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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:
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 types of risk typically would be most difficult to plan for and mitigate?
For an item with high profit impact and low supply risk, what would be a likely procurement strategy to support the overall supply strategy?
Which of the following elements typically is considered to be an output of demand planning?

Question 313 - CSCP discussion

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Which of the following responses to risk best describes the evolving concept of flexibility in supply chain risk management?

A.
The practice of adjusting capacities in a manufacturing environment
Answers
A.
The practice of adjusting capacities in a manufacturing environment
B.
The ability to react quickly to changes or events while maintaining customer service levels
Answers
B.
The ability to react quickly to changes or events while maintaining customer service levels
C.
The ability to produce high volume stock keeping units (SKUs) in multiple locations
Answers
C.
The ability to produce high volume stock keeping units (SKUs) in multiple locations
D.
The ability to produce complex configurations of a product within the standard lead time
Answers
D.
The ability to produce complex configurations of a product within the standard lead time
Suggested answer: B

Explanation:

Flexibility in supply chain risk management involves the capacity to respond promptly and effectively to disruptions or changes in the supply chain while maintaining customer service levels. This includes being able to switch suppliers, adjust production schedules, and manage inventory dynamically to meet customer demands despite unforeseen events.

Adjusting capacities in a manufacturing environment (A) is a part of flexibility but not as comprehensive as the ability to maintain service levels.

Producing high volume SKUs in multiple locations (C) and producing complex configurations of a product within the standard lead time (D) are aspects of flexibility but do not capture the broader definition related to risk management and customer service.

Tang, C. S. (2006). Robust strategies for mitigating supply chain disruptions. International Journal of Logistics Research and Applications.

Sheffi, Y. (2005). The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage. MIT Press.

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asked 16/09/2024
Yener Yuksel
39 questions
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