International Business Practice
Questions
Course Introduction
International Business explores the dynamics of conducting commerce across national boundaries, focusing on the challenges and opportunities presented by the global marketplace. The course examines key concepts such as international trade theories, foreign direct investment, cultural differences, global supply chain management, international marketing, and the impact of political, economic, and legal environments on business strategies. Students gain an understanding of the complexities of international markets, learn to analyze global business trends, and develop the skills necessary to navigate cross-cultural negotiations and ethical considerations. This course is essential for those seeking to succeed in a rapidly evolving and interconnected world economy.
Recommended Textbook
Supply Chain Management A Logistics Perspective 10th Edition by John J. Coyle
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547 Verified Questions
547 Flashcards
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Page 2
Chapter 1: Supply Chain Management: an Overview
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34 Verified Questions
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Sample Questions
Q1) Most retailers are essentially supply chain companies since they:
A) dominate the consumer market.
B) own their warehouses and trucks.
C) buy products produced by others.
D) engage in off-shore sourcing.
Answer: C
Q2) Some individuals describe the current consumer as the "click here" generation because they:
A) all have Internet access.
B) no longer wait for information to be "pushed out" to them.
C) buy so much merchandise online.
D) take little time to make purchasing decisions.
Answer: B
Q3) Cost/value refers to:
A) getting the best value for the money spent.
B) U.S. firms competing in the global arena.
C) the importance of cost and value at the very end of the supply chain.
D) product variety.
Answer: C
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Page 3
Chapter 2: Global Dimensions of Supply Chains
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Sample Questions
Q1) From a customer service perspective, one of the four important characteristics for global market and strategy is that companies need to attempt to standardize to reduce complexity, but they have to recognize that global markets need some customization.
A)True
B)False
Answer: True
Q2) The central theme behind the theory of Comparative Advantage is that if one country has an advantage (lower cost) in the production of two products, they should focus on the production of both so that they gain the greatest advantage and trade when compared to other countries that may have a lesser advantage.
A)True
B)False
Answer: False
Q3) While the total world population has been increasing on an absolute basis, the rate of increase has declined.
A)True
B)False
Answer: True
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4
Chapter 3: Role of Logistics in Supply Chains
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36 Verified Questions
36 Flashcards
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Sample Questions
Q1) As the weight density of a product decreases, transportation cost per pound: A) increases.
B) decreases.
C) stays the same.
D) can't be determined.
Answer: A
Q2) As the dollar value of a product increases, packaging costs: A) increase.
B) decrease.
C) stay the same.
D) can't be determined.
Answer: A
Q3) As the dollar value of a product decreases, its transportation cost: A) increases.
B) decreases.
C) stays the same.
D) can't be determined.
Answer: B
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5
Chapter 4: Distribution and Omni Channel Network Design
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Sample Questions
Q1) Define the principles of tapering rates, blanket rates, and commercial zones and the implication of each on location selection.
Q2) Which is correct regarding tapering rates?
A) The principle is based on the carrier's ability to spread certain fixed shipment costs over a greater number of miles.
B) Transportation rates increase with distance directly in proportion to the distance.
C) In a one-source, one-market situation, the impact of the tapering rate will be to pull the location toward a point midway between the source and the market.
D) Uses transportation simplifications to recommend facility locations
Q3) List and discuss potential supply chain modeling pitfalls to avoid.
Q4) As the number of stocking points (DCs) is decreased in a distribution network, fixed costs will _____ and variable costs will _____.
A) decrease; decrease
B) decrease; increase
C) increase; increase
D) increase; decrease
Q5) What are the current trends governing site selection?
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Chapter 5: Sourcing Materials and Services
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Sample Questions
Q1) Landed costs are independent of sales/FOB terms.
A)True
B)False
Q2) Vendors may offer varying levels of discounts from their published prices.
A)True
B)False
Q3) When a firm makes a "make" decision when analyzing whether to "make or buy," they may still have to purchase some types of inputs from outside suppliers.
A)True
B)False
Q4) Commodities are items or services that are low in risk but high in value.
A)True
B)False
Q5) In the Item Procurement Importance Matrix, what item is described as low risk, low value?
A) Generics
B) Commodities
C) Criticals
D) Distinctives
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Chapter 6: Operations Producing Goods and Services
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Sample Questions
Q1) Companies now use strategies that are lean, flexible, or adaptive; they wait for customers to push products to the market.
A)True
B)False
Q2) Capacity requirements planning is used to check the feasibility of the materials requirement plan.
A)True
B)False
Q3) In an MRP system, this document identifies all of the components required to assemble an independent demand item.
A) Inventory status file
B) Bill of materials
C) Master production schedule
D) None of these answers
Q4) Processes that can produce a range of products are said to have economies of scope.
A)True
B)False
Q5) What is the "bullwhip effect," and how does it affect manufacturing?
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Chapter 7: Demand Management
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Sample Questions
Q1) The term functional silos refers to:
A) product storage for physical supply.
B) the noncommunication between customers and vendors.
C) a technique to secure corporate marketing strategies.
D) lack of coordination between departments.
Q2) There are at least three forecasting methods. Name them and choose one to discuss in more detail, including advantages and disadvantages.
Q3) Materials management and physical supply are terms that cannot be used interchangeably.
A)True
B)False
Q4) A weighted moving average assigns higher weights to more recent periods. A)True
B)False
Q5) Forecasting has become extremely accurate, especially since the development of the S&OP process.
A)True B)False
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Chapter 8: Order Management and Customer Service
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Sample Questions
Q1) From a marketing perspective, logistics customer service can be thought of as a feature of the augmented product that adds value for the customer.
A)True
B)False
Q2) Define and discuss the Order Management System.
