International Business Test Preparation
Course Introduction
International Business explores the complexities of conducting commerce across national borders, focusing on the economic, cultural, legal, and political environments that impact global operations. This course examines the strategies employed by multinational corporations, the process of market entry and expansion, international trade theories, and the roles of global financial institutions. Through case studies and real-world examples, students will develop an understanding of cross-cultural management and ethical considerations in international markets, preparing them for decision-making in a globalized business landscape.
Recommended Textbook
Supply Chain Management Strategy Planning and Operation 6th Edition by Sunil Chopra
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17 Chapters
1295 Verified Questions
1295 Flashcards
Source URL: https://quizplus.com/study-set/194
Page 2
Chapter 1: Understanding the Supply Chain
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76 Verified Questions
76 Flashcards
Source URL: https://quizplus.com/quiz/2772
Sample Questions
Q1) Customer order entry is
A) the point in time when the customer has access to choices and makes a decision regarding a purchase.
B) the customer informing the retailer of what they want to purchase and the retailer allocating product to the customer.
C) the process where product is prepared and sent to the customer.
D) the process where the customer receives the product and takes ownership.
Answer: B
Q2) A supply chain includes only the organizations directly involved in supplying components needed for manufacturing.
A)True
B)False
Answer: False
Q3) Push processes may also be referred to as speculative processes.
A)True
B)False
Answer: True
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Page 3
Chapter 2: Supply Chain Performance: Achieving Strategic
Fit and Scope
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Which of the following defines the set of customer needs that a company seeks to satisfy through its products and services?
A) Competitive strategy
B) Product development strategy
C) Marketing and sales strategy
D) Supply chain strategy
Answer: A
Q2) For a company to achieve strategic fit, it must accomplish the following keys:
A) All functional strategies must fit together to form a coordinated overall strategy.
B) The different functions in a company must appropriately structure their processes and resources to be able to execute these strategies successfully
C) The overall supply chain must operate at the lowest cost possible to achieve success.
D) The design of the overall supply chain and the role of each stage must be aligned to support the supply chain strategy.
Answer: C
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Chapter 3: Supply Chain Drivers and Metrics
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69 Verified Questions
69 Flashcards
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Sample Questions
Q1) Which of the following would result in lower return on assets for Katz if all other entries in their selected financial data were held constant?
A) A reduction in earnings before interest and taxes
B) An increase in asset turnover
C) A reduction in total assets
D) An increase in profit margin
Answer: C
Q2) In the textbook, it mentions that Walmart has mandated the use of a specific technology by its top 100 suppliers at the level of product cases. What is the technology?
A) RFID
B) ERP
C) SCM
D) EDI
Answer: A
Q3) The high utilization facility will have difficulty responding to demand fluctuations.
A)True
B)False
Answer: True
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Chapter 4: Designing Distribution Networks and Applications to e-Business
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) The probability of having a product in stock when a customer order arrives is A) response time.
B) product variety.
C) product availability.
D) customer experience.
Q2) Distribution is a key driver of the overall profitability of a firm because A) the addition of distributors only adds cost to the supply chain.
B) it directly impacts both the supply chain cost and the customer experience.
C) it slows down the responsiveness of the supply chain.
D) it cannot be developed as a part of supply chain strategy.
Q3) The ability of the customer to track their order from placement to delivery is A) customer experience.
B) order visibility.
C) product availability.
D) response time.
Q4) The main advantage of in-transit merge over drop-shipping is the somewhat lower transportation cost and improved customer experience.
A)True
B)False
6
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Chapter 5: Network Design in the Supply Chain
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Decisions concerning the role of each facility are significant because
A) they determine the amount of flexibility the supply chain has in demanding change.
B) they determine the amount of flexibility the supply chain has in changing the way it meets demand.
C) they determine the amount of capacity the supply chain has in changing the way it meets demand.
D) they determine the amount of inventory the supply chain has in demanding change.
Q2) High tariffs lead to more production locations within a supply chain network, with each location having a lower allocated capacity.
A)True
B)False
Q3) Decisions concerning the role of each facility are significant because they determine the amount of rigidity the supply chain has in changing the way it meets demand.
A)True
B)False
Q4) Describe the four phases in the framework for network design decisions.
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Chapter 6: Designing Global Supply Chain Networks
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) A global supply chain with offshoring would tend to see which of these performance dimensions increase?
A) Labor costs
B) On time delivery
C) Supply chain visibility
D) Minimum order quantity
Q2) Use the information from Scenario 6.1 to determine the likelihood of high demand that would make the decision maker indifferent between the two alternatives for a two year operating time.
