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BUAD 331 Supply Chain Exam 1 questions & answers
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BUAD 331 Supply Chain Exam 1 questions & answers
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BUAD 331 Supply Chain Exam 1Supply chain management refers to: - correct answer ✔✔The management of up and downstream
relationships with suppliers and customers to deliver superior customer value at less cost to the supply
chain as a whole.
Name the ways that supply chain management creates value? - correct answer ✔✔Form, Time, Place
and Exchange
The "Great Divide" in SC occurs between: - correct answer ✔✔Demand focused activities and supply
focused activities
Which emerging megatrends will greatly challenge suppply change managers? - correct answer
✔✔Disruptive technology, talent requirements, and social changes
Supply chain management: - correct answer ✔✔Extends the linking and coordination of materials
management, manufacturing management and distribution upstream to suppliers and downstream to
customers.
A firm is a recognized cost leader but has a strategic goal to become a cost and service leader. What is
one initiative that could be planned and implemented to make this a reality? - correct answer ✔✔Offer
tailored, customized services to key customers
What part of the Supply Chain Operations Reference (SCOR) model involves turning the raw material into
a finished product? - correct answer ✔✔Make
Procurement, Conversion and Logistics are activities that must be done to fulfill the exchange
commitment by creating form, time and place value.
True or False? - correct answer ✔✔True
On the demand creation side, _____________ is concerned with determining and shaping long term
customer need, and innovating offerings to satisfy those needs. - correct answer ✔✔Marketing
, Downstream, the priority is to deliver the form, time, and ________ for a specific customer order. -
correct answer ✔✔Place
Which activity area in the supply chain is generally focused on productivity or "up time" and usually has
no visibility of customer service or inventory metrics? - correct answer ✔✔Make
Which of the following would be a metric for a senior level supply chain manager? - correct answer
✔✔Cash to Cash cycle
Changes in the business ____ and ____ help shift the focus of functional goals in the departments of a
business (finance, marketing, etc.) to total value creation for the enterprise. - correct answer ✔✔Reward
system and culture
Which of the following is NOT a way that supply chain management impacts ROI? - correct answer
✔✔Increasing advertising spend to increase demand
Suppose that a company called Futuristics, Inc hires you to work in Supply Chain Management. Your new
manager sets up a meeting to discuss the Surfers, Inc. account. The meeting opens with the manager
stating, "I just reviewed the financial report on Surfers, Inc. It really doesn't cost much to serve them,
does it?" Which of the following would be an appropriate response to the manager's statement? -
correct answer ✔✔Activity-based costing could better show us how much it really costs to serve Surfers,
Inc.
The Strategic Profit Model can be used to illustrate the impact of logistics and supply chain on ROA
(Return on Assets) by: - correct answer ✔✔Illustrating how varying components of Net Profit Margin and
Asset Turnover can lead to different values of the Return on Assets ratio
When benchmarking, ________ comparisons should be used if we are trying to determine if our process
can be performed better than we have before, while __________ comparisons should be used if we are
trying to determine industry competitiveness. - correct answer ✔✔internal, external
Traditional cost accounting procedures allocate costs to customers based upon: - correct answer ✔✔The
percent of total sales represented by each customer
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