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CMA – Charted Management Accountant
ACCA
Supply Chain Management
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Business Management
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Plans
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Supply Chain Management – Mock Exam
Supply Chain Management – Mock Exam
October 28, 2020
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Welcome to your Supply Chain Management - Mock Exam
Which of the following statements is WRONG regarding ‘force majeure’?
Force majeure is a legal concept.
Force majeure is widely used in war or battlefield.
Force majeure is used in contracts to justify why someone is unable to meet their obligations.
Force majeure means there was a problem that parties to the contract could not have predicted, prepared for, or prevented.
Which of the following is NOT a principle of Supply Chain Management?
Customer focus
Systems thinking
Invisibility
Risk management
Which of the following statements is INCORRECT?
Supply chain management depends on technology.
The technology used in supply chain management is always complicated which can be updated daily.
Each business, and each function within each business has different technology needs.
Implementing the right technology at the right time is an important step in the New Supply Chain Agenda.
Which of the following is NOT a proper way that a logistics department might try to achieve its goals?
Consolidating many small shipments into one large shipment to increase velocity
Switching from one mode of transportation to another, either to lower costs or increase velocity
Increasing or decreasing the number of distribution centres to increase velocity or lower costs
Outsourcing logistics services to a third-party logistics (3PL) company
What can an organisation do if it has to manage urgent orders and production?
Create a small team of expeditors with members from the operations department
Create a small team of expeditors with members from the production department.
Create a small team of expeditors with members from both the operations and purchasing department.
Create a small team of expeditors with members from the administration department.
Which of the following is NOT an effective way that can reduce and even eliminate the ‘bullwhip effect’?
Make batches smaller
Improve forecasting
Take initiatives to change customer behavior
Improve communications
What is a ‘reinforcing loop’ in a supply chain systems model?
A series of events repeating over and over and getting stronger each time.
A single event getting stronger over time.
A single event getting weaker over time.
A series of events repeating over and over and getting weaker each time.
Which of the following statements is INCORRECT?
Collecting measurements costs money and takes time, so it is important to decide which metrics an organization really needs.
The KPIs in one business or facility are not very different from the KPIs in another business or facility.
Companies can benchmark their supply chain KPIs by using the SCOR Model.
System dynamics includes a set of tools for predicting how supply chains behave over time.
Setting production schedule and managing supplier contracts are two important tasks of supply chain management. Which of the following department(s) is/are responsible for these tasks?
Logistics and operations respectively
Only operations
Operations and purchasing respectively
Purchasing and logistics respectively
Which of the following is an example of quantitative metric?
Degree of satisfaction
Frequency
Likelihood of doing something
Level of agreement
Some great techniques are available to help with identifying what customers value the most when purchasing a product. Which of the following is NOT one of them?
Pick and drop testing (PDT)
Quality Function Design (QFD)
House of Quality (HOQ)
A-B test
Which of the following is the appropriate solution for conflicts and trade-offs between customer and supplier?
Sales and operations planning (S&OP)
Collaborative planning, forecasting and replenishment (CPFR)
Cross-functional teams
Forecasting
Which of the following is the appropriate solution for conflicts and trade-offs between Inventory and Customer service?
Sales and operations planning (S&OP)
Collaborative planning, forecasting and replenishment (CPFR)
Cross-functional teams
Forecasting
Which of the following transportation methods is the least expensive?
Sea container
Pipeline
Full truckload
Less than truckload
Which of the following is the appropriate solution for the trade-off between engineering department and purchasing department?
Total cost analysis
Collaborative planning, forecasting and replenishment (CPFR)
Design-build strategy
Lean manufacturing
Inventory that protects the organisation from a stock-out is called _______________________.
safety stock
extra stock
elastic stock
solid stock
Quality Function Design (QFD) is a technique which can identify what customers value the most when purchasing a product. What is another name of QFD?
Pick and drop testing (PDT)
Face to face test
House of Quality (HOQ)
A-B test
Which of the following supply chain priorities are appropriate for the product type ‘technology’?
