Answer in true or false:
1. Good management of the supply chain is a critical concept of cost reduction
a. True
b. False
2. A value chain can best be described as a high level model of how businesses receive raw materials as input, add value to the raw materials through the processes and sell finished products to Customers.
a. True
b. False
3. A supply chain is a network that includes planning design, producing and delivering products and services.
a. True
b. False
4. The following are components of the Global Value Chain EXCEPT:
a. Sourcing and procurement
b. International Logistics
c. Factory Operations
d. Information Technology
e. Providing Financing Plans to the Customer
5. With Vendor Managed Inventory (VMI), it is the responsibility of the Vendor to supply inventory replenishment to the Retailer.
a. True
b. False
6. The Three Dimensions of Global Operations and Logistics are the following EXCEPT
a. Functional
b. Sectorial
c. Cultural
d. Geographic
7. The traditional view of operating exposure for an exporting firm states that home currency appreciation leads to decreased revenues and a negative exposure. The following are recognized as complicating factors a business would need to consider in assessing its operating exposure to real exchange rate shocks EXCEPT.
a. Customer reactions
b. Competitor reactions
c. Shareholder reactions
d. Supplier reactions
e. Government reactions
8. A transaction exposure is contractual and a translation exposure refers to accounting. (Hint- Refer to Page 313 of the text)
a. True
b. False
9. The text suggests that the greatest risk in global sourcing contracts is that of the:
a. Currency Exchange Rate
b. Political and Cultural Issues
c. Religious Differences
d. Global Climate Changes
e. Bribes
10. Recent research suggests that companies should consider selecting suppliers on the basis of their contribution to balancing currency flows, rather that price and performance.
a. True
b. False
11. The three types of Foreign Exchange Markets are listed below. Which one is NOT considered one?
a. Spot
b. Forward
c. Reverse
d. Futures
12. Forward Contracts are much more structured than Futures Contracts
a. True
b. False
13. Futures contract trading is inexpensive and easy.
a. True
b. False
14. A hedging example buying insurance for your vehicle.
a. True
b. False
15. A product's manufacturing costs are considered "inbound logistics" and order fulfillment would be termed "outbound logistics".
a. True
b. False
16. The abbreviations CIF, FOB, FAS and CFR refer to Inventory Management models
a. True
b. False
17. ERP is an example of a Logistics Model
a. True
b. False
18. Just in Time (JIT) is an example of an Inventory Model successfully implemented by large and small businesses.
a. True
b. False
19. Forecasting Techniques include all of the following EXCEPT
a. Trend Extrapolation
b. Simulation Methods
c. Multiple Regression
d. Most squares
e. Winter's Model
20. Although well respected companies have a firm "no-bribe" policy, there may be certain opportunities where the term "fee" could be justified. Examples follow. Select the most correct answer.
a. Fee paid to local Tribal Leaders is acceptable
b. Fee paid to Non Government agencies representing a Client is acceptable
c. Fee paid to a Third Party not associated with the potential work is
acceptable
d. Never
e. Direct reporting Supervisor must pre-approve the fee
21. Enterprise Resource Planning (ERP) can:
a. Eliminate wasteful duplication
b. Streamline operations
c. Be Costly to Implement
d. a. and b. only
e. a., b., and c.
22. Incoterms describes transportation responsibilities between buyer and seller.
One example is:
a. Ex-Works
b. Kanban
c. Kaisen
d. JIT
e. Two Bin
23. Key drivers of Competitive Advantage for a company would be organized as all of the following EXCEPT:
a. Innovation
b. Quality
c. Service
d. Speed
e. Cost Competitivness
f. Sole Sourcing
24. Enterprise Resource Planning (ERP) is defined as:
a. The integration of a company's departments and functions through a single hardware/software application
b. Human Resource Strategic Plan
c. A high level management business strategy plan
d. Logistics Integration
25. Reverse Auctions typically best serve the small business owner.
a. True
b. False
26. Related to IP (Intellectual Property), Infringement, is defined as unauthorized use of IP rights of patents, copyrights and trademarks. Misappropriation is the unauthorized use of trade secrets.
a. True
b. False