ISCM Q1

What is a supply chain according to Lee and Billington?

• A financial management system

• A method of inventory management

• A strategy for customer service

• A network of facilities that procure raw materials

What is one of the key issues in supply chain management?

• Sourcing and procurement issues

• Product design

• Employee training

• Marketing strategies

What does a metric in supply chain management refer to?

• A financial report

• A standard of measurement of performance

• A customer feedback tool

• A type of software

What is the trade-off mentioned in supply chain management?

• Flexibility vs. Stability

• Cost vs. Quality

• Speed vs. Accuracy

• Inventory vs. Customer Service

Which of the following is a pitfall in inventory management?

• No supply chain metrics

• Accurate delivery status data

• High customer satisfaction

• Effective communication

What is one consequence of globalization in supply chain management?

• Increased production flexibility

• Faster delivery times

• Less dependable forecasts

• Lower inventory levels

What is a benefit of supply chain management?

• Reduced collaboration with partners

• Information transparency and real-time business intelligence

• Decreased visibility into the supply chain

• Increased operational costs

What are the three main flows in supply chain management?

• Product, Information, and Financial flows

• Customer, Supplier, and Distribution flows

• Production, Marketing, and Sales flows

• Inventory, Procurement, and Delivery flows

What does flexibility in supply chain management refer to?

• The ability to respond to changes in the environment

• The ability to increase production speed

• The ability to maintain high inventory levels

• The ability to reduce costs

What is a common issue related to customer service in supply chain management?

• Overproduction of goods

• Excessive lead times

• High inventory costs

• Inadequate definition of customer service