- Which of the following best describes ‘Supply Chain Integration’?A) The process of merging different departments within an organizationB) The alignment of supply chain processes and information systems across multiple organizations to improve efficiencyC) The integration of supply chain processes within a single company
D) The consolidation of financial resources for supply chain management
Answer: B) The alignment of supply chain processes and information systems across multiple organizations to improve efficiency
- What is the primary purpose of ‘Supply Chain Network Design’?A) To develop marketing strategiesB) To optimize the configuration of the supply chain network to meet demand and reduce costsC) To increase the number of suppliers
D) To enhance customer service quality
Answer: B) To optimize the configuration of the supply chain network to meet demand and reduce costs
- Which advanced forecasting technique uses historical data and machine learning algorithms to predict future demand?A) Exponential SmoothingB) Moving AverageC) Artificial Neural Networks (ANN)
D) Delphi Method
Answer: C) Artificial Neural Networks (ANN)
- What is the role of ‘Supply Chain Risk Management’?A) To minimize the cost of supply chain operationsB) To identify, assess, and mitigate risks that could disrupt supply chain operationsC) To develop new supply chain technologies
D) To expand global supply chain networks
Answer: B) To identify, assess, and mitigate risks that could disrupt supply chain operations
- In the context of supply chain management, what does ‘Just-in-Time (JIT)’ refer to?A) A strategy for reducing inventory levels by receiving goods only as they are needed in the production processB) A method for increasing warehouse storage capacityC) A technique for improving product quality
D) A system for forecasting demand
Answer: A) A strategy for reducing inventory levels by receiving goods only as they are needed in the production process
- What is ‘Vendor-Managed Inventory (VMI)’?A) A system where the vendor is responsible for managing the inventory levels at the customer’s siteB) A process for managing supplier contractsC) A method for increasing production efficiency
D) A technique for reducing supplier lead times
Answer: A) A system where the vendor is responsible for managing the inventory levels at the customer’s site
- Which of the following concepts involves using data analytics to optimize inventory levels and reduce costs?A) Demand PlanningB) Inventory OptimizationC) Supplier Relationship Management
D) Logistics Management
Answer: B) Inventory Optimization
- What does ‘Blockchain Technology’ bring to supply chain management?A) Increased supply chain complexityB) Greater transparency and security through immutable recordsC) Higher inventory costs
D) Reduced collaboration between supply chain partners
Answer: B) Greater transparency and security through immutable records
- In supply chain management, what is ‘Agile Supply Chain’?A) A supply chain that focuses on cost reduction and efficiencyB) A supply chain that is designed to be flexible and responsive to changes in demand and supply conditionsC) A supply chain that relies solely on long-term contracts with suppliers
D) A supply chain that minimizes the use of technology
Answer: B) A supply chain that is designed to be flexible and responsive to changes in demand and supply conditions
- Which of the following strategies focuses on maintaining a balance between supply and demand by using multiple suppliers and production locations?A) Centralized Supply Chain StrategyB) Decentralized Supply Chain StrategyC) Lean Supply Chain Strategy
D) Vertical Integration Strategy
Answer: B) Decentralized Supply Chain Strategy