1. Benefits of a *global *marketing strategy, as compared to a *local *marketing strategy, include a

1. Benefits of a
*global *marketing strategy, as compared to a
*local *marketing
strategy, include
all of the following EXCEPT ________.
A.
the ability to
target market segments within countries
B.
uniformity in
distribution methods
C.
easier to balance
supply and demand
D.
low variability in
operations
E.
greater economies
of scale

1 points
QUESTION 2

1. Evaluate the
following data using the Mean Absolute Deviation method.
The most accurate
forecast is ________.
*Month*
*Sales*
*Forecast A*
*Forecast B*
June
1123
1110
1115
July
1087
1060
1105
August
1212
1130
1101
September
1154
1200
1130
A.
Forecast A
B.
Forecast B

1 points
QUESTION 3

1.

The sharing of
point of sale data by retailers can reduce the need for a
manufacturer to
carry inventory.

True

False

1 points
QUESTION 4

1. In 2008, Saks
Fifth Avenue cut the prices of many of its products by
up to 70% for all
of the following reasons EXCEPT ________.
A.
low sales levels
B.
high inventory
levels
C.
low cash on hand
D.
keeping up with
competitors who had cut prices by 70%
E.
limited
opportunities to raise capital though debt or equity

1 points
QUESTION 5

1. In a fixed order
quantity model, the reorder point formula is ROP =
dL + ZkσL. In this
formula, the “ZkσL” term represents ________.
A.
the target
inventory level
B.
the service level
C.
safety stock
D.
demand during lead
time
E.
the economic order
quantity

1 points
QUESTION 6

1. During
negotiations with its key supplier, managers at Fleury Fire
Equipment
identified an opportunity to reduce supply chain costs by
minimizing
inventory. The cost reductions were shared by both parties in
the negotiation.
This is an example of a distributive opportunity.

True

False

1 points
QUESTION 7

1.

In sourcing, the
price that ensures a long term supply of quality goods
is the ________.
A.

cost
B.

wholesale price
C.

total cost of
ownership
D.

fair price
E.

equilibrium price

1 points
QUESTION 8

1. Given the
following inputs, what is the annual holding cost?
Annual Demand 8000
units
Holding Cost Rate
10%
Ordering Cost $200
Order Quantity 800
units
Product Cost $50

A.
$4,000
B.
$20,000
C.
$800
D.
$40,000
E.
$2,000

1 points
QUESTION 9

1. If a supply
chain manager faces a dispute with a supplier and she
wants to resolve it
quickly and inexpensively, the preferred dispute
resolution
procedure would be ________.
A.
negotiation
B.
litigation
C.
segmentation
D.
arbitration
E.
mediation

1 points
QUESTION 10

1. An
organization’s reputation with regard to sustainability can be
influenced by the
sustainability reputation of its suppliers.

True

False

1 points
QUESTION 11

1.

Joint forecasting
between supply chain partners, such as manufacturers
and retailers, is a
key element of ________.
A.

vendor managed
inventory
B.

sales and
operations planning
C.

the Sustainable
Purchasing Protocol
D.

fixed time-period
forecasting
E.

collaborative
planning, forecasting, and replenishment

1 points
QUESTION 12

1. Qualitative
forecasting methods have the advantage of being objective
and consistent.

True

False

1 points
QUESTION 13

1. An advantage of
vendor managed inventory (VMI) is ________.
A.
the vendor decides
when orders are placed
B.
less financial
investment for the customer
C.
collaboration
between vendor and customer
D.
All of the above
E.
B & C

1 points
QUESTION 14

1. New Balance
Athletic Shoe Inc. is currently fighting against a Free
Trade Agreement,
arguing that the agreement will force the company to
reduce employment
in its US factories.

