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BUS 391 Quiz 3

T/F: It can take the FDA months to track a tainted food through the food chain
True
All of the following are included in the food supply chain EXCEPT:

a. stores and restaurants
b. packers and distributors
c. truckers
d. All of the above
e. None of the above

e. None of the above

The food chain moves from stores and restaurants to distributors, packers, truckers, processors, and farmers

T/F: The food chain moves from stores and restaurants to distributors, packers, truckers, processors, and farmers
True
The _____________ consists of all parties involved, directly or indirectly, in obraining raw materials or a product
supply chain
The food supply chain is missing a uniform system of _______ keeping that tracks each of the specific ingredients and where they began and ended
record
Supply chain management is the management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and __________ profitability
corporate
The FDA does not require ________ to keep records of where food is sourced in the food supply chain
distrubutors
T/F: The average company spends nearly half of every dollar that it earns on production
True
The supply chain has three main links. First, materials flow from suppliers and their “_________” suppliers at all levels; Second, _________ of materials into semifinished and finished products through the organization’s own production process; Third, _________ of products to customers and their “downstream” customers at all levels
upstream; transformation; distribution
T/F: Supply Chain Management (SCM) has not been able to improve companies’ forecasting abilities over the last few years
False

SCM has significantly improved companies’ forecasting abilities over the last few years

T/F: Supply chain management (SCM) improves ways for companies to find the raw components they need to make a product or service, manufacture that product or service, and deliver it to customers
True
___________ is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers. During this step, companies must be able to receive orders from customers, fulfill the orders via a network of warehouses, pick transportation companies to deliver the products, and implement a billing and invoicing system to facilitate payments
Logistics
In the Basics of Supply Chain, a company must have a ________ for managing all the resources that go towards meeting customer demand for products or services. It is crucial to develop a set of metrics to monitor the supply chain so that it is efficient, costs less, and delivers high quality and value to customers
plan
In the Basics of Supply Chain, companies must carefully choose reliable ________ that will deliver goods and services required for making products. Companies must also develop a set of pricing, delivery, and payment processes and create metrics for monitoring and improving the relationships
suppliers
In the ‘Make’ step during the basics of Supply Chain, companies ___________ their products or services. This can include scheduling the activities necessary for production, testing, packaging, and preparing for delivery. This is by far the most metric-intensive portion of the supply chain, measuring quality levels, production output, and worker productivity
manufacture
Typically, the most problematic step in the supply chain is:

a. Plan
b. Source
c. Make
d. Deliver
e. Return

e. Return

Return is typically the most problematic step in the supply chain. Companies must create a network for receiving defective and excess products and support customers who have problems with delivered products

T/F: Information Technology’s (IT) primary role is to create integrations or tight process and information linkages between functions within a firm
True
IT factors driving Supply Chain Management include all of the following EXCEPT:

a. Visibility
b. Speed
c. Consumer Behavior
d. Competition
e. None of the above

e. None of the above

All of these are factors driving SCM

T/F: increased competition makes any organization that is ignoring its supply chain at risk of becoming obsolete
True

This is part of the competition factor which drives SCM

Supply chain ________ is the ability to view all areas up and down the supply chain
visibility
In term of supply chain visibility, the __________ effect occurs when distorted product demand information passes from one entity to the next throughout the supply chain
bullwhip
T/F: Supply chain visibility allows organizations to increase the bullwhip effect
False

Supply chain visibility allows organizations to eliminate the bullwhip effect

___________ software generates demand forecasts using statistical tools and forecasting techniques
Demand planning
What is a current or existing system that will become the base for upgrading or integrating with a new system?

a. Middleware
b. Legacy system
c. Enterprise system
d. All of the above
e. None of the above

b. Legacy system
There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you build relationships with suppliers to produce raw materials?

a. Plan
b. Source
c. Make
d. Deliver
e. Return

b. Source
There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you plan for transportation of goods to customers?

a. Plan
b. Source
c. Make
d. Deliver
e. Return

d. Deliver
There are five basic supply chain activities a company undertakes to manufacture and distribute products. Which of the following occurs when you manufacture products and create production schedules?

a. Plan
b. Source
c. Make
d. Deliver
e. Return

c. Make
Which of the following would you find farthest downstream in a typical supply chain?

a. Distributor
b. Retailer
c. Customer’s customer
d. Supplier’s supplier
e. None of the above

c. Customer’s customer
Which of the following would you find farthest upstream in a typical supply chain?

