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A company finds that one of its warehouses is out of capacity to store products. Expanding the physical size of the warehouse is not an option. The most appropriate solution would be to increase the:
The purpose of price differentiation is to:
In a make-or-buy decision, if the product is modular and the company is dependent on knowledge and capacity, outsourcing most likely will be:
A company's annual cost of goods sold is $350 million, and inventory carrying cost is 18%. The company averages four inventory turns. The cost savings resulting from increasing inventory turns from four to six would be:
Supply chains delivering products or services are most able to respond quickly to changing market requirements when:
Throughout most of the supply chain, safety stock will be de-emphasized as a result of improved:
The practice of supply chain members acting in close collaboration while retaining independent ownership is known as:
A company considers moving a portion of its production to a distant country to support a major customer. Which of the following actions is most effective in mitigating the risk of financial loss in the event of a global economic downturn?
Which of the following elements of total quality management (TQM) results in a lower overall cost of the product?
Which of the following types of risk typically would be most difficult to plan for and mitigate?

Question 99 - CSCP discussion

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A company's supply chain depends heavily on sourcing from international suppliers. Conditions increasingly threaten supply continuity. Which of the following actions is most appropriate?

A.
Source from domestic suppliers.
Answers
A.
Source from domestic suppliers.
B.
Conduct a risk assessment.
Answers
B.
Conduct a risk assessment.
C.
Carry additional safety stock.
Answers
C.
Carry additional safety stock.
D.
Spread logistics across multiple carriers.
Answers
D.
Spread logistics across multiple carriers.
Suggested answer: B

Explanation:

When supply continuity is threatened due to heavy dependence on international suppliers, the most appropriate action is to conduct a risk assessment. This involves systematically identifying potential risks, evaluating their impact, and developing strategies to mitigate them. The risk assessment provides a comprehensive understanding of vulnerabilities and helps in making informed decisions on sourcing strategies, inventory management, and logistics.

Sourcing from domestic suppliers may reduce some risks but might not be feasible or cost-effective without a thorough assessment.

Carrying additional safety stock is a mitigation strategy but does not address the root cause of supply risk.

Spreading logistics across multiple carriers can help manage transportation risks but does not cover the broader supply chain risks.

Christopher, M. (2011). 'Logistics & Supply Chain Management.'

Waters, D. (2011). 'Supply Chain Risk Management: Vulnerability and Resilience in Logistics.'

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asked 16/09/2024
Grip op IT
40 questions
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