Supply Chain Management Essentials

What is the purpose of inventory management in hospitality?

• The purpose of inventory management in hospitality is to optimize stock levels, reduce waste, and ensure efficient operations.

• To track customer preferences

• To increase the price of menu items

• To manage employee schedules

Name one technique used in inventory management.

• Batch processing system

• Just-In-Time (JIT) inventory system

• First-In-First-Out (FIFO) method

• Economic Order Quantity (EOQ) model

How can strong supplier relationships benefit a hotel?

• Limited product variety

• Higher operational costs

• Increased competition among suppliers

• Strong supplier relationships benefit a hotel by providing better pricing, improved quality, reliable deliveries, and enhanced collaboration.

What is a key factor in effective supplier relationship management?

• Limited product variety

• Effective communication

• High pricing strategies

• Strict contract terms

Describe a cost control strategy used in the hospitality industry.

• Budget management system

• Seasonal pricing adjustments

• Customer loyalty rewards

• Employee training program

Why is cost control important for hotels and restaurants?

• Cost control is important for managing expenses, maximizing profitability, and ensuring financial sustainability.

• Cost control is only necessary for large corporations.

• Cost control has no impact on customer satisfaction.

• Cost control is primarily about reducing staff wages.

What does sustainability in supply chain management refer to?

• Sustainability in supply chain management refers to the use of outdated practices for efficiency.

• Sustainability in supply chain management is about maximizing profits at any cost.

• Sustainability in supply chain management focuses solely on cost reduction.

• Sustainability in supply chain management involves environmentally and socially responsible practices that minimize negative impacts.

Give an example of a sustainable practice in hospitality supply chains.

• Offering unlimited buffet options with no portion control.

• Sourcing local and seasonal food products.

• Using plastic straws in all beverages.

• Importing exotic fruits year-round.

What role does logistics play in the hospitality industry?

• Logistics is primarily focused on marketing strategies.

• Logistics plays a crucial role in ensuring timely delivery of services and resources, enhancing guest satisfaction and operational efficiency.

• Logistics is only important for supply chain management.

• Logistics has no impact on guest experience in hotels.

How can logistics impact customer satisfaction?

• Logistics is solely about warehouse management.

• Logistics impacts customer satisfaction by ensuring timely delivery, order accuracy, and product availability.

• Logistics only affects the cost of products.

• Logistics has no effect on customer satisfaction.