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BUAD 331 Exam 1 Questions with complete Solutions
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BUAD 331 Exam 1 Questions withcomplete Solutions
Supply Chain Management refers to:
A. The comprehensive management of networks of suppliers
B. The meaningful integration of service with customer fulfillment
C. The collaboration between operations and suppliers
D. 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
E. The procurement, movement, and storage of product and information
flows through the organization to maximize profit through cost-effective
order fulfillment - -d. 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
-How does Zara use its supply chain capabilities to generate competitive
advantage?
A. Stocking clothing far in advance of sales to ensure in-stock availability.
B. Buying new seasonal clothing lines in bulk to take advantage of volume
discounts from suppliers.
C. Speeding cycle times of new fashions from design to store shelf to ensure
the trendiest fashions.
D. Cycling seasonal clothinterm-0g trends using long-term predictions of
demand to lower costs for customers. - -C.Speeding cycle times of new
fashions from design to store shelf to ensure the trendiest fashions.
-How does supply chain management create value?
A. Form, time, place, exchange
B. Product, price, place, promotion
C. Cost, asset, capacity, integration
D. Responsiveness, productivity, reliability, delivery - -A.Form, time, place,
exchange
-The "Great Divide" in supply chain management occurs between:
A. suppliers and manufacturers
B. demand-generating activities and demand-fulfilling activities
C. sales and marketing activities
D. organizations and their customers - -B.demand-generating activities and
demand-fulfilling activities
-What megatrend will greatly challenge supply chain managers?
A.Disruptive technology
B.Talent/skills requirements
,C.Social changes
D.All of the above
E.None of the above - -D.All of the above
-Supply chain management refers to a relatively new business phenomenon:
A. The comprehensive management of a networks of suppliers.
B. The meaningful integration of service with customer fulfillment.
C. The collaboration between operations and suppliers.
D. The management of upstream and downstream relationships with
suppliers and customers to deliver superior customer value at less cost to
the supply chain as a whole.
E. The procurement, movement, and storage of product and information
flows through the organization to maximize profit through cost-effective
order fulfillment. - -D.The management of upstream and downstream
relationships with suppliers and customers to deliver superior customer
value at less cost to the supply chain as a whole.
-Which of the following is not an element of the integrated supply chain for
General Mills' Honey Nut Cheerios?
A.Dairy cow farmers
B.Oat farmers in Iowa
C.Union Pacific railroad that moves oats to distributors
D.General Mills manufacturing plants
E.Ted, who eats Honey Nut Cheerios every morning - -A.Dairy cow farmers
-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 achieve this goal?
A.Increase sales calls to all existing customers.
B.Increase capacity utilization to gain economies of scale.
C.Award larger employee bonuses to encourage more emphasis on selling.
D.Offer customized services to key customers.
E.Own every step of the supply chain instead of relying on external
customers. - -D.Offer customized services to key customers.
-Which economic utilities are associated with supply chain management?
A.Form, Time and Place
B.Exchange, Time and Place
C.Exchange, Time and Place
D.Form, Exchange and Time
E.Exchange, Time and Value - -A.Form, Time and Place
-Which economic reason is NOT a reason for students to buy textbooks on
Amazon.com?
A.Form
B.Time
, C.Place
D.Exchange - -A.Form
-Supply chain management:
A. emphasizes optimized advertising and promotion across the organization.
B. requires a high level of corporate input in inventory management and
production scheduling decisions.
C. extends the linking and coordination of materials management,
manufacturing management and distribution upstream to suppliers and
downstream to customers.
D. uses mergers and acquisitions across the supply chain integration to
better manage materials flow from suppliers and distribution of end products
to the customer. - -C.extends the linking and coordination of materials
management, manufacturing management and distribution upstream to
suppliers and downstream to customers
-Logistics/supply chain management is closely tied with marketing as it
typically fills which "P"?
A.Price
B.Place
C.Promotion
D.Player - -B.Place
-The separation between demand-focused activities and supply-focused
activities is sometimes referred to as:
A. suppliers and manufacturers
B. retailers and consumers
C. suppliers competing with each other
materials management and manufacturing
D. The Great Divide - -D.The Great Divide
-Two kinds of customers walk into the Grizzly Fly-Fishing Shop: college
freshmen taking a first-time class and high-end professional executives with
fishing experience. In order to deliver the most value to each of these
customers, John (the store owner) should:
A. focus on creating a supply chain that delivers the best average form, time
and place value at the lowest average cost.
B. focus on creating supply chains that deliver the specific form, time and
place utility that each customer segment is looking for, at a price that each
segment is willing to pay.
C. focus on building enough inventory of both high- and low-end gear, so that
he can satisfy either kind of customer who walks through the door.
D. focus on lowering per unit costs by purchasing his full range of gear at
high volumes. - -B.focus on creating supply chains that deliver the specific
form, time and place utility that each customer segment is looking for, at a
price that each segment is willing to pay
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