MIB Global Supply Chain Management 2

Question 1

What is a 'third-party logistics provider' (3PL)?

Accepted Answer

An external firm that manages logistics operations on behalf of a company

Answer

A 3PL provider offers outsourced logistics services including warehousing, transportation, and distribution management on behalf of client companies.

Question 2

Which Incoterm places the maximum responsibility on the seller, who delivers goods to the buyer's named destination?

Accepted Answer

DDP (Delivered Duty Paid)

Answer

DDP (Delivered Duty Paid) requires the seller to bear all costs and risks including import duties and taxes until goods are delivered to the buyer's specified destination.

Question 3

What does 'total landed cost' include in international supply chain analysis?

Accepted Answer

Purchase price plus all costs to deliver goods to their final destination

Answer

Total landed cost encompasses the complete cost of a product including purchase price, transportation, tariffs, insurance, handling, and other fees to reach the final destination.

Question 4

The concept of 'reshoring' in global supply chains involves:

Accepted Answer

Returning previously offshored production back to the home country

Answer

Reshoring is the practice of bringing manufacturing or service operations back to the company's home country after previously moving them offshore.

Question 5

Which supply chain strategy prioritizes speed and responsiveness over cost efficiency, suited for unpredictable demand?

Accepted Answer

Agile supply chain

Answer

An agile supply chain is designed to respond quickly to market changes and unpredictable demand by prioritizing flexibility and speed over pure cost efficiency.

MIB - Master of International Business Practice Test

MIB - Master of International Business Practice Test

MIB Global Supply Chain Management 2