Supply Chain Manager Exam: Trivia Quiz!

2.

What is the additional revenue over and above the costs of building a supply chain network?

Value
Reverse Supply Chain
Integration
Cross-border Sourcing

Correct Answer

A. Value

Explanation

The additional revenue over and above the costs of building a supply chain network is referred to as "value". This indicates that the supply chain network is generating more revenue than the expenses incurred in its construction. Value can be achieved through various means such as efficient operations, cost savings, improved customer satisfaction, and increased market share. It is an important metric for measuring the success and profitability of a supply chain network.

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3.

The components of Supply Chain Management include the following except?

Planning and Control
Organization Structure
Risk and Reward Structure
Process Re-engineering

Correct Answer

A. Process Re-engineering

Explanation

Process re-engineering is not a component of supply chain management. Supply chain management focuses on planning and control, organization structure, and risk and reward structure to optimize the flow of goods, services, and information from the point of origin to the point of consumption. Process re-engineering, on the other hand, refers to the fundamental rethinking and redesign of business processes to achieve dramatic improvements in performance. Although it can be a part of supply chain management initiatives, it is not specifically listed as a component in this question.

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4.

"Ultimately it is the customer who pays the price for service delivered that confirms the value and not the producer who simply adds cost until that point." Who made this statement?

Lambert Cooper
Gilmorte
Keith Oliver
Tony Hines

Correct Answer

A. Tony Hines

Explanation

Tony Hines made this statement. The statement emphasizes that the customer is the one who ultimately determines the value of a service based on the price they are willing to pay. It suggests that adding costs from the producer's perspective does not necessarily reflect the true value of the service, as it is the customer's perception and willingness to pay that confirms its value.

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5.

What is the main importance of Supply Chain Management?

To manage workforce effectively
To enable an organization compete healthily in International Markets
To be able to withstand harsh economy
To checkmate fraud and irregularities in company's activities

Correct Answer

A. To enable an organization compete healthily in International Markets

Explanation

Supply Chain Management is crucial for enabling an organization to compete healthily in international markets. It involves the coordination and integration of various activities such as sourcing, production, logistics, and distribution, which ensures the timely delivery of products or services to customers. By effectively managing the supply chain, organizations can enhance their operational efficiency, reduce costs, improve customer satisfaction, and gain a competitive advantage in the global market. It also helps in mitigating risks, adapting to changing customer demands, and exploring new market opportunities, thus enabling organizations to expand their presence and succeed in international markets.

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6.

What is the process through which information shared between supply chain partners is properly utilized to effectively complete the supply chain process?

Process Optimization
Supply Process
Process Integration
Process Imitation

Correct Answer

A. Process Integration

Explanation

Process integration is the correct answer because it refers to the process through which information shared between supply chain partners is properly utilized to effectively complete the supply chain process. This involves the seamless integration of various activities, systems, and processes across different partners in the supply chain, enabling efficient coordination and collaboration. By integrating processes, supply chain partners can streamline operations, improve communication, and enhance overall performance, resulting in better utilization of shared information and more effective completion of the supply chain process.

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7.

Which term is often confused with supply-chain management?

Operations
Strategy
Logistics
Regimentation

Correct Answer

A. Logistics

Explanation

Logistics is often confused with supply-chain management because both terms are related to the movement and management of goods and resources. While supply-chain management focuses on the entire process of planning, sourcing, manufacturing, and delivering products to customers, logistics specifically refers to the transportation, storage, and distribution of goods. The confusion arises because logistics is a key component of supply-chain management, but they are not interchangeable terms. Operations, strategy, and regimentation are not directly related to supply-chain management and therefore less likely to be confused with it.

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8.

Which is the correct order of the 5 essential stages of supply-chain management?

Source. Make. Plan. Deliver. Return.
Plan. Source. Make. Deliver. Return.
Plan. Make. Source. Deliver. Return.
Source. Plan. Make. Deliver. Return.

Correct Answer

A. Plan. Source. Make. Deliver. Return.

Explanation

The correct order of the 5 essential stages of supply-chain management is Plan, Source, Make, Deliver, Return. This order follows a logical sequence of steps in managing the supply chain. First, planning is done to determine the requirements and objectives. Then, sourcing is carried out to identify and select suppliers. After that, the manufacturing or making process takes place. Next, the products are delivered to the customers. Finally, the return stage involves managing any product returns or exchanges.

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9.

Supply chain consulting is the provision of expert knowledge, assessment of a supply chain's productivity, and proffering solutions that will improve the effectiveness and productivity of a supply chain.

Always true
True, but not always
Completely false
Depends on the type of supply chain

Correct Answer

A. Always true

Explanation

Supply chain consulting involves providing expert knowledge, evaluating the efficiency of a supply chain, and offering solutions to enhance its effectiveness and productivity. This statement implies that supply chain consulting is consistently true and applicable in all situations.

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10.

What is another term for supply chain coordination?

Channel coordination
Distribution coordination
Sales coordination
Coordinated chain

Correct Answer

A. Channel coordination

Explanation

Channel coordination refers to the process of managing and aligning activities across different entities in a supply chain to achieve common goals. It involves collaboration and communication between manufacturers, suppliers, distributors, and retailers to ensure smooth flow of products and information. This term emphasizes the importance of coordinating activities within the channel to optimize efficiency, minimize costs, and enhance customer satisfaction.

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Supply Chain Manager Exam: Trivia Quiz!

Supply Chain Management involves the following except what?

Quiz Preview

What is the additional revenue over and above the costs of building a supply chain network?

The components of Supply Chain Management include the following except?

"Ultimately it is the customer who pays the price for service delivered that confirms the value and not the producer who simply adds cost until that point." Who made this statement?

What is the main importance of Supply Chain Management?

What is the process through which information shared between supply chain partners is properly utilized to effectively complete the supply chain process?

Which term is often confused with supply-chain management?

Which is the correct order of the 5 essential stages of supply-chain management?

Supply chain consulting is the provision of expert knowledge, assessment of a supply chain's productivity, and proffering solutions that will improve the effectiveness and productivity of a supply chain.

What is another term for supply chain coordination?