Chapter 2 - Testbank - Supply Chain Management, 6e, Global Edition (Chopra/Meindl) Chapter 2 Supply - Studeersnel (2024)

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Supply Chain Management, 6e, Global Edition (Chopra/Meindl)Chapter 2 Supply Chain Performance: Achieving Strategic Fit and Scope

2 True/False Questions

1. A company's competitive strategy defines the set of customer needs that it seeks to satisfythrough its products and services.Answer: TRUEDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

2. The value chain emphasizes the close relationship between all the functional strategies withina company.Answer: TRUEDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

3. A company's product development strategy defines the set of customer needs that it seeks tosatisfy through its products and services.Answer: FALSEDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

4. A company's product development strategy specifies the portfolio of new products that it willtry to develop.Answer: TRUEDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

   See Also

   Overcoming global supply chain challengesAmazon’s New Approach to Supply Chain Management | SageSellerA Comprehensive Guide to Push and Pull Strategy in Supply Chain Management [UPDATED]Amazon Supply Chain: Understanding how Amazon’s supply chain works

5. Supply chain strategy specifies what the operations, distribution, and service functions,whether performed in-house or outsourced, should do particularly well.Answer: TRUEDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

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6. A company's supply chain strategy determines the nature of procurement and transportation ofmaterials as well as the manufacture and distribution of the product.Answer: TRUEDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

7. The degree of supply chain responsiveness should be consistent with the implied uncertainty.Answer: TRUEDiff: 1Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

8. To achieve complete strategic fit, a firm must ensure that all functions in the value chain havediverse strategies that support functional goals.Answer: FALSEDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

9. Because demand and supply characteristics change, the supply chain strategy must changeover the product life cycle if a company is to continue achieving strategic fit.Answer: TRUEDiff: 1Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

10. To retain strategic fit, supply chain strategy must be adjusted over the life cycle of a productand as the competitive landscape changes.Answer: TRUEDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

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16. Intercompany scope is broader than intrafunctional scope.Answer: TRUEDiff: 2Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

17. Monolithic Lumber has purchased timber from Bunyan Axe, the same wholly-ownedsubsidiary, for the last two centuries and plans to do so for another two centuries. It is crucial thatMonolithic continue to demonstrate an agile company scope.Answer: FALSEDiff: 1Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

18. Greater product variety and shorter life cycles result in shorter windows of opportunity for asupply chain to achieve fit.Answer: TRUEDiff: 1Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

19. Globalization has increased the opportunities and decreased the risks for supply chains.Answer: FALSEDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

20. Over the past several decades, the supply chains of most firms have become easier tocoordinate.Answer: FALSEDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

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2 Multiple Choice Questions

1. A company's competitive strategyA) defines the set of customer needs that it seeks to satisfy through its products and services.B) specifies the portfolio of new products that it will try to develop.C) specifies how the market will be segmented and how the product will be positioned, priced,and promoted.D) determines the nature of procurement and transportation of materials as well as manufactureand distribution of the product.Answer: ADiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

2. The value that potential customers place on product cost and delivery time determines acompany'sA) customer needs.B) competitive strategy.C) supply chain surplus.D) product life cycle.Answer: BDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

3. The value chain in a company begins withA) the customer.B) marketing and sales.C) new product development.D) operations.Answer: CDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

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8. A company's marketing and sales strategyA) defines the set of customer needs that it seeks to satisfy through its products and services.B) specifies the portfolio of new products that it will try to develop.C) specifies how the market will be segmented and how the product will be positioned, priced,and promoted.D) determines the nature of procurement and transportation of materials as well as manufactureand distribution of the product.Answer: CDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

9. A company's supply chain strategyA) defines the set of customer needs that it seeks to satisfy through its products and services.B) specifies the portfolio of new products that it will try to develop.C) specifies how the market will be segmented and how the product will be positioned, priced,and promoted.D) determines the nature of procurement and transportation of materials as well as manufactureand distribution of the product.Answer: DDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

