Chapter 1 CV – Flashcards
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The first decade of the twenty-first century was a period of rapid change for organizations, especially businesses.
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True
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A key element in Wal-Mart's ability to discount brand name products was an understanding of the criticality of efficiency in its logistics and supply chain system.
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True
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Globalization has had little effect on consumers
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False
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Supply and demand has become less volatile as managers become more adept at controlling the elements
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False
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Outsourcing is a fairly new concept
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False
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SAB should examine their off-shore purchasing policy, even though the products are sourced from the U.S
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True
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It is expected that some or all of the BRIC countries (Brazil, Russia, India & china) will replace the so-called VISTA countries (Vietnam, Indonesia, S. Africa, Turkey and Argentina) as low cost producers of various products and services.
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False
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The world economy still favors the United States and European countries, even though China and India can participate in the global economy much more readily
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False
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It is predicted that social networks such as Facebook and Twitter will influence supply chains because of their impact on customer demand and the speed of information transfers.
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True
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The U.S. transportation system was deregulated in the 1930s and 1940s in response to economic conditions and World War 2
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False
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Even though there are references to supply chain management in the 1980s, SCM did not capture the attention of senior-level management until the 1990s
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True
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Supply chain managers no longer need to worry about suboptimization in light of today's technology.
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False
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Most retailers are essentially supply chain companies since
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They buy products produced by others
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Which of the below is not one of the external forces driving the rate of change and shaping our economic and political landscape?
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Environmental concerns
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Outsourcing involves
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Obtaining materials, parts, and products from other companies.
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Some individuals describe the current consumer as the "click here" generation because
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We no longer wait for information to be "pushed out to us"
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The demographics of our society has changed because
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Of the increase in two-career families and single-parent households
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The Supply Chain concept
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Is developed from the previous Physical Distribution concept.
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Logistics, in its simplest form
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Combines inbound logistics with the outbound logistics of physical distribution.
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One of the major challenges of supply chain management is
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Maintaining the visibility of inventory
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Which of these flows only one way as illustrated in Figure 1-4?
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None of these answers
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Traditionally, information has been viewed as flowing in the opposite direction of products, that is, from the market/customer back to the wholesalers, manufacturers, and vendors
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None of these answers
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One of the four supply chain flows in Figure 1 - 8 that has received increased attention from supply chain managers due to the growth in technology is:
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Demand flow
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The challenge to develop and sustain an efficient and effective supply chain(s) requires organizations to address a number of issues. Which is not included?
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Inventory carrying costs
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Which of the following is not part of the Supply Chain network?
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Stores
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Complexity in the supply chain is caused by
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All of these answers
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Cost/value refers to
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The importance of cost and value at the very end of the supply chain.
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Performance measurement is importan because
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Lower-level metrics in an organization must connect directly to the high-level performance to achieve goals.
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A critical outcome of the supply chain is to deliver
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The right product to the right place
