McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Uncategorized topics .
| 151. |
Integration of business economics and strategic planning has given rise to ane area of study called . |
| A. | Micro Economics |
| B. | Corporate Economics |
| C. | Macro Economics |
| D. | Managerial Economics |
| Answer» B. Corporate Economics | |
| 152. |
Factors affecting network design decisions |
| A. | strategic factor |
| B. | micro economic factor |
| C. | competitive factor |
| D. | all the above |
| Answer» D. all the above | |
| 153. |
From the economic system's point of view, the role of marke ting intermediaries is to transform the assortment of products made by producers into the assortment of products wanted by . channel members |
| A. | manufacturers |
| B. | marketers |
| C. | distributors |
| D. | consumers |
| Answer» D. consumers | |
| 154. |
Intermediaries play an importan t role in matching . |
| A. | dealer with customer |
| B. | manufacturer to product |
| C. | information and promotion |
| D. | supply and demand |
| Answer» D. supply and demand | |
| 155. |
Marketing logistics involves getting the right product to the right customer in the r ight place at the right time. Which one of the following is not included in this process? |
| A. | implementing the plan for the flow of goods and services |
| B. | planning the physical flow of goods and services |
| C. | gathering customer's ideas for new productsontrolling the physical flow of goods,services, and information |
| D. | none |
| Answer» C. gathering customer's ideas for new productsontrolling the physical flow of goods,services, and information | |
| 156. |
Which of the following is not an area of responsibility for a logistics manager? |
| A. | inventory |
| B. | marketing |
| C. | warehousing |
| D. | purchasing |
| Answer» B. marketing | |
| 157. |
From the economic system's point of view, the role of marketing intermediaries is to transform the assortment of products made by producers into the assortment of products wanted by channel members. |
| A. | manufacturers |
| B. | marketers |
| C. | distributors |
| D. | consumers |
| Answer» C. distributors | |
| 158. |
To reduce inventory management costs, many companies use a system called , which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation. |
| A. | reduction |
| B. | inventory management |
| C. | supply chain management |
| D. | economic order quantity |
| Answer» B. inventory management | |
| 159. |
Companies manage their supply chains through . |
| A. | information |
| B. | transportation modes |
| C. | competitors |
| D. | skilled operators |
| Answer» D. skilled operators | |
| 160. |
Julie Newmar recognizes that her company needs to provide better customer service and trim distribution costs through team work, both inside the company and among all the marketing channel organizations. Julie will begin the practice of . |
| A. | intermediation |
| B. | customer relationship management |
| C. | integrated logistics management |
| D. | horizontal marketing syste m management |
| Answer» C. integrated logistics management | |
| 161. |
Today, a growing number of firms now outsource some or all of their logistics to . intermediaries |
| A. | competitors |
| B. | third - party logistics providers |
| C. | channel member |
| D. | ross - functiona l teams |
| Answer» D. ross - functiona l teams | |
| 162. |
According to Professor Mentzer and colleagues, the supply chain concept originated in what discipline? |
| A. | marketing |
| B. | operations |
| C. | logistics |
| D. | production |
| Answer» B. operations | |
| 163. |
The supply chain management philosophy emerged in which decade? |
| A. | 1960s |
| B. | 1970s |
| C. | 1980s |
| D. | 1990s |
| Answer» B. 1970s | |
| 164. |
A encompasses all activities associated with the flow and transformation of goods from the raw material stage, through to the end user, as well as the associated information flows. |
| A. | production line |
| B. | supply chain |
| C. | marketing channel |
| D. | warehous |
| Answer» B. supply chain | |
| 165. |
Which of the following are not key attributes of supply chain management? |
| A. | inventory control |
| B. | leveraging technology |
| C. | custo mer power |
| D. | a long - termorientation |
| Answer» C. custo mer power | |
| 166. |
Positive, long - term relationships between supply chain participants refer to: |
| A. | co - opetition |
| B. | tailored logistics |
| C. | partnerships |
| D. | supply chain management |
| Answer» D. supply chain management | |
| 167. |
Cross docking is the major SC technique used by |
| A. | Flipkart |
| B. | Wall mart |
| C. | Dell |
| D. | Zara |
| Answer» B. Wall mart | |
| 168. |
The variability in demand orders among supply chain participants: |
| A. | cannot be controlled |
| B. | refers to the bullwhip effect |
| C. | can be controlled with electronic order placement |
| D. | is more pronounced in relational exchanges |
| Answer» B. refers to the bullwhip effect | |
| 169. |
Cooperative supply chain relationships developed to enhance the overall business performance of both parties is a definition of: |
| A. | third - party logistics |
| B. | supply chain collabor ation |
| C. | dovetailing |
| D. | relationship marketing |
| Answer» B. supply chain collabor ation | |
| 170. |
What is a perfect order? |
| A. | simultaneous achievement of relevant customer metrics |
| B. | an order that arrives on time |
| C. | an order that arrives undamaged |
| D. | an order that is e asy for the receiver to fill |
| Answer» A. simultaneous achievement of relevant customer metrics | |
| 171. |
The method of payment where the exporter relies on the undertaking of a bank to pay is |
