MIB Global Supply Chain Management 3

Question 1

What is the primary purpose of a 'Harmonized System (HS) code' in international trade?

Accepted Answer

Classifying traded goods for customs and tariff purposes

Answer

Setting international product quality standards

Answer

Tracking supplier performance metrics

Answer

Calculating carbon footprints of shipments

Question 2

Which document serves as a contract of carriage and receipt of goods between a shipper and carrier in international shipping?

Accepted Answer

Bill of lading

Answer

Commercial invoice

Answer

Certificate of origin

Answer

Letter of credit

Question 3

Supplier development programs in global supply chains primarily aim to:

Accepted Answer

Improve supplier capabilities and performance over time

Answer

Reduce the number of active suppliers

Answer

Replace domestic suppliers with foreign ones

Answer

Negotiate lower prices through volume commitments

Question 4

What is 'cross-docking' in global logistics operations?

Accepted Answer

Transferring goods directly from inbound to outbound transportation with minimal storage

Answer

Combining shipments from different suppliers into one container

Answer

Shipping goods through multiple distribution centers

Answer

Exchanging goods between trading partners

Question 5

The 'triple bottom line' in sustainable supply chain management refers to:

Accepted Answer

Economic, social, and environmental performance

Answer

Profit, revenue, and market share

Answer

Cost, quality, and delivery metrics

Answer

Local, regional, and global sourcing

Question 6

Which supply chain disruption risk is classified as a 'geopolitical risk'?

Accepted Answer

Trade embargo imposed by a foreign government

Answer

Factory fire at a key supplier

Answer

Demand forecast error

Answer

IT system failure