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Exam 1: Supply Chain Management and Competitive Strategy

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Question 1

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Strategy's role is to guide managerial decision making to develop a winning business model.

A) True
B) False

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Question 2

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Typical members of an internal value chain of a business include all of the following except:

A) Finance
B) Logistics
C) Supply Chain Management
D) 2^nd tier supplier

E) A) and C)
F) B) and C)

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Question 3

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The strategic development decision area, "Feedback", helps managers adapt the organization's strategy to meet the demands of a changing requirements world.

Fill in the Blank(s) -________management as a functional member of an internal value chain, coordinates the upstream supply base, finding the right suppliers and building partnerships with them.

Several of the major questions an executive addresses when developing supply chain strategy are: (1) What is the overall supply chain's value proposition? (2) How does the company uniquely help the chain deliver on its value proposition? (3) What valued capabilities do other members of the chain possess?

Fill in the Blank(s) -There are typically two types of businesses discussed that supply chains support, manufacturing and ________companies.

"Supply" chain and "Value" chain are unrelated and independent of each other

The most important role of a business's strategy is to define a company's business model.

Describe the similarities and the differences of the "internal value chain" and the "external value chain.

Winning supply chain strategies should help a company do more than just beat the competition; they should help the company meet the real needs of their customers.

Managers must consider each of the following areas in developing effective supply chain strategies to satisfy its customers except ________.

Three basic theories guide modern strategy formulation and execution: contingency theory, industrial collaboration theory and resource-based theory.

Resources, in the context of a business, refer only to the tangible assets of a company.

The term internal "value chain" describes the interconnected nature of a business's internal functions such as R&D, Operations, and Marketing that add value to a process.

A supply chain phenomenon "The Bullwhip Effect" occurs as the result of a well planned, well communicated coordinated management effort throughout the supply chain membership.

A major SC management cause of why inventories of a business could become excessive is all of the following except ________.

A supply chain is made up of a series of linked company-level value chains that provide only products (never services) to their customers.

A "first-tier supplier" refers to a supplier in the chain that provides products or services immediately preceding the focal business.

Industrial organization theory suggests that supplier and technology forces should drive corporate strategic decision-making.

A major weakness of historical supply chain strategies is________.