Supply Chain Management Exam 1 – Questions
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Terms in this set (100)
A supply chain... consists of the flow of products and services from:
Raw materials manufacturers
Component and intermediate manufacturers
Final product manufacturers
Wholesalers and distributors and
Retailers
Connected by transportation and storage activities,
and
Integrated through information, planning, and
integration activities
Today large firms are moving away Vertically
Integrated due to high cost and difficulty managing
diverse units
Traditional organizational cultures that emphasized short-term, company focused
performance can conflict with the objectives of
supply chain management.
Successful supply chain management requires high levels of trust, cooperation,
collaboration, and honest, accurate communications
All participants in the supply chain benefit.
Boundaries are dynamic and extend from "the firm's
suppliers' suppliers to its customers' customers (i.e.,
second tier suppliers and customers)."
Supply chains also include reverse logistics activities
to handle returned products, warranty repairs, and
recycling.
, Firms with large system inventories Lower purchasing & carrying costs
gain the most from successful SCM Better product quality
Higher customer service levels
Increased sales and profits
Firms using Supply Chain Start with key suppliers
Management: Move on to other suppliers, customers, and logistics
services
Integrate second tier suppliers and customers
(second tier refers to the customer's customers and
the supplier's suppliers)
Reduced Bullwhip Effect Defined as: Erratic demand forecasts causing excess
safety stocks, which cause production planning
problems.
SCM reduces safety stocks and costs due to
coordinated planning and better sharing of
information
1950s-1960s U.S. manufacturers focused on mass production
techniques as their principal cost reduction and
productivity improvement strategies
1960s-1970s Introduction of new computer technologies lead to
development of Materials Requirements Planning
(MRP) and Manufacturing Resource Planning (MRPII)
to coordinate inventory management and improve
internal communication
1980s-1990s Intense global competition led U.S. manufacturers to
adopt:
Supply Chain Management (SCM)
Just-In-Time (JIT)
Total Quality Management (TQM)
Business Process Reengineering (BPR)
Customer Relationship Management (CRM)
With Right Solutions
Save
Terms in this set (100)
A supply chain... consists of the flow of products and services from:
Raw materials manufacturers
Component and intermediate manufacturers
Final product manufacturers
Wholesalers and distributors and
Retailers
Connected by transportation and storage activities,
and
Integrated through information, planning, and
integration activities
Today large firms are moving away Vertically
Integrated due to high cost and difficulty managing
diverse units
Traditional organizational cultures that emphasized short-term, company focused
performance can conflict with the objectives of
supply chain management.
Successful supply chain management requires high levels of trust, cooperation,
collaboration, and honest, accurate communications
All participants in the supply chain benefit.
Boundaries are dynamic and extend from "the firm's
suppliers' suppliers to its customers' customers (i.e.,
second tier suppliers and customers)."
Supply chains also include reverse logistics activities
to handle returned products, warranty repairs, and
recycling.
, Firms with large system inventories Lower purchasing & carrying costs
gain the most from successful SCM Better product quality
Higher customer service levels
Increased sales and profits
Firms using Supply Chain Start with key suppliers
Management: Move on to other suppliers, customers, and logistics
services
Integrate second tier suppliers and customers
(second tier refers to the customer's customers and
the supplier's suppliers)
Reduced Bullwhip Effect Defined as: Erratic demand forecasts causing excess
safety stocks, which cause production planning
problems.
SCM reduces safety stocks and costs due to
coordinated planning and better sharing of
information
1950s-1960s U.S. manufacturers focused on mass production
techniques as their principal cost reduction and
productivity improvement strategies
1960s-1970s Introduction of new computer technologies lead to
development of Materials Requirements Planning
(MRP) and Manufacturing Resource Planning (MRPII)
to coordinate inventory management and improve
internal communication
1980s-1990s Intense global competition led U.S. manufacturers to
adopt:
Supply Chain Management (SCM)
Just-In-Time (JIT)
Total Quality Management (TQM)
Business Process Reengineering (BPR)
Customer Relationship Management (CRM)
