Supply Chain Management Test: Quiz!

12 Questions | By Danielmore | Last updated: Mar 22, 2022 | Total Attempts: 3580

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Supply Chain Management Test: Quiz! - Quiz

Are you familiar with supply chain management? The primary goal of supply chain management is to create a supply chain that successfully achieves the proper order, which entails the right goods at the right place and time with the correct invoicing. Supply chain management represents an effort to run supply chains in the most efficient way possible. Look no further than this quiz if you are interested in supply chain management.

Questions and Answers

1.

The reverse supply chain is employed for the following reasons, EXCEPT:
- A.
  
  Repairs
- B.
  
  Disposal
- C.
  
  Recycling
- D.
  
  Quality control
2.

Which of the following is true about forecasting?
- A.
  
  It should be done once a year
- B.
  
  It should be conducted by the supply chain leadership
- C.
  
  It is more accurate for groups than for individual items
- D.
  
  It is better to under-forecast rather than over-forecast
3.

Which of the following describes the typical flow of cash in the supply chain?
- A.
  
  Customer to producer to supplier
- B.
  
  Producer to customer to supplier
- C.
  
  Supplier to producer to customer
- D.
  
  Customer to supplier to producer
4.

Customer relationship management (CRM) is best described as:
- A.
  
  A focus on managing long term supplier relationships
- B.
  
  A marketing philosophy based on putting the customer first
- C.
  
  Managing customers to promote your products
- D.
  
  Transactional guidelines when dealing with customers
5.

Supply chains create value by:
- A.
  
  Increasing profitability and return to shareholders
- B.
  
  Providing multiple variants of products for customers
- C.
  
  Making transaction processing more efficient
- D.
  
  Developing more accurate forecasts
6.

What is S&OP?
- A.
  
  A computer model to determine available supply-chain capacity.
- B.
  
  A system for long-range planning of revenues and costs
- C.
  
  A process that provides management the ability to strategically direct its business to achieve a competitive advantage on a continuous basis
- D.
  
  A technique devised by Toyota to optimize operations
7.

Who devised the theory of constraints?
- A.
  
  W. Edwards Deming
- B.
  
  J.M. Juran
- C.
  
  Eli Goldratt
- D.
  
  Oliver Wight
8.

Incoterms 2010 are used in trading agreements to:
- A.
  
  Allocate responsibility for cost, risk and ownership between buyer and seller
- B.
  
  Specify delivery terms and conditions
- C.
  
  Fix the price and delivery of a shipment at an agreement date
- D.
  
  Determine allocation of risk and cost between buyer and seller
9.

Which of the following is not a reason for carrying inventory?
- A.
  
  To maintain independence of operations
- B.
  
  To take advantage of economic purchase-order size
- C.
  
  To make the system less productive
- D.
  
  To meet variation in product demand
10.

Minimum and maximum stock levels which determine when a reorder is placed and for how much is called:
- A.
  
  Turn over
- B.
  
  Purchase order
- C.
  
  POS
- D.
  
  Reorder points
11.

What does the acronym S&OP represent?
- A.
  
  Standard Operations Planning
- B.
  
  Sales and Operations Planning
- C.
  
  Supply and Operations Planning
- D.
  
  Supply and Operations Planning
- E.
  
  Service and Operations Process
12.

At which stage financial losses will usually occur in a product life cycle?
- A.
  
  Introduction
- B.
  
  Growth
- C.
  
  Maturity
- D.
  
  Decline