QUESTION 1

What is the main difference between supply chain management (SCM) and
logistics?

 Logistics focuses on two main constituents: transportation and warehousing

 SCM's main focus is the delivery of a final product while logistics focuses more
on the bigger picture
 Logistics covers a number of processes in the supply chain while SCM just
focuses on moving products
 None of the above

YOUR ANSWER - Logisticscovers a number of processes in the supply chain while SCM

just focuses on moving products
CORRECT ANSWER - Logistics focuses on two main constituents: transportation and
warehousing 

MORE INFORMATION:

While logistics and SCM are often used interchangeably, they are not the
same. Logistics focuses on the process of moving products out of the
warehouse and to the consumer in a timely and efficient manner, which
includes routes, load shipments and freight audits. SCM, on the other hand,
encompasses all of the processes and resources needed to execute a
product's movement, starting from the warehouse as goods or raw materials,
through production and distribution of the final product to the consumer.

QUESTION 2
How are businesses hoping blockchain will help SCM?

 Increase transparency and visibility

 Secure exchange of data
 Manage smart contracts
 All of the above

YOUR ANSWER - undefined
CORRECT ANSWER - All of the above 

MORE INFORMATION:
 Blockchain is quickly proving to be successful in supply chains, especially
ones that are more complex. It not only plays an important role of securing
data, managing smart contracts and increasing transparency, but it's
also strengthening multiparty transactions in enterprise software platforms
such as ERP.

QUESTION 3
True or false: SCM covers the planning and execution of processes required to
execute a product's flow, from acquiring goods and materials through production
and distribution to the final customer, in the most efficient way possible?

 True
 False

YOUR ANSWER - undefined
CORRECT ANSWER - True 

MORE INFORMATION:

This is SCM in a nutshell, but there is much more that goes into it to ensure
overall customer satisfaction. This includes sourcing, storage,
transportation, demand planning, collaboration efforts and risk management,
just to name a few.

QUESTION 4
Which of the following processes are used by manufacturers to meet compliance
demands?

 Sustainable procurement
 Supply chain visibility (SCV)
 Supply chain planning
 Risk management

YOUR ANSWER - undefined
CORRECT ANSWER - Supply chain visibility (SCV) 

MORE INFORMATION:
 SCV software has become especially valuable to companies and customers
as it allows the ability to track a product from the warehouse to its final
destination, thus providing accurate information in real time to all parties
involved. What some might not know, however, is that it is also used by
manufacturers to meet compliance demands related to trade practices and
track-and-trace requirements.

QUESTION 5
Which of the following is not a component of supply chain planning?

 Consumer forecasting
 Supply collaboration
 Supply chain security
 Demand plan

YOUR ANSWER - undefined
CORRECT ANSWER - Supply chain security 

MORE INFORMATION:

Supply chain planning (SCP) has long been a vital component in SCM. In
addition to consumer forecasting, collaboration and demand planning,
companies can implement SCP software for production scheduling, data
collection and product lifecycle management. In contrast, supply chain
security is used to minimize and manage potential risks for the supply chain
by implementing procedures like completing background checks, screening
cargo and conducting risk assessments.

QUESTION 6
Which of the following processes is most crucial in a case like the 2018
contamination outbreak that was linked to romaine lettuce?

 Supply chain execution (SCE)

 Supply chain traceability
 Supply chain visibility (SCV)
 Supply chain sustainability (SCS)
 YOUR ANSWER - undefined
CORRECT ANSWER - Supply chain traceability 

MORE INFORMATION:

While there are several factors to consider in a case like a contamination

outbreak, traceability is one of the most important. It offers the ability to
retrace every element of a product as it flowed through the supply chain,
starting with the raw materials and ending with the final product. To put it
simply, with a traceability strategy, companies are able to identify what went
wrong in the process and where.

QUESTION 7
True or false: The goal of SCS is to apply socially responsible practices that are
friendly to the environment and encourage positive brand awareness for your
business?

 True
 False

YOUR ANSWER - undefined
CORRECT ANSWER - True 

MORE INFORMATION:

This is true. SCS concentrates on environmental, social and economic issues

of supply chains. Organizations must consider factors such as waste, air
pollution and carbon footprint and emissions. Collaborating with other
sustainable suppliers and purchasing carbon offsets are just a couple of ways
you can improve SCS.

QUESTION 8
Which of the following are important in creating a supply chain management
strategy?

 Ensuring the customer is satisfied

 Using as many resources available as effectively as possible
 Implementing technology and management software that best fits your business
needs
 All of the above

YOUR ANSWER - undefined
CORRECT ANSWER - All of the above 

MORE INFORMATION:

All of these are true. If your business goal is to deliver top customer service,
then your company will want to make sure it has as many cost-effective
resources available as well as the right technology and software.

QUESTION 9
Which of the following is not a benefit of SCM?

 Higher profits
 Lower costs
 Boosting collaboration efforts
 None of the above

YOUR ANSWER - undefined
CORRECT ANSWER - None of the above 

MORE INFORMATION:

There are many benefits of SCM, but the ones listed above may be the most
well-known, or rather the ones companies constantly strive for. They can be
achieved through an effective supply chain strategy, software and digital
technologies that fit your business needs.

QUESTION 10
Which of the following is a risk management tool available to enterprises today?

 Enterprise risk management systems

 Predictive analytics
 Sensors
 All of the above

YOUR ANSWER - undefined
 CORRECT ANSWER - All of the above 

MORE INFORMATION:

Risk management systems, predictive analytics and sensors are just a few of
the risk management tools currently available. These tools can strengthen
your supply chain and decrease your chances of running into a disruption.
Given how complex supply chains are today, you want to ensure you have
proper supply chain risk management strategies and software in place.

QUESTION 11
Which of the following actions helps companies avoid or manage potential
supply chain risks?

 Moving away from sources in earthquake-prone areas

 Dual sourcing
 Sourcing raw materials or goods from a more politically stable region
 All of the above

YOUR ANSWER - undefined
CORRECT ANSWER - All of the above 

MORE INFORMATION:

These are all actions companies can take to reduce risk. Whether it's avoiding
natural disasters and political unrest or applying dual sourcing -- the approach
of using two suppliers for a particular product or service -- they are options
that may prevent your supply chain from a possible worst-case scenario.

QUESTION 12
Which provider is most commonly used by companies to help handle standard
transport and logistics functions in SCM?

 Third-party logistics providers

 Fourth-party logistics providers
 Second-party logistics providers
 Fifth-party logistics providers

YOUR ANSWER - undefined
 CORRECT ANSWER - Third-party logistics providers 

MORE INFORMATION:

Third-party logistics providers (3PL) are common among organizations as

they offer outsourced logistics services including transportation and
warehousing. What's more interesting, however, is that fourth-party logistics
providers are now joining forces with 3PLs to improve supply chains.

QUESTION 13
Lot and serial numbers, quantity of goods and cost of goods are data used in
which kind of management?

 Order management
 Transportation management
 Inventory management
 SCM

YOUR ANSWER - undefined
CORRECT ANSWER - Inventory management 

MORE INFORMATION:

With the use of the data listed above, inventory management software can

keep detailed records of products or raw materials that come in and out of the
warehouse. It's efficient and cost-effective for any organization, both big and
small.