High quality, uniqueness
Fast throughput, low inventory, wide variety
The balance between transportation/inventory cost and customer needs
Speed, flexibility, security
The goal for any supply chain is to deliver maximum value at the lowest cost. One way to achieve this goal is to change the nodes and links. Making changes in the nodes and links is called ______________.
process optimization
network optimization
transport optimization
connectivity optimization
Supply chains are made up of people, processes, and technologies. All three components need to improve over time for a supply chain to remain competitive. What is the focus of ‘Six Sigma’-an approach to process improvement?
Reduce waste
Reduce variability
Relieve bottlenecks
Reduce steps in the production process
Supply chains are made up of people, processes, and technologies. All three components need to improve over time for a supply chain to remain competitive. What is the focus of ‘Theory of Constraints’-an approach to process improvement?
Reduce waste
Reduce variability
Relieve bottlenecks
Reduce steps in the production process
In the Lean approach, there are eight kinds of waste, which companies should be constantly driving out of their processes and their supply chains. Which of the following is NOT one of them?
Space
Transportation
Inventory
Motion
Six Sigma is a process improvement methodology which has five steps. Which of the following steps of Six Sigma has an element called ‘Voice of Customer’ (VOC)?
Improve
Define
Analyse
Control
What is another name of the ‘Toyota Production System (TPS)’?
Lean Manufacturing System
Six Sigma
Theory of Constraints
Kaizen
In a supply chain network diagram, relationships among tasks are called______________________.
hook
dependencies
predecessor
Successor
Which of the following statements is INCORRECT?
It is usually best to use qualitative metrics to understand how the supply chain is performing and where there are opportunities for improvement.
There's no such thing as a ‘perfect supply chain’ because supply chain performance depends on so many factors.
A good supply chain will always give customers what they want for a price that they're willing to pay while leaving a sufficient profit margin for the company.
In a fast-food restaurant, order-to-delivery-cycle and perfect order proficiency are quantitative metrics; they are based on objective data.
Which of the following statements is INCORRECT?
If a company has too much capacity, it is tying up capital without generating a return.
Capacity is the measure of how quickly a supply chain can provide a product or service to a customer.
Flexibility is the measurement of how well a supply chain scales up or ramps down in response to change.
Supply chain management needs to provide the capacity, responsiveness, and flexibility that customers need at the lowest possible cost.
Which of the following is NOT a process under the SCOR model?
Plan
Source
Accept
Make
If an owner needs to decide wherefrom he will buy ingredients and supplies. He needs to negotiate with the suppliers in order to get the best prices, along with the best quality and service. Under the SCOR model this process is called ‘_________________’.
Plan
Source
Accept
Make
When the supply chain plan is based on a/an approach, initial forecasting guides how much customers are going to buy. This forecast drives all the manufacturing and distribution planning. The work is done and the products are ready to go before receiving an order from a customer.
stock-to-supply
engineer-to-order
make-to-order
make-to-stock
When the supply chain plan uses_____________________________approach, a customised product is made for each order. The product design is not finished until customer gives the specifications.
stock-to-supply
engineer-to-order
make-to-order
make-to-stock
Understanding customers' needs help make better decisions about the supply chain. There are three common ways to analyse customers and their needs. Which of the following is NOT one of them?
Market segmentation
Persona development
Key customer analysis
Key Performance Indicator
A CRM system can provide useful data for studying customers by tracking purchases and other interactions with customers. What does CRM stand for?
Customer Relationship Management
Credit Risk Management
Core Risk Management
Customer Risk Management
“Bob is a single man who works 60 hours a week and has an active social life outside work. For him, washing clothes is a chore but a necessary one. He buys his laundry soap in a drugstore near his urban apartment”. This situation is an example of________________________________
market segmentation
persona development
key customer analysis
key performance indicator
A/An______________is often used for repairs. The buyer agrees to pay the supplier set rates for the parts and labour that they use on a project.
time and materials contract
firm-fixed-priced contract
cost-plus contract
indefinite delivery contract
A/An______________sets out the amount of products or services that will be purchased and how much they will cost.
time and materials contract
firm-fixed-priced contract
cost-plus contract
indefinite delivery contract
Which of the following cash conversion cycles is common in all kinds of businesses, but expensive?
