BMGT 372 UMD EXAM 1 || GET IT CORRECT.
Supply Chain Management correct answers the design and management of flows of products,
information, and funds (3 primary flows) throughout the supply chain
Supply Chain stages correct answers suppliers, producers, wholesalers/distributors, retailers,
customers
3 SCM activities correct answers coordination, information sharing, collaboration
Coordination correct answers coordinate the movement of goods, services, and funds through the
supply chain
information sharing correct answers share forecasts, point-of-sale data, planned promotional
campaigns, and inventory levels
collaboration correct answers jointly plan, operate, and execute business decisions as one entity
flow of products correct answers from the beginning to the final customer
reverse logistics correct answers returned products (final customer back to producer)
flow of information correct answers simplified supply chains utilize data from point-of-sale back
to suppliers
Flow of Funds correct answers Funds transferred in both directions along the supply chain
GOAL OF SCM correct answers reduce the cost of doing business, improve customer service
, bullwhip effect correct answers the fluctuation and distortion of information increases as it
moves up the supply chain
_______ are the driving force of the SC correct answers customers
Service Supply Chain correct answers Focus more on the interaction between the customer and
the provider
Often rely on customers as the supplier of inputs (ex: ordering at a restaurant)
Tend to be shorter than manufacturing supply chains
Intra- organizational coordination correct answers marketing, operations, sourcing, logistics
Logistics correct answers the part of the SCM that is concerned with managing the flow of
inventory, focused on just transporting goods
Characteristics of a competitive supply chain correct answers responsiveness, reliability,
relationship management
Supply Chain Strategy correct answers a long-range plan for the design and ongoing
management of all supply chain decisions that support the business strategy
Business strategy correct answers a plan for the company that clearly defines the company's
long-term goals, how it plans to achieve these goals, and the way the company plans to
differentiate itself from its competitors
Cost-Productivity Advantage correct answers advantage comes from offering the lowest cost
product or service
economies of scale correct answers enable the company to spread its fixed costs over a greater
volume (buying in bulk)
Supply Chain Management correct answers the design and management of flows of products,
information, and funds (3 primary flows) throughout the supply chain
Supply Chain stages correct answers suppliers, producers, wholesalers/distributors, retailers,
customers
3 SCM activities correct answers coordination, information sharing, collaboration
Coordination correct answers coordinate the movement of goods, services, and funds through the
supply chain
information sharing correct answers share forecasts, point-of-sale data, planned promotional
campaigns, and inventory levels
collaboration correct answers jointly plan, operate, and execute business decisions as one entity
flow of products correct answers from the beginning to the final customer
reverse logistics correct answers returned products (final customer back to producer)
flow of information correct answers simplified supply chains utilize data from point-of-sale back
to suppliers
Flow of Funds correct answers Funds transferred in both directions along the supply chain
GOAL OF SCM correct answers reduce the cost of doing business, improve customer service
, bullwhip effect correct answers the fluctuation and distortion of information increases as it
moves up the supply chain
_______ are the driving force of the SC correct answers customers
Service Supply Chain correct answers Focus more on the interaction between the customer and
the provider
Often rely on customers as the supplier of inputs (ex: ordering at a restaurant)
Tend to be shorter than manufacturing supply chains
Intra- organizational coordination correct answers marketing, operations, sourcing, logistics
Logistics correct answers the part of the SCM that is concerned with managing the flow of
inventory, focused on just transporting goods
Characteristics of a competitive supply chain correct answers responsiveness, reliability,
relationship management
Supply Chain Strategy correct answers a long-range plan for the design and ongoing
management of all supply chain decisions that support the business strategy
Business strategy correct answers a plan for the company that clearly defines the company's
long-term goals, how it plans to achieve these goals, and the way the company plans to
differentiate itself from its competitors
Cost-Productivity Advantage correct answers advantage comes from offering the lowest cost
product or service
economies of scale correct answers enable the company to spread its fixed costs over a greater
volume (buying in bulk)
