Supply Chain Management Quiz

The process of predicting future customer demand by analyzing past data, market trends, and influencing factors. AI and ML are increasingly used in this area.

Determining the optimal price strategy based on factors like production costs, competitor pricing, product value, and market demand.

Managing inventory levels to ensure meeting customer needs while minimizing waste. Modern technology and WMS help optimize efficiency.

The process of finding and choosing reliable suppliers to purchase raw materials. It impacts product quality and supply chain efficiency.

Managing credit terms with suppliers and customers to ensure timely payments and a stable cash flow.

Creating a diverse network of suppliers to reduce risk and increase flexibility in the supply chain.

Automating the ordering, payment, and contract management processes through e-procurement platforms.

Utilizing big data analytics to evaluate supplier performance and make informed procurement decisions.

A concept that focuses on creating value at each stage of production and distribution, from design to after-sales service.

The value chain encompasses both creative and strategic elements to enhance a product's value.

Each activity in the value chain must add value to the product.

The value chain helps businesses identify key strategic activities needed for success.

The value chain emphasizes continuous innovation and improvement in all stages.

Focuses on creating value by adding worth to a product at each step.

Focuses on the operations and execution of activities to get products to customers efficiently.

The value chain involves creative and strategic elements, while the supply chain focuses primarily on operational execution.

A complex network connecting organizations, people, technologies, and activities to bring products from suppliers to customers.

It's the core of supply chain management, encompassing planning, organizing, and controlling all operations to ensure smooth flow of goods and services from suppliers to customers.

These are the businesses that provide raw materials or components for a product, like the lumber mill for a furniture manufacturer.

These are the organizations that transform raw materials into final products, like factories that produce cars or phones.

These are the facilities where goods are stored and managed before being distributed to customers.

These are the routes products take to reach customers, including online retailers, physical stores, or direct delivery.

They are the ultimate recipients of the products or services, such as individuals, businesses, or organizations.

This involves transporting products between different stages in the supply chain, using trucks, trains, ships, planes, or a mix of methods.

A production strategy focusing on producing items only when needed, eliminating unnecessary inventory, minimizing waste, and reducing storage costs. Requires close coordination with suppliers and customers.

A management approach emphasizing continuous improvement of product quality and operational efficiency. Achieved through close collaboration between departments and customer feedback.

A pioneer in implementing JIT and TQM, the Toyota Production System (TPS) has made Toyota one of the most efficient automakers globally. Reduced production time and defects significantly.

Re-engineering a company's business processes to reduce costs and focus on core competitive capabilities for long-term advantages.

The management of the entire process from suppliers to customers, optimizing the entire system for efficiency and effectiveness.

A company that successfully implemented BPR to focus on core capabilities of aircraft engines and healthcare equipment. This resulted in increased production efficiency and cost reduction.

The process of optimizing the entire system, from suppliers to customers, aiming to improve efficiency and effectiveness. More than just logistics, it involves integrated processes.

A company that successfully implemented BPR to focus on its core capabilities. BPR resulted in increased production efficiency and cost reduction.

The trade war between the US and China has led to restrictions on Chinese companies like Huawei and ZTE, preventing them from accessing essential technology and components from US suppliers. This has disrupted their production processes and caused a decline in output.

The war in Ukraine has disrupted global energy supplies, particularly natural gas, causing a surge in energy prices. This impacts production and transportation costs across various industries.

Both Russia and Ukraine are significant exporters of essential materials like wheat, sunflower oil, metals, and fertilizers. The war has disrupted these supply chains, leading to shortages and price hikes of these crucial commodities.

The war in Ukraine has forced manufacturers worldwide to contend with supply chain disruptions, rising raw material prices, and uncertainties in market demand. This creates challenges for businesses trying to maintain production and predict future needs.

Digital technologies, such as real-time tracking systems, allow businesses to monitor their goods throughout the supply chain. This enhances forecasting, enables flexible adjustments, and improves overall efficiency.

Companies are increasingly bringing manufacturing facilities closer to their markets to reduce transportation costs and improve responsiveness. This trend is known as reshoring.

Automation plays a vital role in the future supply chain by improving efficiency, reducing costs, and addressing labor shortages. Robots and automated systems can perform repetitive tasks with precision and speed.

Collaboration among supply chain partners is crucial for building a resilient and sustainable future. This includes enhanced information sharing, better responsiveness to disruptions, and the development of more sustainable practices.

The process of planning and controlling production activities to ensure products are made on time and meet customer needs. It involves balancing market demand, production capacity, and available resources.

The process of designing products that meet customer needs by considering aesthetics, functionality, durability, safety, and environmental standards.

The process of managing the physical infrastructure and equipment used in production, ensuring efficient operation. This includes maintenance, repair, upgrades, energy management, and waste control.

Robots designed to work safely alongside humans, improving productivity and accuracy in manufacturing tasks.

Using sensors and data analysis to monitor and optimize the production process in real time. This allows for better decision making and efficiency.

A technology that allows rapid prototyping and production of complex objects by building layer upon layer of material.

Using augmented reality to guide workers during assembly, maintenance, and quality inspection, improving efficiency and reducing errors.

The application of advanced technologies in manufacturing to improve efficiency, product quality, and cost effectiveness. These technologies include collaborative robots, IoT, 3D printing, and augmented reality.