| A. | Bank guarantee. |
| B. | Letter of credit. |
| C. | Letter of comfort. |
| D. | None of the above. |
| Answer» D. None of the above. | |
| 172. |
The beneficiary under a letter of credit is |
| A. | The bank opening the credit. |
| B. | The customer of the opening bank. |
| C. | The confirming bank. |
| D. | The exporter. |
| Answer» D. The exporter. | |
| 173. |
When a letter of credit does not indicate whether it is revocable or irrevocable, it is treated as |
| A. | Revocable. |
| B. | Irrevocable. |
| C. | Revocable or irrevocable in the option of the beneficiary. |
| D. | Revocable or irrevocable in the option of the negotiating bank. |
| Answer» B. Irrevocable. | |
| 174. |
Under an acceptance letter of credit, the responsibility of the issuing bank is |
| A. | Only to accept the bill. |
| B. | To pay against the bill. |
| C. | To accept the bill immediately and also to pay the amount of the bill on its due date. |
| D. | To get the acceptance of the importer on the bill. |
| Answer» C. To accept the bill immediately and also to pay the amount of the bill on its due date. | |
| 175. |
The warehouses located near the port is |
| A. | Field warehouse. |
| B. | Buffer storage warehouse. |
| C. | Bonded warehouse. |
| D. | Export and import warehouse. |
| Answer» D. Export and import warehouse. | |
| 176. |
The kind of warehouse that is licensed and authorized by the customs for storing goods till import duty is |
| A. | Field warehouse. |
| B. | Buffer storage warehouse. |
| C. | Bonded warehouse. |
| D. | Export and import warehouse. |
| Answer» C. Bonded warehouse. | |
| 177. |
The business activity of farming out identified non-core activities to external agenciesis |
| A. | Logistics. |
| B. | SCM. |
| C. | Outsourcing. |
| D. | Distribution. |
| Answer» C. Outsourcing. | |
| 178. |
Which of the following statements is true? |
| A. | Supply chain is a subset of logistics. |
| B. | Logistics is a subset of supply chain. |
| C. | Transportation and logistics are same. |
| D. | Logistics and supply chain are same. |
| Answer» B. Logistics is a subset of supply chain. | |
| 179. |
If a customer visiting a departmental store cannot find his desired soap manufactured by Hindustan Unilever Ltd (HUL) in the store, which of the following chain partner will he hold responsible for the non-availability of the soap? |
| A. | The logistics service provider |
| B. | The distributor |
| C. | The departmental store |
| D. | Hindustan Unilever Ltd |
| Answer» C. The departmental store | |
| 180. |
A Supply chain process is viewed as |
| A. | Birds eye view |
| B. | Technical view |
| C. | strategic view |
| D. | cyclic and push/pull view |
| Answer» D. cyclic and push/pull view | |
| 181. |
Supply chain is concerned with the |
| A. | flow of raw materials, WIP and finished products in the forward direction |
| B. | flow of information in both the directions |
| C. | flow of materials in the forward direction, cash in the reverse direction and information in both the directions |
| D. | flow of materials in the forward direction and that of cash in the reverse direction |
| Answer» C. flow of materials in the forward direction, cash in the reverse direction and information in both the directions | |
| 182. |
The objective of a supply chain is: |
| A. | to improve the efficiency across the whole supply chain |
| B. | to improve responsiveness across the whole supply chain |
| C. | to deliver improved value to the customers |
| D. | to improve the efficiency and responsiveness across the whole supply chain and also deliver improved value to the customers |
| Answer» D. to improve the efficiency and responsiveness across the whole supply chain and also deliver improved value to the customers | |
| 183. |
Which of the following statements is true? |
| A. | Ford supply chain is both highly efficient as well as highly responsive. |
| B. | Dell supply chain propagated the concept of long-term relationship with the suppliers. |
| C. | Toyota supply chain believed in medium-term relationship with the suppliers with loosely held supplier network. |
| D. | Dell supply chain is both highly efficient as well as highly responsive. |
| Answer» B. Dell supply chain propagated the concept of long-term relationship with the suppliers. | |
| 184. |
which type of demand forecast is related to environmental factors |
| A. | Qualitative forecast |
| B. | Time forecast |
| C. | Casual forecast |
| D. | Simulation forecast |
| Answer» C. Casual forecast | |
| 185. |
Which of the following statements is true regarding outsourcing? |
| A. | Higher level of outsourcing enables a firm to have better control on all outsourced activities. |
| B. | Higher level of outsourcing makes a firm more vulnerable to outside influences. |
| C. | Higher level of outsourcing enables a firm to outsource core activities to other competent players. |
| D. | Higher level of outsourcing enables a firm to outsource non-core activities to other competent players. |
| Answer» A. Higher level of outsourcing enables a firm to have better control on all outsourced activities. | |
| 186. |
If the focus of a retailer is to achieve leadership in cost, then which of the following phenomenon will hold good? |
| A. | Customers will like to have convenience and the retailers will also set up a number of stores at different locations in order to provide convenience to the customers. |
| B. | Customers will prefer a large variety of products and the retailer will also keep a large variety in the store in order to satisfy customer needs. |
| C. | Customers will prefer a large variety of products but the retailer will not keep a large variety in the store in order to achieve economies of scale. |
