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1、Supply Chain Management ExerciseTrue or False1. A supply chain includes only the organizations directly involved in supplying components needed for manufacturing.Answer: FalseDifficulty: Moderate2. A supply chain consists of all parties involved, directly or indirectly, in fulfilling a customer requ
2、est.Answer: TrueDifficulty: Moderate3. A supply chain could be more accurately described as a supply network or supply web.Answer: TrueDifficulty: Moderate4. The objective of every supply chain is to maximize the overall value generated.Answer: TrueDifficulty: Easy5. The objective of every supply ch
3、ain is to maximize the value generated for the manufacturing component of the supply chain.Answer: FalseDifficulty: Moderate6. All supply chain activities within a firm belong to one of three macro processes CRM,ISCM and SRM.Answer: TrueDifficulty: Easy7. There is a close connection between the desi
4、gn and management of supply chain flows and the success of a supply chain.Answer: TrueDifficulty: Easy8. A company s comptiteive strategy defines the set of customer needs that it seeks to satisfy through its products and services.Answer: TrueDifficulty: Easy9. The value chain emphasizes the close r
5、elationship between all the functional strategies within a company.Answer: TrueDifficulty: Moderate10. A company s product development strategy defines the set of customer needs that it seeks to satisfy through its products and services.Answer: FalseDifficulty: Moderate11. A company s product develo
6、pment strategy specifies the portfoiol of new products that it will try to develop.Answer: TrueDifficulty: Easy12. A company s supply chain strategy specifies how the market will be segmented and how the product will be positioned, priced, and promoted.Answer: FalseDifficulty: Easy13. A compan y s s
7、upply chain strategy determines the nature of procurement and transportation of materials as well as the manufacture and distribution of the product.Answer: TrueDifficulty: Easy14. The degree of supply chain responsiveness should be consistent with the implied uncertainty. Answer: TrueDifficulty: Ea
8、sy15. The degree of supply chain responsiveness does not need to be consistent with the implied uncertainty.Answer: FalseDifficulty: Moderate16. The two major types of facilities are distribution sites and storage sites.Answer: FalseDifficulty: Moderate17. Inventory is an important supply chain driv
9、er because changing inventory policies can dramatically alter the supply chain s efficiency and responsiveness.Answer: TrueDifficulty: Moderate18. Information is potentially the biggest driver of performance in the supply chain as it directly affects each of the other drivers.Answer: TrueDifficulty:
10、 Easy19. The high utilization facility will have no more difficulty responding to demand fluctuations than one with a lot of unused capacity.Answer: FalseDifficulty: Easy20. Stock keeping unit (SKU) storage is the warehousing methodology that uses a traditional warehouse to store all of one type of
11、product together.Answer: TrueDifficulty: Moderate21. Warehouse unit storage is the warehousing methodology that uses a traditional warehouse to store all of one type of product together.Answer: FalseDifficulty: Moderate22. Distribution occurs between every pair of stages in the supply chain.Answer:
12、TrueDifficulty: Moderate23. Distribution only occurs between manufacturing and consumers in the supply chain.Answer: FalseDifficulty: Moderate24. Companies in the same industry often select very different distribution networks, because the choice of the distribution network can be used to achieve a
13、variety of supply chain objectives ranging from low cost to high responsiveness.Answer: TrueDifficulty: Moderate25. The main advantage of a distribution network with local storage is that it can lower the delivery cost and provide a faster response than other networks.Answer: TrueDifficulty: Moderat
14、e26. When designing supply chain networks, companies must build appropriate flexibility to help counter fluctuations in exchange rates and demand across different countries.Answer: TrueDifficulty: Moderate27. Inventory and facility costs increase as the number of facilities in a supply chain increas
15、e. Answer: TrueDifficulty: Moderate28. Transportation costs increase as the number of facilities is increased.Answer: FalseDifficulty: Moderate29. When faced with a network design decision, the goal of a manager is to design a network that minimizes the firm s costs while satisfying customer needs i
16、n terms of demand and responsiveness.Answer: FalseDifficulty: Hard30. The supply chain network is designed to maximize total profits, taking into account the expected margin and demand in each market, various logistics and facility costs, and the taxes and tariffs at each location.Answer: TrueDiffic
