BUAD 331 TEST QUESTIONS WITH REVISED AND UPDATED ANSWERS
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Course
BUAD 331
Institution
BUAD 331
BUAD 331 TEST QUESTIONS WITH REVISED AND UPDATED ANSWERS
Lanyard Company has a single supplier that provides a critical raw material. This situation could represent: - Answer-All of the above
Auto Company's shipment of parts were stopped due to a railroad accident. The parts were lifted from t...
BUAD 331 TEST QUESTIONS WITH
REVISED AND UPDATED
ANSWERS
Lanyard Company has a single supplier that provides a critical raw material. This
situation could represent: - Answer-All of the above
Auto Company's shipment of parts were stopped due to a railroad accident. The parts
were lifted from the rail car by helicopter and flow to the assemble plant. Which
capability that this best exhibit? - Answer-Contingency capabilities
Volunator Company has recently been trimming their supply base so they could work
more closely and collaboratively with their suppliers. What risk driver have they made
more prominent in their new design? - Answer-Node criticality
What is true about events and disruptions? - Answer-All disruptions stem from events
RFID is a technology that was discussed as an enabler of which capability? - Answer-
Risk assessment
Warning capabilities
Mitigation capabilities
Contingency capabilities
What were ways discussed for a company to build a more resilient supply chain? -
Answer-All of the above
In 2000, management predominately viewed the value of the supply chain emerging
from operational efficiency and _________. - Answer-cost reduction
Bill Simon, former CEO of Walmart North America, said that what organizations really
need today are supply chain managers who can __________ in response to changing
conditions. - Answer-innovate
By 2025, best-in-class measurement systems will assess success based on the
profitability of key customer segments and ____________ service levels to the price
sensitivity of each segment. - Answer-tailoring
By 2025, experts expect companies to use ______________ and ____________ to
enable companies to use advance knowledge to actually "shape" demand based on
consumer trends. - Answer-artificial intelligence and unstructured data
, By 2025, process integration should extend to ___________ organizations involved in
the overall value creation process. - Answer-external
_________________, defined by machines that are connected to each other so that
they can exchange data in real time, is driving information visibility. - Answer-Internet of
Things
Which of the following traits are recruiters seeking when hiring supply chain
professionals today? - Answer-all of the above
By 2025, more companies will stick to their ___________, and many activities will be
outsourced to the broader supply chain to leverage the expertise of external
organizations. - Answer-core competencies
What is the idea in which both sides to an agreement commit the resources required to
achieve key outcome metrics that are mutually beneficial? - Answer-Vested
relationships
By 2025, it will become common for firms to utilize decision processes that enable them
to _________ account for constantly changing competitive characteristics. - Answer-
Proactively
By 2025, Dr. Stank and the team predict that more companies will stick to their
___________ and many activities will be outsourced to the broader supply chain to
leverage the expertise of external organizations. - Answer-Core competencies
One of the most dramatic developments that promises to challenge the creativity of
supply chain managers is related to advances in the degree and timeliness of
___________ that can be shared across the supply chain. - Answer-Information
What innovation is driving information visibility and is defined by soft data available via
social media that systems are increasingly able to cull to find patterns? - Answer-
Unstructured data
What innovation is driving information visibility and is defined by the use of computing
driven by artificial intelligence to leverage massive amounts of both structured and
unstructured data to assist decision makers? - Answer-Cognition
Leading firms now recognize that they must cultivate relationships with suppliers and
ensure profitable operations for all enterprises in the supply chain in order to gain the
access to key resources required to optimize _______________. - Answer-Total
relevant value
2025, firms will increasingly partner with key customers to co-create ___________ form,
time, and place elements, utilizing advancements in information exchange to customize
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