A) 0.86
B) 0.72
C) 0.28
D) 0.14
Q3) Short-term contracts for both warehousing and transportation requirements will be more effective
A) if the demand and price of warehousing do not change in the future.
B) if the price of warehousing goes up in the future.
C) if either demand or the price of warehousing drops in the future.
D) only if demand drops in the future.
Q4) Summarize the steps in the decision tree analysis methodology.
Page 8
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Chapter 7: Demand Forecasting in a Supply Chain
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73 Verified Questions
73 Flashcards
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Sample Questions
Q1) When all stages of a supply chain produce a collaborative forecast, it tends to be
A) much more detailed.
B) much more complex.
C) much more accurate.
D) much more flexible.
Q2) Calculate the MSE for this Table if the forecasts for periods 1-10 are in order, 176.6, 174.2, 176.1, 178.7, 160.4, 165.4, 177.7, 191.1, 191.0, and 175.2.
A) 216.60
B) 219.80
C) 210.40
D) 221.20
Q3) The measure of forecast error where the average absolute error of each forecast is shown as a percentage of demand is
A) mean squared error (MSE).
B) mean absolute percentage error (MAPE).
C) bias.
D) the tracking signal.
Q4) Discuss key issues of forecasting in practice.
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Page 9
Chapter 8: Aggregate Planning in a Supply Chain
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76 Verified Questions
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Sample Questions
Q1) Companies should work with downstream partners to produce forecasts and with upstream partners to determine constraints when doing aggregate planning.
A)True
B)False
Q2) The operational parameter concerned with the planned inventory carried over the various periods in the planning horizon is
A) production rate.
B) overtime.
C) backlog.
D) inventory on hand.
Q3) Discuss key issues to be considered when implementing aggregate planning.
Q4) To create an aggregate plan, a company must specify the planning horizon for the plan and the duration of each period within the planning horizon.
A)True
B)False
Q5) Formulate the aggregate plan using linear programming and solve it using Solver.
Q6) Formulate the aggregate plan using linear programming.
Q7) Discuss the information required for aggregate planning.
Page 10
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Chapter 9: Sales and Operations Planning: Planning Supply and
Demand in a Supply
Chain
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77 Verified Questions
77 Flashcards
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Sample Questions
Q1) A firm can vary supply of product by controlling A) inventory.
B) pricing.
C) demand.
D) revenue.
Q2) Which of the following is an approach that firms can use when managing inventory to meet predictable demand variability?
A) Time flexibility from workforce
B) Use of seasonal workforce
C) Use of subcontracting
D) Using common components across multiple products
Q3) Predictable variability is
A) change in demand that can be forecasted.
B) change in demand that cannot be forecasted.
C) change in demand that has been planned.
D) change in demand that has been scheduled.
Q4) Predictable variability is change in demand that cannot be forecasted.
A)True
B)False
Q5) Discuss the impact of promotion on demand within a supply chain.
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Chapter 10: Coordination in a Supply Chain
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76 Verified Questions
76 Flashcards
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Sample Questions
Q1) The bullwhip effect decreases
A) product availability.
B) manufacturing cost.
C) replenishment lead time.
D) transportation cost.
Q2) Measuring performance based on sell-through is often justified on the grounds that the manufacturer's sales force does not control sell-in.
A)True
B)False
Q3) Situations in which the pricing policies for a product lead to an increase in variability of orders placed are referred to as
A) incentive obstacles.
B) information processing obstacles.
C) operational obstacles.
D) pricing obstacles.
Q4) Describe the impact of forecasts based on orders rather than actual customer demand.
Q5) What is the bullwhip effect and how does it relate to lack of coordination in the supply chain?
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Chapter 11: Managing Economies of Scale in the Supply
Chain: Cycle Inventory
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75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/2782
Sample Questions
Q1) Total ordering and holding costs
A) are relatively stable.
B) are relatively stable around the economic order quantity.
C) are relatively unstable around the economic order quantity. D) are unstable.
Q2) What is the cost to run Sammy's at the economic production lot size?
A) $5.46
B) $2.73
C) $1.36
D) $0.68
Q3) Lot sizes and cycle inventory do not affect the flow time of material within the supply chain.
A)True
B)False
Q4) Pricing schedules with all unit quantity discounts encourage retailers to A) decrease the size of their lots.
B) increase the size of their lots.
C) decrease the size of their inventory.
D) increase the price of their products.
Q5) Discuss the characteristics of a successful multi-echelon supply chain.
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Chapter 12: Managing Uncertainty in a Supply Chain: Safety Inventory
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80 Verified Questions
80 Flashcards
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Sample Questions
Q1) The appropriate level of safety inventory is determined by the uncertainty of both demand and supply and the desired level of cycle inventory.
