Supply Chain and Inventory Management Quiz

Which of the following is NOT a key supply chain activity?

• Procurement

• Production

• Accounting

• Distribution

Which component of the supply chain is responsible for transforming raw materials into finished goods?

• Suppliers

• Manufacturers

• Distributors

• Retailers

What is the main focus of logistics within the supply chain?

• Broad planning

• Day-to-day operations and movement of goods

• Long-term strategic planning

• Overseeing the entire flow of products

What is the primary goal of inventory management?

• Maximize excess stock

• Avoid stockouts and minimize excess

• Increase holding costs

• Complicate supply chains

Which of the following is an example of Work-In-Progress (WIP) inventory for a pizza shop?

• Flour

• Half-baked dough

• Boxed pizzas

• Cheese

Identify the correct inventory management strategy based on its characteristics.

Best quantity to order to reduce costs

Name three components of a supply chain.

What are two examples of inventory KPIs?

What are two risks of overstocking?

Only order stock when needed