Logistics
''FTL stands for:''
- fair transportation laws
- freight tax levy
- fixed transport lane
- full truck load
Solution: full truck load
Supply Chain
''The following are key components of the definition of supply chain management EXCEPT:''
- monitoring of supply chain activities with the objective of creating net value
- synchronizing of supply and demand
- building a competitive infrastructure
- selecting suppliers
Solution: selecting suppliers
Production
''When do corporations employ qualitative forecasting?''
- when products are low value
- when products are at the end of life stage
- when new products are introduced
- when reliable historical sales data is available
Solution: when new products are introduced
Supply Chain
''The following are major considerations when setting up a demand-driven supply chain EXCEPT:''
- real demand data visibility along the chain
- supply chain partner trust and collaboration
- responsiveness and ability to effect change
- input to corporate forecasting exercise
Solution: input to corporate forecasting exercise
Supply Chain
''The most important aspect of the supply chain strategy is that it should:''
- be forward looking
- be on the cutting edge of technology
- focus on customer needs
- integrate various entities that deliver the sub-processes
Solution: focus on customer needs
Systems
''Which of the following is LEAST likely to be considered a strategic IT tool?''
- decision support system (DSS)
- warehouse management system (WMS)
- advance planning and scheduling (APS) software
- supply chain management (SCM) software
Solution: warehouse management system (WMS)
Supply Chain
''What is one way to mitigate supply chain risks?''
- focus primarily on higher than optimal inventory levels
- develop a contingency plan based on internal perspectives
- prepare a risk mitigation plan once every other year
- build redundancy in your supplier base
Solution: build redundancy in your supplier base
Systems
''Object oriented databases are MOST likely to be used for:''
- storing HR training courses
- enterprise data warehouses
- ERP systems
- business intelligence tools
Solution: storing HR training courses
Supply Chain
''The MOST significant cost associated with RFID is:''
- passive RFID tags
- employee training
- infrastructure changes
- active RFID tags
Solution: infrastructure changes
Supply Chain
''All of the following are common tradeoffs encountered within supply chain networks EXCEPT:''
- lot size versus inventory
- lead time versus transportation costs
- product variety versus inventory
- forecast error versus inventory
Solution: forecast error versus inventory
Logistics
''Reverse logistics refers to:''
- returning trucks from deliveries
- backward scheduling deliveries
- movement of goods from customers back to the producer
- transport from the producer directly to the retailer
Solution: movement of goods from customers back to the producer
Supply Chain
''All of the following are financial benefits of e-business EXCEPT:''
- reduced cash-to-cash cycle
- reduced transportation costs
- increased customer lifetime profitability
- dynamic pricing to balance supply and demand
Solution: reduced transportation costs