Zero cash conversion cycle
Positive cash conversion cycle
Negative cash conversion cycle
Repetitive cash conversion cycle
____________________________was one of the secrets to success in the early days of Dell Computer.
Zero cash conversion cycle
Positive cash conversion cycle
Negative cash conversion cycle
Repetitive cash conversion cycle
Making insurance for a product or service is an example of __________________________
accepting the risk
avoiding the risk
transferring the risk
mitigating the risk
Companies compile their purchasing data to evaluate what they buy, who they buy it from, and what they could change to drive additional value to their supply chain. This process is called __________________.
strategic sourcing
direct sourcing
relationship sourcing
circular sourcing
Which of the following is NOT a reason to end the relationship with the supplier?
The supplier turned out to be a bad partner
The changing markets and technologies
Thinking that supplier may dominate the business relationship in future
Unavoidable circumstances
Some suppliers sell products and services and then wait to get paid later. This is called ________________________________
net payment terms
payment in advance
payment on delivery
payment at sight
In which of the following cases a bank loan may be required to run the business?
Repetitive cash conversion cycles
Zero cash conversion cycles
Negative cash conversion cycles
Positive cash conversion cycles
What does ‘Master Demand Schedule (MDS)’ represent while planning for a production schedule?
High-level demand goal
Low-level demand goal
Average-level demand goal
Order based demand goal
What is ‘design capacity’?
The capacity to produce output in a Lean manufacturing system.
The actual output of a manufacturing process taking all the production constraints into account.
The maximum theoretical limit that a machine (or person) can produce.
The production limit considering all the production constraints into account which is lower than the theoretical limit.
What is ‘operating capacity’?
The capacity to produce output in a Lean manufacturing system.
The actual output of a manufacturing process taking all the production constraints into account.
The maximum theoretical limit that a machine (or person) can possibly produce.
The production limit considering all the production constraints into account which is lower than the theoretical limit.
Which of the following statements is INCORRECT regarding ‘discrete manufacturing process’?
Usually, the soft ice cream is made with a discrete manufacturing process.
Some products are manufactured as separate items or in batches which is called a discrete manufacturing process.
Many principles of discrete manufacturing also apply to the supply chains of service companies.
Discrete manufacturing usually is broken into steps that are repeated for each product.
Which of the following statements is FALSE regarding ‘Discrete manufacturing process’?
There are two different ways to execute the discrete manufacturing process: by assembly line or by cellular manufacturing.
With an assembly line, the same production steps are repeated at each station while the products keep moving down the line from one station to the next.
The time required for each step in an assembly line process is called ‘takt time’.
The cellular manufacturing process is used for manufacturing a mass production product like a cellular phone.
A ‘make-to-stock’ strategy has some shortcomings. Which of the following is NOT one of them?
If products are not available for the customers to buy, then customers may buy those products from a competitor supplier.
When a product is made before receiving an order, customers need to take the product the way it is; customisation is not possible for them.
Suppliers/manufacturers need to forecast how much the customers will buy and when they'll buy it.
There are chances that inventory can be stolen or damaged, or it can become obsolete and unusable.
Which of the following products is manufactured in a make-to-stock environment?
Gasoline
Asphalt
Hamburger
Specialty paints
Which of the following statements is INCORRECT regarding the transportation of goods?
Each combination of an origin (O) and a destination (D) is a called an O-D pair.
In generally LCL (Less than container load) tends to be less expensive than FCL (Full container load).
Moving a shipment from one mode to another is called transloading.
The time that it takes cargo to get from its origin to its destination is the transit time.
Which of the following statements is INCORRECT?
For liquids and gases, pipelines are often the cheapest, safest, and most reliable form of transportation.
Roll-on, roll-off vessels, called ROROs, are used to transport cars and other large items that need to be driven or dragged on and off the ship.
