Supply Chain Analytics Essentials Coursera Quiz Answers

Get Supply Chain Analytics Essentials Coursera Quiz Answers

Welcome to Supply Chain Analytics – an exciting area that is in high demand!

In this introductory course to Supply Chain Analytics, I will take you on a journey to this fascinating area where supply chain management meets data analytics. You will learn real life examples on how analytics can be applied to various domains of a supply chain, from selling, to logistics, production, and sourcing, to generate a significant social / economic impact.

You will also learn job market trends, job requirements and preparation. Lastly, you will master a job intelligence tool to find a preferred job(s) by region, industry and company.

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Supply Chain Analytics Essentials Coursera Quiz Answers

Week 2: Supply Chain Analytics Essentials

Quiz 1: Supply Chain Management and Analytics Basics

Q1. What is a supply chain?

  • A network of companies that creates, produces and deliver products and services
  • The integrated processes of a company that involves sourcing, making and delivery of its products and services

Q2. What are the goals of supply chain management?

  • Reduce cost and risk
  • Improve productivity and efficiency
  • Increase revenue
  • Improve customer satisfaction

Q3. One goal of supply chain management is cost reduction, what types of cost is included?

  • The cost of goods sold (COGS), such as procurement and production costs
  • The costs associated with financing and investment
  • Operating cost, such as logistics, inventory and warehousing costs.

Q4. How can supply chain management create a long-term competitive advantage for companies?

  • Cheaper, faster and higher quality
  • By improving customer satisfaction through higher operational expenses
  • By improving efficiency and reducing risk
  • By improving customer satisfaction and reducing cost in the same time

Q5. What types of analytics are applicable to supply chain management?

  • Predictive analytics
  • Prescriptive analytics
  • Descriptive analytics
  • Diagnostics analytics

Q6. What are the purposes of descriptive analytics?

  • To assess the current status of the system
  • To quantify the system performance quantiatively
  • To answer the question of how well (poorly) we are doing?

Q7. What are the purposes of diagnostics analytics?

  • To quantify the impact of various factors on the performance
  • To identify the driving force(s) of the performance
  • Link performance to root cause(s)

Q8. What are the purposes of predictive analytics?

  • To estimate the consequences of certain actions
  • To predict what will happen in the future
  • To predict the outcome of the system for various likely scenarios

Q9. What are the purposes of prescriptive analytics?

  • To provide decision support for a better system performance
  • To balance the trade-offs among conflicting forces so as to improve the net outcome
  • To improve the performance of the system by making optimized decisions
  • To make decisions automatically for the system

Q10. Why is analytics critical to supply chain management?

  • Analytics provides quantitative insights (rather than qualitative guesswork) on a supply chain’s performance
  • Analytics can integrate data from multiple sources to link performance to causes
  • Analytics can tell which strategy is better, by how much and under what assumptions

Quiz 2: Domains In a Supply Chain

Q1. What are the domains (functional areas) in a supply chain in manufacturing/trade industries?

  • Services
  • Move or distribution / logistics
  • Source or sourcing
  • Make or production
  • Sell or selling

Week 3: Supply Chain Analytics Essentials

Quiz 1: Sell Analytics

Q1. What are the key performance indicators of Sell Analytics?

  • Revenue
  • Customer satisfaction
  • Cost

Q2. What is the objective of sell analytics?

  • improve quality of the products and services
  • Sell faster and more
  • increasing sales and reduce cost

Quiz 2: Logistics Analytics

Q1. What are the key performance indicators of logistics?

  • Quality of products
  • Time, such as fulfillment time and on-time delivery performance
  • Logistics costs, such as shipping cost, inventory cost and warehousing cost

Q2. What is the objective of move (logistics) analytics?

  • Fulfill demand timely and cost efficiently
  • Improve service levels and reduce cost

Quiz 3: Make Analytics

Q1. What are the key performance indicators for production systems?

  • Production cost
  • Cycle Time
  • Quality or defects
  • Product variety

Q2. What is the objective of make analytics?

  • To increase the quality and reduce cost while meeting all customer demand
  • Manage machines, workforce & materials to meet the demand in the most productive way

Quiz 4: Source Analytics

Q1. What are the key performance indicators for sourcing and procurement?

  • Delivery lead time
  • Product quality
  • Purchasing cost
  • Flexibility in delivery

Q2. What is the objective of source analytics?

  • Maximize the value and minimize the risk of supply
  • To ensure consistent performance of suppliers
  • To track where the money is spent and with whom

Week 4: Supply Chain Analytics Essentials

Quiz 1: Supply Chain Analytics Jobs

Q1. What is needed to prepare for a supply chain analytics job?

  • Team leadership skills
  • Real life examples and / or projects
  • Data analytics skills
  • Application of analytics to supply chains
Supply Chain Analytics Essentials Course Review:

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Conclusion:

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This course is intended for audiences of all experiences who are interested in learning about new skills in a business context; there are no prerequisite courses.

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