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Supply Chain Management Study Set 2

Statistics

Quiz 13 :

Global Sourcing and Procurement

Quiz 13 :

Global Sourcing and Procurement

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A financially-driven reason for outsourcing is that it can reduce costs through a lower cost structure.
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True

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The optimal strategy for innovative products is to use an efficient supply chain.
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False

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Retailer behavior when stocking up during promotion periods (where the prices of goods are reduced) is called backward buying.
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False

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A financially-driven reason for outsourcing is that it can shorten cycle time.
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Outsourcing is the act of moving some of a firm's internal activities and decision responsibility to outside providers.
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An organizationally-driven reason for outsourcing is that it can transform the organization.
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Functional products include staples that people buy in a wide range of retail outlets, such as grocery stores and gas stations.
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Logistics is a term that refers to the management functions that support the complete cycle of material flow, from the purchase and internal control of production materials; to the planning and control of work-in-process; to the purchasing, shipping, and distribution of the finished product.
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Logistics is a term indicating transportation choices for goods produced internationally but consumed domestically.
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The best strategy for innovative products is to use either a responsive or an agile supply chain.
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The optimal strategy for functional products is to use a responsive supply chain.
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Strategic sourcing is the development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of the business.
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Outsourcing allows a firm to achieve an improved focus on its core competencies.
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Two common measures to evaluate supply chain efficiency are the inventory turnover and weeks-of-supply ratios.
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A financially-driven reason for outsourcing is that it can turn fixed costs into variable costs.
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Two common measures to evaluate supply chain efficiency are the consumer price index and the beta flow system.
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The optimal strategy for functional products is to use an efficient supply chain.
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An organizationally-driven reason for outsourcing is that it can improve effectiveness by focusing on what the firm does best.
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The phenomenon that magnifies the variability in order quantities for goods as orders move through the supply chain from the customer to the producer is called the bullwhip effect.
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Inventory turn values that are considered good differ by industry and the type of products being handled.
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