Supply Chain Management

The supply chain concept originated in what discipline?

• marketing

• operations

• logistics

• production

A ____________ encompasses all activities associated with the flow and transformation of goods from the raw material stage, through to the end user, as well as the associated information flows.

• production line

• supply chain

• marketing channel

• warehouse

Which of the following statements is true of LEAN?

• Lean principles focus on advanced statistical methods

• Lean principles are separate body of knowledge

• Lean principles have been developed over a lengthy period of time

• Lean principles include reducing waste

Total Quality Management emphasizes

• the responsibility of the Quality Control staff to identify and solve all quality-related problems

• A commitment to quality that goes beyond internal company issues to suppliers and customers

• A system where strong managers are the only decision makers

• a) A process where mostly statisticians get involved

Which of the following is true for supply chain management?

• The physical material moves in the direction of the end of chain

• Flow of cash backwards through the chain

• Exchange of information moves in both the direction

• All of the above

The sequence of a typical manufacturing supply chain is

• Storage–Supplier–manufacturing–storage–distributor–retailer–customer

• Supplier–Storage-manufacturing–storage–distributor–retailer–customer

• Supplier–Storage-manufacturing– distributor–storage–retailer–customer

• Supplier–Storage-manufacturing–storage– retailer–distributor–customer

The purpose of supply chain management is

• provide customer satisfaction

• improve quality of a product

• integrating supply and demand management

• increase production

VMI stands for

• Vendor material inventory

• Vendor managed inventory

• Variable material inventory

• Valuable material inventory

An important feature of supply chain management is its application of electronic commerce technology that allows companies to share and operate systems for:

• Order processing, transportation scheduling, and inventory management

• cost-effective flowing of raw materials

• future purchasing of computer systems

• future merger opportunities

A successful TQM program incorporates all of the following except

• continuous improvement

• employee involvement

• benchmarking

• centralized decision making authority