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Managing Supply Chain Risk L5M2 paper *5.
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1.
Which of the following statements are true about the concept of ‘normal distribution’? Select the THREE that apply.
2.
Which of the following tools or methods does the organization use to identify and document risks that are likely to impact its operations?
3.
It is important to include the risk owner in a risk register when documenting an identified risk. Is this statement correct?
4.
Which of the following actions can an organization take to enhance its structural flexibility?
1. Asset sharing
2. Asset loaning
3. Rapid manufacturing
4. Inventory control
5.
Which of the following are globally recognized standards for effective risk management?
1. ISO 14001
2. ISO 31000
3. ISO 26000
4. ISO 28000
6.
Which of the following activities are essential for quality control to mitigate the risk of an organization providing low-quality products to its customers? Select the THREE that apply.
7.
Which of the following standards reflects an organization's commitment to a structured and systematic security management framework for its customers?
8.
Risk ownership within an organization must be assigned to...
1. A risk manager regardless of position or level
2. A senior level of management within the company structure
3. The individual that initially identified the risk
4. Individuals with the authority to take actions
9.
What is the reason an organization is required to externally report its risks in the corporate accounts?
1. Reporting risks on external accounts helps in improving supplier relationships
2. Reporting risks on external corporate accounts ensures a high level of transparency in
the organisation’s operations
3. Reporting risks on external corporate accounts attracts potential investors
4. Reporting risks on external corporate accounts ensure the organisation’s controls face
closer scrutiny
10.
Which of the following risk mitigation strategies can an organization implement?
1. Transfer
2. Translate
3. Transition
4. Tolerate
11.
Which of the following are key elements of supply chain business continuity planning?
1. Awareness
2. Prevention
3. Control
4. Measuring
12.
A loss that cannot be directly attributed to a specific risk event is known as which of the following?
13.
What steps should be taken to mitigate a risk that an organization cannot financially bear or manage?
14.
Which of the following represent strategic risks for an organization? Select the TWO that apply.
15.
Which of the following might contribute to a contract failure between the parties involved?
1. Changes within the contract not provided in the contract
2. Stringent contract terms
3. Period performance and contract management
4. Poor understanding of the implications of law
16.
Which of the following international standards guarantees that customers receive products and services that consistently meet their defined requirements?
17.
Which of the following principles guide ISO 31000? Select the THREE that apply.
18.
Which of the following risks are directly linked to a company's brand? Select TWO that apply.
1. Positioning
2. Reputation
3. Perception
4. Value
19.
Which of the following situations would qualify as an operational risk?
20.
The Sarbanes-Oxley regulations are mostly focused on:
1. Investor protection
2. Product quality
3. Clear commercial advertising
4. Corporate financial disclosure
21.
The Sarbanes-Oxley regulations primarily focus on
22.
An uncertain event or condition that, if it occurs, may affect one or more project objectives either positively or negatively, is known as:
23.
ManCo Inc, a global manufacturing company with a highly integrated supply chain and high data availability, is concerned about technological risk. Which of the following would be considered a technological risk for ManCo?
24.
A document used to record all identified risks is referred to as a:
25.
Product Manufacturing Group (PMG), a UK-based company, is now sourcing materials from Europe and is required to make payments in Euros. This marks its first exposure to Euro-denominated transactions. While it also has Euro receivables from selling products in European markets, which of the following options would be the most effective way for PMG to manage its exposure to Euro currency risk?
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