Many factories and distribution centers that ships a lot of cargo on trains have their own set of tracks installed, called ‘rail spurs’.
The unit of measure for container ships is 40-foot equivalent units (FEUs).
Which of the following statements is INCORRECT regarding transportation by a truck?
Two trucking modes are common in the United States: full truckload (FTL) and less than truckload (LTL).
With LTL the cargo is combined with other shippers' cargo in the same trailer.
Even though the trucks and trailers look virtually identical, the process and the pricing for FTL and LTL are different.
LTL shipments travel directly from the origin to the destination, without stopping in between; they generally are the fastest and most reliable way to ship a load.
The types of trailers that are most common in the United States are dry vans, flatbeds, and refrigerated trailers. Which of the following trailers is suitable for carrying long pipes?
Dry Vans
Flatbeds
Refrigerated trailers
Six-wheelers truck
Air cargo is often loaded into special containers called ‘__________________’ that are designed to protect both the cargo and the airplane.
igloos
cube
air-box
tail
Which of the following statements is INCORRECT regarding Incoterms?
Each Incoterm is a three-letter code that represents a particular shipping arrangement
Incoterms are used around the world and are periodically updated by the International Freight Forwarding Association.
The DDP (Delivered Duty Paid) Incoterm means that everything - including shipping costs and all duties - will be paid by the shipper.
The DAP (Delivered at Place) Incoterm means that shipping will be paid by the seller, but duties will be paid by the recipient.
Which of the following is NOT a likely reason for the return of a product?
Change of mind after seeing/purchasing product
Return of Gift item
Return of excess items
Lack of uniqueness in the product
Which of the following statements is INCORRECT?
Many businesses insist on giving their customers permission to return a product by issuing a return material authorisation (RMA).
A store that has a liberal refund policy makes customers doubtful about the product quality and disloyal to a brand.
Retail returns may come from a customer who received an unwanted gift; perhaps they didn't like the colour or it was the wrong size.
Product returns increase dramatically around holiday shopping periods.
Which of the following statements is INCORRECT?
In a closed-loop supply chain, all the components are recycled when the product reaches the end of its usable life.
A great example of a closed-loop supply chain involves batteries for electric cars.
Fraudulent returns or returns of fake products always come from criminals in a preplanned way.
Counterfeit products have a social cost as well because the profits often go to support organized crime.
Which of the following statements is INCORRECT?
In remanufacturing, a part is designed in such a way that it can be rebuilt and reused over and over.
In managing a closed-loop supply chain, inspection and sorting of incoming components are much easier.
A used part that's being returned for remanufacturing is called a core.
Remanufacturing is a common strategy for the parts used in cars, aeroplanes, and heavy equipment.
Which of the following statements is INCORRECT regarding remanufacturing?
In remanufacturing, a part is designed in such a way that it can be rebuilt and reused over and over.
A used part that's being returned for remanufacturing is called a core.
Remanufacturing is a common strategy for the parts used in cars, aeroplanes, and heavy equipment.
Only the owner of the organisation benefits from remanufacturing as it reduces production cost.
Which of the following statements is INCORRECT regarding supply chain direction?
Supply chains don't always flow in one direction, i.e. from the supplier to the customer.
There are many supply chains that operate from the supplier to the customer and vice versa.
Supply chains don't always flow in one direction, i.e. from the customer to the supplier.
Reverse supply chains always get as much attention as manufacturing and retail supply chains.
A great example of a closed-loop supply chain involves ___________________ .
petroleum oil used in vehicles
batteries for electric cars
plastic bags used for shopping
Computers used for record-keeping
Which of the following is NOT a proper area where remanufacturing is followed?
Very small products
Cars
Aero planes
Heavy equipment
Which of the following statements is INCORRECT?
Cars and cell phones are two common examples of Trade-ins.
Trade-in credits reduce the purchase price of the product, so they can increase sales of the organisation.
Trade-in programme is suitable for products that have shorter lives.
