CA Foundation Business Economics Questions 2023 - Part 32
Fri, 03 Mar 2023
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APICS Certified Supply Chain Professional CSCPPractice Questions 2023 - Part 44
1. A company distributes its products through wholesale, retail stores, and its e-commerce website. Inventory and demand forecasting for each channel is managed separately. The company is experiencing high levels of obsolete inventory. Which of the following strategies is most likely to reduce the levels of obsolescence?
A) Place smaller orders with suppliers.
B) Pool inventory and the forecast.
C) Open more outlet stores.
D) Negotiate lower costs with suppliers.
2. For an item with high profit impact and low supply risk, what would be a likely procurement strategy to support the overall supply strategy?
A) Ensure supply, even at a premium cost.
B) Vertically integrate the supply chain.
C) Exploit purchasing power and minimize cost.
D) Form a strategic sourcing group.
3. Which of the following factors typically is most important to a company that uses the chase production strategy when evaluating potential suppliers for a component?
A) Supplier×?â?¬â?¢s agility
B) Supplier×?â?¬â?¢s certification status
C) Quoted delivery time
D) Quoted total price
4. Using financial tools to minimize the impact of currency fluctuations is an example of what type of risk management strategy?
A) Mitigation
B) Recovery
C) Prevention
D) Diversification
5. Production of a company's highest profit items is dependent upon the purchase of high-quality circuit boards. Which level of collaboration should the company develop with their supplier?
A) Pull replenishment
B) Strategic partnership
C) Revenue sharing
D) Vendor-managed inventory (VMI)
A) Place smaller orders with suppliers.
B) Pool inventory and the forecast.
C) Open more outlet stores.
D) Negotiate lower costs with suppliers.
2. For an item with high profit impact and low supply risk, what would be a likely procurement strategy to support the overall supply strategy?
A) Ensure supply, even at a premium cost.
B) Vertically integrate the supply chain.
C) Exploit purchasing power and minimize cost.
D) Form a strategic sourcing group.
3. Which of the following factors typically is most important to a company that uses the chase production strategy when evaluating potential suppliers for a component?
A) Supplier×?â?¬â?¢s agility
B) Supplier×?â?¬â?¢s certification status
C) Quoted delivery time
D) Quoted total price
4. Using financial tools to minimize the impact of currency fluctuations is an example of what type of risk management strategy?
A) Mitigation
B) Recovery
C) Prevention
D) Diversification
5. Production of a company's highest profit items is dependent upon the purchase of high-quality circuit boards. Which level of collaboration should the company develop with their supplier?
A) Pull replenishment
B) Strategic partnership
C) Revenue sharing
D) Vendor-managed inventory (VMI)
1. Right Answer: B
Explanation:
2. Right Answer: C
Explanation: Reference:https://www.mindtools.com/pages/article/newSTR_49.htm
3. Right Answer: A
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: D
Explanation: In the vendor-managed inventory (VMI) model, the vendor, through mutual agreement, has access to the customer's POS inventory data for items they supply.The vendor is responsible for maintaining the inventory level required by the customer and performs actual resupply. The inventory is counted, damaged or outdated goods are removed, and the inventory is restocked to predefined levels. The vendor obtains a receipt for the restocked inventory and accordingly invoices the customer.
Explanation:
2. Right Answer: C
Explanation: Reference:https://www.mindtools.com/pages/article/newSTR_49.htm
3. Right Answer: A
Explanation:
4. Right Answer: A
Explanation:
5. Right Answer: D
Explanation: In the vendor-managed inventory (VMI) model, the vendor, through mutual agreement, has access to the customer's POS inventory data for items they supply.The vendor is responsible for maintaining the inventory level required by the customer and performs actual resupply. The inventory is counted, damaged or outdated goods are removed, and the inventory is restocked to predefined levels. The vendor obtains a receipt for the restocked inventory and accordingly invoices the customer.
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