17、ulty: Easy31. Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and whether to build or lease warehouse space, cannot be altered in the short term.Answe
18、r: TrueDifficulty: Moderate32. Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and whether to build or lease warehouse space, rarely remain in place f
19、or several years.Answer: FalseDifficulty: Moderate33. Decisions made during the supply chain design phase regarding significant investments in the supply chain, such as the number and size of plants to build, the number of trucks to purchase or lease, and whether to build or lease warehouse space, d
20、efine the boundaries within which the supply chain must compete.Answer: TrueDifficulty: Moderate34. Long-term contracts for both warehousing and transportation requirements will be more effective if the demand and price of warehousing do not change in the future or if the price of warehousing goes u
21、p.Answer: TrueDifficulty: Easy35. Long-term contracts for both warehousing and transportation requirements will be more effective if either demand or the price of warehousing drops in the future.Answer: FalseDifficulty: Moderate36. The present value of future cash flows is found by using a discount
22、factor.Answer: TrueDifficulty: Moderate37. The rate of return k is also referred to as the present value of capital.Answer: FalseDifficulty: Easy38. A negative NPV for an option indicates that the option will lose money for the supply chain. Answer: TrueDifficulty: Moderate39. The decision with the
23、lowest NPV will provide a supply chain with the highest financial return.Answer: FalseDifficulty: Moderate40. In reality, demand and prices are highly uncertain and are likely to fluctuate during the life of any supply chain decision.Answer: TrueDifficulty: Moderate41. The goal of aggregate planning
24、 is to satisfy demand in a way that minimizes profit.Answer: FalseDifficulty: Easy42. Aggregate planning is a process by which a company determines levels of capacity, production, subcontracting, inventory, stockouts, and even pricing over a specified time horizon. Answer: TrueDifficulty: Moderate43
25、. Aggregate planning solves problems involving aggregate decisions rather than stock keeping unit (SKU) level decisions.Answer: TrueDifficulty: Easy44. Forecasting errors are dealt with in aggregate plans using either safety backlog or safety capacity.Answer: FalseDifficulty: Moderate45. Safety inve
26、ntory is defined as inventory held to satisfy demand that is higher than forecasted. Answer: TrueDifficulty: Easy46. Safety capacity is defined as capacity used to satisfy demand that is lower than forecasted. Answer: FalseDifficulty: Easy47. Companies should work with downstream partners to produce
27、 forecasts and with upstream partners to determine constraints when doing aggregate planning.Answer: TrueDifficulty: Easy48. The aggregate plan should be viewed primarily as an in-house tool that does not need to be communicated to supply chain partners.Answer: FalseDifficulty: Easy49. Given that fo
28、recasts are always wrong to some degree, the aggregate plan needs to have some flexibility built into it if it is to be useful.Answer: TrueDifficulty: Moderate50. With supply and demand management decisions being made independently, it is easier to coordinate the supply chain, thereby increasing pro
29、fit.Answer: FalseDifficulty: Moderate51. A firm can vary supply of product by controlling production capacity and inventory.Answer: TrueDifficulty: Easy52. A firm that uses flexible work hours from the workforce to manage capacity to better meet demand is using a seasonal workforce.Answer: FalseDiff
30、iculty: Moderate53. Offering a promotion during a peak period that has significant forward buying creates even more variable demand than before the promotion.Answer: TrueDifficulty: Easy54. Average inventory decreases if a promotion is run during the peak period and increases if the promotion is run
31、 during the off-peak period.Answer: FalseDifficulty: Easy55. Promoting during a peak demand month may decrease overall profitability if a significant fraction of the demand increase results from a forward buy.Answer: TrueDifficulty: Hard56. As forward buying becomes a smaller fraction of the demand
32、increase from a promotion, it is less profitable to promote during the peak period.Answer: FalseDifficulty: Hard57. As the product margin declines, promoting during the peak demand period becomes less profitable.Answer: TrueDifficulty: Easy58. Cycle inventory exists because producing or purchasing i
