UOP ISCOM383 final exam latest 2015

QUESTION

1. Good management of the supply chain is a critical concept of cost reduction a. Trueb. False2. A value chain can best be described as a high level model of how businesses receive raw materials as input, add value to the raw materials through the processes and sell finished products to Customers.a. Trueb. False3. A supply chain is a network that includes planning design, producing and delivering products and services.a. Trueb. False4. The following are components of the Global Value Chain EXCEPT:a. Sourcing and procurementb. International Logisticsc. Factory Operationsd. Information Technologye. Providing Financing Plans to the Customer5. With Vendor Managed Inventory (VMI), it is the responsibility of the Vendor to supply inventory replenishment to the Retailer.a. Trueb. False6. The Three Dimensions of Global Operations and Logistics are the followingEXCEPTa. Functionalb. Sectorialc. Culturald. Geographic7. The traditional view of operating exposure for an exporting firm states that home currency appreciation leads to decreased revenues and a negative exposure. The following are recognized as complicating factors a business would need to consider in assessing its operating exposure to real exchange rate shocks EXCEPT. (Hint- Refer to Page 311 of the Text)a. Customer reactionsb. Competitor reactionsc. Shareholder reactionsd. Supplier reactionse. Government reactions8. A transaction exposure is contractual and a translation exposure refers to accounting. (Hint- Refer to Page 313 of the text)a. Trueb. False9. The text suggests that the greatest risk in global sourcing contracts is that of the:a. Currency Exchange Rateb. Political and Cultural Issuesc. Religious Differencesd. Global Climate Changese. Bribes10. Recent research suggests that companies should consider selecting suppliers on the basis of their contribution to balancing currency flows, rather that price and performance.a. Trueb. False11. The three types of Foreign Exchange Markets are listed below. Which one is NOT considered one?a. Spotb. Forwardc. Reversed. Futures12. Forward Contracts are much more structured than Futures Contractsa. Trueb. False13. Futures contract trading is inexpensive and easy.a. Trueb. False14. A hedging example buying insurance for your vehicle.a. Trueb. False15. A product’s manufacturing costs are considered “inbound logistics” and order fulfillment would be termed “outbound logistics”.a. Trueb. False16. The abbreviations CIF, FOB, FAS and CFR refer to Inventory Management modelsa. Trueb. False17. ERP is an example of a Logistics Modela. Trueb. False18. Just in Time (JIT) is an example of an Inventory Model successfully implemented by large and small businesses.a. Trueb. False19. Forecasting Techniques include all of the following EXCEPTa. Trend Extrapolationb. Simulation Methodsc. Multiple Regressiond. Most squarese. Winter’s Model20. Although well respected companies have a firm “no-bribe” policy, there may be certain opportunities where the term “fee” could be justified. Examples follow.Select the most correct answer.a. Fee paid to local Tribal Leaders is acceptableb. Fee paid to Non Government agencies representing a Client is acceptablec. Fee paid to a Third Party not associated with the potential work is acceptabled. Nevere. Direct reporting Supervisor must pre-approve the fee21. Enterprise Resource Planning (ERP) can:a. Eliminate wasteful duplicationb. Streamline operationsc. Be Costly to Implementd. a. and b. onlye. a., b., and c.22. Incoterms describes transportation responsibilities between buyer and seller.One example is:a. Ex-Worksb. Kanbanc. Kaisend. JITe. Two Bin23. Key drivers of Competitive Advantage for a company would be organized as all of the following EXCEPT:a. Innovationb. Qualityc. Serviced. Speede. Cost Competitivnessf. Sole Sourcing24. Enterprise Resource Planning (ERP) is defined as:a. The integration of a company’s departments and functions through a single hardware/software applicationb. Human Resource Strategic Planc. A high level management business strategy pland. Logistics Integration25. Reverse Auctions typically best serve the small business owner.a. Trueb. False 26. Related to IP (Intellectual Property), Infringement, is defined as unauthorized use of IP rights of patents, copyrights and trademarks.Misappropriation is the unauthorized use of trade secrets.a. Trueb. False Question 26 is considered a bonus question.

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