a. Distributor
b. Retailer
c. Customer’s customer
d. Supplier’s supplier
e. None of the above

d. Supplier’s supplier
___________________ (EAI) connects the plans, methods, and tools aimed at integrating separate enterprise systems
Enterprise Application Integration
Several different types of software that sit between and provide connectivity for two or more software applications to achieve integration may be referred to as
Middleware
What is the ability to view all areas up and down the supply chain?

a. Bullwhip effect
b. Demand planning software
c. Supply chain visibility
d. Supply chain execution software
e. None of the above

c. Supply chain visibility
T/F: The customers’ customer is upstream in the supply chain
False

The customers’ customer is downstream in the supply chain

What is the set of processes that plans for and controls the efficient and effective transportation and storage of supplies from suppliers to customers?

a. Supply chain execution
b. Logistics
c. Demand planning
d. All of the above
e. None of the above

b. Logistics
What is it called when distorted product demand information passes from one entity to the next throughout the supply chain?

a. Bullwhip effect
b. Demand planning software
c. Supply chain planning software
d. Supply chain execution software
e. None of the above

a. Bullwhip effect
Which of the following is not one of the main links in the supply chain?

a. Materials flow from suppliers and their upstream suppliers at all levels
b. Transformation of materials into semifinished and finished products, or the organization’s own production processes
c. Distribution of products to customers and their downstream customers at all levels
d. Materials flow from customers and their downstream customers at all levels
e. None of the above

d. Materials flow from customers and their downstream customers at all levels
Which of the following is NOT one of the five basic components of supply chain management?
a. Plan
b. Source
c. Cost
d. Deliver
e. None of the above
c. Cost

Plan, source, make, deliver, and return are the five components of SCM

Today, SCM systems focus on extending beyond an organization’s four walls to influence:

a. Suppliers
b. Suppliers’ suppliers
c. Customers’ customers
d. All of the above
e. None of the above

d. All of the above
What does the average company spend on production needs?

a. Almost 10 percent of every dollar that it earns
b. Almost 20 percent of every dollar that it earns
c. Almost 40 percent of every dollar that it earns
d. Almost 50 percent of every dollar that it earns
e. None of the above

d. Almost 50 percent of every dollar that it earns

The average company spends nearly half of every dollar that it earns on production needs

T/F: SCM efforts extend beyond an organization’s four walls to influence the entire supply chain including customers, customers’ customer, suppliers, and suppliers’ supplier
True
Which of the following is the top reason why executives are using SCM to manage extended enterprises?

a. Inventory reductions/improvements
b. Productivity improvements
c. Cost control/savings
d. Improved visibility into demand/supply
e. None of the above

c. Cost control/savings

Cost control/savings is the number one reason why executives are using SCM to manage extended enterprises

All of the following are factors driving supply chain management EXCEPT:

a. Visibility
b. Speed
c. Customers
d. Competition
e. None of the above

c. Customers
Which of the following statements is accurate?

a. DSSs assist decision makers in the design and operation of integrated supply chains
b. DSSs identify opportunities for improvements across the supply chain
c. DSSs identify opportunities for improvement beyond the intuition and insights of even the most experience managers
d. All of the above
e. None of the above

d. All of the above
DSSs allow managers to examine performance and relationships over the supply chain and among:

a. Suppliers
b. Transportation options
c. Other factors that optimize supply chain performance
d. All of the above
e. None of the above

d. All of the above
Which of the following is the first principle of supply chain management?

a. Customize the logistics network and focus intensively on the service requirements
b. Listen to signals of market demand and plan accordingly
c. Segment customers by service needs and then tailor services to those particular segments
d. All of the above
e. None of the above

c. Segment customers by service needs and then tailor services to those particular segments
All of the following are principles of supply chain management EXCEPT:

a. Customize the logistics network and focus intensively on the service requirements
b. Listen to signals of market demand and plan accordingly
c. Segment customers by service needs and then tailor services to those particular segments
d. Make the sale to suppliers
e. None of the above

d. Make the sale to suppliers

Make the sale to the suppliers is part of the SCM industry best practices

All of the following are SCM industry best practices EXCEPT:

a. Listen to signals of market demand and plan accordingly
b. Wean employees off traditional business practices
c. Be future oriented
d. Make the sale to suppliers
e. None of the above

a. Listen to signals of market demand and plan accordingly

Listen to signals of market demand and plan accordingly is one of the seven principles of supply chain management

