Question 1

A company finds that tracking demand for products sold at its retail outlets makes forecasting a challenge. Which of the following would be MOST useful in providing rapid updates when dealing with suppliers?

Options :

A : Regression analysis of future sales

B : Safety stock review

C : Safety stock review

D : Probability modeling

Answer: C

Question 2

How long after the delivery date must a freight claim on a motor carriage shipment be presented and filed with the carrier in the United States’

Options :

A : 3 months

B : 120 days

C : 30 days

D : 9 months

Answer: D

Question 3

Which of the following describes a market structure where there are few sellers and many buyers and where price is controlled by either an industry leader or a cartel?

Options :

A : Monopsony

B : Perfect competition

C : Monopoly

D : Oligopoly

Answer: D

Question 4

An organization purchases material from several countries. These materials are assembled into products and sold in several other countries. This firm's product specifications will MOST likely reference

Options :

A : International standards

B : Incoterms® 2010 rules

C : North American Free Trade Act

D : exchange rates

Answer: A

Question 5

A manufacturer of gas-powered motors realigns its supply chain to fit a new business segment. In the past, the firm focused on customized designs. Now, it wishes to compete in the electric motor market, which is highly competitive and price-sensitive. Given this situation, which of the following will ensure that the firm has the proper planning in place?

Options :

A :

Negotiating prices with suppliers with a focus on total cost of ownership models, to minimize inventory and logistics costs

B :

Working with engineering to ensure the inclusion of customizable product and service features, in order to meet customer demands

C : Requiring suppliers to verify that sustainability metrics for various programs are closely monitored

D : Working with engineering and suppliers to develop new product designs

Answer: A