SOM MIDTERM #2REVIEW NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100%
The level of outsourcing from companies has been
gradually been decreasing. - <<ANSWER>>False
Many companies are outsourcing the entire design and
manufacturing of their entire product. -
<<ANSWER>>True
Commodity components are highly specialized products
and must be strategically sources. - <<ANSWER>>False
Nonstrategic components are often purchased through
closely coordinated contracts with a select supplier. -
<<ANSWER>>False
In a make-to-order supply chain, the buyer is purchasing
items prior to knowing the customer demand based on a
forecast. - <<ANSWER>>True
In a sequential supply chain, each party determines its
own course of action independent of the impact of its
decisions on other parties. - <<ANSWER>>True
, In a sequential supply chain the supplier assumes all of
the risk while the buyer takes no risk. -
<<ANSWER>>False
Risk sharing is the process by which the supplier assumes
a portion of the risk thereby decreasing the likelihood of
out-of-stock probability. - <<ANSWER>>True
Quantity-flexibility contracts are contracts in which the
supplier provides full refund for returned (unsold) items as
long as the number of returns is no larger than a certain
quantity. - <<ANSWER>>True
In a pay-back contract, the buyer agrees to pay some
agreed-upon price for any unit produced by the
manufacturer but not purchased by the distributor. -
<<ANSWER>>True
key reason that companies are outsourcing major parts of
design and manutacturing is to
A. increase the speed with which products are delivered.
B. reduce labor costs
C. improve quality
D. Both A and B - <<ANSWER>>B. reduce labor costs
Nonstrategic components for products
A. can be purchased from a variety of suppliers
B. require effective contractual relationships focused on
coordinating supply chain.
C. Require close collaboration with suppliers
QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100%
The level of outsourcing from companies has been
gradually been decreasing. - <<ANSWER>>False
Many companies are outsourcing the entire design and
manufacturing of their entire product. -
<<ANSWER>>True
Commodity components are highly specialized products
and must be strategically sources. - <<ANSWER>>False
Nonstrategic components are often purchased through
closely coordinated contracts with a select supplier. -
<<ANSWER>>False
In a make-to-order supply chain, the buyer is purchasing
items prior to knowing the customer demand based on a
forecast. - <<ANSWER>>True
In a sequential supply chain, each party determines its
own course of action independent of the impact of its
decisions on other parties. - <<ANSWER>>True
, In a sequential supply chain the supplier assumes all of
the risk while the buyer takes no risk. -
<<ANSWER>>False
Risk sharing is the process by which the supplier assumes
a portion of the risk thereby decreasing the likelihood of
out-of-stock probability. - <<ANSWER>>True
Quantity-flexibility contracts are contracts in which the
supplier provides full refund for returned (unsold) items as
long as the number of returns is no larger than a certain
quantity. - <<ANSWER>>True
In a pay-back contract, the buyer agrees to pay some
agreed-upon price for any unit produced by the
manufacturer but not purchased by the distributor. -
<<ANSWER>>True
key reason that companies are outsourcing major parts of
design and manutacturing is to
A. increase the speed with which products are delivered.
B. reduce labor costs
C. improve quality
D. Both A and B - <<ANSWER>>B. reduce labor costs
Nonstrategic components for products
A. can be purchased from a variety of suppliers
B. require effective contractual relationships focused on
coordinating supply chain.
C. Require close collaboration with suppliers
