Quiz 1. Day 1 and 2

1. 1. The management of the flow of goods and services and includes all processes that transform raw materials into final products

• A. Supply Chain

• B. Hospitality

• C. Management

• D. Logistics

2. 2. includes restaurants, hotels, casinos, amusement parks, events, cruises, entertainment, and other tourism-related services. As such, this industry isn't just important to businesses but also to customers, employees, and economies.

• A. Chain

• B. Supply

• C. Hospitality

• D. Restaurant

3. 3. the process of planning and organizing the resources and activities of a business to achieve specific goals in the most effective and efficient manner possible

• A. Management

• B. Procurement

• C. Supplier

• D. Marketing

4. 4. is one of the first important terms to understand when you think about supply chains. In essence, it is the way that you purchase or acquire raw materials and other things that you need to run your organization. There are really two major types of procurement. You have direct and indirect procurement

• A. Direct

• B. Procurement

• C. Supplies

• D. Engagement

5. 5. This whole concept of managing your supplier base, understanding who your suppliers are, and who your vendors are, is extremely important. Especially for more complex supply chains that have hundreds or thousands of different parts or raw materials that go into a finished good.

• A. Indirect Procurement

• B. Supplier Management

• C. Direct Procurement

• D. Inventory Pad

6. 6. is focused on what products do you have, what's your inventory level, where the material is located when you need it, and ultimately, how are you going to get it to your end customer? These are important to think about when it comes to supply chain management

• A. Inventory Management

• B. Inventory

• C. Chain

• D. Supply

7. 7. Moving your products, whether it's your raw materials or your end products, throughout the entire supply chain is a very important part of your overall supply chain management function. When you think about where you order your raw materials from, it's a matter of understanding how your raw materials are going to get from the manufacturer or the producer to your facilities.

• A. Organization

• B. Freight and Transportation

• C. EDI

• D. Customers

8. 8. This whole concept of producing the product, using materials in your warehouse, putting the finished product back in your warehouse, and then ultimately shipping from the warehouse to your end customer is multifaceted.

• A. Warehouse Management

• B. Logistics

• C. Supplier Management

• D. Supply Chain