MEM Supply Chain Management

Question 1

Which supply chain strategy is best suited for products with highly unpredictable demand and short life cycles?

Accepted Answer

Agile supply chain

Answer

Lean supply chain

Answer

Efficient supply chain

Answer

Continuous replenishment

Question 2

The bullwhip effect in supply chains refers to:

Accepted Answer

Amplification of demand variability as orders move upstream

Answer

Increased inventory accuracy upstream

Answer

Reduction in lead times due to coordination

Answer

Synchronized production schedules across tiers

Question 3

Which inventory management model uses a fixed reorder quantity triggered when stock falls to a predetermined level?

Accepted Answer

Continuous review (Q) model

Answer

Periodic review model

Answer

Economic order quantity (EOQ) model

Answer

Just-in-time model

Question 4

Total Cost of Ownership (TCO) in procurement includes which of the following beyond purchase price?

Accepted Answer

Acquisition, ownership, and post-ownership costs

Answer

Only transportation costs

Answer

Only warranty costs

Answer

Only the supplier's profit margin

Question 5

A Tier-1 supplier in a supply chain is best described as:

Accepted Answer

A supplier that directly supplies the focal firm

Answer

A raw material extractor

Answer

A supplier that sells directly to the end consumer

Answer

A logistics provider

Question 6

Which performance metric measures the percentage of customer orders fulfilled completely and on time?

Accepted Answer

Perfect order rate

Answer

Fill rate

Answer

Inventory turnover

Answer

Cash-to-cash cycle time

Question 7

Vendor Managed Inventory (VMI) transfers inventory replenishment responsibility to:

Accepted Answer

The supplier

Answer

The end customer

Answer

The retailer

Answer

A third-party logistics provider