Free APICS CTSC Practice Exam with Questions & Answers | Set: 5

According to the CTSC Exam Content Manual, one of the key steps in the project selection process is to create a portfolio of projects that aligns with the organization’sstrategic objectives and balances the available resources. Selecting projects based on stand-alone benefits would ignore the interdependencies and trade-offs among different projects and lead to inefficiencies resulting from a lack of holistic visibility.

According to the CTSC Exam Content Manual, one of the entry criteria that must be met before initiating a supply chain transformation project is an implementation roadmap1.An implementation roadmap is a document that outlines the scope, objectives, activities, deliverables, milestones, resources, and risks of the transformation project1.An implementation roadmap helps to guide and monitor the execution of the project, as well as to communicate and align the expectations and responsibilities of the stakeholders1. The other options are not entry criteria that must be met before initiating a supply chain transformation project, as they are more related to the outcomes or the actions of the project.Network configuration modifications, information technology (IT) adjustment, and skills and resources changes are examples of the changes that may result from the supply chain transformation project, but they are not prerequisites for starting the project2.

Before the firm can negotiate or discuss data exchanges with the retailers, it should first review its own data needs and potential trading options. This means that the firm should identify what kind of retail sales data it requires, how frequently, and for what purpose. It should also assess the value and quality of the data, and the costs and benefits of obtaining it. Moreover, the firm should explore what kind of data it can offer in return to the retailers, and how it can create a mutually beneficial data exchange relationship. By reviewing its data needs and potential trading options, the firm can prepare a clear and realistic data exchange proposal that can facilitate the subsequent negotiation or discussion process.

1:Data Processing Agreements: Coordination, Drafting, and Negotiation

Supply chain risk management

Explore

the purpose of using value at risk (VAR) in supply chain risk management is to establish a common language to quantify supply chain risk in terms of currency.VAR is defined as "a statistical technique used to measure and quantify the level of financial risk within a firm or investment portfolio over a specific time frame"2.VAR can help to estimate the potential loss that a supply chain may face due to various sources of disruption, such as demand fluctuations, supplier failures, natural disasters, or cyberattacks13.By expressing supply chain risk in monetary terms, VAR can help to communicate the risk exposure to different stakeholders, compare the risk profiles of different supply chain scenarios, and allocate resources for risk mitigation13.VAR can also help to link supply chain risk management with corporate financial performance and strategy14.

Ac-cording to the CTSC Exam Content Manual, developing a supply chain leadership mindset involves creating a culture of innovation, learning, and collaboration across the organization. A supply chain leader should encourage cross-team collaboration to leverage the diverse skills, perspectives, and experiences of different stakeholders, and to foster trust, communication, and alignment of goals and objectives. Cross-team collaboration can help the organization to identify and solve problems, generate and implement new ideas, and improve performance and customer satisfaction.