Supply

What caused the great toilet paper shortage of 1973?

• New uses for toilet paper

• Panic buying by everyday people

• Manufacturing defects

• Raw-material shortages

What is a supply chain?

• A complicated journey of an item before reaching a home

• A chain used to supply raw materials

• A chain of distributors selling to retailers

• A chain of suppliers selling finished goods

What is one common prescription for making supply chains more resilient?

• Diversifying risk

• Forecasting less accurately

• Decreasing manufacturing equipment

• Reducing inventory stockpiles

What is a potential solution to supply shortages mentioned in the text?

• Specializing manufacturing equipment

• Increasing product variety

• Building more buffers

• Decreasing raw material suppliers

What is one way to share risk in supply chains?

• Reducing inventory

• Pooling physical resources

• Increasing competition

• Pooling money

Why is supply-chain transparency important?

• To decrease data analysis

• To increase competition

• To know who your suppliers are

• To trace back to a single source

What is the purpose of supply-chain control towers?

• To bring all information into one place

• To predict problems before they arise

• To decrease data analysis

• To analyze and interpret information

What is a benefit of using technology in supply chains?

• To overwhelm with data

• To decrease decision-making

• To analyze thousands of data points

• To reduce the need for managers

What is an example of a recent supply shortage mentioned in the text?

• Wood products

• Textile fibers

• Metal ores

• Plastic resin

What is one reason why automotive companies faced a shortage of microprocessors?

• Increased production of microprocessors

• Lack of technological advancement

• Decreased demand for cars

• Fear of car sales plummeting