1. What three functions are necessary in order to produce a product or deliver a service?
a. IT, Finance and Sales
b. Operations, Finance and IT
c. Marketing, Operations and Finance
d. Strategic planning, Marketing and Sales
2. When defining the supply chain, which does NOT belong?
a) A global network of organizations and activities that supplies a firm with goods and services.
b) Specialize expert knowledge, instant communications, and cheaper transportation.
c) Organizations rely on other organization’s product and services to reduce cost.
d) Raw materials received and stored in inventory for operations.
3. The following are components of what type of inventory cost: order preparation expenses, mailing charges, shipping cost?
a. Total cost
b. Ordering cost
c. Holding cost
d. Maintenance cost