Supply Chain Strategy
Midterm Exam
Course Introduction
Supply Chain Strategy explores the design, management, and optimization of end-to-end supply chains to achieve competitive advantage in global markets. This course examines frameworks for aligning supply chain operations with business strategy, covering topics such as demand forecasting, network design, sourcing decisions, risk management, sustainability, and digital transformation. Students will analyze real-world cases, evaluate emerging industry trends, and develop strategic plans that balance cost efficiency, responsiveness, and innovation to create resilient, agile, and value-driven supply chains.
Recommended Textbook
International Logistics Management of International Trade Operations 3rd Edition by David
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Chapter 1: Introduction
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Q1) The Bretton Woods Conference triggered the creation of the World Trade Organization in 1944.
A)True
B)False
Answer: False
Q2) The ____________________ succeeded the General Agreement on Tariffs and Trade created by the Bretton Woods Conference.
Answer: World Trade Organization
Q3) Russia can produce 25 tons of steel or 5 automobiles using the same amount of resources.Using the exact same amount of resources,India can produce 18 tons of steel and 3 automobiles.According to the theory of comparative advantage,the countries will trade with each other.What will Russia produce?
A) steel
B) automobiles
C) some steel and some chairs
D) Impossible to determine with the information given
E) None of the above
Answer: B
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Chapter 2: International Supply Chain Management
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Q1) The country of Germany has implemented a secondary refuse collection system,specifically targeted at packaging materials,that is funded entirely by industry.
A)True
B)False
Answer: True
Q2) The increased usage of air transport for international trade has had which consequence?
A) decreased shipping costs
B) increased insurance claims
C) increased probability of a company being selected as a supplier, by reducing delivery times
D) increased shipping delays
E) All of the above
Answer: C
Q3) The fact that there are different languages,cultures,currencies,and laws in foreign countries illustrates the idea that the international logistician operates in a more challenging ____________________.
Answer: environment
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Chapter 3: International Logistics Infrastructure
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Q1) As a defense measure to keep invading military troops from using their railroads,Spain and Russia
A) built explosives into bridges and tunnels.
B) made drive controls in locomotives opposite to what they were in the rest of Europe.
C) developed widths between the rails (gauges) different from those of the rest of Europe.
D) All of the above
E) None of the above
Answer: C
Q2) The effectiveness of a port is often dependent upon the quality of the road and rail network to which it is connected.
A)True
B)False
Answer: True
Q3) The ____________________ of an airport determine(s)the type of aircraft which can serve that airport.
Answer: runways
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Chapter 4: Methods of Entry into Foreign Markets
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Q1) An exporter has the most control over its foreign sales through a(n)
A) sales or marketing subsidiary.
B) export trading company.
C) export management company.
D) agent.
E) distributor.
Q2) United States companies are prohibited from giving bribes in foreign countries by the ____________________ Act.
Q3) Because of action by the World Trade Organization to lower tariffs in the future,there should be an increase in the importance of foreign trade zones.
A)True
B)False
Q4) In its relationship with an agent,an exporter is known as the A) originator.
B) commissioner.
C) principal.
D) pre-agent.
E) None of the above
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Chapter 5: International Contracts
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Q1) Normally,an exporter pays the agent's commission when the ___________________ pays the exporter.
Q2) How trade secrets and other strategic advantages are to be handled is included in a _____________________ clause of a contract.
Q3) The main reason some countries use specific statutes to regulate international distribution agreements is that they feel they need to ____________________ agents and distributors.
Q4) Under the United Nations Convention on Contracts for the International Sale of Goods (CISG),when an offer is made
A) it cannot be withdrawn by the buyer or seller before its expiration date.
B) it can be withdrawn at any time before the expiration date.
C) it must be in writing.
D) international courts usually recognize that it can be withdrawn even after the expiration date.
E) None of the above
Q5) In most Middle Eastern countries,agents and distributors are not required to be nationals of the country.
A)True
B)False
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Chapter 6: Terms of Trade or Incoterms
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Q1) Under Incoterm DEQ,transfer of responsibility for cargo from importer to exporter is at the ship's rail as the cargo is loaded onto the ship
A)True
B)False
Q2) Under the DES Incoterm,the exporter is responsible for the goods until they are placed at the disposal of the importer at the ____________________ of destination.
