CORRECT aNSWERS (vERiFiED) | laTEST uPDaTE 2026/2027 | GRaDED a+ |
BRaND NEW | 100% GuaRaNTEED PaSS
Supply Chain Management - ANSWER-The effective and efficient integration of the suppliers,
manufacturers, transportation organizations and the other parties responsible for collectively
bringing final products and services
procurement - ANSWER-· Branch responsible for obtaining materials, equipment, products, and
services with organizational regulations.
· Consists of finding suppliers, choosing the supplier that offers the best value, negotiating terms
of the purchase, placing orders, and developing long-term relationships with suppliers
logistics - ANSWER-· Branch responsible for developing the transportation itinerary and finding
the appropriate transportation and storage partners to successfully navigate the flow of
materials from the point of origin to the final destination
· Logistics managers find trucking companies, package the item, find distributors, organize
documentation, rent standardized containers
operations - ANSWER-· Branch responsible for making business processes effective and
efficient. In essence, operations seek to help the organization create high quality products
and/or services using the fewest resources possible.
operations-what they do - ANSWER-Oversee design, operations, and improvement of
production
· Companies want to make these items quickly, with as few workers and machines as possible,
using the least amount of energy, cheapest real estate, and right before the customer needs
them.
reverse logistics - ANSWER-· Flow backward in the supply chain, away from the consumer and
back in the direction of manufacturers (upstream)
· Important segment of the logistics branch. Reminder of how important it is to be accurate.
,Global Supply Chain - ANSWER-· When suppliers, manufacturers, transportation companies,
warehouse and distribution centers, retailers, and other supply chain partners span across
multiple countries and/or continents, those are considered global supply chains.
advantages of global SCM - ANSWER-proximity, labor costs, etc.
challenges of global SCM - ANSWER-distance, culture, laws, time zones, etc.
1st Tier Supplier - ANSWER-· A company's direct suppliers
· A firm that directly provides goods and/or services to a company (left)
2nd tier suppliers - ANSWER-· Firm that provides goods and/or services to a company's first-tier
supplier (right)
· Weak 2nd tier suppliers creates problems for 1st tier supplier
downstream supply chain - ANSWER-· Direction that points toward the end consumer (right)
Downstream activities - ANSWER-include: delivering goods from a manufacturer to a
distributer, suppliers working to get parts prepared in time for manufacturers, distributors
developing relationships with retailers so they can better understand the retailer's supply chain
needs
Upstream Supply Chain - ANSWER-· Direction that points toward the suppliers (left)
Executives that works in upstream supply chain management might be responsible for -
ANSWER-: ensuring that empty boxes at the retail level are returned to the distributor for reuse,
developing relationships with a company's 1st tier suppliers in order to better communicate the
needs of the present and the future
In order for supply chains to function and develop, three things must continuously flow -
ANSWER-o Materials
o Money
o Information
§ If materials stop flowing, nothing will be made
§ If money stops flowing, companies can't buy things
, § If info stops flowing, poor decisions will be made
business model - ANSWER-· Companies plan or purchasing items, transforming them, delivering
them, and selling them for profit
· EX: Amazon VS. Bookstore (Same company, different business model...2 obvious differences
are purchase and delivery)
· Things to think about are....
o Do we sell to companies or individuals?
o Online, in store, or both?
o Individual purchase or subscribe?
o Main parts or disposable parts? (Razor vs. blades)
supply chain visibility - ANSWER-· Ability to see what is happening with inventory upstream and
downstream
· EX: knowing where shipment is, how many is in shipment, and when it will arrive.
· Helpful in making good supply chain decisions
profit - ANSWER-· Revenue - Cost
· Important supply chain costs: materials, labor, energy, transportation, packaging, storage,
defects, insurance
ROI - ANSWER-= total profit / total investment
competitive priorities - ANSWER-· Cost
· Quality
· Speed
· Flexibility
core competencies - ANSWER-· The primary advantage a company has over its competitors
· Difficult, or impossible, to replicate
· A company with a core competency has a better: product design, sole access to a world-class
supplier, a culture of happy and motivated employees that are friendly to customers, or perhaps
a well-respected brand name