A)True
B)False
Q2) What is an explanation offered for why firms have not historically tracked stockouts very well?
A) There is no agreed upon definition of stockouts.
B) There is no way to track stockouts.
C) Stockouts occur after the fact.
D) Stockouts are difficult to track.
Q3) Aggregation reduces the standard deviation of demand
A) only if demand across the regions being aggregated is perfectly positively correlated.
B) only if demand across the regions being aggregated is not perfectly positively correlated.
C) even if demand across the regions being aggregated is not perfectly positively correlated.
D) whenever demand across the regions being aggregated is not perfectly positively correlated.
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Chapter 13: Determining the Optimal Level of Product Availability
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Sample Questions
Q1) As lead times decrease, supply chain managers are able to
A) better match supply with demand.
B) better match demand with supply.
C) increase supply chain cost.
D) decrease product availability.
Q2) An increase in forecast accuracy increases both the overstocked and understocked quantity and decreases a firm's profits.
A)True
B)False
Q3) A supply chain can use a high level of product availability to improve its responsiveness and attract customers.
A)True
B)False
Q4) The level of product availability
A) is also referred to as the customer service level.
B) is an important component of any supply chain's responsiveness.
C) increases revenues for the supply chain by increasing sales.
D) Only A and B are true.
Q6) Discuss the advantages and disadvantages of quick response. Page 15
Q5) Explain how tailored sourcing can be used to improve profitability.
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Page 16
Chapter 14: Transportation in a Supply Chain
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Milk runs reduce outbound transportation costs by consolidating large shipments.
A)True
B)False
Q2) The cost of various facilities in the shipper's supply chain network is
A) transportation cost.
B) inventory cost.
C) facility cost.
D) processing cost.
Q3) A carrier's decisions are affected by the prices that the market will bear, but not the responsiveness it seeks to provide its target segment.
A)True
B)False
Q4) Discuss the importance of designing flexibility into the transportation network.
Q5) The mode of transportation that results in the lowest transportation cost will lower total costs for a supply chain.
A)True
B)False
Q6) What trade-offs do managers need to consider when making transportation decisions?
Page 17
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Chapter 15: Sourcing Decisions in a Supply Chain
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77 Verified Questions
77 Flashcards
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Sample Questions
Q1) What issues need to be considered when evaluating capability for design collaboration?
Q2) If George and a single Jerk Store act as a vertically integrated supply chain, what is the optimal quantity for the Jerk Store to order?
A) 2633
B) 2840
C) 3069
D) 3267
Q3) Single sourcing for a product is used to
A) guarantee the supplier sufficient business when the supplier has to make a significant buyer-specific investment.
B) ensure a degree of competition.
C) ensure the possibility of a backup should a source fail to deliver.
D) control all possible sources of supply in the market.
Q4) Why should replenishment lead time be considered in supplier selection decisions?
Q5) What are some of the benefits of effective sourcing decisions?
Q6) What factors should be considered when making sourcing decisions?
Q7) Why should on-time performance be considered in supplier selection decisions?
Page 18
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Chapter 16: Pricing and Revenue Management in a Supply Chain
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87 Verified Questions
87 Flashcards
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Sample Questions
Q1) The use of differential pricing should
A) decrease total profits for a firm.
B) increase total profits for a firm.
C) increase capacity for a firm.
D) decrease capacity utilization for a firm.
Q2) Unused capacity from the past is extremely valuable.
A)True
B)False
Q3) Explain why forecasting is important to revenue management.
Q4) Wastage occurs if higher price buyers have to be turned away because the capacity has already been committed to lower price buyers.
A)True
B)False
Q5) The forecasting function is
A) the foundation of any revenue management system.
B) unnecessary for a revenue management system.
C) an added plus for any revenue management system.
D) likely to create problems for any revenue management system.
Q7) Describe the role of revenue management. Page 19
Q6) How do firms address the problems of spoilage and spill?
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Page 20
Chapter 17: Sustainability and the Supply Chain
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75 Verified Questions
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Sample Questions
Q1) ________ tend to be significant consumers of energy and water and emitters of waste and greenhouse gases and thus offer significant opportunities for profitable improvement.
A) Employees
B) Production processes
C) Facilities
D) Vehicles
Q2) These two companies have also set aggressive targets for their suppliers to improve overall supply chain sustainability.
A) Walmart and IKEA
B) IBM and 3M
C) Mattel and Hasbro
D) Apple and Starbucks
Q3) Almost 40 percent of ________ could be achieved at negative marginal costs, meaning that investing in these options would generate positive economic returns over their life cycle.
A) greenhouse gas abatement
B) fuel consumption initiatives
C) increased customer base
D) improved company reputation
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