Question 1 of 10
10.0/ 10.0 Points
The close business relationship between Costco and Kimberly Clark is based upon a special arrangement where Kimberly Clark is responsible for replenishing stock in Costco warehouses. This process is called:
A.Just-in-time inventory
B.Revenue Sharing
Correct C.Vendor Managed Inventory
D.Vertical Integration
Answer Key: C
Question 2 of 10
10.0/ 10.0 Points
A strategic alliance occurs:
Correct A.When two or more independent organizations cooperate and willingly modify their business objectives and practices to help achieve long term goals and objectives
B.When a company builds on the strengths of the acquiring company by purchasing them.
C.When a company provides services to group shipments, orders, and/or goods to facilitate movement.
D.When a company manages inventory as unique business units, with full responsibility for assortments, inventory levels, shelf space allocation, and promotions assigned to the buyer.
Answer Key: A
Question 3 of 10
10.0/ 10.0 Points
Strategic alliances are becoming increasingly prevalent in all walks of business. Which of the following answers in not considered a strategic alliance?
A.Third party logistics (3PL)
B.Retailer-supplier partnerships (RSP)
C.Distributor Integration (DI)
Correct D.Customer Relationship Marketing (CRM)
Answer Key: D
Question 4 of 10
10.0/ 10.0 Points
Which of the following statements is not correct when describing 3PL business relationships?
A.Third party logistics is the use of an outside company to perform all or part of a company's materials management and product distribution functions.
B.3PL providers come in all sizes and shapes, from small companies with a few million dollars in revenue to huge companies with revenues in the billions.
Correct C.The use of 3PL logistics companies is most prevalent among small companies who do not have the capital resources or management expertise to be excellent in supply chain management.
D.3PL companies provide flexibility for organizations who need to need to meet customer service requirements without committing capital to construct a new facility or committing to a long-term facility lease.
Answer Key: C
Question 5 of 10
10.0/ 10.0 Points
Which of the following statements about retailer-supplier partnerships is not correct?
A.Suppliers receive POS data from retailers and use this information to synchronize their production and inventory activities with actual sales at the retailer.
Correct B.When a VMI partnership is implemented, the day-to-day contacts with retailers shifts from logistics personnel to the sales and marketing personnel.
C.The supplier decides on the appropriate inventory levels of each of the products and the appropriate inventory policies to maintain these levels.
D.With VMI, the supplier can decrease total costs by coordinating production and distribution for many retailers.
Answer Key: B
Question 6 of 10
0.0/ 10.0 Points
What was the biggest opportunity identified in the vested outsourcing video
A.Zero Sum Game
B.Activity based Payments
Incorrect C.Short cycle inventories
D.Late deliveries by 3 PL carriers
Answer Key: A
Question 7 of 10
0.0/ 10.0 Points
Which of the following statements is not part of the five (5) steps in vested outsourcing?
Incorrect A.Create an outcome based business model
B.Focus on the what not the how
C.Clearly define measurable outcomes
D.Micro manage the suppliers to ensure performance
Answer Key: D
Question 8 of 10
10.0/ 10.0 Points
Which of the following statements is not a good reason/benefit to outsourcing your logistics operation?
A.Increased Flexibility in your operation by expanding or growing when necessary.
B.Focus on core competency. Do you do well and let the experts handle other activities or functions
C.Economies of Scale as large logistic providers can pool resources to achieve lower costs.
Correct D.Increased Capital Investment provides solid returns on the funds required to support the business.
Answer Key: D
Question 9 of 10
10.0/ 10.0 Points
Which of the following answers is not part of the value proposition for participating in eprocurement activities?
A.Serves as an intermediary between buyers and sellers
B.Identifies saving opportunities
C.Increases the number of suppliers involved in the bidding process
Correct D.Enhances the suppliers brand image
Answer Key: D
Question 10 of 10
10.0/ 10.0 Points
Which of the following answers is not part of the current eprocurement market systems?
A.Value-added independent emarkets that offer additional services
B.Private emarkets which provide reverse auctions
C.Consortia based emarkets which are set up by industry
Correct D.Brand based emarkets which are set up by company product lines.
Answer Key: D
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