2.7 Chapter 2 Assessment

Conceptual Questions:

1. Section 2.1: Introduction to Supply Chain Strategy
   • Question: What are the three key aspects of a supply chain strategy that make it difficult to change once implemented?
2. Section 2.1.1: Evolution of Supply Chain Strategy
   • Question: How did the historical approach to supply chain strategy differ from the modern approach?
3. Section 2.1.2: Approaches to Supply Chain Strategy Making
   • Question: What is the difference between the top-down and bottom-up approaches to supply chain strategy making?
4. Section 2.1.3: Elements of Supply Chain Strategy
   • Question: Why is the logistics element of supply chain strategy critical to overall supply chain effectiveness?
5. Section 2.1.4: Vertical and Lateral Integration
   • Question: What is one advantage and one disadvantage of vertical integration in a supply chain strategy?
6. Section 2.2: Designing Supply Chain Strategies
   • Question: What is the role of environmental scanning in designing a supply chain strategy?
7. Section 2.3: Models in Supply Chain Strategy
   • Question: According to Fisher’s model, how should a supply chain for innovative products be designed?
8. Section 2.4: Supply Chain Strategy Review
   • Question: Why is it important to regularly review and update supply chain strategies?
9. Section 2.4.1: Balanced Scorecard
   • Question: How does the Balanced Scorecard approach help in evaluating supply chain performance?
10. Section 2.4.2: Cash to Cash Cycle Time
    • Question: What does a shorter Cash to Cash Cycle Time indicate about a company’s supply chain efficiency?
11. Section 2.5: Global Supply Chain Strategies
    • Question: What is a key challenge in managing a global supply chain?

Situational Questions:

1. Situation 1:
   • Question: You are the supply chain manager for a company that specializes in innovative products with high market volatility. Recently, you’ve noticed that your current supply chain, which is focused on efficiency, is struggling to meet customer demands due to its lack of flexibility. Based on the concepts in Chapter 2, what steps would you take to realign your supply chain strategy with the needs of your product portfolio?
2. Situation 2:
   • Question: Your company has recently expanded into new international markets, and you are responsible for developing a global supply chain strategy. Considering the various factors outlined in Chapter 2, such as cost, market access, and risk management, what approach would you take to design an effective global supply chain network?