33、n large lots allows a stage of the supply chain to exploit economies of scale and increase cost.Answer: FalseDifficulty: Moderate59. A lot or batch size is the quantity that a stage of the supply chain either produces or purchases at a given time.Answer: TrueDifficulty: Moderate60. Cycle inventory i
34、s the physical inventory in the supply chain due to either production or purchases demanded by the customer.Answer: TrueDifficulty: Moderate61. The inventory profile is a plot depicting the level of inventory over time.Answer: TrueDifficulty: Easy62. A discount is volume-based if the pricing schedul
35、e offers discounts based on the quantity ordered in a single lot.Answer: FalseDifficulty: Hard63. A discount is volume-based if the discount is based on the total quantity purchased over a given period, regardless of the number of lots purchased over that period.Answer: TrueDifficulty: Easy64. Prici
36、ng schedules with all unit quantity discounts encourage retailers to increase the size of their lots, which reduces the average inventory and flow time in a supply chain.Answer: FalseDifficulty: Moderate65. Safety inventory is inventory carried for the purpose of satisfying demand that exceeds the a
37、mount forecasted for a given period.Answer: TrueDifficulty: Moderate66. Safety inventory is carried because demand forecasts are accurate and a product shortage may result if the forecast demand exceeds the actual demand.Answer: FalseDifficulty: Moderate67. Raising the level of safety inventory incr
38、eases product availability and thus the margin captured from customer purchases.Answer: TrueDifficulty: Moderate68. Raising the level of safety inventory increases inventory holding costs.Answer: TrueDifficulty: Easy69. Carrying excessive inventory can help counter demand volatility when new product
39、s come on the market.Answer: FalseDifficulty: Moderate70. The appropriate level of safety inventory is determined by the uncertainty of both demand and supply and the desired level of cycle inventory.Answer: FalseDifficulty: Moderate71. As the uncertainty of supply or demand grows, the required leve
40、l of safety inventories increases.Answer: TrueDifficulty: Moderate72. As the desired level of product availability increases, the required level of safety inventory decreases.Answer: FalseDifficulty: Easy73. Lead time is the gap between when an order is placed and when it is received.Answer: TrueDif
41、ficulty: Easy74. Periodic review policies require more safety inventory than continuous review policies for the same level of product availability.Answer: TrueDifficulty: Easy75. When using a continuous review policy, a manager has to account for the uncertainty of demand during the lead time and th
42、e review interval.Answer: FalseDifficulty: EasyMultiply Choice1. Which of the following is not a stage within a typical supply chain?a. Customersb. Retailersc. Wholesalers/Distributorsd. Manufacturerse. All of the above are stages within a typical supply chain.Answer: eDifficulty: Easy2. Supply chai
43、n profitability isa. not correlated to the value generated by the various stages of the supply chain.b. the total profit to be shared across all supply chain stages.c. the difference between the revenue generated from the customer and the overall cost across the supply chain.d. the total revenue gen
44、erated by the distributor stage of the supply chain.e. b and c onlyAnswer: eDifficulty: Difficult3. Successful supply chain management requires which of the following decision phases?a. supplychainstrategy/designb. supplychainplanningc. supplychainoperationd. all of the abovee. a and b onlyAnswer: d
45、Difficulty: Moderate4. The objective of customer order entry is toa. get the correct orders to customers by the promised due date at the lowest possible cost.b. maintain a record of product receipt and complete payment.c. maximize the conversion of customer arrivals to customer orders.d. ensure that
46、 orders are quickly and accurately entered and communicated to other affected supply chain processes.e. none of the aboveAnswer: dDifficulty: Easy5. The push/pull view of the supply chain is useful when considering strategic decisions relating to supply chain design, becausea. it categorizes process
47、es based on whether they are initiated in response to or in anticipation of customer orders.b. itspecifies the roles and responsibilities of each member of thesupplychain.c. itclearly defines the processes involved and the ownersof eachprocess.d. itfocuses on processes that are external to the firm.
48、e. itfocuses on processes that are internal to the firm.Answer: aDifficulty: Hard6. Which of the following statements about pull processes is accurate?a. May also be referred to as speculative processes.b. Execution is initiated in anticipation of customer orders.c. At the time of execution, demand must be forecast.d. May also be refe