Supply Chain Management Exam 1 Study Guide –
Questions & Correct Answers
Save
Terms in this set (87)
What is Supply Chain? It is the coordination of the network of the otherwise
independent trading partners who are creating a
desired product or service and then moving it
through the supply chain out to customers, when and
where the customer wants it
The value of supply chain Creates value by managing the process of all those
management independent trading partners so that they can
collaborate with one another in an efficient,
effective, and cost conscious way
The goals of supply chain 1.) Increase Customer Service: Getting the products
management and services that customers want to them, when and
where they want them at the lowest possible cost
2.) Reducing Inventory and Operating Expense:
Achieving the first goal while keeping your inventory
as low as possible and also keeping your costs as
low as possible
,Supply Chain in the Service Industry -Service firms offer intangible products, meaning
products cannot be touched.
-What customers are actually paying for is the labor
and the intellectual property of the service provider
-Customer are also much more directly involved in
the delivery of services than they are in supply of
physical product
- While the service itself is not tangible, it frequently
involves work on a tangible item provided by
customer
Companies today are focused on False
vertical integration encompassing the
ownership and coordination of all
supply chain activities while also
outsourcing their core competencies
T or F
Just-in-Time is a philosophy of True
manufacturing based on the planned
elimination of all waste and
continuous productivity improvement.
T or F
What are the two basic Supply Chain Efficient Model and Responsive Model
Capability Models?
The Supply Chain Capability Model False
designed to minimize cost is known as
the Responsive model.
T or F
, The business model that consists of Make-to-stock
producing finished products on the
basis of anticipated demand is?
Make-to-Stock
Assemble-to-Order
Just-in-Time
Make-to-Order
Strategic partnerships are seen as one True
of the foundations of supply chain
management
T or F
Service firms offer intangible products False
(meaning products that cannot be
physically touched), therefore, they do
not have a supply chain.
T or F
A supply chain consists of . . . ? Suppliers, Manufacturers, and Customers facilitated
through the use of Logistics
-Suppliers and Customers
-Product flow and Payment flow
-Suppliers, Manufacturers, and
Customers
-Suppliers, Manufacturers, and
Customers facilitated through the use
of Logistics
Questions & Correct Answers
Save
Terms in this set (87)
What is Supply Chain? It is the coordination of the network of the otherwise
independent trading partners who are creating a
desired product or service and then moving it
through the supply chain out to customers, when and
where the customer wants it
The value of supply chain Creates value by managing the process of all those
management independent trading partners so that they can
collaborate with one another in an efficient,
effective, and cost conscious way
The goals of supply chain 1.) Increase Customer Service: Getting the products
management and services that customers want to them, when and
where they want them at the lowest possible cost
2.) Reducing Inventory and Operating Expense:
Achieving the first goal while keeping your inventory
as low as possible and also keeping your costs as
low as possible
,Supply Chain in the Service Industry -Service firms offer intangible products, meaning
products cannot be touched.
-What customers are actually paying for is the labor
and the intellectual property of the service provider
-Customer are also much more directly involved in
the delivery of services than they are in supply of
physical product
- While the service itself is not tangible, it frequently
involves work on a tangible item provided by
customer
Companies today are focused on False
vertical integration encompassing the
ownership and coordination of all
supply chain activities while also
outsourcing their core competencies
T or F
Just-in-Time is a philosophy of True
manufacturing based on the planned
elimination of all waste and
continuous productivity improvement.
T or F
What are the two basic Supply Chain Efficient Model and Responsive Model
Capability Models?
The Supply Chain Capability Model False
designed to minimize cost is known as
the Responsive model.
T or F
, The business model that consists of Make-to-stock
producing finished products on the
basis of anticipated demand is?
Make-to-Stock
Assemble-to-Order
Just-in-Time
Make-to-Order
Strategic partnerships are seen as one True
of the foundations of supply chain
management
T or F
Service firms offer intangible products False
(meaning products that cannot be
physically touched), therefore, they do
not have a supply chain.
T or F
A supply chain consists of . . . ? Suppliers, Manufacturers, and Customers facilitated
through the use of Logistics
-Suppliers and Customers
-Product flow and Payment flow
-Suppliers, Manufacturers, and
Customers
-Suppliers, Manufacturers, and
Customers facilitated through the use
of Logistics
