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What is the primary reason that time to market has decreased over the past two decades...
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A Supply Chain is best described by which of the following...
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Supply Chain Test 1
| Question | Answer |
|---|---|
| What is the primary reason that time to market has decreased over the past two decades... | Information Technology |
| A Supply Chain is best described by which of the following... | A group of collaborative companies |
| Which of the following best describes an integrative supply chain process... | The fusion of critical components of a supply chain |
| The concept of postponement... | seeks to reduce the risk of anticipation |
| Collaboration is the act of... | Integrating a supply chain |
| An integrated service supplier (ISP) seeks to... | Provide critical operational functionality in a supply chain |
| The lowest total process cost is... | May be the lowest cost for each involved function |
| The anticipatory business model is best described by which statement... | Driven by forecast |
| Geographic postponement is characterized by... | Timely delivery |
| Cash-to-cash conversion... | Is typically related to inventory turn |
| What is dwell time... | The ratio of asset idle time to total time required to complete a mission |
| The internet has increased business-to-business connectivity (t/f) | False |
| Perfect orders are limited to firms committed to integrated supply chain management (t/f) | False |
| Supply Chain Management promotes a network of highly efficient independent businesses (t/f) | True |
| There are eight critical supply chain processes (t/f) | True (be able to name them) |
| Collaboration is a fundamental part of SCM (t/f) | True |
| A third party service supplier is also a public warehouse (t/f) | False |
| Process specialization involves the same concepts as vertical integration (t/f) | False |
| The principle of postponement is new to the discipline of logistics (t/f) | False |
| Form and time postponement are fundamentally the same concept (t/f) | False |
| Geographic postponement is directly linked to dependable delivery (t/f) | True |
| Cash-to-cash conversion is an efficiency measurement (t/f) | False |
| Free cash spin is an important operational measure (t/f) | False |
| Increased operational responsiveness is directly related to information technology (t/f) | True |
| Enterprise extension is a diversification strategy (t/f) | False |
| Vertical integration and supply chain extension are essentially the same concepts (t/f) | False |
| A unique feature of integrates logistics is... | Complexity and scope of operations |
| Basic logistics service is a concept that... | Describes the level of service provided all established customers |
| A logistics performance cycle is... | The basic unit of supply chain design and operational control |
| The term "mother facility" is often used to describe... | An inventory replenishment source for smaller facilities |
| A flow through facility is... | Is also often called a cross-dock facility |
| The "pareto principle" is... | Used in logistics to develop fine line inventory classification |
| Service reliability is best described as... | The quality dimension of logistics performance |
| The primary reason that total logistics cost has reduced as a percentage of GDP is... | Inventory has decreaded as a percent of total cost |
| The work of logistics involves... | Transportation, inventory, order processing, warehousing, and facility network design |
| The logistics performance cycle... | Is the basic unit of supply chain design and control |
| Logistics cost has declined as a percent of GDP over the past 25 years (t/f) | True |
| Service reliability involves logistical quality (t/f) | True |
| Total cost was not typically the way managers viewed logistics prior to the 1960's (t/f) | True |
| The logistics value proposition is based solely on cost minimization (t/f) | False |
| The work of logistics is all about transportation planning and execution (t/f) | False |
| Logistical system design is driven by careful integration of all operational components to minimize total cost (t/f) | False |
| Transportation cost drives a firms focus on speed and consistency (t/f) | False |
| Facility network design is the function of total cost minimization (t/f) | False |
| Procurement and manufacturing are an integral part of integrated logistics (t/f) | False |
| Echeloned distribution structure facilitates direct delivery (t/f) | False |
| Logistics cost is greater than healthcare cost in the US (t/f) | False |
| Efficiency as contrasted to effectiveness is the primary goal of logistics (t/f) | False |
| Performance cycle uncertainty is a key concern in logistical operations (t/f) | True |
| The goal of cycle synchronization is achievement of planned time performance (t/f) | True |
| Performance cycle variance is a prime determinate of safety stock (t/f) | True |
| In providing service outputs to consumers, a disadvantage of Internet retailers compared to store-based retailers arises in... | Waiting time |
| In general, offering consumers higher levels of service output in terms of greater spatial convenience or product variety... | results in higher logistics and distribution cost |
| The most exacting measure of logistics performance regarding availability is... | Orders shipped complete |
| Which of the following is not one of the "service outputs" of a supply chain... | Price |
| Numerous studies have been performed concerning retail stockouts. While results vary, generally the studies find that stockouts... | Average about 8% |
| With respect to operational performance, most logistics managers would prefer which of the following... | A consistent 3 day performance cycle |
| Jones Company promised a customer that the customer would receive at least 98% of all items ordered. In fact, the customer received 95% of the items. This is an example of which "gap" in the customer satisfaction model... | Communication gap |
