BUAD 331 FINAL EXAM REVIEW With Questions And Answers
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Course
BUAD 331 FIN
Institution
BUAD 331 FIN
Name the major challenges of Global SCM - CORRECT ANSWER-Risk, raw material
scarcity, complex governmental rules and regulations, environmental sustainability,
coordination with global partners, cost pressure, local and regional consumer
preferences
What dimension of the country assessment f...
BUAD 331 FINAL EXAM REVIEW With
Questions And Answers
Name the major challenges of Global SCM - CORRECT ANSWER-Risk, raw material
scarcity, complex governmental rules and regulations, environmental sustainability,
coordination with global partners, cost pressure, local and regional consumer
preferences
What dimension of the country assessment framework involves the strength of supply
chain support business in the region? - CORRECT ANSWER-Competency
T/F: Supply chain solutions that work in one region can be repeated as long as you
have the technology systems to connect all supply chain partners - CORRECT
ANSWER-False
Which is not an example of a supply chain disruption for Toyota?
A. Toyota enacting a voluntary recall
B. The 2011 earthquake that forced Toyota and Honda to stop production
C. The truck carrying a small load of Corollas being stolen from a truck stop
D. A competitor's sales cause Toyota's forecasted demand to drop - CORRECT
ANSWER-D. A competitor's sales cause Toyota's forecasted demand to drop
What is the best way to categorize risk? - CORRECT ANSWER-Calculate exposure
score using both strategic and financial dimensions
Which of the following is not an effective way to develop risk management culture?
A. KPIs linked to risk management
B. Cross functional governance structure
C. Escalate issues of non-compliance
D. Connection to commercial leadership - CORRECT ANSWER-C. Escalate issues of
non-compliance
What are the 4 steps in quantifying risk exposure? - CORRECT ANSWER-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 variability
B. Implementing a Six Sigma methodology
C. Giving a high priority to supply chain risk management
,D. Using information system that provides information about an inventory shortage -
CORRECT ANSWER-D. Using information system that provides information about an
inventory shortage
For which set of products is risk mitigation planning most important?
A. High end electronics
B. Weaponizable products
C. High Value Pharmaceuticals
D. All of the above - CORRECT ANSWER-D. All of the above
Supply chain management refers to: - CORRECT ANSWER-the management of up and
downstream relationships with supplier and customers to deliver superior customer
value at less cost to the supply chain as a whole
How does supply chain management create value? - CORRECT ANSWER-Form, time,
place, exchange
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 - CORRECT ANSWER-D. All of the above
The "Great Divide" in supply chain management occurs between: - CORRECT
ANSWER-demand-generating activities and demand-fulfilling activities
Should all customers receive the same level of customer service? - CORRECT
ANSWER-No
What are the 3 segmentations of customers to have total relevant value? - CORRECT
ANSWER-Efficiency, Effectiveness, Customization
Efficiency relates to______ for customers - CORRECT ANSWER-low cost & willingness
to accept less than optimal form, time, and place value in exchange for lower prices
Effectiveness relates to______ for customers - CORRECT ANSWER-greater levels or
product/service variation
Customization relates to______ for customers - CORRECT ANSWER-products,
service, or delivery criteria tailored to their needs and preferences
The supply chain value proposition framework represents the interactions between: -
CORRECT ANSWER-Revenues, costs, and assets
ROA (return on assets) = - CORRECT ANSWER-Net Income/ Total Assets
, Value is created for an organization through effectively influencing and managing what
3 important components? - CORRECT ANSWER-Revenue, costs, and assets
Define perfect order concept - CORRECT ANSWER-used to provide a customer
focused perspective on supply chain performance measurement
Define demand planning - CORRECT ANSWER-the process by which customer
demand for upcoming time periods is estimated at appropriate levels of detail to allow
the business to make necessary preparations
Define supply planning - CORRECT ANSWER-this process takes the demand forecast
and plans what materials need to be purchased from suppliers over the coming periods
ROI (return on investment) = - CORRECT ANSWER-Net income/ investments
Define cash-to- cash cycle - CORRECT ANSWER-a measure of the time is takes for
money that is spent creating form, time, and place value to be collected as revenue
from customers
Cash-to-Cash = - CORRECT ANSWER-(number of days held in inventory + number of
days of accounts receivable) - number of days of accounts payable
Define acceleration (in terms of cash flow) - CORRECT ANSWER-an ability to capture
greater amounts of cash that go to the bottom line of an organization in shorter periods
of time
Define procurement - CORRECT ANSWER-the strategic approaches & processes used
to secure needed inputs into the organization to create relevant value
Define logistics - CORRECT ANSWER-forward and reverse flow of information,
products, and funds
Modes of transportation: - CORRECT ANSWER-Rail, Motor, Water, Pipeline, Air
Transportation basic role: - CORRECT ANSWER-the activity that physically connects
the various functions and organizations across the end-to-end supply chain
Warehousing basic role: - CORRECT ANSWER-- buffer differences between supply
and demand
- provide time and place value
- provide ability to consolidate multiple shipments
- provide break bulk ability
- customize products close to customer before delivery
Manufacturing creates value through: - CORRECT ANSWER-form
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