SCM - Exam 1 Rutgers with accurate detailed answers

2



SCM - Exam 1 Rutgers with accurate detailed answers
|| || || || || || || ||




Any organization offering a product or a service has a - ✔✔supply chain
|| || || || || || || || || || || ||




Products and services need suppliers, manufacturers, and customers - ✔✔make up supply
|| || || || || || || || || || || ||




chain



Nodes or links in the supply chain are connected by - ✔✔warehousing and transporation
|| || || || || || || || || || || || ||




Facility that allows a company to store materials and finished products. - ✔✔Warehouse
|| || || || || || || || || || || ||




Function that allows a company to receive, store, withdraw, package, and ship items to a
|| || || || || || || || || || || || || || ||




manufacturing location, or finished products to a customer - ✔✔Warehousing
|| || || || || || || || ||




Intermodal - ✔✔using a combination of any of the other modes of transportation for a
|| || || || || || || || || || || || || || ||




single shipment.
||




Supply Chain Management - ✔✔- Starts with understanding the flow
|| || || || || || || || ||




- Integrates all partners within the end-to-end supply chain
|| || || || || || || ||




- Is conducted thru defined processes
|| || || || ||




Information Flow and Product & Service Flow in both directions where as payment and
|| || || || || || || || || || || || || ||




return flow - ✔✔run in one direction, backwards
|| || || || || || ||




The service supply chain is much more about managing the relationships between the
|| || || || || || || || || || || || ||




trading partners than it is about managing the chain of supply - ✔✔True
|| || || || || || || || || || || ||

, 2


The goal of Supply Chain Management is to - ✔✔Increase customer service while
|| || || || || || || || || || || || ||




simultaneously reducing both inventory investment and operating expenses
|| || || || || || ||




the two main reasons that firms implement Supply Chain Management are to - ✔✔achieve
|| || || || || || || || || || || || || ||




cost savings and better coordinate resources
|| || || || ||




includes the determination of marketing and distribution channels, promotions, quantities,
|| || || || || || || || || ||




timing, inventory and replenishment policies, and production policies. - ✔✔Planning
|| || || || || || || || ||




the process of identifying the suppliers that provide the materials and services needed for
|| || || || || || || || || || || || || ||




the supply chain to deliver the finished product(s) desired by the customer(s). - ✔✔Sourcing
|| || || || || || || || || || || || ||




is the series of operations performed to convert materials into a finished product. -
|| || || || || || || || || || || || || ||




✔✔Manufacturing



this is the part of supply chain management that oversees the planning and execution of
|| || || || || || || || || || || || || || ||




the forward flow of goods and related information between various points in the supply
|| || || || || || || || || || || || || ||




chain to meet customer requirements. - ✔✔Logistics
|| || || || || ||




this is the part of supply chain management that deals with planning and controlling the
|| || || || || || || || || || || || || || ||




process of moving goods specifically from the point of consumption back to the point of
|| || || || || || || || || || || || || || ||




origin for repair, reclamation, remanufacture, recycling, or disposal. - ✔✔Reverse Logistics
|| || || || || || || || || ||




Material Requirements Planning (MRP) - ✔✔is a method of determining what materials are
|| || || || || || || || || || || || ||




needed and when they are needed to support the production plan.
|| || || || || || || || || ||




Manufacturing Resource Planning (MRP II) - ✔✔helps to improve internal communication
|| || || || || || || || || || ||




and operations.
||