Supply Chain Design and Optimization Quiz

What does the supply chain ecosystem encompass?

• Only suppliers and manufacturers

• All entities involved in production, distribution, and consumption

• Only retailers and customers

• None of the above

What is a key factor in effective supply chain management?

• Ignoring customer needs

• Understanding customer expectations

• Focusing solely on cost

• Minimizing supplier relationships

What does Just-In-Time (JIT) inventory management aim to do?

• Minimize inventory holding costs

• Increase inventory levels

• Delay production

• None of the above

What is the purpose of performance monitoring in supplier relationship management?

• To ignore supplier performance

• To ensure suppliers meet quality, delivery, and cost standards

• To reduce communication with suppliers

• To increase costs

What is the role of data analytics and AI in supply chain optimization?

• To complicate inventory management

• To identify patterns and predict future demand

• To reduce forecasting accuracy

• None of the above

What is a key benefit of effective communication in demand planning?

• Increased confusion

• Improved accuracy

• Delayed production

• Higher costs

What does the ABC analysis categorize?

• Suppliers based on their reliability

• Inventory items based on their value and impact

• Transportation modes based on speed

• None of the above

What is the purpose of creating contingency plans in risk management?

• To ignore potential risks

• To outline specific actions in the event of a disruption

• To increase supply chain vulnerabilities

• None of the above

What is the goal of continuous improvement in supply chain management?

• To maintain the status quo

• To identify areas for enhancement and implement changes

• To increase inefficiency

• None of the above