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Questions and Answers
What is a relevant goal in Total Quality Management (TQM)?
What is a relevant goal in Total Quality Management (TQM)?
What do lean principles primarily focus on?
What do lean principles primarily focus on?
What does the bullwhip effect describe in supply chain management?
What does the bullwhip effect describe in supply chain management?
What phenomenon occurs due to small changes in customer demand leading to larger oscillations in inventory?
What phenomenon occurs due to small changes in customer demand leading to larger oscillations in inventory?
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What important trend does switching supply from a U.S. manufacturer to a Chinese supplier illustrate?
What important trend does switching supply from a U.S. manufacturer to a Chinese supplier illustrate?
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What is another term for a demand-driven system?
What is another term for a demand-driven system?
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Which decision phase in supply chain management involves all elements of supply chain operation?
Which decision phase in supply chain management involves all elements of supply chain operation?
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What does benchmarking compare within an organization?
What does benchmarking compare within an organization?
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What term refers to a sign, symbol, design, or name that identifies a product or service?
What term refers to a sign, symbol, design, or name that identifies a product or service?
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In which phase of new product development is Nestle conducting customer surveys to determine potential product appeal?
In which phase of new product development is Nestle conducting customer surveys to determine potential product appeal?
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Which stage of the product life cycle is typically the most costly for a company?
Which stage of the product life cycle is typically the most costly for a company?
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What type of marketing system involves independent firms at different channel levels integrating their programs on a contractual basis?
What type of marketing system involves independent firms at different channel levels integrating their programs on a contractual basis?
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The process of introducing higher quality products into a manufacturer's line is known as what?
The process of introducing higher quality products into a manufacturer's line is known as what?
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What term refers to the act of designing a company’s offering and image to hold a unique position in the market's mind?
What term refers to the act of designing a company’s offering and image to hold a unique position in the market's mind?
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Which includes all activities related to the supply of finished products, from production to consumers?
Which includes all activities related to the supply of finished products, from production to consumers?
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The AIO (activities, interests, opinions) questions are utilized for analyzing which type of segmentation?
The AIO (activities, interests, opinions) questions are utilized for analyzing which type of segmentation?
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What is a term that defines a set of conditions used to measure how well a product or system functions?
What is a term that defines a set of conditions used to measure how well a product or system functions?
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Which term describes an internal organizational Internet secured against outside access?
Which term describes an internal organizational Internet secured against outside access?
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In which layout type are materials fed into the first machine and finished products come out of the last machine?
In which layout type are materials fed into the first machine and finished products come out of the last machine?
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Who first coined the term supply chain management?
Who first coined the term supply chain management?
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What does EOQ stand for in inventory management?
What does EOQ stand for in inventory management?
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What concept in supply chain management originated from the discipline of production management?
What concept in supply chain management originated from the discipline of production management?
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What is VMI commonly known as in supply chain terminology?
What is VMI commonly known as in supply chain terminology?
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What does TQM stand for in quality management?
What does TQM stand for in quality management?
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Which of the following best describes the goal of lean production?
Which of the following best describes the goal of lean production?
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The bullwhip effect is primarily related to which phenomenon?
The bullwhip effect is primarily related to which phenomenon?
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What term describes the practice of selling additional products to the same customer?
What term describes the practice of selling additional products to the same customer?
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What is the cost incurred for unsold items at the end of a selling period called?
What is the cost incurred for unsold items at the end of a selling period called?
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Customer Relationship Management primarily focuses on which aspect?
Customer Relationship Management primarily focuses on which aspect?
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An intranet that is available to select outsiders, such as customers and suppliers, is referred to as what?
An intranet that is available to select outsiders, such as customers and suppliers, is referred to as what?
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The process of introducing higher quality products by a manufacturer is termed what?
The process of introducing higher quality products by a manufacturer is termed what?
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In which stage of a product life cycle would a company likely cut back on advertising expenditures?
In which stage of a product life cycle would a company likely cut back on advertising expenditures?
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What is the term used to describe extra stock maintained to mitigate risks of stock outs?
What is the term used to describe extra stock maintained to mitigate risks of stock outs?
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What distribution strategy gives intermediaries exclusive rights to market a product in a defined territory?
