Supply Chain Management in Hospitality

A hospitality organization's business plans need to include a strong supply chain execution strategy because of the constantly shifting demands of its customers. What must companies have to satisfy customers?

• Flexible, agile supply chains

• Rigid supply chains

• Static supply chains

• None of the above

What is a supply chain strategy?

• A plan to manage the flow of product services

• A marketing strategy

• A financial strategy

• A human resources strategy

What does internal capabilities refer to in the context of supply chain strategy?

• The capacity of the supply chain to meet requirements

• The marketing capabilities of a business

• The financial capabilities of a business

• The human resources capabilities of a business

What is competitive analysis in supply chain management?

• Determining the strengths, weaknesses, opportunities, and threats of competitors

• Analyzing customer preferences

• Evaluating employee performance

• Assessing supplier reliability

What does risk management involve in supply chain management?

• Identifying internal and external risks

• Increasing inventory levels

• Reducing supplier costs

• Enhancing customer service

What is buffer management?

• Handling supply variability in operations

• Increasing inventory levels

• Reducing supplier costs

• Enhancing customer service

What is multisourcing?

• The ability to choose between alternate sources of materials

• The process of reducing costs

• The method of increasing inventory

• The strategy of enhancing customer service

What is nearshoring?

• Choosing a supplier near the business to reduce cycle times

• Increasing inventory levels

• Reducing supplier costs

• Enhancing customer service

What is the role of executive support in supply chain management?

• Leading communication and ensuring understanding of supply chain initiatives

• Increasing inventory levels

• Reducing supplier costs

• Enhancing customer service

What does change management refer to in the context of supply chain management?

• Preparing and supporting employees to adapt to new operations

• Increasing inventory levels

• Reducing supplier costs

• Enhancing customer service