MGT 323 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT Week 1 Quiz Answers

MGT 323 PRINCIPLES OF SUPPLY CHAIN MANAGEMENT Week 1 Quiz Answers

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Question 1 

The bullwhip effect is the result of companies producing excessive defective products; defective items are whipped back from the end customer toward the manufacturer of the defect.

Question 2

Assembly or production of finished products, producing the right amount of product, and ensuring that finished products meet specific quality, cost, and customer service requirements are all important issues

Question 3 

Which of the following illustrates Forward Integration?

Question 4

Effective supply chain management relies on competitive bidding, corporate privacy, and contracts based on short-term performance.

Question 5 

Examples of tariffs include quotas, licensing agreements, and embargoes.

Question 6 

According to the textbook, supply chains include raw material suppliers, intermediate component manufacturers, end-product manufacturers, wholesale distributors, and retailers.

Question 7 

Merchant supply chain member buyers purchase their merchandise in volume to take advantage of quantity discounts, transportation economy, and storage efficiency, and then they create value through services like consolidating merchandise or break bulking.

Question 8 

On occasion, firms assist suppliers, new or old, to improve their processing capabilities, product or service quality, delivery effectiveness, and cost performance by providing the required technical and financial assistance. This is referred to as:

Question 9 

Reverse logistics activities include the return of defective and damaged items to the manufacturer, and the recycling of used packaging.

Question 10 

In the context of Supply Chain Management, the acts of obtaining raw materials, services, maintenance, repair and operating supplies for money can all be defined as purchasing.