#1
What is the primary goal of supply chain management in retail?
Maximizing shareholder wealth
Minimizing customer satisfaction
Minimizing operational efficiency
Maximizing customer value while minimizing costs
#2
Which of the following is a characteristic of an efficient supply chain?
High inventory levels
Frequent stockouts
Low lead times
Limited collaboration with suppliers
#3
What is the primary objective of a push-based supply chain strategy?
To quickly respond to customer demand
To minimize inventory levels
To forecast and plan production based on anticipated demand
To reduce lead times
#4
What is the concept of collaborative planning, forecasting, and replenishment (CPFR) in retail supply chain management?
An individual retailer's approach to planning and forecasting
A strategy that discourages collaboration between partners
A process where trading partners jointly plan, forecast, and replenish inventory
A method solely focused on reducing costs
#5
What is the Bullwhip Effect in the context of supply chain management?
A strategy to minimize fluctuations in demand
An increase in demand variability as one moves upstream in the supply chain
A decrease in inventory levels
A marketing campaign to promote products
#6
Which of the following is a key component of effective channel management in retail?
Reducing product variety
Increasing stockouts
Effective communication with channel partners
Ignoring customer feedback
#7
What does the term 'omnichannel retailing' refer to?
Selling products only through physical stores
Selling products through a single channel
Providing a seamless shopping experience across multiple channels
Ignoring online sales
#8
What role does demand forecasting play in supply chain management?
It has no impact on supply chain decisions
It helps in planning inventory levels and production schedules
It increases operational costs
It is only relevant for marketing purposes
#9
What is the primary purpose of a distribution center in a retail supply chain?
To manufacture products
To store and manage inventory
To conduct market research
To directly sell products to consumers
#10
In retail, what does the term 'markdown' refer to?
Increasing the original price of a product
Reducing the original price of a product
Promotional activities
Outsourcing production to other countries
#11
What role does technology play in modern retail supply chain management?
It has no impact on supply chain efficiency
It enables real-time tracking and visibility
It increases manual processes
It only supports online retail operations
#12
What is the purpose of a lead time in supply chain management?
To delay production
To accelerate order fulfillment
To measure the duration from product creation to delivery
To reduce product variety
#13
In retail, what does the acronym SKU stand for?
Sales and Key Updates
Stock Keeping Unit
Supply Chain Key Understanding
Store Keeping Update
#14
What is the purpose of safety stock in supply chain management?
To maintain a safe working environment
To prevent stockouts and meet unexpected demand
To reduce overall inventory costs
To maximize order quantity
#15
Which type of channel conflict occurs when different levels of the channel have disagreements or disputes?
Vertical conflict
Horizontal conflict
Functional conflict
Structural conflict
#16
What is the concept of Vendor-Managed Inventory (VMI) in retail supply chain management?
Suppliers have no involvement in managing inventory
Retailers independently manage supplier relationships
Suppliers take responsibility for managing the retailer's inventory
Retailers have no control over inventory management
#17
Which of the following is an example of a pull-based supply chain strategy?
Build-to-Order (BTO)
Mass production
Forecast-driven production
Push strategy
#18
What is the purpose of a reverse logistics system in retail supply chain management?
To increase the forward flow of products
To manage returns and product recalls
To speed up production processes
To reduce demand variability
#19
What is the role of a 3PL (Third-Party Logistics) provider in supply chain management?
To handle in-house production processes
To manage internal supply chain operations
To outsource logistics and transportation functions
To minimize lead times