Which of the following is the first SCM industry best practice?

a. Be future oriented
b. Listen to signals of market demand and plan accordingly
c. Wean employees off traditional business practices
d. All of the above
e. None of the above

e. None of the above

Make the sale to the suppliers is part of the SCM industry best practices

Customer Relationship Management enables companies to do which of the following:

a. Provide better customer service and make call centers more efficient
b. Cross sell products more effectively and help sales staff close deals faster
c. Simplify marketing and sales processes
d. Discover new customers and increase customer revenues
e. All of the above

e. All of the above
T/F: As the business world increasingly shifts from customer-focus to product-focus, organizations recognize that treating existing customers well is a good source of profitable and sustainable revenue growth
False

As the business world increasingly shifts from product-focus to customer-focus, most organizations recognize that treating existing customers well is the best source of profitable and sustainable revenue growth

Which systems are more important to an organization:

a. Only front-office
b. Only back-office
c. Both front-office and back-office
d. Neither front-office or back-office is more important that the other
e. None of the above

c. Both front-office and back-office

Both, one cannot function without the other

All of the following are examples of front-office systems EXCEPT:

a. Customer service
b. Data warehouse
c. Sales
d. Billing
e. None of the above

b. Data warehouse

Data warehouse is an example of back-office systems

T/F: Operational CRM supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers
False

This is the definition of Analytical CRM

CRM is both a(n) ______________ and ______________
technology; strategy
Traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers are supported by ______________ CRM
operational
An organization can identify its customers across applications by using CRM ____________ technologies
reporting

Reporting helps an organization identify its customers across applications

CRM ____________ technologies is what an organization is performing when it asks questions such as “why was revenue so high?”

a. reporting
b. analyzing
c. predicting
d. All of the above
e. None of the above

b. analyzing
An organization is applying CRM ____________ technologies when it asks questions such as “which customers are at risk of leaving?”

a. reporting
b. analyzing
c. predicting
d. All of the above
e. None of the above

c. predicting
Which of the following represents operational CRM?

a. Supports traditional transactional processing
b. Supports day-to-day front-office operations
c. Supports operations that deal directly with the customers
d. All of the above
e. None of the above

d. All of the above
What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers?

a. Analytical CRM
b. Operational CRM
c. Personalization
d. All of the above
e. None of the above

a. Analytical CRM
What can analytical CRM modeling tools discover?

a. Identify opportunities for expanding customer relationships
b. Identify opportunities for cross-selling.
c. Identify opportunities for up-selling.
d. All of the above
e. None of the above

d. All of the above

Analytical CRM modeling tools can identify opportunities for cross-selling, up-selling, and expanding customer relationships

What is the formula that an organization can use to find its most valuable customers
RFM: Recency, Frequency, Monetary value
What is the term that defines how much a customer spends on each purchase?

a. Recency
b. Frequency
c. Monetary value
d. Reporting
e. None of the above

c. Monetary value

Monetary value is the term that defines how much a customer spends on each purchase

T/F: CRM is a technology based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future
False

CRM is a business philosophy, not a technology, based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future

T/F: The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its suppliers
False

The primary difference between operational CRM and analytical CRM is the direct interaction between the organization and its customers

CRM allows an organization to accomplish all of the following EXCEPT:

a. Provide better customer service
b. Make call centers more efficient
c. Complicate marketing and sales processes
d. Help sales staff close deals faster
e. None of the above

c. Complicate marketing and sales processes

CRM allows an organization to simplify marketing and sales processes

What is the top CRM business driver?

a. Inventory control
b. Increase revenues
c. Competitive advantage
d. Automation/productivity/efficiency
e. None of the above

d. Automation/productivity/efficiency
Which of the following is not one of the CRM business drivers?

a. Inventory control
b. Increase revenues
c. Define information needs and flows
d. All of the above
e. None of the above

c. Define information needs and flows

Define information needs and flows is not a CRM business driver, it is a CRM success factor

Analytical CRM tools can slice-and-dice customer information to create made-to-order views of:

a. Customer value
b. Customer spending
c. Customer product affinities
d. All of the above
e. None of the above

d. All of the above

Analytical CRM tools can slice-and-dice customer information to create made-to-order views of customer value, spending, product affinities, percentile profiles, and segmentations

What most likely occurs when a Web site can know enough about a person’s likes and dislikes that it can fashion offers that are more likely to appeal to that person?