In a trade-in programme, a customer gets a shiny new product and doesn't have to worry about disposing of the old one.
Which of the following statements is INCORRECT regarding assets?
Supply chains tend to be asset-intensive, meaning there is a lot of money tied up in tools and equipment.
The efficiency of supply chain assets is measured by capacity utilisation.
Movable assets tend to get less attention than fixed assets because they are usually less expensive.
One common goal of supply chain managers is to increase asset efficiency, which can be achieved by increasing the number of assets and by using those assets less.
Which of the following statements is INCORRECT?
In order to manage the efficiency of fixed assets in supply chains, radio- frequency identification (RFID) tags and global positioning system (GPS) are used worldwide.
Assets fall into two main categories that are based on whether they can be easily moved.
Permanent assets are also called fixtures because they are attached to a building and difficult to move.
Most manufacturing machinery, as well as material handling equipment such as racks and conveyors, are permanent assets.
Most of the human resources problems that supply chain managers need to think about can be broken down into three processes. Which of the following is NOT one of them?
Recruit
Develop
Conflict Management
Retain
Which of the following statements is INCORRECT?
Counterfeit product is a recent phenomenon in supply chains.
Counterfeit products deprive legitimate companies of revenue
Counterfeit products cheat governments out of taxes.
Counterfeit products endanger consumers in some cases.
The United States and the European Union have laws regulating which suppliers can sell tungsten, tantalum, tin, or gold. These are often called_________________in the context of supply chain.
conflict minerals
necessary minerals
solid minerals
revenue minerals
The DIRECT project leadership model is a useful way to remember the six things that leaders need to help cross-functional teams focus on. Which of the following is NOT one of them?
Investigate the options
Change the systems and processes
Transition the people
Repeat the course of action
Which of the following is NOT a step of ‘CMM-the capability maturity model’?
Immature (ad-hoc processes, informal spreadsheets)
Developing (some formal processes, structured spreadsheets)
Standardized (documented processes, best-in-class software)
Mature (no further improvement is required, multiple software)
In which of the following cases installation of a supply chain software is generally NOT required?
When the software is purchased from a vendor.
When the software is made and customised by a programmer
When the user is subscribed to a cloud-based solution (rent).
When the software is downloaded without any cost.
Business Intelligence (BI) software needs to do three things very well. Which of the following is NOT one of them?
generate new data
connect with data
combine and analyze data
provide insights
Supply chain modelling can be based on some mathematical approaches. One of the approaches is ‘___________________’ in which we model probabilities. This model might estimate demand within a range. For example, between 400 and 600 units.
stochastic
deterministic
linear
zigzag
An approach that tracks the evolution of a process or the software that supports the process is the capability maturity model (CMM). Which of the following is the ‘Level 2’ of CMM?
Mature
Standardised
Developing
Immature
An approach that tracks the evolution of a process or the software that supports the process is the capability maturity model (CMM). Which of the following is the ‘Level 3’ of CMM?
Mature
Standardised
Developing
Immature
Which of the following is NOT a type of vendor in Gartner’s Magic Quadrant?
Suppliers
Challengers
Niche Players
Leaders
Which of the following statements is INCORRECT regarding ‘computer-aided design(CAD)’?
At present computers have become essential to the process of designing products.
A designer sends a CAD file directly to a computer-aided manufacturing (CAM) system, which decides how to manufacture or assemble the product from the CAD file.
When CAD/CAM processes are automated and integrated with one another, they are called virtual design.
Printouts and prototypes are still necessary before implementing the computer- aided design(CAD).
Which of the following is an example of ‘additive manufacturing’?
Cellular manufacturing
Automated manufacturing
Computer-aided design
3D printing
Which of the following statements is INCORRECT regarding ‘3D printing’?
3D printing is a broad term that covers many techniques, most of which use one of three types of material (feedstock) to make products: solid materials (usually in spools), powders, and liquids.
By far the most common 3D-printing technology uses spools of plastic as feedstock.
Waste and energy consumption is higher in 3D printing.