| D. | Customers will prefer short lead time for their products and the retailer will keep higher amount of inventory in order to satisfy customer needs in time. |
| Answer» C. Customers will prefer a large variety of products but the retailer will not keep a large variety in the store in order to achieve economies of scale. | |
| 187. |
The companies will realize the benefits of implementing IT when which of the following is undertaken? |
| A. | Companies need to invest heavily in information systems. |
| B. | Companies need to automate the existing supply chain systems and processes. |
| C. | Companies need to re-engineer their supply chain structure. |
| D. | Companies need to re-engineer their supply chain structure and undertake revision in the supporting organizational processes. |
| Answer» D. Companies need to re-engineer their supply chain structure and undertake revision in the supporting organizational processes. | |
| 188. |
Ford supply chain is characterized by |
| A. | Increased product variety |
| B. | Loosely-held supplier networks |
| C. | Vertical integration |
| D. | Long-term relationship with the suppliers |
| Answer» C. Vertical integration | |
| 189. |
Dell supply chain is characterized by |
| A. | Lean production systems |
| B. | Zero product variety |
| C. | Vertical integration |
| D. | Individual customization |
| Answer» D. Individual customization | |
| 190. |
Which of the following statements is true? |
| A. | A 3PL company is a professional logistics service provider meeting the logisticsrequirements of an organization and can also integrate its resources, capability, and technology in order to provide comprehensive solution to its customers. |
| B. | A 4PL company is a professional logistics service provider meeting the logisticsrequirements of an organization and can also integrate its resources, capability, and technology in order to provide comprehensive solution to its customers. |
| C. | A 3PL is a logistics service provider meeting only the logistics requirements of an organization while 4PL is a logistics service provider meeting the logistics requirements ofan organization and can also integrate its resources, capability and technology to provide comprehensive solution to its customers. |
| D. | A 4PL company is a professional logistics service provider meeting only the logistic requirements of an organization. |
| Answer» C. A 3PL is a logistics service provider meeting only the logistics requirements of an organization while 4PL is a logistics service provider meeting the logistics requirements ofan organization and can also integrate its resources, capability and technology to provide comprehensive solution to its customers. | |
| 191. |
Which one of the following is not the supply challenge being faced by the Indian organizations? |
| A. | Poor infrastructure |
| B. | IT implementation |
| C. | Complex taxation structure |
| D. | Smaller pack sizes |
| Answer» B. IT implementation | |
| 192. |
Many organisations hold safety stocks as part of their inventory. Which of the following is a reason for holding safety stocks? |
| A. | To improve stock holding levels |
| B. | To improve stock accuracy levels |
| C. | To cater for demand forecast errors |
| D. | To cater for a large storage capacity. |
| Answer» C. To cater for demand forecast errors | |
| 193. |
Which of the following stock valuation methods is based on a cost estimate made before the part is purchased? |
| A. | Standard costing |
| B. | FIFO |
| C. | Average costing |
| D. | LIFO. |
| Answer» A. Standard costing | |
| 194. |
The receipt used for warehouse is |
| A. | Inventory receipt |
| B. | Dock receipt |
| C. | EDI receipt |
| D. | Goods receipt |
| Answer» B. Dock receipt | |
| 195. |
Warehouses and stockyards are two types of storage facilities. Which of the following is the most appropriate factor to consider in the design of a stockyard? |
| A. | Structure |
| B. | Services |
| C. | Surface |
| D. | Shelving. |
| Answer» C. Surface | |
| 196. |
Managing predictable variability is |
| A. | managing the seasonal demand |
| B. | managing the change in demand that can be forecasted |
| C. | forecasted error ratio |
| D. | managing stock out situation |
| Answer» B. managing the change in demand that can be forecasted | |
| 197. |
Which of the following statements is true? |
| A. | Ford supply chain is both highly efficient as well as highly responsive. |
| B. | Dell supply chain is both highly efficient as well as highly responsive. |
| C. | Dell supply chain propagated the concept of long-term relationship with the suppliers. |
| D. | Toyota supply chain believed in medium-term relationship with the suppliers with loosely held supplier network. |
| Answer» C. Dell supply chain propagated the concept of long-term relationship with the suppliers. | |
| 198. |
Role of distribution in supply chain management |
| A. | providing localised services |
| B. | Collecting product reviews from customers which could be used by manufacturers |
| C. | Reduces inventory holding cost |
| D. | All the above |
| Answer» D. All the above | |
| 199. |
Which of the following types of container is used to carry oversized cargo? |
| A. | Bulk |
| B. | Flat rack |
| C. | Reefer |
| D. | Tank. |
| Answer» B. Flat rack | |
| 200. |
Which of the following is the name given to a bill of lading where goods have been received by a carrier free of defects? |
| A. | Shipped bill of lading |
| B. | Claused bill of lading |
| C. | Ordinary bill of lading |
| D. | Clean bill of lading. |
| Answer» D. Clean bill of lading. | |
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