BLSCM Introduction

Which of the following best defines a "supply chain"?

• A network of individuals, organizations, resources, activities, and technologies involved in creating and delivering a product or service from suppliers to customers.

• The process of delivering goods to customers only after they are paid for.

• The physical transportation of goods from one location to another.

• The management of a company's financial operations to ensure profitability.

What is the key difference between supply chain value and supply chain profitability?

• Supply chain value is measured by the revenue earned by the supplier, and supply chain profitability is determined by the customer.

• Supply chain value is only concerned with the price of raw materials, whereas supply chain profitability includes labor costs.

• Supply chain value focuses on the financial costs, while supply chain profitability focuses on customer satisfaction.

• Supply chain value represents the total value generated for all stakeholders, while supply chain profitability is the total profit earned by all entities in the supply chain.

Which of the following is an example of a strategic decision in supply chain management?

• Resolving a customer complaint regarding a delayed shipment.

• Adjusting the inventory levels for a specific warehouse for the coming week.

• Selecting a new supplier for raw materials over the next five years.

• Determining daily delivery routes for a fleet of trucks.

Which of the following is an example of a planning decision in supply chain management?

• Deciding how much raw material to order for the next production cycle.

• Handling an unexpected machinery breakdown in a manufacturing plant.

• Developing a five-year plan for global market expansion.

• Optimizing warehouse staffing schedules for daily operations.

Which of the following best illustrates the concept of strategic fit in supply chain management?

• A company chooses the lowest-cost supplier, regardless of quality, to reduce expenses.

• A high-end electronics manufacturer aligns its supply chain to focus on flexibility and responsiveness to meet the demand for customized, premium products.

• A retailer maintains excess inventory in all locations to avoid stockouts during holiday seasons.

• A company expands its supply chain network to include international suppliers for cost savings.

Which of the following best describes the primary goal of lean production?

• Outsourcing production to lower-cost countries to reduce expenses.

• Increasing the size of the workforce to boost productivity.

• Reducing waste and inefficiencies in production while delivering value to the customer.

• Maximizing the output of goods, regardless of waste.

Which of the following practices is commonly associated with lean production?

• Implementing just-in-time (JIT) inventory management to minimize excess inventory.

• Holding large inventories to prevent stockouts.

• Encouraging long production cycles to reduce the need for frequent equipment changes.

• Maximizing the use of all available resources, regardless of demand fluctuations.

Which of the following best describes the SCOR model in supply chain management?

• A framework used to evaluate a company's financial performance across the supply chain.

• A model that integrates strategic goals with customer satisfaction metrics in the supply chain.

• A comprehensive framework for improving supply chain performance by focusing on five key areas: Plan, Source, Make, Deliver, and Return.

• A system for tracking inventory levels and optimizing warehouse space.