AGB 425 EXAM 1 QUESTIONS AND ANSWERS 100% PASS
food supply chain - ANSWER anything between the source and final destination
source ex. farms, vineyards, ranches
final destination ex. supermarkets, restaurants
upstream - ANSWER refers to points earlier in the supply chain
downstram - ANSWER anything later in the supply chain
decision making in food supply chain - ANSWER 1. supply chain strategy
2. supply chain planning
3. supply chain operation
supply chain strategy - ANSWER Made several years in advance
E.g. what are we making? Where?
supply chain planning - ANSWER Made a quarter to a year in advance
E.g. how to transport goods? Changes in labeling?
supply chain operation - ANSWER Made weekly or daily
E.g. how much to buy? FOB or Delivered?
Wholesale prices! Trade promotions!
why are agricultural commodity prices on the rise? - ANSWER Population growth
Decrease in agricultural productivity GROWTH
Ethanol/Biofuel
Speculation
Weather
Rising prices true whether importing or buying domestically
Implications differ along the supply chain
agricultural prices are not just on the rise they are also... - ANSWER volatile
(supply shocks, demand shocks, input price volatility)
volatility - ANSWER Indicates how much and how quickly the value of an investment,
, market, or market sector changes
decreases as you move downstream because there is value added to the product
how have food prices inflated since 1970? - ANSWER food at home and away from home
has become less expensive since the 1970's
number of farms and average farm size 2008-2018? - ANSWER number of farms has
decreased and average farm size has increased
US beef supply chain - ANSWER 1. cow/calf operator
2. stocker farm to feed lot OR 2. feedlot
3. processor/slaughterhouse
4. distributor, retail, wholesaler, foodservice vendors
5. further processing consumer products fit to sell
US dairy supply chain - ANSWER 1. cow/calf operator
2. breeding facilitator
3. dairy farm
4. cooperative (most farms work/sell together)
5. processor
6. distributor, retail, wholesaler, foodservice vendors
US pork supply chain - ANSWER 1. breeding herd (either through abc or directly to step
2)
a. farrow/wean farm
b. wean/feeder farm
c. feedlot
2. processor
3. distributor, retail, wholesaler, foodservice vendors
4. further processing consumer products fit to sell
what percent of all supermarket products feature corn directly or indirectly? - ANSWER
75%
food supply chain - ANSWER anything between the source and final destination
source ex. farms, vineyards, ranches
final destination ex. supermarkets, restaurants
upstream - ANSWER refers to points earlier in the supply chain
downstram - ANSWER anything later in the supply chain
decision making in food supply chain - ANSWER 1. supply chain strategy
2. supply chain planning
3. supply chain operation
supply chain strategy - ANSWER Made several years in advance
E.g. what are we making? Where?
supply chain planning - ANSWER Made a quarter to a year in advance
E.g. how to transport goods? Changes in labeling?
supply chain operation - ANSWER Made weekly or daily
E.g. how much to buy? FOB or Delivered?
Wholesale prices! Trade promotions!
why are agricultural commodity prices on the rise? - ANSWER Population growth
Decrease in agricultural productivity GROWTH
Ethanol/Biofuel
Speculation
Weather
Rising prices true whether importing or buying domestically
Implications differ along the supply chain
agricultural prices are not just on the rise they are also... - ANSWER volatile
(supply shocks, demand shocks, input price volatility)
volatility - ANSWER Indicates how much and how quickly the value of an investment,
, market, or market sector changes
decreases as you move downstream because there is value added to the product
how have food prices inflated since 1970? - ANSWER food at home and away from home
has become less expensive since the 1970's
number of farms and average farm size 2008-2018? - ANSWER number of farms has
decreased and average farm size has increased
US beef supply chain - ANSWER 1. cow/calf operator
2. stocker farm to feed lot OR 2. feedlot
3. processor/slaughterhouse
4. distributor, retail, wholesaler, foodservice vendors
5. further processing consumer products fit to sell
US dairy supply chain - ANSWER 1. cow/calf operator
2. breeding facilitator
3. dairy farm
4. cooperative (most farms work/sell together)
5. processor
6. distributor, retail, wholesaler, foodservice vendors
US pork supply chain - ANSWER 1. breeding herd (either through abc or directly to step
2)
a. farrow/wean farm
b. wean/feeder farm
c. feedlot
2. processor
3. distributor, retail, wholesaler, foodservice vendors
4. further processing consumer products fit to sell
what percent of all supermarket products feature corn directly or indirectly? - ANSWER
75%
