TRACK2

The primary goal of a value chain is to increase a business's efficiency so that it can provide the most value for the least possible cost.

• True

• False

It refers to the business of agricultural production, including farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales.

• Agriculture

• Agribusiness

• Investment

• None of the above

Creating a competitive advantage is not a key objective of implementing a value chain in a business.

• True

• False

Which activities included in primary activities

• Marketing and sales

• Operations

• Inbound activities

• Human resource management

"Human Resource" is considered a support activity in the Value Chain Analysis.

• True

• False

What are the supporting activities of the value chain model?

• 
  Infrastructure of the firm, Human Resource department, Technology department, Marketing and Sales

• Inbound logistics, Procurement, Outbound Logistics, Marketing and Sales, and Service

• 
  the infrastructure of the firm, Human Resource department, Technology department, Procurement

• 
  Infrastructure of the firm, Service, Technology department, Procurement

The _____________________________is defined as all the steps, processes, and trading partners involved in making, storing, and delivering a finished product into the hands of the end user.

• Production Chain

• Value Chain

• Supply Chain

• Selling Chain

The end processes where a company takes a finished product to the consumer is called __________________

• Upstream Flow

• Ebb and Flow

• Downstream Flow

• Go with the Flow

A supply chain management tool that is becoming increasingly popular, it shows real-time alerts and provides timely information on all shipping activities.

• Lean Inventory

• Warehouse Management

• Bid and Spend

• Shipping Status Alerts and Updates

A supply chain management tool that practices the idea that companies create only what’s needed at the moment, which is determined by current and projected customer demand.

• Lean Inventory

• Warehouse Management

• Bid and Spend

• Shipping Status Alerts and Updates