Exam (elaborations)

BUAD 331 FINAL EXAM QUESTIONS WITH ALL CORRECT ANSWERS LATEST 2024 UPDATES

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BUAD 331 FINAL EXAM QUESTIONS
WITH ALL CORRECT ANSWERS
LATEST 2024 UPDATES

Infrastructure- Physical and Organizational Structures for an economy to function (road,
rail, air, etc.) (World Economic Forum(

Competency- Strengths or advantage of supply chain support businesses in the region
(goods/services and supplier availability) (World Bank Logistics/ Forum GCI)

EPIC Regional Assesments - Answer--East Asia; strong for locating supply chain
operations due to investment in manufacturing in the region, strong economies,
protection needs improvement
-South Asia; *India, Bangladesh, Pakistan- key players in these less developed nations,
growing economies, foreign investment is constrained, poor infrastructure
-Southeast Asia; lacking in infrastructure and politics, success because they are near
the sea and it's a smaller region
- Australia; cultural distance from Asia, regulatory environment, efficient, high political
stability, vast mineral resources and highly skilled workforce
-Middle East & North Africa; very strong in religious tradition, differential scores because
different across their region, longstanding, huge gateway for distributed/imported goods,
transportation operations, heavily in roadways and railways
-Subsaharan Africa; disintegrated supply chains, growing markets and trade
relationship, low labor costs
-Western Europe; Well established marketplace and s.c. operations in the world, strong
ports for logistics, telecommunications, strong sustainability and strong road systems
- Central/Eastern Europe; Diversity is high, shortage of logistics and technical skills,
needs more basic IT skills
- North/Central America; best supply chain region in the world, affluent consumer
centers, strong political system, high labor, land and tax costs
-South America; ample raw materials, issues in political system, geography makes it
hard for trade, large growing market

Perils of Global Supply Chains - Answer-Extended Global Supply Chain; offshore
contract manufacturing, outsourced customer service, long lead times, supply chain
disruptions; all part of new paradigm in global trade risk in global environment

-Political Risks; undergoing geopolitical changes
-Piracy, theft, smuggling; theft/smuggling in major trade lanes and ports, currently in
highest state of piracy/ high rates
-Operational Risks; rail car, air freight, motor freight, bridges and infrastructure issues

,Other disruptions: oil explosion/leaks, earthquake/tsunamis, car manufacturing issues,
and pharmaceutical issues

Supply Chain Risk Management Process - Answer-1. Identify Sources of SC Risk- new
product/innovation--> plan, source, make, deliver
2. Quantify Risk Exposure-
impact x likelihood x preparedness = exposure
3. Categorize risk by exposure score
4. Build Action Plans to Respond to Each Risk Category-
risk mitigation responses; postpone form, time and or place, build speed into supply
chain processes, improve up/downstream visibility-- alleviate exposure to risk
5.Develop a Supply Chain Risk Management Culture; cross functional governance
structure, connection to alignment with commercial leadership, linked to risk
management

Securing Global Supply Chain Flows - Answer-Primary Threats to security- smuggling,
cargo theft and terrorism
Practices include; preventative nature, establish a standard operating procedure for ALL
transactions, comprehensive, driver accountability

Tracking Mega Trends - Answer-4 Major Themes/ Game Changers-
-Relationship Management; Customer Relationship, Collaboration, and Virtual
Integration
-Strategy and Performance; Value Based Management, Agile Strategy, and World
Class Metrics
- Planning and Execution; Process Integration and Demand Management
-Talent and information; Knowledge based learning and Information Visibility

Strategy and Performance - Answer-Value Based Management; Managements
perspective on creating value through the supply chain
cost based-->differentiated service--> total value orientation

Agility; How well the SC strategy adapts tactics and operations to environmental
changes
incremental--> responsive --> transformative

Measurement system; the goal setting and performance measurement systems used to
track SC value creation
functional cost--> service and revenue--> relevant value

Planning and Execution - Answer-Techniques and processes used to plan supply chain
operations to optimize value

Historical forecasting-->customer "end casting"--> demand shape

, Process Integration; scope of coordination, collaboration and communication efforts
across functional areas
functional--> horizontal--> systemic

Information Visibility - Answer-Timeliness of Information sharing across the supply chain
-Data Acquisitions--> data visualization --> data driven, decision making
-Hoarding--> Sharing--> Synthesis

Talent Management; perspective of developing supply chain talent
-Job training-->knowledge development--> career shapping

Relationship Management - Answer-Customer connectedness; how the supply chain
interacts with customers
-monolithic--> stratification--> value co-creation

Activity Scope; conducted in house vs. outsourced supply chain
-vertical integration--> virtual integration--> flexible network

Relationship Governance; how firms manage external firm relationships
-adversarial--> collaborative--> vested

The Near Future - Answer-5 new trends:
1. Value transformation- prioritizing/ assigning resources better
2. Autonetic Technology- adopting "smarter" technologies
3. Global Optimization- view some on global levels and other on smaller/regional
4. Risk Prognosis- leverage business intelligence to reduce supply chain risk
5. Prostainability- design own designs to seek relevant outcomes

Which is not an example of a supply chain disruption for Toyota? - Answer-A
competitors sales cause Toyota's forecasted demand to drop.

What is the best way to categorize risk? - Answer-Calculate exposure score using both
strategic and financial dimensions

Which of the following is not an effective way to develop a risk management culture? -
Answer-Escalate issues of non-compliance

What are the four steps in quantifying risk exposure? - Answer-Determine the impact of
the risk, likelihood of the risk. status of action to reduce the risk, and exposure based on
impact, likelihood and preparedness.

Paradigm Change for business competition - Answer-Form, time, place, exchange -->
Creating value

Porter Chain Value - Answer-Inbound logistics, operations, outbound logistics, sales,
service (primary activities)

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Exam (elaborations)

BUAD 331 FINAL EXAM QUESTIONS WITH ALL CORRECT ANSWERS LATEST 2024 UPDATES

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