Business Management II 2.01 Review

If your company sells a thing to a customer, your company most likely has a __________.

• supply chain

• warehouse

• physical location

• customer database

Supply chain management isn't just the management of products — it's also the management of ____________________.

• information, time, and money

• customers, sales, and marketing

• products, services, and logistics

• people, places, and things

Managing your product supply when your suppliers are sourcing their suppliers is called:

• Supply Logistics

• Inventory Management

• Tier II Supplier Managment

• Chain Management

____________ includes the cost of goods negotiations, on-time delivery management, quality audits and management, new product development.

• operations management

• product supply

• logistics

• supplier management

_____________ is the management of the movement of goods.

• supplier management

• logistics

• supply chain

• product relocation

You need to have enough _________ on hand to supply your customers what they want, when they want it — but you can't have too much __________ on hand or you will have paid (possibly) too much money out of pocket.

• supply

• cash

• inventory

• production

All of these are reasons why a business could end up with too much inventory, except for:

• you sold too many of an item

• minimum order quantities

• something changed in the marketplace

• you thought you would sell more of an item

___________ functions as the voice of the customer at your company. What shipping method does your customer want? What size boxes do you need to pack your product in and how many units per pack?

• logistics

• sales and marketing

• customer service

• product acquisition

Supply chain management is optimized when you are delivering _______ your customers want, ________ they want it, and doing that by spending as _______ money as possible.

• what, when, little

• the products, where, much

• who, how, little

• what, when, much

___________ is a part of supply chain management, but it's not the totality of all that supply chain management.

• purchasing

• manufacturing

• selling

• timing