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 79
1. A team has been given a project which requires them to design a new product with the following key performance indicators (KPIs) and prototype results:What should be the next step of the project?
A) Close prototype phase and move to production phase
B) Stay in prototype phase and issue formal corrective action to address prototype yield only
C) Stay in prototype phase and issue formal corrective action to address all key performance indicators
D) Close prototype phase and move to production phase with verbal understanding that yield needs to increase
2. A firm wants to start doing business with a supplier on another continent. Which of the following methods to minimize financial risk would best protect the supplier and customer?
A) Bank draft
B) Letter of credit (L/C)
C) Cash-on-delivery terms
D) Currency hedging
3. Reverse logistics processes are often more expensive than standard inbound processes because shipments consist of items that:
A) are small and from unhappy customers wanting quick refunds
B) often do not have uniform packing or labeling
C) involve negotiations with suppliers on the value and timing of items returned for credit
D) are so damaged they are difficult to identify for correct storage
4. When choosing a supplier in a market-responsive supply chain, a company most appropriately would make the selection on the basis of quality and:
A) product cost
B) product development capabilities
C) cost of delivery
D) speed
5. A railway company investing in a signaling system to help identify and restore service quickly is an example of:
A) risk resilience
B) risk tolerance
C) risk appetite
D) risk mitigation
A) Close prototype phase and move to production phase
B) Stay in prototype phase and issue formal corrective action to address prototype yield only
C) Stay in prototype phase and issue formal corrective action to address all key performance indicators
D) Close prototype phase and move to production phase with verbal understanding that yield needs to increase
2. A firm wants to start doing business with a supplier on another continent. Which of the following methods to minimize financial risk would best protect the supplier and customer?
A) Bank draft
B) Letter of credit (L/C)
C) Cash-on-delivery terms
D) Currency hedging
3. Reverse logistics processes are often more expensive than standard inbound processes because shipments consist of items that:
A) are small and from unhappy customers wanting quick refunds
B) often do not have uniform packing or labeling
C) involve negotiations with suppliers on the value and timing of items returned for credit
D) are so damaged they are difficult to identify for correct storage
4. When choosing a supplier in a market-responsive supply chain, a company most appropriately would make the selection on the basis of quality and:
A) product cost
B) product development capabilities
C) cost of delivery
D) speed
5. A railway company investing in a signaling system to help identify and restore service quickly is an example of:
A) risk resilience
B) risk tolerance
C) risk appetite
D) risk mitigation
1. Right Answer: A
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: A
Explanation: Reference:https://cerasis.com/what-is-reverse-logistics/
4. Right Answer: D
Explanation: Reference:https://precoro.com/blog/four-basic-stages-of-supplier-selection/
5. Right Answer: D
Explanation:
Explanation:
2. Right Answer: B
Explanation:
3. Right Answer: A
Explanation: Reference:https://cerasis.com/what-is-reverse-logistics/
4. Right Answer: D
Explanation: Reference:https://precoro.com/blog/four-basic-stages-of-supplier-selection/
5. Right Answer: D
Explanation:
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