LUKOFF SCM 301 EXAM 4 PSU QUESTIONS & ANSWERS
1. Ultimate goal of supply chain management is to: Create value for the services and goods
provided to end customers.
2. Process Integration: Sharing information and coordinating resources to jointly manage a process or
processes.
3. What does it mean to use trusted suppliers?: To engage with suppliers that provide a large
share of the firm's critical products and services.
4. What is the benefit of identifying primary trading partners?: Allows the firm to
concentrate its time and resources on managing important process links with these companies.
5. What should firms do with the network of primary trading partners?: Firms should map the
network of primary trading partners
6. What is the advantage of identifying only the first-tier primary trading part- ners?: identifying
only the first-tier primary trading partners allows the firm to concentrate its time and resources on managing important
process links with these companies, enabling the overall supply chain to perform better.
7. What should management do on an annual basis regarding SC strategies and
trading partners: On an annual basis, management should identify basic SC (Supply Chain) strategies
associated with each trading partner. This is to ensure that those strategies are consistent with the ones in the firm.
8. Functional Silos: Departments whose only concern is about itself; may attect the integration of processes in
supply chain management.
9. Key Processes in SC Management: These are the methods used to manage process links and they
can vary among supply chain partners.
10. Eight key processes identified as important in supply chains: Customer relationship
management
Customer service
management
Demand
1/9
, management
Order fulfillment
Manufacturing flow
management Supplier
relationship management
Product development and
commercialization Returns management
11. Continuous Performance Measurement: Performance should be continuously measured using
metrics designed for each process.
2/9
1. Ultimate goal of supply chain management is to: Create value for the services and goods
provided to end customers.
2. Process Integration: Sharing information and coordinating resources to jointly manage a process or
processes.
3. What does it mean to use trusted suppliers?: To engage with suppliers that provide a large
share of the firm's critical products and services.
4. What is the benefit of identifying primary trading partners?: Allows the firm to
concentrate its time and resources on managing important process links with these companies.
5. What should firms do with the network of primary trading partners?: Firms should map the
network of primary trading partners
6. What is the advantage of identifying only the first-tier primary trading part- ners?: identifying
only the first-tier primary trading partners allows the firm to concentrate its time and resources on managing important
process links with these companies, enabling the overall supply chain to perform better.
7. What should management do on an annual basis regarding SC strategies and
trading partners: On an annual basis, management should identify basic SC (Supply Chain) strategies
associated with each trading partner. This is to ensure that those strategies are consistent with the ones in the firm.
8. Functional Silos: Departments whose only concern is about itself; may attect the integration of processes in
supply chain management.
9. Key Processes in SC Management: These are the methods used to manage process links and they
can vary among supply chain partners.
10. Eight key processes identified as important in supply chains: Customer relationship
management
Customer service
management
Demand
1/9
, management
Order fulfillment
Manufacturing flow
management Supplier
relationship management
Product development and
commercialization Returns management
11. Continuous Performance Measurement: Performance should be continuously measured using
metrics designed for each process.
2/9
