium of forces. (correct)
- It helps achieve competitive advantage.
Which industry typically has a low-cost producer with the greatest sales volume in the sector?
Which industry typically has a low-cost producer with the greatest sales volume in the sector?
According to the text, what is the relationship described by the experience curve?
According to the text, what is the relationship described by the experience curve?
What are the two primary types of value chain activities?
What are the two primary types of value chain activities?
What is the scope of logistics management according to the text?
What is the scope of logistics management according to the text?
What are the four principles that guide the supply chain manager?
What are the four principles that guide the supply chain manager?
What does responsiveness in the supply chain refer to?
What does responsiveness in the supply chain refer to?
How can significant improvements in reliability be achieved in the supply chain?
How can significant improvements in reliability be achieved in the supply chain?
What is the emphasis in supply chain design today?
What is the emphasis in supply chain design today?
According to the text, what is the fundamental difference between the previous model of competition and the current era of 'supply chain competition'?
According to the text, what is the fundamental difference between the previous model of competition and the current era of 'supply chain competition'?
What is one of the key challenges logistics management faces due to the trend towards globalisation?
What is one of the key challenges logistics management faces due to the trend towards globalisation?
What is the role of national companies in the global business environment according to the text?
What is the role of national companies in the global business environment according to the text?
What is the critical management issue related to time compression mentioned in the text?
What is the critical management issue related to time compression mentioned in the text?
Which of the following best defines logistics?
Which of the following best defines logistics?
Which of the following best differentiates supply chain management from logistics?
Which of the following best differentiates supply chain management from logistics?
Which of the following best describes supply chain management?
Which of the following best describes supply chain management?
Which of the following best reflects the idea that the supply chain should be driven by the market and includes multiple suppliers and customers in a network?
Which of the following best reflects the idea that the supply chain should be driven by the market and includes multiple suppliers and customers in a network?
Which of the following best describes logistics management in the context of the text?
Which of the following best describes logistics management in the context of the text?
What is the relationship between supply chain management and logistics?
What is the relationship between supply chain management and logistics?
What is the mission of logistics management according to the text?
What is the mission of logistics management according to the text?
Which of the following best describes the concept of cost advantage in the text?
Which of the following best describes the concept of cost advantage in the text?
What is the relationship between real unit costs and cumulative volume described by the experience curve?
What is the relationship between real unit costs and cumulative volume described by the experience curve?
What is the main focus of logistics and supply chain management in reducing unit costs?
What is the main focus of logistics and supply chain management in reducing unit costs?
What is the key factor that determines competitive advantage in the value chain?
What is the key factor that determines competitive advantage in the value chain?
Which of the following is a key characteristic of a resilient supply chain?
Which of the following is a key characteristic of a resilient supply chain?
What is the main reason why companies carry safety stock in their inventory?
What is the main reason why companies carry safety stock in their inventory?
What does the concept of responsiveness in the supply chain refer to?
What does the concept of responsiveness in the supply chain refer to?
What is one of the principles that guide the supply chain manager?
What is one of the principles that guide the supply chain manager?
Which of the following best describes the concept of 'supply chain competition' mentioned in the text?
Which of the following best describes the concept of 'supply chain competition' mentioned in the text?
Which one of the following best describes logistics?
Which one of the following best describes logistics?
What is the trend towards globalisation in the business environment described in the text?
What is the trend towards globalisation in the business environment described in the text?
Which of the following best describes supply chain management?
Which of the following best describes supply chain management?
What is the strategic issue that presents a challenge for logistics management due to globalisation?
What is the strategic issue that presents a challenge for logistics management due to globalisation?
What is one of the key challenges logistics management faces due to the trend towards globalization?
What is one of the key challenges logistics management faces due to the trend towards globalization?
What is the emphasis in supply chain design today?
What is the emphasis in supply chain design today?
What is the critical management issue related to 'time-based competition' mentioned in the text?
What is the critical management issue related to 'time-based competition' mentioned in the text?
True or false: Logistics management is a narrower concept than supply chain management.
True or false: Logistics management is a narrower concept than supply chain management.
True or false: The supply chain and the value chain are two separate concepts.
True or false: The supply chain and the value chain are two separate concepts.
True or false: The mission of logistics management is to efficiently distribute goods.
True or false: The mission of logistics management is to efficiently distribute goods.
True or false: The changing competitive environment has no impact on the supply chain.
True or false: The changing competitive environment has no impact on the supply chain.
True or false: The principles of interdependence and balance are crucial in logistics management.
True or false: The principles of interdependence and balance are crucial in logistics management.
True or false: The coordination between demand creation and physical supply is not important in logistics management.
True or false: The coordination between demand creation and physical supply is not important in logistics management.
