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Exam 21: Supply Chain Management

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Question 21

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Scheduling operations and shipping are operational responsibilities in supply chain management.

A) True
B) False

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Question 22

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One important role of purchasing is to:

A) set quality standards for purchased items from suppliers.
B) be knowledgeable about new products from suppliers.
C) maintain numerous sources of supply.
D) obtain the lowest prices on all purchased items.
E) determine the processes that should be used by suppliers.

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

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Question 23

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To avoid temporary storage in a warehouse, cross-docking can be used.

The service function of purchasing interfaces with many areas, including legal, accounting, and engineering functions.

It is especially the case for small businesses that closer interactions and increased agility make __________ relatively more attractive.

A given inventory item has a per-year holding cost of $500. One method of shipping this item is three days faster than the other, but it is $2.50 more per unit. Using the slower method would be __________ more expensive overall than using the faster method.

An advantage of decentralized purchasing is the attention given to local needs.

The goal of supply chain management is to synchronize supply and demand of all of the organizations that are part of the chain.

Vendor analysis is the process that evaluates the source of supply in terms of price, quality, reputation, and service.

After outsourcing to global suppliers, __________ is not simple.

A 30 percent reduction in product and service variety will not affect the efficiency of a supply chain.

One of the major reasons for a company to adopt third-party logistics is to concentrate on one's core business.

Which of the following is not true of vendor analysis?

Outsourcing logistics gives a company less flexibility because it forces them to focus more on core businesses.

The optimization of the supply chain uses a mathematical model to determine the optimal number of business organizations to be included in the chain.

Delayed differentiation is a means of increasing product variety without building the customized product from scratch or keeping large inventories of custom products.

One disadvantage to RFID is that it requires a clear "line of sight" to operate.

Vendor analysis examines the function of purchased parts and materials with a view toward improvement or cost reduction.

Gatekeeping contracts with 3PLs to minimize the cost of shipping returned goods.

The design of the supply chain and establishing partnerships with vendors and distributors are examples of operational issues in a supply chain.