Q3) FOB is
A) Free On Board.
B) an Incoterm that can be used for any merchandise.
C) an Incoterm specifically designed for ocean transportation.
D) All of the above
E) None of the above.
Q4) The customer-focused exporter gives the importer a quote in which the importer can determine which ____________________ should govern the transaction.
Q5) Under the CPT Incoterm,the ____________________ is responsible for unloading the goods from the carrier's truck,clearing customs,and paying for any inland transportation beyond the city of destination.
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Chapter 7: Terms of Payment
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Q1) The majority of transactions issued in the European Union are conducted on a "documentary collection" basis.
A)True
B)False
Q2) In attempting a credit check of a foreign firm,a basic problem is
A) deciphering the business's organization and name.
B) most international banks are corrupt.
C) most countries avoid international trade.
D) All of the above
E) None of the above
Q3) A letter of credit is more secure than cash in advance.
A)True
B)False
Q4) Since a draft (or a bill of exchange)is a legal document in the importing country,the courts in the importing country would consider non-payment by an importer as a domestic issue.
A)True
B)False
Q5) In a cash-in-advance transaction,all risk is transferred to the
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Chapter 8: Currency of Payment (Managing Transaction
Risks)
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Q1) The risk a company faces in a transaction that may have fluctuations in foreign currency exchange rates is called transaction ____________________.
Q2) The principle of Interest Rate Parity is that the forward exchange rate should be expressed as a premium if the foreign country is experiencing higher nominal rates than the domestic country.
A)True
B)False
Q3) Some currencies are traded in the futures' market as "commodities."
A)True
B)False
Q4) If the exporter and the importer agree that a transaction will be in the currency of the exporter's country,the exporter then bears all the risks of exchange rate fluctuation.
A)True
B)False
Q5) A characteristic of options hedging is that options are commonly traded for many different currencies.
A)True
B)False
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Chapter 9: International Commercial Documents
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Q1) For an American exporter,one way to avoid delays in the port of departure in the United States is to
A) make sure that the Shipper's Export Declaration has been filed on time.
B) make sure that the number of original invoices and bills of lading is at least five.
C) make sure that the invoice has been visa-ed by the consulate of the importing country.
D) make sure that the packing list has been written in the language of the importing country.
E) None of the above
Q2) A careful preparation of all of the documents by the exporter helps the importer tremendously when it is time to clear Customs.
A)True
B)False
Q3) Export quotas can be used to control scarce resources or prices of products for which an exporting country faces heavy competition.
A)True
B)False
Q4) The United States requires a(n)____________________ Export Declaration.
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Chapter 10: International Insurance
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Q1) Lloyd's of London originally began in a coffee shop.
A)True
B)False
Q2) Ordinary leakage is of more concern in air transit than in ocean transit.
A)True
B)False
Q3) Even in good weather,cargo is subject to ship's movement in ____________________ directions at once.
Q4) Airfreight insurance policies
A) are more complicated than ocean marine policies.
B) are written as "All Risks" policies.
C) have none of the traditional exclusions of ocean marine policies.
D) All of the above
E) None of the above
Q5) Most of the ships that sink each year
A) are older ships.
B) are bulk ships.
C) are ships flying third world countries' flags.
D) All of the above
E) None of the above
Page 12
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Chapter 11: International Ocean Transportation
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Q1) LASH ships cannot function well in ports that have little lifting equipment.
A)True
B)False
Q2) Ships too large to pass through the Panama Canal are called
A) tramps.
B) Panamax ships.
C) post-Panamax ships.
D) capesize ships.
E) None of the above
Q3) ____________________ ships do not operate on a regular schedule but travel wherever the company using the vessel wants the cargo delivered.
Q4) In intermodal shipping,while the liability limits depend on the nationality of the carrier,the limits are the same for domestic transport in the exporting country,international transport by ocean,and domestic transport in the importing country.
A)True
B)False
Q5) Deadweight tonnage does not include the bunker.
A)True
B)False
Page 13
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Chapter 12: International Air Transportation
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Q1) International cargo services on passenger airplanes are somewhat unreliable because passenger airlines often ____________________ freight.
Q2) Aircraft designed so that freight is carried on the main deck as well as in the belly hold are called ____________________.
