What is the core purpose of a Supply Chain Strategy?

• Reducing a company's carbon footprint

• Detailing a plan to align SCM with overall business goals and gain a competitive advantage

• Building strong partnerships with suppliers

• Optimizing transportation routes

Which component of SCM strategy specifically aims to prevent both overstocking and stockouts?

• Inventory Management

• Logistics & Distribution

• Demand Planning & Forecasting

• Technology Integration

A company that prioritizes flexibility and responsiveness to sudden market changes is utilizing which SCM strategy?

• Lean Strategy

• Global Strategy

• Agile Strategy

• Resilient Strategy

The decision between a Just-in-Time (JIT) and a Just-in-Case (JIC) model is a key consideration in which SCM strategy component?

• Demand Planning & Forecasting

• Inventory Management

• Supplier Relationship Management

• Risk Management & Resilience

Which of the following is an example of an external factor addressed in the SWOT analysis for SCM strategy development?

• Mitigate Weaknesses

• Leverage Strengths

• Counteract Threats

• Workforce training

The process of overseeing the entire flow of goods and services, from raw materials to the final customer, is defined as:

• Logistics & Distribution

• Demand Planning & Forecasting

• Supply Chain Management (SCM)

• Supplier Relationship Management (SRM)

What is the primary focus of a Lean Strategy in SCM?

• Prioritizing flexibility

• Focusing on efficiency and cost reduction by eliminating waste

• Building buffers against risk

• Using international distribution networks

The strategic fit created by a SWOT analysis is between which two elements?

• Cost and lead time

• Internal strengths/weaknesses and external opportunities/threats

• JIT and JIC models

• Demand planning and inventory management

A Hybrid (Leagile) Strategy combines the focus of which two other SCM strategies?

• Global and Resilient

• Agile and Resilient

• Lean and Agile

• Lean and Global

Which step immediately follows 'Align supply chain goals with overall business objectives' in the SCM strategy development process?

• Select the right strategy

• Identify strengths, weaknesses, opportunities, and threats (SWOT analysis)

• Implement with technology

• Continuously monitor KPIs