| The difference between a "customer success" focus and a "customer satisfaction" focus is that... | Customer satisfaction deals with expectations, customer success deals with requirements |
| Providing perfect orders to customer would be a key aspect of which customer accommodation focus... | Customer service |
| Jones Company makes every effort to consistently meet the expectations of all of its customers. It is clear that Jones company is focused on... | Customer satisfaction |
| Which customer accommodation approach requires a comprehensive supply chain perspective on the part of logistics executives... | Customer success |
| Providing value-added services is a critical aspect of... | Customer success |
| From a strategic perspective, companies should strive to... | Realize different customer accommodation approaches may be appropriate for different customers |
| Alpha Company has a performance standard of 97% fill rate. Last month it achieved a 94% fill rate. This is an example of... | Performance gap |
| On-time delivery is an aspect of a company's performance in... | Operational performance |
| Since walmart and target are both mass merchandisers it is likely that they both have the same logistical service requirements from suppliers (t/f) | False |
| Providing greater spatial convenience to customers typically requires greater logistics expense (t/f) | True |
| Companies should strive to offer the same fill rate performance on all items they stock (t/f) | False |
| Good logistics practice involves developing operations in which malfunctions never occur (t/f) | False |
| A company has identified that there are 5 critical components of a "perfect order". It establishes a 97% standard on each of these components. Assuming it achieves this standard, it can expect that its overall perfect order performance is 97% (t/f) | False |
| Achieving customer satisfaction with logistical performance does not mean that customers will be loyal (t/f) | True |
| Customers may be dissatisfied with a company even if that company consistently provides perfect order performance (t/f) | True |
| A customer success program in a company should focus on every customer the company serves (t/f) | False |
| In developing strategy for customer accommodation, low-profitability customers should never be candidates for a customer success relationship (t/f) | False |
| A firm which provides logistics service that is superior to its competitors can be sure that customers are satisfied (t/f) | False |
| A company has decided that it no longer needs to extensively count and inspect the products it receives from a particular supplier. This suggests that the company has begun... | Supplier operational integration |
| Generally speaking, procurement can have a greater impact on the net income of a company than most other departments. This is due to the fact that... | Purchased materials and supplies frequently represent the largest costs in a company |
| Which of the following reflects does not reflect a strategic focus on procurement... | Focus on purchase price |
| Supply base reduction (volume consolidation)... | Has potential benefits for suppliers as well as for buyers |
| In procurement, Total Cost of Ownership includes all of the following except... | (ALL) Field failures of purchased items, consideration of the impact of supplier quantity discounts, and cost of order placement |
| Early Supplier Involvement (ESI) is an important part of the "Volume Consolidation" stage of procurement strategy evolution (t/f) | False |
| Good purchasing strategy is based on standardized set of procedures for dealing with every supplier in a firm's supply base (t/f) | False |
| The most important objective in procurement strategy is to insure that the lowest purchase price is obtained from suppliers (t/f) | False |
| It is very possible that the supplier which offers the lowest purchase price does not have the lowest total cost of ownership for the buying firm (t/f) | True |
| In the promotional material for the GG2330 portable bar code scanner, the Yanda Comp states that the mean time between failures for the scanner is 400 operating hours. Which of the following dimensions of quality does this indicate... | Reliability |
| John Jones has a VCR which a friend described as being of poor quality since it doesn't have a remote control. The friend is focusing on what aspect of quality... | Features |
| John Jones told his friend that his VCR is over 20 years old while most VCRs only last about 10 years. He is focusing on which aspect of quality... | Durability |
| Which of the following manufacturing approaches would describe most consumer products, such as food, razor blades, over the counter drug, etc... | MTS (Make to stock) |
| Which of the following approaches would typically have the longest customer experienced lead time... | MTO vs. PTO vs. MTS vs. ATO ***MTO*** |
| Which of the following process structures can produce highest volume... | Continuous flow |
| Which manufacturing process can produce many different product varieties but has a long customer experienced lead time... | Batch operation |
| In this manufacturing approach, typically many different end items are made by combining standard components in inventory into many different products... | ATO (Assemble to order) |
| In MTS (make to stock), customer orders are satisfied from... | Finished goods inventory |
| Which of the following statements would be true regarding the customer experienced lead time in a make to order company... | It would be longer than assemble to order company |
| A job shop manufacturing process allows products to be customized for specific customers (t/f) | True |
| The customer accommodation cycle for make to plan items is typically longer than the cycle for assemble to order items (t/f) | False |
| Make to order strategies typically have lower inventory and warehousing cost than make to plan strategies (t/f) | True |
| A six-sigma quality program suggests that the acceptable level of defects or failures is one-half that of a traditional three sigma approach (t/f) | False |
| Performance based logistics has been found to both improve quality as well as reduce the cost for the buying organization (t/f) | True |
Created by:
jsmurph1