What distribution strategy gives intermediaries exclusive rights to market a product in a defined territory?
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Which of the following describes a group of buyers that a company aims to serve?
Which of the following describes a group of buyers that a company aims to serve?
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What is the alternative term for safety inventory?
What is the alternative term for safety inventory?
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What is the term for the time period between placing an order and its receipt?
What is the term for the time period between placing an order and its receipt?
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What is the objective of effective inventory management?
What is the objective of effective inventory management?
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Which of the following costs are related to inventory?
Which of the following costs are related to inventory?
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Which type of layout is best for manufacturing standard products in large quantities?
Which type of layout is best for manufacturing standard products in large quantities?
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Study Notes
Supply Chain Management - MCQs
- Minimal defects in manufacturing: A relevant goal, but not readily achievable in all areas, and often a target of Total Quality Management (TQM)
- LEAN principles: Focus on reducing waste, rather than advanced statistics. Lean principles developed over time, are crucial for supply chain management.
- Bullwhip effect: Inventory oscillations increase through a supply chain due to small changes in customer demands.
- Reverse logistics: A U.S. manufacturer switching to a Chinese supplier for steel forgings is an example of a trend in operations and supply chain management, specifically less expensive supplies/increased competition/globalization.
- Demand-driven system: A pull system, a system in which production is triggered by customer demand.
- Decision phases in a supply chain: Key phases that include production scheduling, customer relationship management and other elements.
- Benchmarking: A method of continuous measurement of products and processes against a recognized industry leader.
- Information systems decisions: Important decisions need to be made during the supply chain design phase.
- Inventory types: Beauty products can be examples for different types of inventory: Make to Order, Configure to Order, Make to Stock, and Engineer to Order.
- Product life cycle: Maturity is a period of market acceptance and increasing profits
- Brand identification: A name, term, sign, symbol, design, or a combination thereof that identifies a product or service—like labels, co-branding and brands.
- New product development: When a company investigates new product expansions (like Nestlé conducting surveys to assess consumer appeal for new food products), they are in the Idea Generation Phase of new product development.
- Product life cycle stage: The most expensive product life cycle stage is often Introduction.
- Vertical marketing systems: Contractual vertical marketing systems are independent firms at different channel levels integrating their programs on a contractual basis to achieve systemic economies and increased market impact,.
Other Key Concepts
- Continuous improvement (Kaizen): A Japanese term stressing continuous improvement in processes and workflows.
- EOQ (Economic Order Quantity): Relevant costs include holding costs and ordering costs.
- Layout type: Product layout is used to manufacture a standard product in large quantities, when materials are fed into the first machine and finished products come out of the last machine.
- Supply chain management (SCM): Originated in related disciplines like Production Management, Logistics Management, Marketing, and Operations Management.
- Vendor managed inventory (VMI): A system where suppliers control inventory levels for their customers.
- Supply chain order fill rate: A measure that represents the frequency of satisfying customer orders with available stock.
- Supply chain flexibility: The ability of a system to change quickly and adapt to changes.
- Cash-to-cash cycle: The time period between paying for raw materials and getting paid for services.
- Inventory management: Aims for an optimal re-order level
- Inventory costs: Costs associated with inventory include costs like purchase price and re-order costs and holding costs.
Additional Details
- Supply Chain Operations: The flow of raw materials, work-in-progress (WIP), and finished products in a forward direction. Raw materials and information flow in both directions in a supply chain.
- Supply chain segment identification: B2B and B2C are segment types for online retailers like eBay and Amazon.
- Segmentation types: AIO (activities, interests, opinions) questions are used for analyzing demographic segmentations.
- Packaging and sorting: Re-arranging of goods and re-packing are functions of supply chain operations.
- Promotional strategies: Rational selling, push, and pull strategies are promotional tools to use in sales strategies.
- Customer Relationship Management (CRM): CRM focuses on acquiring the right customer, using the correct processes and motivating employees.
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Description
Test your knowledge on supply chain management with our multiple-choice questions. This quiz covers essential concepts such as lean principles, the bullwhip effect, and reverse logistics, helping you understand the complexities of supply chain operations. Enhance your learning and prepare for your exams with these challenging questions.
