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Exam 10: Supply Chain and Logistics Management

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Question 1

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Sourcing and procurement of raw materials, component parts, finished goods and services is handled by which department?

A) production
B) distribution
C) finance
D) materials management
E) purchasing

F) A) and C)
G) C) and E)

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Question 2

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According to your text, the ultimate objective of supply chain management is to

A) choose intermediaries that share the same mission as the company.
B) integrate the activities of related companies so they function as one extended enterprise.
C) make each channel as efficient as possible, thus saving the company money.
D) utilize as few channel members as possible in the manufacture of the product.
E) accurately predict production levels in order to minimize inventory carrying costs.

F) None of the above
G) A) and C)

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Question 3

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Alfonso's company is based in the United States and practices sustainable sourcing. Because his company gets materials and finished products from Canada and Mexico, its sourcing is referred to as

Phil works in a warehouse. His job is to assemble store displays and refurbish goods that have been returned by customers. What warehouse function is Phil responsible for?

Your grandmother and her friends are thinking of starting a business making quilts. Since you are taking a marketing course, she has asked you for some advice on what type of supply chain strategy they should use. She tells you that they want to keep their inventory low and want to ensure that if they make a quilt it will sell. What type of strategy would you recommend?

Warehouse activities can be organized into which three basic functions?

__________ is that part of supply chain management that plans, implements, and controls the flow of goods, services, and information between the point of origin and the final customer.

The ultimate objective of supply chain management is to integrate related companies in order to facilitate coordinating activities across the supply chain in a manner that improves the entire chain's performance.

During the maturity and decline stages, a firm may want to stick with the maximum flexibility a pull strategy allows or follow a hybrid strategy that commits to inventory of raw and packaging materials without committing to a large amount of finished goods inventory.

A _________ strategy is one that combines elements of both a push strategy and a pull strategy.

All of the following are factors that affect a company's sustainability profile except

Neesha and Lucas went to Clear Creek Custom Dining to buy a new dining room set. At the store they configured the set to their specifications in terms of size, finish and style. The store sent the order out via the Internet to the manufacturer. The manufacturer, in turn, secured the correct type of wood from its supplier to complete the dining room set. When finished, the manufacturer shipped the product to its local warehouse where Clear Creek Custom Dining arranged for delivery to its store by a local trucking company. For Clear Creek Custom Dining, this is an example of

If cost reduction is part of a firm's strategy, it would be wise for the firm to use a ________ strategy, since it will allow the firm to achieve cost savings through economies of scale in purchasing, manufacturing, and transportation.

Explain how logistics activities relate to each element of the marketing mix?

A company ships a product overseas in a container carried by a ship. After the ship docks, the container is placed on a railroad and travels long distances. Upon the train's arrival, the container is then placed on a truck to be delivered to its final destination. This is an example of _________ transportation

Pipelines make up a very specialized mode that services only a few industries.

According to your text, companies that employ a pull or push-pull strategy typically establish logistics operations based on

A set of three or more companies directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer is referred to as a ________ ________.

When a company recognizes the importance of sharing supply and demand information with suppliers and customers, it is practicing supply chain management.

In a ________ strategy, customer orders drive(s)manufacturing and distribution operations.