Year 2021

1. What is Intrapreneurship?

An intrapreneurship is a phenomenon of empowering the employees within the organization, by valuing their ideas and converting them into a profit-making model for the business.

2. What is lifestyle firm?

Lifestyle firms are those businesses which provide their owner or owners the opportunity to pursue a particular lifestyle and earn a living while doing so. These firms are not innovative, nor do they grow quickly.

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3. How can we achieve strategic fit?

There are three steps to achieve strategic fit, they are:

Step 1: Understanding the customer and supply chain uncertainty

Step 2: Understanding the supply chain capabilities

Step 3: Ensure that the degree of supply chain responsiveness is consistent with the implied demand uncertainty.

4. What is push view of supply chain?

Push view of supply chain is the process where products are manufactured and shipped is initiated in anticipation of customer orders (speculative).

5. What is distributor storage with last mile delivery?

Last mile delivery refers to the distributor/retailer delivering the product to the customer’s home instead of using a package carrier. Unlike package carrier delivery, last mile delivery requires the distributor ware house to be much closer to the customer.

6. Why do we require IT in supply chain?

We require IT in supply chain for the following reasons:

  • Effective Information Management
  • Help in Decision Support System
  • Digital Order Processing System
  • Fast Connectivity.

7. What is the difference between logistic and supply chain management.

The basic difference between Logistics and Supply Chain Management is that Logistics management is the process of integration and maintenance (flow and storage) of goods in an organization whereas Supply Chain Management is the coordination and management (movement) of supply chains of an organization.

8. What is Global supply chain?

A global supply chain is made up of the interrelated organizations, resources, and processes that create and deliver products and services to end customers. In the instance of global supply chains, it is extended around the world.

9. What is aggregate planning in supply chain?

Aggregate planning is a process by which a company determines ideal levels of capacity, production, subcontracting, inventory, stock outs and even pricing over a specified time horizon. The goal of aggregate planning is to satisfy demand while maximizing profit.

10. What are the obstacles to achieve coordination in supply chain?

The following are the major obstacles to achieve coordination in supply chain:

  • Incentive obstacles
  • Information-processing obstacles
  • Operational obstacles
  • Pricing obstacles
  • Behavioral obstacles

Year 2019

1. What do you mean by entrepreneurship?

An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. The process of setting up a business is known as entrepreneurship.

2. Mention the ethical responsibility of the entrepreneur.

  • Avoid discrimination among employee
  • Job security of the employee
  • provide safe, fair adequate and stable long run rate of return
  • Develop healthy and inter-business relationships with fellow-entrepreneurs

3. Mention any two characteristics of marketing plan.

The two characteristics of marketing plan are:

  • It should provide a strategy for accomplishing the company mission or goal.
  • It should be based on facts and valid assumption.

4. Define Supply Chain Management.

Supply chain management is the management of the flow of goods and services and includes all processes that transform raw materials into final products.

.5. Decision Support System (DSS) is important in SCM. Why?

Decision Support System (DSS) have emerged as a powerful tool for such situations, whereby they can be designed to provide analysis and comprehensive of complex supply chain effectively. DSS often enable supply chain processes and activities at both strategic and tactical level such as demand planning, inventory.

6. List out competitive strategy.

  • Cost Leadership Strategy
  • Best Cost Strategy
  • Differentiation Strategy
  • Focus Strategy

7. What is a Potential hidden cost?

Expenses that are not normally included in the purchase price for a piece of equipment or machine. Example: Maintenance, Suppliers, Training, Support and Upgrades.

8. List out the role of IT in coordination.

Supply Chain coordination occurs when all the different stages of a supply chain work towards the objective of maximizing total supply chain profitability.

9. Which kind of challenges occur in global supply chain management?

  • Material Scarcity
  • Difficulty in forecasting demand.

10. Aggregate Planning is Key in Supply Chain. Justify.

Aggregate Planning is Key in Supply Chain because aggregate planning helps in the determination of Production, Inventory, Capacity, etc.

Year 2018

1. What is gazelles?

Very high growth venture with high potential that grows at very high speed and becomes on one of the key to the economic and infrastructure development of the region.

2. Why Marketing plan created?

Marketing plan is created to know the condition strategy related to how products or services will be distributed, priced and promoted.

3. Who are the readers of business plan?

Inventors, Bankers, Venture Capitalist, Suppliers, Employees, Customers, advisors and consultants are the readers of business plan.

4. What is executive summary?

Executive summary is the short, concise and optimistic overview of business that captures the reader’s attention and give them an interest in learning about the product and business.

5. What is Supply Chain?

Supply Chain can be defined as the management of flow of products and services, which begins from origin of products and end at the product consumption. It also comprises movement and storage of raw materials that are involved in work program, inventory and fully furnished goods.

6. How supply chain is different from logistics?

Supply chains are responsible for the overall sourcing, processing and delivery of goods to the end customer, while logistics specifically focuses on moving and storing goods between different supply chain organizations.

7. What is competitive strategy?

Competitive strategy is a company’s long-term action plan to gain competitive advantage over its rivals after evaluating their strengths, weaknesses, opportunities and threats in the industry and comparing it with your own.

8. What does the term distribution refers to in supply chain?

Distribution means to spread the product throughout the market place such the large numbers of people can buy it.

9. What is drop shipping?

Drop shipping is a form of retail business wherein the seller accepts customer orders without keeping stock on hand.