10. The value chain consists of direct and indirect activities. Which of the following is anindirect activity for an enterprise?A) MarketingB) DistributionC) Human ResourcesD) ServiceAnswer: CDiff: 3Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

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11. A ________ strategy specifies the portfolio of new products that a company will try todevelop.A) Product DevelopmentB) Marketing and SalesC) Supply ChainD) FinanceAnswer: ADiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

12. A ________ strategy specifies how the market will be segmented and how the product willbe positioned, priced, and promoted.A) Product DevelopmentB) Marketing and SalesC) Supply ChainD) FinanceAnswer: BDiff: 2Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

13. Which of the following determines the nature of procurement of raw materials, transportationof materials to and from the company, manufacture of the product or operation to provide theservice, and distribution of the product to the customer along with follow-up service?A) Competitive strategyB) Product development strategyC) Marketing and sales strategyD) Supply chain strategyAnswer: DDiff: 1Topic: 2 Competitive and Supply Chain StrategiesAACSB: Application of knowledgeObjective: LO 2: Explain why achieving strategic fit is critical to a company's overall success.

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18. The uncertainty that exists due to the portion of demand that the supply chain is required tomeet is theA) rate of strategic uncertainty.B) demand uncertainty.C) implied demand uncertainty.D) average forecast error.Answer: CDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

19. Which of the following customer needs will cause implied uncertainty of demand toincrease?A) Product marginB) Lead time decreasesC) Average stockout rateD) Average forced season end markdownAnswer: BDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

20. The first step in achieving strategic fit between competitive and supply chain strategies is toA) understand the supply chain and map it on the responsiveness spectrum.B) understand customers and supply chain uncertainty.C) match supply chain responsiveness with the implied uncertainty of demand.D) ensure that all functional strategies within the supply chain support the supply chain's level ofresponsiveness.Answer: BDiff: 3Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

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21. The second step in achieving strategic fit between competitive and supply chain strategies istoA) understand the supply chain and map it on the responsiveness spectrum.B) understand customers and supply chain uncertainty.C) match supply chain responsiveness with the implied uncertainty of demand.D) ensure that all functional strategies within the supply chain support the supply chain's level ofresponsiveness.Answer: ADiff: 3Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

22. The final step in achieving strategic fit between competitive and supply chain strategies is toA) understand the supply chain and map it on the responsiveness spectrum.B) understand customers and supply chain uncertainty.C) match supply chain responsiveness with the implied uncertainty of demand.D) combine customer and supply chain uncertainty and map it on the implied uncertaintyspectrum.Answer: CDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

23. Supply chain responsiveness includes the ability to do which of the following?A) Handle supply uncertaintyB) Understand customers and supply chain uncertaintyC) Match supply chain responsiveness with the implied uncertainty of demandD) Ensure that all functional strategies within the supply chain support the supply chain's level ofresponsivenessAnswer: ADiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

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27. The curve that shows the lowest possible cost for a given level of responsiveness is referredto as theA) supply chain responsiveness curve.B) supply chain efficiency curve.C) cost-responsiveness efficient frontier.D) responsiveness spectrum.Answer: CDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

28. A firm that is not on the cost-responsiveness efficient frontier can improveA) both responsiveness and cost performance.B) only responsiveness.C) only cost performance.D) responsiveness, but not cost performance.Answer: ADiff: 1Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

29. A graph with two axes with implied uncertainty along the horizontal axis and responsivenessalong the vertical axis is referred to as theA) implied uncertainty spectrum.B) responsiveness spectrum.C) uncertainty/responsiveness map.D) zone of strategic fit.Answer: CDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

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30. The relationship where increasing implied uncertainty from customers and supply sources isbest served by increasing responsiveness from the supply chain is known as theA) implied uncertainty spectrum.B) responsiveness spectrum.C) uncertainty/responsiveness map.D) zone of strategic fit.Answer: DDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

31. The drive for strategic fit should come fromA) the supply chain manager.B) the strategic planning department.C) the highest levels of the organization, such as the CEO.D) middle management.Answer: CDiff: 3Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

