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BUAD 331 UTK Final Exam with Verified Answers
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BUAD 331 UTK Final Exam with Verified AnswersWhat are the four steps in quantifying risk exposure?A. Create a plan, enable sourcing efforts,
meet regulatory standards on quality and improve flexibilityB. Determine the impact of the
risk, likelihood of the risk, status of actions taken to reduce the risk, and exposure based on
impact, likelihood and preparednessC. Determine resources for high risk mitigation, forecast
mitigation effectiveness, create a cross-functional governance structure and incorporate
effective KPIsD. Determine which areas are ripe for theft, enable theft tracking devices,
involve government agencies to solve problems, continue to do business in these areas
Correct Ans-B. Determine the impact of the risk, likelihood of the risk, status of actions
taken to reduce the risk, and exposure based on impact, likelihood and preparedness
Improving network visibility is a key element of risk management. Which of the following
provides an example of this?A. Reducing process variabilityB. Implementing a Six Sigma
methodologyC. Giving a high priority to supply chain risk managementD. Using an information
system that provides information about an inventory shortage Correct Ans-D. Using an
information system that provides information about an inventory shortage
ABC Company anticipates a pending event and is able to re-route product flow to avoid being
disrupted. ABC Company supply chain exhibitsA. resiliency.B. continuity.C. both resiliency and
continuity. Correct Ans-B. Continuity
Littlejohn Company sources a critical component from a supplier in China and a supplier in
Mexico. What type of continuity/resiliency capability does this best represent?A. Risk
assessmentB. Warning capabilitiesC. Mitigation capabilitiesD. Contingency capabilitiesE. Both
A and C Correct Ans-C. Mitigation capabilities
, BUAD 331 UTK Final Exam with Verified Answers
Cahill Company has found out that the shipment of Component # 127 will not be arriving at
their plant. Shop floor operators are pulling the needed Component #127 out of existing
stock. What phase of disruption best describes the current situation?A. Pre-disruption
phaseB. Pre-due date phaseC. Buffer phaseD. Domino phase Correct Ans-C. Buffer phase
Which framework is most useful for companies wanting to build an initial assessment of the
general operating environment in a country? A. EPICB. CAGEC. SWOTD. FARM Correct Ans-
A. EPIC
What type of company will likely work with international supply chains? A. Large
multinational companyB. Regional companyC. Small businessD. All of the above Correct
Ans-D. All of the above
The _______ was created as an international agency to oversee the new exchange rate system
and to help bridge difficulties and financial crises in individual member companies.A. GATTB.
WTOC. ITCD. IMF Correct Ans-D. IMF
Products that are sold outside of normal distribution channels are referred to as
"____________".A. White MarketsB. Black MarketsC. Gray MarketsD. Blue Markets
Correct Ans-C. Gray Markets
Which is not an example of a supply chain disruption for Toyota?A. Toyota enacting a
voluntary recallB. The 2011 earthquake that forced Toyota and Honda to stop productionC.
The truck carrying a small load of Corollas being stolen from a truck stopD. A competitor's
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