Supply Chain Management Multiple Choice - Answer Sheet

1. Effective supply chain management aims to improve efficiency throughout the entire process.

2. The process of selecting and managing suppliers is known as procurement.

3. Warehousing refers to the storage of goods before they are sold or distributed.

4. The time between placing an order and receiving the goods is called lead time.

5. Goods moving from manufacturers to retailers is called distribution.

6. When a company holds too much stock, this creates unnecessary costs in inventory.

7. To manage the supply chain efficiently, companies aim to minimise waste.

8. Selecting a reliable supplier is crucial for ensuring the smooth flow of goods.