3D printers deposit small amounts of molten material in layers, gradually building a finished part through a process called fused deposition modelling (FDM).
___________is a type of computer programme that uses feedback loops to recognise patterns and learn from its own experience.
Artificial neural network (ANN)
Human-machine interface
Interlock
Programmable logic controller
All of the following are valid reasons for a supply chain manager to be aware of emerging technologies EXCEPT:
New technologies being developed could disrupt a product.
New technologies being developed could disrupt a business process.
Having knowledge on the latest technologies is a recent trend or fashion.
New technologies being developed could be a competitive advantage for the business.
___________________software could show which replenishments have been placed, which customer orders are being processed, and whether there is a risk of a stock-out.
Planning
Execution
Surveillance
Visibility
Which of the following statements is INCORRECT regarding blockchains?
A blockchain is a ledger that is distributed to many computers, called nodes.
The blockchain is a database made up of blocks of data that are connected in a chain.
To make a change in the database of the blockchain, such as adding information, one needs to add a new block of data to the chain.
After a block is added to the chain, it can be changed and modified later if required.
Dell Computer used________________to gain a competitive advantage in the early days of the PC industry.
retailing service
one-size-fits-all
mass customization
one stop solution
Which of the following is a disadvantage of cloud-based solutions?
Instant access to software upgrades
All users must have access to the Internet
Reductions in infrastructure and staff
Access to applications on any kind of device anywhere in the world
A computer program that is designed with Artificial Intelligence to perform a certain task is called_____________________. For example: Apple's Siri voice recognition system.
a console
an interlock
a code
an intelligent agent
Which of the following is NOT possible to achieve through implementing ‘postponement or delayed differentiation’?
Delayed customisation
Flexibility to change the product
Demand shaping
Sell the product to a different customer
How is the cash-to-cash cycle time calculated?
payable days-inventory days + receivable days
receivable days + inventory days + payable days
receivable days + inventory days - payable days
receivable days - inventory days + payable days
Sometimes, the best way to manage the inventory is to allow vendors to check the inventory levels, place replenishment orders, and keep the organisation from running out of the products. This way vendors can save time and money to the organisation. This is called ______________________.
third party managed inventory
self managed inventory
vendor-managed inventory
consignment inventory
Two dates are important. The 1st one is when an organisation spends money to buy components. The 2nd one is when the organisation collects payment from a customer for the sale of products. The time between these two dates is called________________________.
the date to date cycle
the cash-to-cash cycle
the credit to credit cycle
the supplier to customer cycle
You require customers to pay you when you take their orders, but your suppliers give you 15 days to pay them for the products that you buy. You don't maintain any inventory at all, because you wait to buy materials until you receive an order from your customer. So, your cash-to-cash cycle time is______________day(s)
zero
+7.5
-15
+15
Which of the following statements is INCORRECT regarding ‘bullwhip effect’?
The bullwhip effect is a recent phenomenon and it has been discovered just 2-3 years ago
The business roller coaster known as the bullwhip effect is one of the most common problems for supply chains.
The bullwhip effect occurs in all kinds of supply chains and can have devastating effects
Differences in the amount of product that gets ordered at each step of a supply chain can contribute to the bullwhip effect.
Which of the following statements is INCORRECT regarding ‘Metrics in Supply Chain’?
Most of the things in the supply chain cannot be measured, whether directly or indirectly.
Metrics give us data and allow us to make decisions based on facts rather than on hunches.
Measurement costs money because we need to invest in ways to capture, store and retrieve the data when we need it.
Supply chain measurements are usually called metrics.
If an order fill rate is 94 percent and an on-time delivery rate is 96 percent then perfect- order fulfillment (POF) would be ______________________.
95 percent
94 percent
96 percent
90 percent
One common customer metric is ____________________, which is the percentage of customer orders that supplier is able to ship within his/her desired response window.
on-time delivery
perfect delivery
order fill rate
comfort delivery
One of the most popular survey approaches is ‘Net Promoter Score (NPS)’ used for measuring customer satisfaction. What is the CORRECT formula for calculating NPS?
