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Business Management II 2.01 Review

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

If your company sells a thing to a customer, your company most likely has a __________.

a)

supply chain

b)

warehouse

c)

physical location

d)

customer database

2.

Supply chain management isn't just the management of products — it's also the management of ____________________.

a)

information, time, and money

b)

customers, sales, and marketing

c)

products, services, and logistics

d)

people, places, and things

3.

Managing your product supply when your suppliers are sourcing their suppliers is called:

a)

Supply Logistics

b)

Inventory Management

c)

Tier II Supplier Managment

d)

Chain Management

4.

____________ includes the cost of goods negotiations, on-time delivery management, quality audits and management, new product development.

a)

operations management

b)

product supply

c)

logistics

d)

supplier management

5.

_____________ is the management of the movement of goods.

a)

supplier management

b)

logistics

c)

supply chain

d)

product relocation

6.

You need to have enough _________ on hand to supply your customers what they want, when they want it — but you can't have too much __________ on hand or you will have paid (possibly) too much money out of pocket.

a)

supply

b)

cash

c)

inventory

d)

production

7.

All of these are reasons why a business could end up with too much inventory, except for:

a)

you sold too many of an item

b)

minimum order quantities

c)

something changed in the marketplace

d)

you thought you would sell more of an item

8.

___________ functions as the voice of the customer at your company. What shipping method does your customer want? What size boxes do you need to pack your product in and how many units per pack?

a)

logistics

b)

sales and marketing

c)

customer service

d)

product acquisition

9.

Supply chain management is optimized when you are delivering _______ your customers want, ________ they want it, and doing that by spending as _______ money as possible.

a)

what, when, little

b)

the products, where, much

c)

who, how, little

d)

what, when, much

10.

___________ is a part of supply chain management, but it's not the totality of all that supply chain management.

a)

purchasing

b)

manufacturing

c)

selling

d)

timing

11.

What is provider of goods or services or a seller with whom the buyer does business called?

a)

supplier

b)

vendor

c)

producer

d)

customer

12.

A __________ receives services, materials, supplies, energy, and components to use in creating finished products, such as dress shirts, packaged dinners, air-planes, electric power, legal counsel, or guided tours

a)

vendor

b)

producer

c)

supplier

d)

customer

13.

A _____________ receives shipments of finished products to deliver to its customers, who wear the shirts, eat the packaged dinners, fly the planes, or turn on the lights.

a)

customer

b)

vendor

c)

supplier

d)

producer

14.

A person who sells food items on the street is an example of a __________.

a)

vendor

b)

producer

c)

customer

d)

supplier

15.

A person who supplies the vegetables needed for a vender to sell items on the street is an example of a __________.

a)

vendor

b)

supplier

c)

producer

d)

customer