MKTG 372 EXAM 1 STUDY GUIDE 2026
Supply Chain - Answers -Consists of all parties involved, directly or indirectly, in
fulfilling a customer request. Constant flow of information, product, and funds among
different stages.
Supply Chain Stages - Answers -1) Customers 2) Retailers 3) Wholesalers/distributors
4) Manufacturers 5) Component/raw material suppliers
Value - Answers -The difference between what the value of the final product is to the
customer and the costs the entire supply chain incurs in filling the customer's request
Supply Chain Surplus = - Answers -Customer value - Supply chain cost
Supply Chain Management - Answers -The management of supply chain assets and
product, information, and fund flows to grow the total supply chain surplus.
Logistics Management - Answers -Management that plans, implements, and controls
the efficient, effective forward and reverse flow and storage of goods, services and
related information between the point of origin and the point of consumption in order to
meet customers' requirements.
Decision Phases in a Supply Chain - Answers -1) Supply chain strategy or design
2) Supply chain planning
3) Supply chain operation
Supply Chain Strategy or Design - Answers -A company decides how to structure the
supply chain over the next several years; made for the long term and can be expensive
to alter on short notice
Supply Chain Planning - Answers -The goal is to maximize the supply chain surplus
that can be generated; the time frame is considered a quarter to a year and is short
term
Supply Chain Operation - Answers -Companies make decisions regarding individual
customer orders; the time frame is weekly or daily
Cycle View - Answers -The processes in a supply chain are divided into a series of
cycles, each performed at the interface between two successive stages of the supply
chain.
Push/Pull View - Answers -The processes in a supply chain are divided into two
categories depending on whether they are executed in response to a customer order
(reactive) or in anticipation of customer orders (speculative).
, Cycle View Processes - Answers -Customer Order Cycle
Replenishment Cycle
Manufacturing Cycle
Procurement Cycle
Supply Chain Operations Reference (SCOR) Model - Answers -Provides a description
of supply chain processes, a framework for relationships between these processes, and
a set of metrics to measure process performance.
Customer Relationship Management (CRM) - Answers -All processes at the interface
between the firm and its customers (market, price, sell, call center, order management).
Internal Supply Chain Management (ISCM) - Answers -All processes that are internal
to the firm (strategic planning, demand planning, supply planning, fulfillment, field
service).
Supplier Relationship Management (SRM) - Answers -All processes at the interface
between the firm and its suppliers (source, negotiate, buy, design collaboration, supply
collaboration).
Competitive Strategy - Answers -The set of customer needs that a company seeks to
satisfy through its products and services relative to other companies.
The Value Chain - Answers -1) New product development 2) Marketing and sales 3)
Operations 4) Distribution 5) Service
Product Development Strategy - Answers -Specifies the portfolio of new products that a
company will try to develop and if the effort will be made internally or outsourced.
Marketing and Sales Strategy - Answers -Specifies how the market will be segmented
and how the product will be positioned, priced, and promoted.
Supply Chain Strategy - Answers -Determines the nature of procurement of raw
materials, transportation of aerials to and from the company, manufacture of the product
or operation to provide the service, and distribution of the product to the customer,
along with any follow-up service and a specification of whether these processes will be
performed in-house or outsourced.
Strategic Fit - Answers -Requires that both the competitive and supply chain strategies
of a company have aligned goals.
Steps to Achieving Strategic Fit - Answers -1) Understanding the customer and supply
chain uncertainty
2) Understanding the supply chain capabilities
3) Achieving strategic fit
Supply Chain - Answers -Consists of all parties involved, directly or indirectly, in
fulfilling a customer request. Constant flow of information, product, and funds among
different stages.
Supply Chain Stages - Answers -1) Customers 2) Retailers 3) Wholesalers/distributors
4) Manufacturers 5) Component/raw material suppliers
Value - Answers -The difference between what the value of the final product is to the
customer and the costs the entire supply chain incurs in filling the customer's request
Supply Chain Surplus = - Answers -Customer value - Supply chain cost
Supply Chain Management - Answers -The management of supply chain assets and
product, information, and fund flows to grow the total supply chain surplus.
Logistics Management - Answers -Management that plans, implements, and controls
the efficient, effective forward and reverse flow and storage of goods, services and
related information between the point of origin and the point of consumption in order to
meet customers' requirements.
Decision Phases in a Supply Chain - Answers -1) Supply chain strategy or design
2) Supply chain planning
3) Supply chain operation
Supply Chain Strategy or Design - Answers -A company decides how to structure the
supply chain over the next several years; made for the long term and can be expensive
to alter on short notice
Supply Chain Planning - Answers -The goal is to maximize the supply chain surplus
that can be generated; the time frame is considered a quarter to a year and is short
term
Supply Chain Operation - Answers -Companies make decisions regarding individual
customer orders; the time frame is weekly or daily
Cycle View - Answers -The processes in a supply chain are divided into a series of
cycles, each performed at the interface between two successive stages of the supply
chain.
Push/Pull View - Answers -The processes in a supply chain are divided into two
categories depending on whether they are executed in response to a customer order
(reactive) or in anticipation of customer orders (speculative).
, Cycle View Processes - Answers -Customer Order Cycle
Replenishment Cycle
Manufacturing Cycle
Procurement Cycle
Supply Chain Operations Reference (SCOR) Model - Answers -Provides a description
of supply chain processes, a framework for relationships between these processes, and
a set of metrics to measure process performance.
Customer Relationship Management (CRM) - Answers -All processes at the interface
between the firm and its customers (market, price, sell, call center, order management).
Internal Supply Chain Management (ISCM) - Answers -All processes that are internal
to the firm (strategic planning, demand planning, supply planning, fulfillment, field
service).
Supplier Relationship Management (SRM) - Answers -All processes at the interface
between the firm and its suppliers (source, negotiate, buy, design collaboration, supply
collaboration).
Competitive Strategy - Answers -The set of customer needs that a company seeks to
satisfy through its products and services relative to other companies.
The Value Chain - Answers -1) New product development 2) Marketing and sales 3)
Operations 4) Distribution 5) Service
Product Development Strategy - Answers -Specifies the portfolio of new products that a
company will try to develop and if the effort will be made internally or outsourced.
Marketing and Sales Strategy - Answers -Specifies how the market will be segmented
and how the product will be positioned, priced, and promoted.
Supply Chain Strategy - Answers -Determines the nature of procurement of raw
materials, transportation of aerials to and from the company, manufacture of the product
or operation to provide the service, and distribution of the product to the customer,
along with any follow-up service and a specification of whether these processes will be
performed in-house or outsourced.
Strategic Fit - Answers -Requires that both the competitive and supply chain strategies
of a company have aligned goals.
Steps to Achieving Strategic Fit - Answers -1) Understanding the customer and supply
chain uncertainty
2) Understanding the supply chain capabilities
3) Achieving strategic fit
