Supply Chain Management Quiz
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Questions and Answers

What is the provision of service to customers before, during, and after a purchase called?

  • Logistics management
  • Product management
  • Purchase management
  • Customer service (correct)

    • Which of the following sequences correctly describes the logistics process of an organization?

  • Delivery to customers, acquisition of resources, transformation process
  • Transformation process, delivery to customers, acquisition of resources
  • Transformation process, acquisition of resources, delivery to customers
  • Acquisition of resources, transformation process, delivery to customers (correct)

    • What term describes the time that elapses between issuing a replenishment order and receiving the material in stores?

  • Set-up time
  • Idle time
  • Lead time (correct)
  • Cycle time

    • Why are seasonal stocks established?

    <p>To buffer seasonal produced goods</p> Signup and view all the answers

    The typical aim of the push to customer approach is to:

    <p>optimize the production process for cost and efficiency</p> Signup and view all the answers

    A 3PL:

    <p>is a Third Party Logistics Provider</p> Signup and view all the answers

    Which of the following are expected advantages of VMI for the vendor?

    <p>early recognition of fluctuation in demand</p> Signup and view all the answers

    Cross-Docking:

    <p>connects inbound and outbound logistics processes</p> Signup and view all the answers

    SCM design and SCM execution must primarily handle which of the following uncertainties?

    <p>Demand uncertainties</p> Signup and view all the answers

    What is an expected advantage of VMI for the buyer?

    <p>Fewer stock-outs with higher inventory turnover</p> Signup and view all the answers

    Study Notes

    Advantages of VMI

    • VMI for the buyer offers fewer stock-outs with higher inventory turnover and early recognition of fluctuation in demand.
    • VMI for the vendor offers optimization of production planning, closer customer ties and preferred status, and early recognition of fluctuation in demand.

    Logistics Sequence

    • The correct logistics sequence of an organization is acquisition of resources, transformation process, and delivery to customers.

    Logistics Terms

    • Lead time is the time that elapses between issuing replenishment order.
    • Cross-Docking targets the consolidation of goods and connects inbound and outbound logistics processes.
    • 3PL (Third Party Logistics Provider) typically offers contract logistics services and is not limited to warehousing in terms of business.

    Supply Chain Management

    • Seasonal stocks are established to buffer seasonal produced goods and cover demand peaks.
    • Actors that are not part of the supply chain community include competitors.
    • The typical aim of the push to customer approach is to enhance product and service quality, reduce costs of distribution, and optimize the production process for cost and efficiency.
    • SCM design and SCM execution must primarily handle demand uncertainties, exchange rate uncertainties, and supply uncertainties.

    Expected Advantages of VMI for the Buyer

    • VMI helps reduce stock-outs while increasing inventory turnover, ensuring that inventory levels are maintained at an optimal level.
    • This approach enables buyers to recognize fluctuations in demand earlier, allowing for proactive adjustments to their inventory management strategy.

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    Description

    Test your knowledge of supply chain management concepts, including inventory management, logistics, and customer service.

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