True or false: Logistics is the process of managing the procurement, movement, and storage of materials and information through a business.
True or false: Logistics is the process of managing the procurement, movement, and storage of materials and information through a business.
True or false: Supply chain management is a narrower concept than logistics.
True or false: Supply chain management is a narrower concept than logistics.
True or false: Supply chain management focuses on achieving linkage and coordination between suppliers, customers, and the organization itself.
True or false: Supply chain management focuses on achieving linkage and coordination between suppliers, customers, and the organization itself.
True or false: The goal of supply chain management is to reduce or eliminate the barriers of inventory between organizations in a chain.
True or false: The goal of supply chain management is to reduce or eliminate the barriers of inventory between organizations in a chain.
True or false: Supply chain management is primarily concerned with managing relationships to achieve a more profitable outcome for all parties.
True or false: Supply chain management is primarily concerned with managing relationships to achieve a more profitable outcome for all parties.
True or false: The term 'supply chain management' should be replaced with 'demand chain management' to reflect the market-driven nature of the chain.
True or false: The term 'supply chain management' should be replaced with 'demand chain management' to reflect the market-driven nature of the chain.
True or false: There is evidence to suggest that 'big is beautiful' when it comes to cost advantage.
True or false: There is evidence to suggest that 'big is beautiful' when it comes to cost advantage.
True or false: Logistics and supply chain management can contribute to reduced unit costs.
True or false: Logistics and supply chain management can contribute to reduced unit costs.
True or false: Competitive advantage is derived from performing value chain activities more efficiently than competitors.
True or false: Competitive advantage is derived from performing value chain activities more efficiently than competitors.
True or false: The scope of logistics management spans from the management of raw materials to the delivery of the final product.
True or false: The scope of logistics management spans from the management of raw materials to the delivery of the final product.
True or false: Supply chain management is the same as 'vertical integration'.
True or false: Supply chain management is the same as 'vertical integration'.
True or false: Virtual organizations are focused on their 'core business' and outsource everything else.
True or false: Virtual organizations are focused on their 'core business' and outsource everything else.
True or false: Supply chain competition means that organizations can still act as isolated entities in competition with other stand-alone organizations.
True or false: Supply chain competition means that organizations can still act as isolated entities in competition with other stand-alone organizations.
True or false: The ground rules for marketing success in the past were strong brands backed up by large advertising budgets and aggressive selling.
True or false: The ground rules for marketing success in the past were strong brands backed up by large advertising budgets and aggressive selling.
True or false: Organisations gain an advantage in the marketplace by performing fundamental activities in a more cost-effective way than their competitors.
True or false: Organisations gain an advantage in the marketplace by performing fundamental activities in a more cost-effective way than their competitors.
True or false: The globalisation of industry has led to shorter product life cycles and an increased demand for just-in-time deliveries.
True or false: The globalisation of industry has led to shorter product life cycles and an increased demand for just-in-time deliveries.
True or false: Global companies like Hewlett Packard and Caterpillar use global logistics channels to supply parts to offshore assembly plants and after-markets.
True or false: Global companies like Hewlett Packard and Caterpillar use global logistics channels to supply parts to offshore assembly plants and after-markets.
True or false: The trend towards globalisation has led to shorter supply chains as companies move production offshore or source from more distant locations.
True or false: The trend towards globalisation has led to shorter supply chains as companies move production offshore or source from more distant locations.
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: Agility refers to the ability to move quickly and meet customer demands.
True or false: Agility refers to the ability to move quickly and meet customer demands.
True or false: Reliability can only be improved through re-engineering the processes that impact performance.
True or false: Reliability can only be improved through re-engineering the processes that impact performance.
True or false: Resilient supply chains are more vulnerable to disruption and the risk to business continuity is increased.
True or false: Resilient supply chains are more vulnerable to disruption and the risk to business continuity is increased.
True or false: Partnership sourcing involves seeking mutually beneficial, long-term relationships with suppliers.
True or false: Partnership sourcing involves seeking mutually beneficial, long-term relationships with suppliers.
True or false: Supply chain management is about the management of relationships across complex networks of companies that are legally independent.
True or false: Supply chain management is about the management of relationships across complex networks of companies that are legally independent.
True or false: Supply chain management is a wider concept than logistics.
True or false: Supply chain management is a wider concept than logistics.
True or false: The supply chain becomes the value chain.
True or false: The supply chain becomes the value chain.
True or false: The mission of logistics management is to efficiently distribute goods.
True or false: The mission of logistics management is to efficiently distribute goods.
True or false: The changing competitive environment has no impact on the supply chain.
True or false: The changing competitive environment has no impact on the supply chain.
True or false: Supply chain management is a narrower concept than logistics.