a. Operational CRM
b. Analytical CRM
c. Personalization
d. All of the above
e. None of the above

c. Personalization
T/F: Clearly communicate the CRM strategy is the first CRM industry best practice
True
Which of the following is NOT a CRM industry best practice?

a. Define information needs and flows
b. Build an integrated view of the customer
c. Provide better customer service
d. Implement in iterations
e. None of the above

c. Provide better customer service

Provide better customer service is what CRM allows an organization to accomplish, not a CRM industry best practice

What is the term that identifies how often a customer purchases items?
Frequency
What is another term that represents CRM analysis technologies that help organizations segment their customers into categories such as best and worst customers?

a. Customer identification
b. Customer segmentation
c. Customer frequency
d. All of the above
e. None of the above

b. Customer segmentation
T/F: The New York Times has spent the last decade researching core customers to find similarities among groups of readers
True
T/F: Back-office operations deal directly with the customer
False
T/F: When a user enters or updates information in one ERP module, it is immediately and automatically updated throughout the entire system
True
T/F: To qualify as an ERP system, it must be flexible, modular and open, and comprehensive, and it must extend beyond the company
True
Accounting, finance, logistics, and production are the primary users of _________ systems
ERP
Which of the following describes ERP systems?

a. ERP systems provide a foundation for collaboration between departments
b. ERP systems enable people in different business areas to communicate
c. ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization’s performance
d. All of the above
e. None of the above

d. All of the above
What is at the heart of any ERP system
Database
To qualify as a true ERP solution, the system must be __________, modular, and open and extend beyond the company
flexible
Which of the following is a reason for ERP’s explosive growth?

a. ERP is a logical solution to the mess of incompatible applications
b. ERP addresses the need for global information sharing and reporting
c. ERP is used to avoid the pain and expense of fixing legacy systems
d. All of the above
e. none of the above

d. All of the above
Which of the following occurs when everyone involved in sourcing, producing, and delivering the company’s product works with the same information?

a. Eliminates redundancies
b. Cuts down wasted time
c. Removes misinformation
d. All of the above
e. None of the above

d. All of the above
What are several different types of software that sit in the middle of and provide connectivity between two or more software applications?

a. Middleware
b. Enterprise application integration middleware
c. Automated business process
d. Ebusiness infrastructure
e. None of the above

a. Middleware
What is the key word in ERP?
Enterprise
Which of the following occurs when everyone involved in sourcing, producing, and delivering the company’s product works with the same information?

a. Eliminates redundancies
b. Cuts down wasted time
c. Removes misinformation
d. All of the above
e. None of the above

d. All of the above
What represents a new approach to middleware by packaging together commonly used functionality, such as providing prebuilt links to popular enterprise applications, which reduces the time necessary to develop solutions that integrate applications from multiple vendors?

a. Middleware
b. Enterprise application integration middleware
c. Automated business process
d. e-business infrastructure
e. None of the above

b. Enterprise application integration middleware
Who are the primary users of SCM systems?

a. Sales, marketing, customer service
b. Accounting, finance, logistics, and production
c. Customers, resellers, partners, suppliers, and distributors
d. All of the above
e. None of the above

c. Customers, resellers, partners, suppliers, and distributors
What are the primary business benefits of an ERP system?

a. Sales forecasts, sales strategies, and marketing campaigns
b. Market demand, resource and capacity constraints, and real-time scheduling
c. Forecasting, planning, purchasing, material management, warehousing, inventory, and distribution
d. All of the above
e. None of the above

c. Forecasting, planning, purchasing, material management, warehousing, inventory, and distribution
In Excel, a _______ table is used to summarize a spreadsheet containing large amounts of data
pivot
In the Excel, the function that will count the number of non-empty cells is the:

a. COUNT
b. COUNTIF
c. COUNTA
d. FREQUENCY
e. None of the above

c. COUNTA
In Excel, the ________ function will find the rank of any value in any array (ex. the 5th largest value)
LARGE
What is the Excel function that would be used to count the number of occurrences of the word “yes” in an array?

a. COUNTA
b. COUNT
c. IF
d. COUNTIF
e. None of the above

d. COUNTIF
Which of the following is the name of the financial function that calculates the amount that will go toward principal for a particular period in a mortgage?

a. PMT
b. PPMT
c. IPMT
d. FV
e. None of the above

b. PPMT

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