Q3) Large amounts of _____ enter the United States through the Miami Airport.
A) cut flowers
B) DVD players
C) television sets
D) processed sugar
E) None of the above
Q4) The United States governmental agency that has primary responsibility for security issues in air transportation (whether passenger or cargo)is
A) International Air Transport Association.
B) Transportation Security Administration.
C) International Civil Aviation Organization.
D) Customs and Border Protection.
E) None of the above
Q5) The largest airfreight company in the world is ____________________.
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Chapter 13: International Land and Multi-Modal Transportation
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Q1) The shipping container was developed in 1970 by Marshall McLuan.
A)True
B)False
Q2) Overloaded trucks are common in ____________________ and some parts of Asia.
Q3) River barges mostly carry ____________________ cargo.
Q4) In 2007,U.S.railroads had a market share of _____ of all long-distance ton miles shipped.
A) 40 percent
B) 35 percent
C) 22 percent
D) 12 percent
E) None of the above
Q5) Pipelines can be used to transport coal.
A)True
B)False
Q6) Cargo that requires specific arrangements to be transported,because it exceeds weight and dimensional limits of traditional cargo,is called "project cargo."
A)True
B)False Page 15
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Chapter 14: Packaging for Export
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Q1) Characteristic(s)of fiber drums is/are
A) they are more resistant to pilferage than bags.
B) they can readily be rolled on their sides.
C) they are resistant to mechanical damage such as that caused by forklifts or sharp corners.
D) All of the above
E) None of the above
Q2) Placing a truck trailer on a railroad car is called ____________________.
Q3) To protect against condensation damage inside a container,the container's interior floor and,ideally,its interior sides should be made of ____________________.
Q4) Single shipments that are too small to be shipped as a full container are _____________________ by a freight forwarder or a NVOCC with other freight and then shipped in a full container.
Q5) Softwood used in crates and boxes is obtained from leafy trees such as poplar or oak.
A)True
B)False
Q6) Boxes and enclosed crates should be lined with a waterproof material such as
Page 17
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Chapter 15: International Logistics Security
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Q1) The ____________________ emphasized that the reduction of poverty,the enforcement of international agreements against arms proliferation,the restoration of democratic governments in areas of regional conflicts,and an increase in international cooperation for criminal investigations would be most effective in dealing with security threats.
Q2) European countries have experienced significant violent attacks from which of the following terrorist group(s)?
A) the Organisation de l'Armée Secrète
B) the Provisional Irish Republican Army
C) Rote Armee Fraktion
D) the Baader-Meinhof Gang
E) All of the above
Q3) In order to protect their shipments while they are in transit,companies implement a different set of measures; they make sure that all cargo containers are ____________________ before they leave any facility
Q4) "Geo-fencing" is a technology that allows a company to monitor whether a truck shipment departs from a pre-determined itinerary.
A)True
B)False
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Chapter 16: Customs Clearance
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Q1) The country of origin of a product is the country in which it acquired its most substantial ____________________.
Q2) Argentina,after being chastised by the World Trade Organization for having increased its duty rate on footwear,reduced them,and immediately reimposed them through a _____ tax designed to protect its footwear industry against foreign competition.
A) punitive
B) border traffic
C) temporary protection
D) safeguard
E) None of the above
Q3) Most countries welcome imports.
A)True
B)False
Q4) In order for a product to be labeled as "made in the USA," its minimal United States content must be ____________________ percent of the product's value.
Q5) The tax an importer must pay in order to be allowed to let goods into the country is called ____________________.
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Chapter 17: Using International Logistics for Strategic Advantage
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Q1) It is generally possible for an exporter accustomed to selling on a CIF basis to sell on an EXW basis,if that is what the importer requests.
A)True
B)False
Q2) Which of the following Incoterms is the least customer-friendly?
A) Free On Board
B) Free Alongside Ship
C) Free Domicile
D) Cost, Insurance and Freight
E) None of the above
Q3) The technique developed by the British Broadcasting Corporation to communicate clearly and accurately with non-native English speakers is called
Q4) For an exporter,a reputation to be careful and thorough in the preparation of paperwork can constitute a strategic advantage.
A)True
B)False
Q5) In many countries,work and ____________________ rarely intersect.In other countries,they are closely tied to one another.
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