SCMN 2150 Exam 1 QUESTIONS & ANSWERS | A+ GRADED 100% VERIFIED

SCMN 2150 Exam 1 QUESTIONS &
ANSWERS | A+ GRADED 100%
VERIFIED

• Who is involved in SCM -✓✓-supplier
-manufacturer
-distributor
-retailer
-consumer

• Three Flows -✓✓-product
-information
-money

• Essential Procesess in SCM -✓✓-planning & forecasting
-supply management & procurement
-operations management & production
-logistics & transportation
-post sales support

• Why do companies care about SCM? -✓✓creates advantages allowing
them to manage their materials, products & information better, faster, &
cheaper

• What utilities does SCM create for customers? -✓✓time utility, place
utility, form utility

• Seven Rights of SCM -✓✓-right product
-right customer
-right time
-right place

, -right condition
-right quantity
-right cost

• Who is the most important participant in SCM? -✓✓the consumer

• Three companies with great supply chains -✓✓amazon, walmart,
mcdonalds

• Order of SCM -✓✓tier 2 supplier-> tier 1 supplier-> manufacturing->
finished goods warehouse-> retail store-> customer

• Definition of SCM -✓✓all the activities that take place to get a product
in your hands

• Key goals of SCM -✓✓customer care, competitiveness, efficiency,
responsiveness, & resiliency

• Challenges of SCM -✓✓-product life cycles are shrinking
-customers are demanding customized products
-competition is intensifying
-companies need to be much more efficient

• Seven Principles of SCM -✓✓1. segment customers based on service
needs
2. customize the logistics network
3. drive operations from demand
4. differentiate product closer to the customer
5. source strategically
6. develop supply chain wide technology strategy
7. use supply chain spanning performance measures