Quiz 2025 ISM INTE: Supply Management Integration Newest Latest Exam Price

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ISM INTE Exam Syllabus Topics:

Topic	Details
Topic 1	Sales and Operations Planning (SOP): This section covers sales and Operations Planning, Demand Planning, and Forecasting.
Topic 2	Supply Chain Strategy: This section deals with how to develop and implement material or service standardization programs and implement requirements planning to align supply management activities with organizational strategy.
Topic 3	Quality Management: This section covers understanding and applying quality management principles throughout the supply chain.
Topic 4	Project Management: This section covers applying project management principles to supply management activities.
Topic 5	Logistics and Materials Management: This section covers knowledge of transportation modes, warehousing, and inventory management practices.

ISM Supply Management Integration Sample Questions (Q14-Q19):

NEW QUESTION # 14
A company's average inventory value has remained relatively constant, while its cost of goods sold has increased. Which of the following will also likely show an increase for this firm?

A. Turnover
B. Variance
C. Cycle time
D. Stock level

Answer: A

Explanation:
An increase in cost of goods sold while maintaining a constant average inventory value results in higher inventory turnover. This indicates improved efficiency in managing inventory relative to sales. References:
Inventory management metrics highlight turnover as a critical measure of how effectively inventory is being utilized.

NEW QUESTION # 15
A large retailer and one of its suppliers establish a process to combine intelligence from both organizations in order to improve product availability while reducing inventory, transportation, and logistics costs. This process is known as which of the following?

A. Enterprise resource planning
B. Vendor-managed inventory
C. Sales and operations planning
D. Collaborative planning, forecasting and replenishment

Answer: D

Explanation:
The process described is Collaborative Planning, Forecasting and Replenishment (CPFR), which involves both the retailer and supplier working together to improve product availability and reduce costs associated with inventory, transportation, and logistics. References: CPFR is a widely adopted strategy in supply chain management to enhance collaboration and optimize the supply chain.

NEW QUESTION # 16
A project charter addresses which of the following areas?

A. Problem statement, statement of work, resource requirements, milestones, and sponsor's approval
B. Problem statement, scope, constraints, milestones, team and authority, risk, and sponsor's approval
C. Problem statement, budget, timeline, work breakdown structure, project team, and sponsor's approval
D. Problem statement, team, roles and responsibilities, cost structure, timelines, and sponsor's approval

Answer: B

Explanation:
A project charter includes a problem statement, scope, constraints, milestones, team and authority, risk, and sponsor's approval. This comprehensive document outlines the project's framework, guiding its execution and ensuring alignment with organizational goals.

NEW QUESTION # 17
Reducing the number of items that perform the same or similar function is known as

A. simplification
B. standardization
C. value analysis
D. value engineering

Answer: B

Explanation:
Standardization involves reducing the variety of items performing similar functions. This process streamlines inventory, reduces costs, and simplifies procurement by focusing on a limited range of products. It supports efficiency and cost management in supply chain operations, as referenced in supply chain management best practices.

NEW QUESTION # 18
A firm engaging in low-cost country sourcing wants to assume the least amount of risk when importing goods into its own country. Which of the following Incoterms 2020 rules would be MOST useful in achieving this goal7

A. EXW
B. DAP
C. CFR
D. CPT

Answer: B

Explanation:
In the context of low-cost country sourcing and minimizing risk when importing goods, the selection of appropriate Incoterms 2020 rules is crucial.
DAP (Delivered at Place) is the most suitable Incoterm for a firm wanting to assume the least amount of risk.
Under DAP, the seller is responsible for all costs and risks associated with delivering the goods to a specified destination, which includes transportation, export customs clearance, and any other logistical arrangements until the goods are made available for unloading at the buyer's location. This significantly reduces the buyer's risk as the seller handles most of the transportation and logistics.
Other Incoterms, such as:
* CFR (Cost and Freight): The seller pays for the cost and freight to bring the goods to the port of destination. However, the risk is transferred to the buyer once the goods are loaded on the vessel.
* CPT (Carriage Paid To): Similar to CFR, but can be used for any mode of transport. The seller covers transport costs to a specified destination, but the risk transfers to the buyer upon handing over the goods to the first copyright.
* EXW (Ex Works): The buyer assumes all risks and costs from the seller's premises onward, making it the highest risk for the buyer.
References:
* Incoterms 2020 by the International Chamber of Commerce (ICC)
* "A Guide to Incoterms 2020" by the International Trade Centre (ITC)

NEW QUESTION # 19
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QUIZ 2025 ISM INTE: SUPPLY MANAGEMENT INTEGRATION NEWEST LATEST EXAM PRICE

Quiz 2025 ISM INTE: Supply Management Integration Newest Latest Exam Price