Supply Chain Management Quiz
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Questions and Answers

Which method is primarily utilized to predict customer demand?

  • Inventory Management
  • Product Pricing
  • Demand Forecasting (correct)
  • Credit & Collections

    • What is the main purpose of procurement in the supply chain?

  • Implementing pricing strategies
  • Collecting debts
  • Purchasing raw materials (correct)
  • Managing inventory levels

    • What technology is increasingly used to improve inventory management efficiency?

  • Manual Inventory Logs
  • Credit Management Software
  • Product Pricing Tools
  • Warehouse Management Systems (WMS) (correct)

    • Which strategy helps minimize risk in the supply chain through diversification?

    <p>Supplier Diversification</p> Signup and view all the answers

    What role does data analytics play in product pricing?

    <p>To make accurate pricing decisions</p> Signup and view all the answers

    What process is involved in transforming raw materials into finished products?

    <p>Production Process</p> Signup and view all the answers

    What is a key component of effective strategic sourcing?

    <p>Supplier Collaboration</p> Signup and view all the answers

    Which aspect of inventory management is crucial for minimizing waste?

    <p>Controlling Inventory Levels</p> Signup and view all the answers

    What impact has the US-China trade war had on Huawei's phone production?

    <p>It decreased by 42%.</p> Signup and view all the answers

    Which of the following companies faced restrictions in acquiring essential technologies during the US-China trade war?

    <p>Huawei</p> Signup and view all the answers

    What primary product categories are disrupted by the Russia-Ukraine war?

    <p>Wheat, sunflower oil, and metals.</p> Signup and view all the answers

    What is a cause of high energy prices due to the Russia-Ukraine war?

    <p>Supply shortages of natural gas.</p> Signup and view all the answers

    How does data digitization improve supply chain management?

    <p>By allowing real-time tracking of goods.</p> Signup and view all the answers

    What trend involves relocating manufacturing closer to markets?

    <p>Reshoring</p> Signup and view all the answers

    In what way has automation benefited supply chains?

    <p>By reducing costs and improving efficiency.</p> Signup and view all the answers

    What technology has Amazon implemented to manage its supply chain effectively?

    <p>Blockchain.</p> Signup and view all the answers

    What is the primary focus of the value chain?

    <p>Value creation</p> Signup and view all the answers

    Which element is NOT typically associated with the value chain?

    <p>Operational execution</p> Signup and view all the answers

    What was a key feature of the supply chain during the mass production era of the 1950s-1960s?

    <p>High inventory levels</p> Signup and view all the answers

    How does the focus of the supply chain differ from that of the value chain?

    <p>The supply chain is concerned with execution activities.</p> Signup and view all the answers

    What challenge is currently faced by the present supply chain?

    <p>Global crises</p> Signup and view all the answers

    Which aspect is emphasized for the future supply chain?

    <p>Data digitization and visibility</p> Signup and view all the answers

    Which of the following best describes the relationship between value chain and supply chain?

    <p>The value chain includes creative components, while the supply chain does not.</p> Signup and view all the answers

    Which process was part of the past supply chain management techniques?

    <p>Total quality management (TQM)</p> Signup and view all the answers

    What is included in the concept of a supply chain?

    <p>The system of organizations, people, technology, activities, and information needed to deliver a product or service</p> Signup and view all the answers

    Which component transforms raw materials into final products?

    <p>Manufacturers</p> Signup and view all the answers

    What purpose do warehouses serve within the supply chain?

    <p>They store and manage products before distribution</p> Signup and view all the answers

    What is a critical aspect of Supply Chain Management (SCM)?

    <p>Planning, organizing, and controlling activities related to goods movement</p> Signup and view all the answers

    Which of the following correctly describes distribution channels?

    <p>They are the pathways that products take to reach consumers</p> Signup and view all the answers

    What modes of transportation are typically utilized in supply chains?

    <p>Trucks, trains, ships, and planes only</p> Signup and view all the answers

    Who are considered customers in the context of a supply chain?

    <p>End consumers of the products or services</p> Signup and view all the answers

    What activity is NOT part of Supply Chain Management?

    <p>Advertising products</p> Signup and view all the answers

    What is the primary goal of the Just-in-Time (JIT) production strategy?

    <p>Minimize storage costs and waste</p> Signup and view all the answers

    Which of the following best describes Total Quality Management (TQM)?

    <p>An approach centered around continuous improvement of product quality</p> Signup and view all the answers

    How did Toyota utilize TQM in the 1980s?

    <p>By reducing the defect rate and production time significantly</p> Signup and view all the answers

    What significant change occurred in supply chain management in the 1990s?

    <p>It was redefined to integrate business processes from suppliers to customers</p> Signup and view all the answers

    What was a primary motivation for companies to implement Business Process Reengineering (BPR) in the 1990s?

    <p>To enhance competition by reducing costs</p> Signup and view all the answers

    What was a key outcome for General Electric (GE) after restructuring its business processes?

    <p>Increased aircraft engine production efficiency by 15%</p> Signup and view all the answers

    What does TQM prioritize in a company’s operational framework?

    <p>Continuous improvement and customer satisfaction</p> Signup and view all the answers

    How is supply chain management differentiated from logistics in the 1990s?

    <p>Supply chain management encompasses all processes from suppliers to customers</p> Signup and view all the answers

    What is the primary goal of product design?

    <p>To meet customer needs by combining aesthetic, functional, and durability factors</p> Signup and view all the answers

    How does production scheduling affect manufacturing?

    <p>It optimizes production time and ensures products are made according to customer demand</p> Signup and view all the answers

    What role does facility management play in the production process?

    <p>Maintaining and optimizing the production infrastructure and equipment</p> Signup and view all the answers

    Which technology dramatically reduces production time and costs by enabling rapid manufacturing of complex parts?

    <p>3D Printing</p> Signup and view all the answers

    What advantage does utilizing IoT in production processes offer?

    <p>It collects real-time data for continuous monitoring and optimization</p> Signup and view all the answers

    Which technology is used to assist workers in assembly and quality inspections?

    <p>Augmented Reality (AR)</p> Signup and view all the answers

    What is a key benefit of implementing advanced manufacturing technologies?

    <p>It improves production efficiency, product quality, and reduces costs</p> Signup and view all the answers

    What must product design comply with in addition to customer needs?

    <p>Environmental sustainability practices</p> Signup and view all the answers

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