CIM Global Supply Chain Coordination 2

Question 1

Which document serves as the primary contract between a shipper and an ocean carrier for international freight?

Accepted Answer

Bill of lading

Answer

The bill of lading is both a receipt for goods and a contract of carriage between the shipper and the ocean carrier.

Question 2

What is the main purpose of a Customs Broker in global supply chain operations?

Accepted Answer

To prepare and file import/export documentation on behalf of importers and exporters

Answer

Customs brokers are licensed professionals who prepare and file documentation required for customs clearance on behalf of their clients.

Question 3

In global supply chain management, what does 'nearshoring' refer to?

Accepted Answer

Relocating manufacturing to a nearby country rather than a distant one

Answer

Nearshoring involves relocating business operations to a neighboring or nearby country to reduce logistics complexity and lead times.

Question 4

Which risk management strategy involves holding safety stock at multiple international distribution centers?

Accepted Answer

Risk pooling

Answer

Risk pooling distributes inventory across multiple locations to reduce the impact of demand variability and supply disruptions.

Question 5

What is 'landed cost' in the context of global sourcing decisions?

Accepted Answer

The total cost including purchase price, freight, insurance, duties, and customs fees

Answer

Landed cost encompasses all costs incurred to bring goods to the destination, including purchase price, freight, insurance, tariffs, and customs clearance fees.

(CIM) Certified Inventory Manager Practice Test

(CIM) Certified Inventory Manager Practice Test

CIM Global Supply Chain Coordination 2