SC1 Final Term Quiz No. 2

What is Supply Chain Management?

• a. The process of finding and acquiring goods, services, or works from an external source
• b. The process of managing the flow of goods and services from the raw material stage to the end user
• c. The process of procuring goods and services from a single source
• d. The process of managing the distribution of goods to the end user

What is the importance of supplies in supply chain management?

• a. It is the aspect that makes possible the availability of raw materials for the plant operations and production.
• b. It is the aspect that makes possible the availability of finished goods for customers.
• c. It is the aspect that makes possible the availability of human resources for the plant operations and production.
• d. None of the above.

What are the two areas where supply issues are experienced in the whole supply chain?

• a. At purchasing and supplier relationship
• b. At production and distribution
• c. At marketing and sales
• d. At finance and accounting

What is the common problem encountered in sourcing the right suppliers?

• a. Lack of technical know-how
• b. Staying up-to-date with regulations and compliance
• c. Lack of transparency and cooperation
• d. Choosing the right one which would not default or reneged in their commitment on the agreed volume

What is SRM?

• a. Supplier resource management
• b. Supplier relationship management
• c. Supplier risk management
• d. None of the above.

What is the importance of SRM?

• a. It helps to foster positive relationships with your suppliers.
• b. It helps to foster positive relationships with your customers.
• c. It helps to foster positive relationships with your employees.
• d. None of the above.

What are the different roadblocks to supply chain management?

• a. Purchasing, supplier relationship, issues in operational, distribution, and integration
• b. Marketing, sales, finance, and accounting
• c. Production, inventory, and customer service
• d. None of the above.

What is the importance of assessing and addressing the roadblocks to supply chain management?

• a. It helps to improve the efficiency and effectiveness of the supply chain.
• b. It helps to reduce the costs of the supply chain.
• c. It helps to improve customer satisfaction.
• d. All of the above.

What is the importance of supplier relationship management?

• a. It helps to increase the prices of goods and services.
• b. It helps to decrease the prices of goods and services.
• c. It helps to improve the quality of goods and services.
• d. It helps to decrease the competition in the market.

What is the importance of staying up-to-date with regulations and compliance?

• a. It helps to avoid legal and financial penalties.
• b. It helps to increase the costs of production.
• c. It helps to decrease the quality of goods and services.
• d. None of the above.