8. A company relies on a single supplier for a critical component. What type of risk does this pose?

C) Single-source dependency risk

1. What is the primary objective of supply chain risk management?

C) Identifying, assessing, and mitigating risks

5. Which of the following is a common strategy for mitigating demand-side risks?

C) Implementing flexible pricing and inventory strategies

3. What is a key benefit of diversifying suppliers in supply chain risk management?

A) Reducing dependence on a single source and minimizing disruptions

6. What is the role of technology in managing supply chain risks?

B) It helps in real-time tracking, predictive analytics, and automation

10. What is an advantage of implementing blockchain in supply chain risk management?

B) Improved transparency, traceability, and fraud prevention

4. Which of the following best describes the "bullwhip effect" in supply chains?

B) Demand amplification caused by small variations in consumer demand

studbud

Managing Supply Chain Risk

10 termsStudBud Administration

Imported from external platform

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
2. Which of the following is an example of a supply-side risk?
C) Cybersecurity breaches in retail systems
A) Demand fluctuations
B) Supplier bankruptcy
D) Changes in customer preferences
2
8. A company relies on a single supplier for a critical component. What type of risk does this pose?
D) Demand-side risk
C) Single-source dependency risk
A) Regulatory risk
B) Financial risk
3
1. What is the primary objective of supply chain risk management?
C) Identifying, assessing, and mitigating risks
D) Reducing inventory levels
A) Maximizing profit at all costs
B) Eliminating all risks completely
4
5. Which of the following is a common strategy for mitigating demand-side risks?
B) Increasing supplier contracts
A) Investing in alternative raw materials
C) Implementing flexible pricing and inventory strategies
D) Reducing customer communication
5
3. What is a key benefit of diversifying suppliers in supply chain risk management?
A) Reducing dependence on a single source and minimizing disruptions
B) Increasing production costs
D) Eliminating quality control issues
C) Reducing the need for demand forecasting
6
7. Which of the following is NOT a key component of supply chain risk assessment?
A) Risk identification
B) Risk quantification
D) Risk mitigation
C) Risk elimination
7
9. Which global event highlighted major vulnerabilities in supply chains due to unexpected disruptions?
C) The 2014 FIFA World Cup
B) The 2020 COVID-19 pandemic
D) The 2011 royal wedding
A) The 2008 financial crisis
8
6. What is the role of technology in managing supply chain risks?
D) It replaces all traditional risk management strategies
B) It helps in real-time tracking, predictive analytics, and automation
C) It eliminates the need for human decision-making
A) It makes supply chains more complex and risky
9
10. What is an advantage of implementing blockchain in supply chain risk management?
C) Elimination of all supply chain risks
B) Improved transparency, traceability, and fraud prevention
D) Reduction of supply chain costs without technological investment
A) Increased secrecy in supplier operations
10
4. Which of the following best describes the "bullwhip effect" in supply chains?
D) A government-imposed supply restriction
C) Increased supplier collaboration
B) Demand amplification caused by small variations in consumer demand
A) A sudden drop in supplier reliability

Managing Supply Chain Risk Flashcards | StudBud