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.
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?
- 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?
- Customer satisfaction
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
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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.