49. Strategies to address supply chain risks include:
(I) risk avoidance.
(II) risk reduction.
(III) risk projection.
(IV) risk sharing.
I, II, and IV only
51. One of the biggest ethical risks in supply chain management is that the __________ supply chain member tends to be the one that suffers the blame and/or lost goodwill when something goes wrong.
53. It is especially the case for small businesses that closer interactions and increased agility make __________ relatively more attractive.
54. Which of these aspects of supply chain management are especially concerning to small business?
II, IV, and V only
55. Which of the following is not a goal of supply chain management?
lowest possible transportation cost
56. Logistics includes all of these except:
57. Small changes in consumer demand can result in large variations in orders placed because
58. RFID chips:
(I) are used to track goods in distribution
(II) are used to track job progress in production
(III) may provide special instructions to operators
(IV) can be used in inventory record keeping
I, II, and IV
59. Which of the following is not a benefit of RFID?
frequent deliveries of smaller shipments
60. A factor that makes it desirable for business organizations to actively manage their supply chains is:
61. Which of the following is not a benefit of effective supply chain management?
larger number of suppliers
62. Which of the following is not a measure of the reliability of the supply chain?
supply chain response time
63. The automatic identification of material is part of:
64. Which of the following is not an application of E-business?
universal product codes
65. Which of the following is an advantage of e-business?
(I) reduction of transaction costs
(II) shortened supply chain response time
(III) greater customer loyalty
I and II
66. Which of the following is a barrier to integration of separate organizations in the supply chain?
(I) conflicting objectives of the companies in the chain.
(II) different level of capacity of the companies in the chain.
(III) reluctance of the organizations in the chain to allow other organizations access to their data.
I and III
67. _________ has helped business concentrate on their core business.
68. Outsourcing followed by __________ is not simple.
69. The interface between the firm and its suppliers is:
70. The two types of decisions that are relevant to supply chain management are:
Tactical and operational
71. One important objective of purchasing is to:
be knowledgeable about new products
72. The purchasing cycle begins with:
receiving a requisition
73. Examination of the sources of supply for purchased parts or materials in order to improve performance is called:
74. Vendor analysis has the greatest potential for savings for items which have:
high annual cost-volume
75. Which of the following is not true of vendor analysis?
It involves an examination of the function of purchased parts or raw materials
76. Which of the following is not a performance driver?
77. Which of the following would not usually be a main factor in selecting a vendor?
78. Which of the following is part of the purchasing cycle?
(I) Purchasing selects a supplier.
(II) Orders from vendors are received.
(III) Purchasing receives a requisition.
I, II, and III
79. Which of the following is not a key consideration when a company chooses a supplier?
80. Which of the following is not a benefit of centralized purchasing?
quick response to local needs
81. The purchasing perspective of the supplier as a partner is characterized by:
one or a few suppliers
82. Vendor Analysis is the examination of the _________ of purchased materials
83. A system for inventory management involving multi-echelon warehouses is called:
84. Which of the following is a principle required for ethical behavior in purchasing?
(I) loyalty to employer
(II) justice to those you deal with
(III) faith in your profession
all of the above
85. The activity which begins with a request from within the organization is:
86. Our organization can obtain visibility to potential trading partners on the internet by
87. Real time information about product movement on store shelves could benefit from the use of:
radio frequency identification tags
88. The website and order fulfillment are essential features of:
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