Supply Chain Management Multiple Choice

1. Effective supply chain management aims to improve ______ throughout the entire process.
a) confusion
b) efficiency
c) cost

2. The process of selecting and managing suppliers is known as ______.
a) procurement
b) logistics
c) inventory

3. ______ refers to the storage of goods before they are sold or distributed.
a) Distribution
b) Procurement
c) Warehousing

4. The time between placing an order and receiving the goods is called ______.
a) lead time
b) delivery time
c) stock period

5. Goods moving from manufacturers to retailers is called ______.
a) procurement
b) supply
c) distribution

6. When a company holds too much stock, this creates unnecessary costs in ______.
a) logistics
b) procurement
c) inventory

7. To manage the supply chain efficiently, companies aim to minimise ______.
a) inventory
b) waste
c) customers

8. Selecting a reliable ______ is crucial for ensuring the smooth flow of goods.
a) employee
b) supplier
c) customer