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Chapter 1 CV

True
The first decade of the twenty-first century was a period of rapid change for organizations, especially businesses.
True
A key element in Wal-Mart’s ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system.
False
Globalization has had little effect on consumers
False
Supply and demand has become less volatile as managers become more adept at controlling the elements
False
Outsourcing is a fairly new concept
True
SAB should examine their off-shore purchasing policy, even though the products are sourced from the U.S
False
It is expected that some or all of the BRIC countries (Brazil, Russia, India & china) will replace the so-called VISTA countries (Vietnam, Indonesia, S. Africa, Turkey and Argentina) as low cost producers of various products and services.
False
The world economy still favors the United States and European countries, even though China and India can participate in the global economy much more readily
True
It is predicted that social networks such as Facebook and Twitter will influence supply chains because of their impact on customer demand and the speed of information transfers.
False
The U.S. transportation system was deregulated in the 1930s and 1940s in response to economic conditions and World War 2
True
Even though there are references to supply chain management in the 1980s, SCM did not capture the attention of senior-level management until the 1990s
False
Supply chain managers no longer need to worry about suboptimization in light of today’s technology.
They buy products produced by others
Most retailers are essentially supply chain companies since
Environmental concerns
Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape?
Obtaining materials, parts, and products from other companies.
Outsourcing involves
We no longer wait for information to be “pushed out to us”
Some individuals describe the current consumer as the “click here” generation because
Of the increase in two-career families and single-parent households
The demographics of our society has changed because
Is developed from the previous Physical Distribution concept.
The Supply Chain concept
Combines inbound logistics with the outbound logistics of physical distribution.
Logistics, in its simplest form
Maintaining the visibility of inventory
One of the major challenges of supply chain management is
None of these answers
Which of these flows only one way as illustrated in Figure 1-4?
None of these answers
Traditionally, information has been viewed as flowing in the opposite direction of products, that is, from the market/customer back to the wholesalers, manufacturers, and vendors
Demand flow
One of the four supply chain flows in Figure 1 – 8 that has received increased attention from supply chain managers due to the growth in technology is:
Inventory carrying costs
The challenge to develop and sustain an efficient and effective supply chain(s) requires organizations to address a number of issues. Which is not included?
Stores
Which of the following is not part of the Supply Chain network?
All of these answers
Complexity in the supply chain is caused by
The importance of cost and value at the very end of the supply chain.
Cost/value refers to
Lower-level metrics in an organization must connect directly to the high-level performance to achieve goals.
Performance measurement is importan because
The right product to the right place
A critical outcome of the supply chain is to deliver

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