True

False

1 points
QUESTION 15

1. The Sustainable
Agriculture Initiative (SAI) is a group of 50
organizations who
share, at a precompetitive level, knowledge and
initiatives to
support the development and implementation of sustainable
agriculture
practices. The SAI can be best classified as a(n) ________
driver of
sustainability.
A.
mediation
B.
compliance
C.
innovation
D.
enforcement
E.
marketing-based

1 points
QUESTION 16

1. It is possible
for companies to minimize exchange rate risk through
________.
A.
global supplier
networks
B.
diversifying
production locations
C.
single sourcing
D.
producing only in
one country for the global market
E.
A & B

1 points
QUESTION 17

1.

The forecasting
manager for WetCo is preparing a sales forecast for
cases of water for
the month of July. Monthly sales for a six-month
period are as
follows:
*Month*
*Sales*
Jan
17,000
Feb
21,000
Mar
15,000
April
17,000
May
19,000
June
23,000

Compute the sales
forecast for July using exponential smoothing with an
alpha smoothing
constant = .70 and a June forecast of 20,000.
A.

23,000
B.

20,900
C.

21,600
D.

22,400
E.

22,100

1 points
QUESTION 18

1.

An organization
following a sustainability strategy in its supply chain
would prioritize
its goals as follows: People, followed by Place, followed
by Profit.

True

False

1 points
QUESTION 19

1.

In ABC inventory
analysis, an item can be categorized as a “C” for one
organization and a
“B” for another organization.

True

False

1 points
QUESTION 20

1.

An individual who
believes that corporations cause environmental
problems, but that
they can also play a large role in solving those
problems can best
be described as a _________ environmentalist.
A.

red
B.

dark green
C.

complete
D.

bright green
E.

light green

1 points
QUESTION 21

1. The purchasing
manager at Malkin Auto Parts would like to build a
trust-based
relationship with a new raw materials supplier. He should not
use a contract for
the initial transactions because the contract would
prevent trust from
developing.

True

False

1 points
QUESTION 22

1.

The mean and moving
average forecasting models are typically best for
_________ products.
A.

innovative
B.

functional

1 points
QUESTION 23

1. A distinction of
the ________ inventory system is that inventory is
monitored on a
continual basis.
A.
POQ
B.
ERP
C.
fixed-time period
D.
Q
E.
fixed-order
quantity

1 points
QUESTION 24

1. When a supplier
is the only source of a component or service, it
would have a high
level of ________ to the buyer.
A.
profitability
B.
scope
C.
tariffs
D.
criticality
E.
proximity

1 points
QUESTION 25

1. When monetizing
the environmental and social impacts of a supply
chain, ______
relates to the costs of avoiding damages before they occur.
A.
cost-of-control
B.
total cost of
ownership
C.
activity-based
costing
D.
damage costing
E.
life-cycle
assessment

1 points
QUESTION 26

1.

A sourcing manager
for a hospital system is planning to purchase
supplies through an
e-auction. Which of the following is a benefit that she
should expect to
receive?
A.

A series of
completely trustworthy bids
B.

Stronger
relationships with current suppliers
C.

A smaller set of
suppliers to choose from
D.

A reduction in the
time required to request and receive bids
E.

None of the above
are benefits of e-auctions

1 points
QUESTION 27

1. A weak
transportation infrastructure in a developing country can
result in ________.
A.
low shipping time
variability
B.
high lead time
variability
C.
lower distribution costs
D.
All of the above
E.
None of the above

1 points
QUESTION 28

1.

Supply chain
visibility can increase an organization’s performance
through ________.
A.

the elimination of
demand variability
B.

a shared
understanding of real-time demand data by all supply chain
partners
C.

putting more
pressure on suppliers
D.

improving
negotiations by giving buyers more information than suppliers
E.

the ability to
maintain higher inventory levels

1 points
QUESTION 29

1.

Efforts to improve
supply chain security present new challenges to
firms, including
________.
A.

increased
regulatory requirements
B.

increased transport
time and costs
C.

less variable lead
times
D.

a decreased need
for relationship management
E.

A & B

1 points
QUESTION 30

1. Countries that
rely greatly on explicit contracts and communication
are classified as
________ cultures.
A.
weak uncertainty
avoidance
B.
feminine
C.
high collectivism
D.
large power
distance
E.
low context