True or false: Supply chain management is a narrower concept than logistics.
True or false: Agility refers to the ability to move quickly and meet customer demands.
True or false: Agility refers to the ability to move quickly and meet customer demands.
True or false: 'Big is beautiful' refers to the impact of economies of scale and the experience curve in achieving cost advantage?
True or false: 'Big is beautiful' refers to the impact of economies of scale and the experience curve in achieving cost advantage?
True or false: Logistics and supply chain management can contribute significantly to reducing unit costs?
True or false: Logistics and supply chain management can contribute significantly to reducing unit costs?
True or false: Competitive advantage is derived from performing value chain activities more efficiently than competitors?
True or false: Competitive advantage is derived from performing value chain activities more efficiently than competitors?
True or false: Supply chain management is the same as 'vertical integration'?
True or false: Supply chain management is the same as 'vertical integration'?
True or false: The changing competitive environment can have a considerable impact on logistics and supply chain management?
True or false: The changing competitive environment can have a considerable impact on logistics and supply chain management?
True or false: GANT is an example of a virtual organization that creates value across a network?
True or false: GANT is an example of a virtual organization that creates value across a network?
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: Significant improvements in reliability can only be achieved through re-engineering the processes that impact performance.
True or false: Significant improvements in reliability can only be achieved through re-engineering the processes that impact performance.
True or false: Resilient supply chains may not be the lowest-cost supply chains but they are more capable of coping with the uncertain business environment.
True or false: Resilient supply chains may not be the lowest-cost supply chains but they are more capable of coping with the uncertain business environment.
True or false: The trend towards customers seeking to reduce their supplier base has already been commented upon.
True or false: The trend towards customers seeking to reduce their supplier base has already been commented upon.
True or false: Supply chain management is primarily concerned with managing relationships to achieve a more profitable outcome for all parties.
True or false: Supply chain management is primarily concerned with managing relationships to achieve a more profitable outcome for all parties.
True or false: Partnership sourcing involves seeking mutually beneficial, long-term relationships with suppliers.
True or false: Partnership sourcing involves seeking mutually beneficial, long-term relationships with suppliers.
True or false: Supply chain competition means that organizations can no longer act as isolated and independent entities in competition with other similarly 'stand-alone' organizations.
True or false: Supply chain competition means that organizations can no longer act as isolated and independent entities in competition with other similarly 'stand-alone' organizations.
True or false: The trend towards globalisation has led to shorter supply chains as companies move production offshore or source from more distant locations.
True or false: The trend towards globalisation has led to shorter supply chains as companies move production offshore or source from more distant locations.
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: The ability to respond to customers' requirements in ever-shorter time-frames has become critical in today's just-in-time world.
True or false: The globalisation of industry has led to shorter product life cycles and an increased demand for just-in-time deliveries.
True or false: The globalisation of industry has led to shorter product life cycles and an increased demand for just-in-time deliveries.
True or false: Supply chain management focuses on achieving linkage and coordination between suppliers, customers, and the organization itself.
True or false: Supply chain management focuses on achieving linkage and coordination between suppliers, customers, and the organization itself.
True or false: Organizations gain an advantage in the marketplace by performing fundamental activities in a more cost-effective way than their competitors.
True or false: Organizations gain an advantage in the marketplace by performing fundamental activities in a more cost-effective way than their competitors.
True or false: Logistics is essentially a planning orientation and framework that seeks to create a single plan for the flow of products and information through a business.
True or false: Logistics is essentially a planning orientation and framework that seeks to create a single plan for the flow of products and information through a business.
True or false: Supply chain management builds upon the framework of logistics and seeks to achieve linkage and coordination between the processes of other entities in the pipeline.
True or false: Supply chain management builds upon the framework of logistics and seeks to achieve linkage and coordination between the processes of other entities in the pipeline.
True or false: Supply chain management focuses on the management of relationships in order to achieve a more profitable outcome for all parties in the chain.
True or false: Supply chain management focuses on the management of relationships in order to achieve a more profitable outcome for all parties in the chain.
True or false: The phrase 'supply chain management' should be replaced with 'demand chain management' to reflect the market-driven nature of the chain.
True or false: The phrase 'supply chain management' should be replaced with 'demand chain management' to reflect the market-driven nature of the chain.
True or false: Successful companies either have a cost advantage or a value advantage, or a combination of the two.
True or false: Successful companies either have a cost advantage or a value advantage, or a combination of the two.
True or false: The most profitable competitor in any industry sector tends to be the lowest-cost producer or the supplier providing a product with the greatest perceived differentiated values.
True or false: The most profitable competitor in any industry sector tends to be the lowest-cost producer or the supplier providing a product with the greatest perceived differentiated values.
