L6M10 exam

A company is looking to improve cost efficiency while remaining responsive to customer demands in its supply chain operations. Which practice involves outsourcing core logistics capabilities to specialist providers like DHL and FedEx?A . Total external asset managementB . Third-party logistics (3PL)C . Fourth-party logistics (4PL)D . Stock and inventory...

How do transacting parties commonly address potential conflicts of laws in international trade agreements?A . By deferring the choice of law to the distributor or buyerB . By choosing the law of one of the transacting parties' home statesC . By relying on international arbitration exclusivelyD . By avoiding any...

The quarterly Global Supply Chain Risk Report measures strategic logistical risks across industry sectors using four key risk metrics. Which metric examines the impact of the exchange rate when transactions occur between the buying organization and supply partners who use different currencies?A . Global sourcing riskB . Supplier criticalityC ....

A company wants to implement a strategy that maintains product neutrality and customization possibilities for as long as possible in its supply chain. Which postponement strategy is most suitable for achieving this goal?A . Manufacturing postponementB . Logistics postponementC . Material flow postponementD . Information flow postponementView AnswerAnswer: A Explanation:...

In the context of virtual centralization for information dissemination in a global supply chain, what is one of the challenges commonly associated with this approach?A . Reduced risk of duplicationB . Perception of the virtual team as 'gatekeepers'C . Greater recognition of value delivered by the teamD . Increased ease...

What is the primary focus of the codification approach to supply chain knowledge management?A . Documenting historical dataB . Personalizing knowledge accessC . Making knowledge available centrallyD . Extracting knowledge from individualsView AnswerAnswer: C Explanation: The codification approach ensures that knowledge is stored centrally in repositories and databases for organizational...

A procurement professional is tasked with optimizing logistics processes for an organization where extended transportation pipelines are causing concerns about product obsolescence and increased inventory holding costs. What strategy might the procurement professional consider?A . Increasing transportation costs to expedite product deliveryB . Purchasing inventory from high-wage economiesC . Reducing...

A procurement professional is tasked with optimizing the global pipeline for a multinational organization. They want to eliminate non-value-adding processes and improve efficiency. What technique should they consider using?A . Increasing the number of supply partnersB . Value stream mappingC . Implementing cloud-based technologiesD . Conducting physical visits to suppliersView...

What is a key factor considered when choosing between centralized and regionalized inventory handling?A . Transportation cost savingsB . Customer service measurementsC . Distribution efficiencyD . Total cost conceptView AnswerAnswer: D Explanation: The total cost concept considers the overall impact on inventory management costs, prioritizing end-to-end cost reduction over isolated...

A manufacturing company is considering outsourcing its logistics and supply chain management operations to a third-party service provider. They want to focus on business development and sales. Which of the following advantages is most likely to attract the company to using a third-party logistics (3PL) provider?A . Management of every...