10. What is sourcing facility?

Sourcing is the set of business process required to purchase goods and services. Managers must decide which task will be outsourced and those that will be performed within the firm.

Year 2017

1. What is supply chain?

A supply chain is a system of organizations, people, activities, information and resources involves in moving a product and services from suppliers to customers. Supply chain activities transform raw materials and components into a finished product that is delivered to the end customers.

2. What do you mean by competitive strategy?

Competitive strategy is a company’s long-term action plan to gain competitive advantage over its rivals after evaluating their strengths, weaknesses, opportunities and threats in the industry and comparing it with your own.

3. Define Procurement cycle.

The procurement cycle, also known as the procurement process, is a series of events that lead up to the final purchase of goods and services.

4. Define inbound transportation cost.

Inbound shipping costs refer to incoming freight transport, storage, and delivery of goods cost borne by a company. It is essentially the cost of shipping goods from your production site to their final destination.

5. What is window of opportunity?

The window of opportunity refers to the time period in which a firm or an entrepreneur can realistically enter a new market. Once the market for a new product is established, its window of opportunity opens. As the market grows, firms enter and try to establish a profitable position.

6. List various network design options.

  • Manufacturing storage with direct shipping
  • Manufacturer storage with direct shipping and in-transit merge
  • Distributor storage with carrier delivery
  • Distribution storage with last-mile delivery
  • Manufacturer/distributor storage with consumer pickup.

7. What is cross docking?

Cross-docking is the practice of unloading goods from inbound delivery vehicles and loading them directly onto outbound vehicles. An example of cross docking is when freight from incoming trucks is wheeled across the shipping dock and loaded directly on outbound trucks without entering a warehouse.

8. Define outpost facility.

Outpost facility: regional production facility built to gain local skills. This facility plays the role of a server facility but more importantly, it obtains access to knowledge or skills that exist in that region.

9. Define planning horizon.

A planning horizon is the length of time (i.e., the number of weeks or months) into the future for which plans are made. An optimal plan should take into consideration all the information relevant to future events.

10. What do you mean by collaborative forecasting?

Collaborative forecasting is a way in which the entire supply chain is a participant in decisions about the demand that will drive their activity.

Year 2016

1. How economics view entrepreneurship?

In economics, entrepreneurship is closely related to the land, labour, natural resources and capital that can help to generate profit. An entrepreneurial vision involves discovery and risk-taking that are critical for nations in order to succeed in the ever-changing and competitive global marketplace.

2. What do you mean by Intrapreneurship?

An intrapreneurship is a phenomenon of empowering the employees within the organization, by valuing their ideas and converting them into a profit-making model for the business.

3. Why information is called a cross-functional driver?

Information is a cross-functional driver because companies have used to become both more efficient and more responsive. Information deeply affects every part of the supply chain and impacts every other driver. Good information on supply and demand can help improve the utilization and responsiveness of a facility.

5. What are positive externalities?

Positive externalities occur when a third party benefits at no direct cost. For example, there are hundreds of shops in the mall, but the average consumer doesn’t go to see them all. Instead, they go to a few specific shops that they want to buy from.

6. What do you mean by gravity location model?

Gravity models are used to find location that minimizes the cost of transporting raw material from the supplier and finished goods to the markets served

7. List any four operations of supplier relationship management.

  • Design collaboration
  • Buy
  • Source
  • Supply collaboration

8. What is local optimization problem in coordination of supply chain?

Optimization that deals with optimizing a single function without taking into account its effect on other portions of the supply chain.

9. List any two desirable characteristics of a business plan?

  • Logical
    • Things written in the plan must make sense and should not be based on unrealistic matters
  • Uniqueness
    • Reflect uniqueness of the organization
  • Inspiring
    • Must inspire the readers to invest in the business and believe in the idea

10. Define market research.

Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers.

Year 2015

1. What do you mean by responsiveness?

Responsiveness can be defined as the ability of the supply chain to respond purposefully and within an appropriate timeframe to customer requests or changes in the marketplace.

2. List some technological factors that affect network design decision.

  • Significant economics of scale
    • A few high capacity location
  • Lower fixed costs
    • Many local facilities

3. What is order lead time?

Order lead time refers to the number of days from when a company places an order for production inputs it needs, to when those items arrive at the manufacturing plant.

4. What are the components of pricing decision?

  • Pricing and economics of scale
  • Everyday low pricing versus high-low pricing
  • Fixed price versus menu pricing

5. What is sell through and sell-in?

Sell-through refers to sales which reached the end consumer. Sell-in refers to sales into the retail channel – sales which just put product in the shelves, which the consumer might – or might not – buy.

6. What do you mean by entrepreneur?

An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.

7. List obstacles to achieve strategic fit.

  • Decrease product life cycles
  • Globalization
  • Changing business environment
  • Difficulty executing new strategies
  • An increase in variety of product

8. What is Entrepreneurship?

The capacity and willingness to develop, organize and manage a business venture along with new ideas by taking risk to make profits is entrepreneurship.

9. What is pricing obstacle?

Pricing obstacles arise when the pricing policies for a product lead to an increase in variability of orders placed.

  • Lot size based on quantity
  • discounts Price fluctuations

10. What does contributor facility mean?

Contributor facility- regional production facility with development skills.: – A contributor facility serves the market where it is located but also assumes responsibility for product customization, process improvements, product modification or product development.

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