Test 1

What is a supply chain?

• A chain used to tie goods

• A system for advertising products
  

• A network that moves a product from supplier to customer

• A way to increase product prices

Which of these is not a part of the supply chain?

• A. Manufacturer

• B. Retailer

• C. Customer
  

• D. Actor

What role does a distributor play in the supply chain?

• B. They transport goods from suppliers to retailers

• D. They provide customer service

• A. They manufacture products

• C. They set prices for products

Which of the following best describes logistics?

• B. The act of selling products directly to consumers

• C. The method of advertising products

• D. The strategy for increasing production

• A. The process of managing the flow of goods and services

What is the primary goal of supply chain management?

• C. To enhance customer satisfaction through marketing

• D. To focus solely on manufacturing

• B. To increase product variety

• A. To reduce costs and improve efficiency

What is the significance of inventory management in supply chain operations?

• C. To focus on marketing strategies

• B. To increase the number of suppliers

• D. To eliminate all transportation costs

• A. To minimize storage costs and ensure product availability

Which of the following best defines demand forecasting?

• A. Predicting future customer demand for products

• C. Analyzing past sales data only

• D. Setting prices for new products

• B. Estimating production costs

What is the role of a supplier in the supply chain?

• A. To provide raw materials or components for production

• B. To sell products directly to consumers

• C. To manage logistics and transportation

• D. To conduct market research