(Number of 7 to 10) / (Total Number of Responses) - (Number of 6s or less) / (Total Number of Responses) = NPS
(Number of 8 to 10) / (Total Number of Responses) - (Number of 7s or less) / (Total Number of Responses) = NPS
(Number of 9s and 10s) / (Total Number of Responses) - (Number of 6s or less) / (Total Number of Responses) = NPS
(Number of 1 to 10) / (Total Number of Responses) = NPS
Which of the following is based on someone's judgement or perception and is therefore subjective?
Volume of material
Size of shipment
Customer satisfaction
Staff’s attendance time
__________________________________Measure things that are important to the company. For example, inventory turns and employee satisfaction.
Quantitative metrics
Qualitative metrics
Internal metrics
External metrics
Which of the following tools is used to know why a customer has returned a product?
Barcodes
Reason codes
Chart of accounts
Original invoice of the product
One of the most popular customer survey approaches is to use a Net Promoter Score (NPS). If a customer chooses either 7 or 8 on a scale of 1 to 10, then s/he is considered __________________
a competitor
a neutral
a detractor
a promoter
Which of the following is an example of renewable energy source?
Natural gas
Wind
Coal
Petroleum
Which of the following is an example of ‘threat’ in supply chain management?
There is a possibility of a hurricane attack.
In the case of a hurricane attack, the factory would be flooded.
If the factory is flooded due to the hurricane attack no production would be possible.
Even after the factory is flooded due to the hurricane attack, production would be still possible because of the presence of an extra supporting factory.
Which of the following is an example of ‘disruption’ in supply chain management?
There is a possibility of hurricane attack.
In the case of a hurricane attack, the factory would be flooded.
If the factory is flooded due to the hurricane attack no production would be possible.
Even after the factory is flooded due to the hurricane attack, production would be still possible because of the presence of an extra supporting factory.
Risks can be either good or bad in supply chain management. There is a risk that an organisation might receive a big order. This is an example of ____________________.
upside adaptability
upside risks
downside adaptability
downside risks
Which of the following is an example that the supply chain is resilient?
There is a possibility of a hurricane attack.
In the case of a hurricane attack, the factory would be flooded.
If the factory is flooded due to the hurricane attack no production would be possible.
Even after the factory is flooded due to the hurricane attack, production would be still possible because of the presence of an extra supporting factory.
Risks that affect more than one facility or company could disrupt the entire supply chain, not just its parts. This risk is called ‘_________________’.
global risk
country risk
systemic risk
local risk
Which of the following statements is INCORRECT regarding scoring risks in the supply chain?
Risk can never have a zero score for either probability or impact.
The document that is used to track and score risks is called a risk register
A common way to visualize risks is to use a risk plot or a heat map.
If a risk gets a low score it means that we should ignore the risk as this is insignificant.
An agreement has been completed that the overseas supplier will deliver the products to the depot of the organisation. What kind of risk management is done here?
Accept the risk
Transfer the risk
Avoid the risk
Mitigate the risk
When one thing goes up while another thing also goes up perfectly every time- their correlation coefficient is__________________________.
0
+1.0
+0.1
-1.0
A supply chain manager wants to know where to locate a distribution centre to minimise shipping times. Which of the following methods is appropriate for him/her to use?
Modelling
Simulation
Optimisation
Linear interpolation
When making a scenario planning the decisions we need to make and things we could do fall into four categories. Which of the following is NOT one of them?
No-negligence
No-brainers
No-gainers
Contingent
Supply chain dashboard shows______________________which is the current status of key performance indicators.
data
number
information
report
One of the factors that is feeding the growth of Big Data is the explosion of ______________________.
smartphones
communication devices
sensors
internet
The rapid rate at which new data is being created has led to a trend called ‘ ______________________________ ’.
Data Storage
Big Data
Database
Data Sufficiency
_____________________means that two variables are connected in some way.
Causation
Correlation
Interpolation
Extrapolation
What is the correlation coefficient of the graph?
0
+1
-1
0.45
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