32. The preferable supply chain strategy for a firm that sells multiple products and servescustomer segments with very different needs is toA) set up independent supply chains for each different product or customer segment.B) set up a supply chain that meets the needs of the highest volume product or customersegment.C) tailor the supply chain to best meet the needs of each product's demand.D) set up a supply chain that meets the needs of the customer segment with the highest implieduncertainty.Answer: CDiff: 3Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

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36. Efficient supply chainsA) respond quickly to demand.B) have higher margins because price is not a prime customer driver.C) maintain buffer inventory to deal with demand/supply uncertainty.D) maximize performance at a minimum cost.Answer: DDiff: 2Topic: 2 Achieving Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe how a company achieves strategic fit between its supply chainstrategy and its competitive strategy.

37. The functions and stages that devise an integrated strategy with a shared objective arereferred to asA) competitive strategy.B) supply chain strategy.C) scope of strategic fit.D) scope of marketing strategy.Answer: CDiff: 2Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

38. With the ________ view, firms attempt to align all operations within a function. In this view,all supply chain functions including sourcing, manufacturing, warehousing, and transportationmust align their strategy to minimize total functional cost.A) Intrafunctional scopeB) Intraoperation scopeC) Interfunctional scopeD) Intercompany scopeAnswer: BDiff: 3Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

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39. The key weakness of the ________ view is that different functions within a firm may haveconflicting objectives.A) Intrafunctional scopeB) Intraoperation scopeC) Interfunctional scopeD) Intercompany scopeAnswer: ADiff: 3Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

40. Which of these has the broader range?A) Intrafunctional scopeB) Intercompany scopeC) Interfunctional scopeD) Intraoperational scopeAnswer: BDiff: 2Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

41. Scope of strategic fit refers to both theA) function within the firm and the satisfaction of the customer.B) satisfaction of the customer and the profits returned to the shareholders.C) function within the firm and stages across the supply chain.D) profits returned to the shareholders and the stages across the supply chain.Answer: CDiff: 3Topic: 2 Expanding Strategic ScopeAACSB: Application of knowledgeObjective: LO 2: Discuss the importance of expanding the scope of strategic fit across thesupply chain.

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45. Increased product variety and shrinking product life cycles usually result inA) the deliberate phase-out of older products.B) a decrease in overall uncertainty for the supply chain.C) an increase in the time allowed for a supply chain to develop specific competencies.D) a deliberate proliferation in the variety of components used for all products produced.Answer: ADiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

46. Risks and opportunities have increased for supply chains due toA) the decreasing value of the U. dollar.B) increasing globalization.C) the increasing population.D) a decline in energy prices.Answer: BDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

47. Over the past several decadesA) the life cycle of products has increased.B) most firms have become more vertically integrated.C) the number of owners per supply chain has increased.D) product variety has decreased.Answer: CDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

48. One motivation for companies to shed noncore functions to their supply chains has been toA) increase supply chain membership and participation.B) increase supply chain complexity to ease supply chain alignment.C) maximize focus on local objectives.D) take advantage of supplier and customer competencies that they did not possess.Answer: DDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

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49. Which of these examples ripped from the headlines of business periodicals is most accurate?A) Netflix has two content delivery systems that are inexpensive to operate.B) Blockbuster's reliance on streaming services was overwhelmed by a lack of bandwidth at thedawn of the 21st century.C) Once an increase in demanded customization seized the market, Dell was unable to rely on itsretail store strategy.D) Redbox's reliance on streaming services ended Dell's run as a leader in the industry.Answer: ADiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

50. Concerns related to the environment and sustainabilityA) are becoming less important to the consuming public.B) are sometimes dictated by regulations and sometimes by perception.C) result in increased cost for the supply chain.D) are relevant to only the retail member of each supply chain.Answer: BDiff: 2Topic: 2 Challenges to Achieving and Maintaining Strategic FitAACSB: Application of knowledgeObjective: LO 2: Describe the major challenges that must be overcome to manage a supplychain successfully.

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