What does supply chain management help businesses improve?

Speed up market response and enhance customer experience

What is the main objective of a supply chain?

Maximize the value created between revenue and cost

The two major types of facilities are

production sites and storage sites

What is the key factor in a successful Lean SCM strategy?

Reducing waste and optimizing production processes

What methods can help manage inventory effectively?

Share components between multiple products to optimize inventory

What does Cash Flow in the supply chain refer to?

Cash flows in and out between parties in the supply chain

How does Artificial Intelligence (AI) improve supply chain performance?

Enhancing demand forecasting and automating warehouse management

Which sequence of stages is typical for product flow in a supply chain?

Supplier → Manufacturer → Distributor

What strategy can help companies maintain supply chain stability during global disruptions?

Diversifying suppliers and increasing local production

studbud

supply chain

15 termsStudBud Administration9 plays

Imported from external platform

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
What does supply chain management help businesses improve?
Reduce operating efficiency
Reduce competition in the market
Increase production costs
Speed up market response and enhance customer experience
2
Which factor is NOT in the group of main drivers affecting supply chain performance?
Transportation
Resource
Inventory
Facilities
3
What is the main objective of a supply chain?
Maximize the value created between revenue and cost
Reduce product prices to attract customers
Eliminate intermediaries in the supply chain
Minimize production costs
4
Which indicators are used to measure financial performance in the supply chain?
Return on investment (ROI)
Both B and C
Return on assets (ROA)
Inventory turnover (INVT)
5
The inventory held in case demand exceeds expectation in order to counter uncertainty is called
sourcing
seasonal inventory.
safety inventory.
cycle inventory.
6
The two major types of facilities are
production sites and storage sites
distribution sites and storage sites.
retail sites and distribution sites
production sites and distribution sites
7
What is the key factor in a successful Lean SCM strategy?
Focusing only on increasing production volume
Working with a single supplier only
Keeping high inventory levels to avoid shortages
Reducing waste and optimizing production processes
8
Which key performance indicator (KPI) measures how quickly a company turns inventory into sales?
Inventory turnover
Supplier lead time
Order fill rate
Profit margin
9
The driver that plays an important role in connecting members in the supply chain and sharing information is:
Information
Facilities
Transportation
Inventory
10
What methods can help manage inventory effectively?
Share components between multiple products to optimize inventory
Keep inventory as low as possible without a clear plan
Keep maximum inventory levels to avoid shortages
Excess production to always have inventory
11
What does Cash Flow in the supply chain refer to?
Product manufacturing process
The transportation of goods from suppliers to customers
Cash flows in and out between parties in the supply chain
Customer service management
12
How does Artificial Intelligence (AI) improve supply chain performance?
Providing financial data instead of production insights
Eliminating the need for human employees
Only optimizing the transportation process
Enhancing demand forecasting and automating warehouse management
13
Which sequence of stages is typical for product flow in a supply chain?
Supplier → Manufacturer → Distributor
Manufacturer → Retailer → Distributor
Retailer → Distributor → Customer
Supplier → Customer → Retailer
14
What strategy can help companies maintain supply chain stability during global disruptions?
Moving all production overseas to reduce costs
Lowering product prices to offset losses
Waiting for the situation to stabilize without changes
Diversifying suppliers and increasing local production
15
Which company is famous for its Just-in-Time (JIT) inventory system?
Coca-Cola
Samsung
Walmart
McDonald's

supply chain Flashcards | StudBud