SOLVED

21) A(n) ________ brand is characterized by high margins, a short life cycle, and unpredictable demand. A) valid B) operational C) niche D) functional E) innovative 22) What is a characteristic of highly functional products? A) Low frequency of stockouts B) High contribution margins C) Unpredictable demand D) Frequent markdowns E) High product variety 23) Which of the following is most important when supplying innovative goods? A) Physical efficiency B) Reverse logistics C) Resource management D) Market responsiveness E) Manufacturing performance 24) Which of the following is most likely a true statement about supplying functional goods? A) Cost and quality are the main criteria when selecting suppliers. B) The risk of making forecasting errors is very high due to product variety. C) Demand cannot be reliably estimated so getting products to market is key. D) The greatest risk is missing the market with the wrong item at the wrong time. E) The opportunity cost of a stockout is very high, so lead times must be greatly reduced. 25) What is the most likely consequence of failure in a physically efficient supply chain? A) Module loss B) Margin squeeze C) Increased consumer demand D) Stockouts of high-margin goods E) Heavy markdowns of unwanted goods 26) An agile supply chain most likely ________. A) coordinates the roles of employees across divisions and firms B) modifies to meet newly identified customer expectations C) responds quickly to changes in volume and specifications D) changes to follow major shifts in the environment E) gives all parties compatible incentives 27) An adaptable supply chain most likely ________. A) coordinates the roles of employees across divisions, channels, and firms B) implements marketing strategies that match the product life cycle C) responds quickly to changes in volume and specifications D) changes to follow major shifts in the environment E) gives all parties compatible incentives 28) In order to encourage coordination among employees, the supply chain manager for Park Shoes ensures that all parties receive compatible incentives. The supply chain is best described as ________. A) agile B) aligned C) amenable D) adaptable E) adjustable 29) What is most likely the key to the success of Zara? A) Globally outsourced manufacturing B) Efficient consumer responsiveness C) Sophisticated logistics software D) Quick response supply chain E) Large IT investments 30) How long does it usually take Zara to transfer a clothing design into physical product in a store? A) 7 days B) 15 days C) 30 days D) 45 days E