Q3) The term replenishment cycle refers to:
A) orders for raw material.
B) material management.
C) the acquisition of additional inventory.
D) inventory and material management.
Q4) Define and discuss the Marketing/Logistics interface.
Q5) Which is NOT part of dependability?
A) Cycle time
B) Safe delivery
C) Correct orders
D) Consistent pricing
Q6) Explain how order management and customer service are related.
Q7) "Order to cash" and "order cycle" are the same.
A)True B)False
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Chapter 9: Managing Inventory in the Supply Chain
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Sample Questions
Q1) What are push and pull systems, and name at least one inventory management system that is a push or pull system?
Q2) Capital cost focuses on the cost of capital tied up in _____ and the resulting lost opportunity from investing that capital elsewhere.
A) plants
B) inventory
C) distribution centers
D) WIP
Q3) This type of inventory is influenced by the reliability of demand and lead time.
A) Cycle stock
B) WIP
C) Safety stock
D) Seasonal stock
Q4) How can inventory carrying cost be calculated for a specific product? What suggestions would you offer for determining the measure of product value to be used in this calculation?
Q5) Storage space costs are not variable.
A)True
B)False
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Chapter 10: Distribution
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Sample Questions
Q1) It is not difficult to find and train high-quality personnel for DC operations.
A)True
B)False
Q2) Discuss the choices for facility ownership, including public and contract warehousing.
Q3) The drawback of centralized inventory is:
A) that it undercuts the dispersed distribution concept.
B) that it increases the amount of inventory required.
C) strains the ability of the carrier network.
D) that it extends lead times and results in higher transportation costs.
Q4) Efficiency of distribution facilities and networks is not nearly as critical as their speed.
A)True
B)False
Q5) The first facility consideration is to determine:
A) how close to the source it should be.
B) the size of each operation within the network.
C) how close to the customer it should be.
D) where competitors are located.
Q6) Discuss facility layout and what factors should be considered.
Page 12
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Chapter 11: Transportation
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Sample Questions
Q1) All modes of transportation provide the same basic service.
A)True
B)False
Q2) The railroads have not shared in the growth in transportation and so do not have any capacity issues.
A)True
B)False
Q3) Rail is the mode of transportation that is the fastest shipment travelling over 800 miles.
A)True
B)False
Q4) The growth of outsourcing has created transportation challenges.
A)True
B)False
Q5) Software tools related to the movement of goods across the supply chain are lumped together in a general category called transportation management systems (TMS).
A)True
B)False
Q6) What are the three types of freight documentation? Discuss how each is used.
Page 13
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Chapter 12: Aligning Supply Chains
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Sample Questions
Q1) What are some example types of services that may be available from a 4PL provider?
Q2) The least-frequently used IT-based services by customers of 3PLs are:
A) transportation management (execution).
B) warehouse/distribution management.
C) global trade management and transport sourcing.
D) strategic and customer-related.
Q3) Full collaboration is the dynamic combination of:
A) buyers, sellers, retailers, and 3PLs.
B) buyers, sellers, retailers, 3PLs, and appropriate government agencies.
C) both vertical and horizontal collaboration.
D) buyers and sellers only.
Q4) How would you distinguish between the following terms: alignment, relationships, and collaboration?
Q5) Vertical integration refers to collaboration typically among buyers and sellers in the supply chain.
A)True
B)False
Q6) Define what a "transactional" relationship is, and discuss how this occurs in logistics.
Page 14
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Chapter 13: Supply Chain Performance Measurement and Financial Analysis
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Sample Questions
Q1) Order cycle time (OCT) is another very important logistics service metric. OCT influences product availability, customer inventories, and seller's cash flow and profit.
A)True
B)False
Q2) A metric is complex to define, usually involves a calculation or a combination of measurements, and is often in the form of a ratio.
A)True
B)False
Q3) Discuss the differences between the terms metric, measure, and index.
Q4) What is the "Order-to-Cash" cycle?
Q5) An "executive dashboard" is:
A) a small number (usually less than five) of KPIs.
B) used by senior management to track profits.
C) metrics used by an organization's suppliers.
D) a trend that has only recently developed.
Q6) Discuss the revenue-cost savings connection and include the formula.
Q7) There are seven factors in the successful development of supply chain metrics. Name them, and select any two to discuss in more detail.
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Chapter 14: Supply Chain Technology
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Sample Questions
Q1) How will the Internet of Things, mobile connectivity, and automation drive change in a supply chain?
Q2) Business intelligence applications are being used to gather information on competitors and their suppliers.
A)True
B)False
Q3) ERP systems are multimodal application software platforms that help organizations manage the important parts of their businesses.
A)True
B)False
Q4) Due to mergers and acquisitions in the software industry and ERP vendors moving into the supply chain applications market space, it is possible to purchase:
A) best of breed solutions from leading providers in each category.
B) supply chain software suites that combine planning, execution, event management, and related capabilities.
C) spreadsheet software with expanded capabilities.
D) event management tools that monitor the supply chain for events that are out of tolerance.
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Page 16
Chapter 15: Strategic Challenges and Change for Supply Chains
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Sample Questions
Q1) Name any five of the seven principles of supply chain management, and choose two to discuss in more detail.
Q2) Which one of the various stages of sophistication and robustness associated with supply chain analytics focuses on questions such as what is likely to happen, what are the likely trends, and what are the results if certain events occur?
A) Descriptive
B) Predictive
C) Prescriptive
D) Cognitive
Q3) A closed-loop system manages:
A) green laws.
B) waste flow.
C) both forward and reverse flows.
D) recycling.
E) none of these answers.
Q4) Corporate executives are already well aware of the impact supply chain management can have on their businesses.
A)True
B)False
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