QUESTIONS AND ANSWERS SURE A+
✔✔Logistics - ✔✔Managing the movement of materials, components, and information
from point to point in the supply chain
✔✔Supply Chain Management - ✔✔Taking actions to have all members of the supply
chain work together to coordinate their activities and share information
✔✔Reverse Logistics - ✔✔When it is necessary to return defective products to the
manufacturer for repair or replacement
✔✔Insourcing - ✔✔Goods and services that are provided by the organization
✔✔Outsource - ✔✔Goods and services obtained by outside suppliers
✔✔Backward Vertical Integration - ✔✔When a company owns its suppliers
✔✔SCOR Model - ✔✔Offers framework of processes and metrics to help companies
monitor and control the performance of their supply chains
✔✔Lean Supply Chain - ✔✔The company would plan to decrease days of supply
, ✔✔Constraint - ✔✔Any resource whose capacity is less than or equal to demand for
that resource
✔✔Bottleneck - ✔✔Most limiting constraint on the system
✔✔Most likely bottleneck to impact a lean supply chain - ✔✔Product
✔✔Operations Management - ✔✔The transformation of customer expectations into
products or services
✔✔Quality - ✔✔The capacity to satisfy customers' needs
✔✔Quality Function Deployment - ✔✔Takes customer expectations and transforms
them into specific actions designed to meet those expectations
✔✔5 Dimensions of Service Quality - ✔✔Reliability, Responsiveness, Assurance,
Empathy, Tangibles
✔✔Competitive Advantage - ✔✔A capability that customers value, such as short
delivery lead-time or high product quality that gives an organization an edge against its
competition
✔✔Product Development - ✔✔A teamwork-oriented process that begins with the
organization's strategy and analysis of the markets as inputs
✔✔Order Fulfillment - ✔✔Obtains customers' orders, enters them into the organization's
information system, and finally delivers the order to satisfy customers
✔✔SWOT Analysis - ✔✔A simple but useful technique for analyzing an organization's
strengths and weaknesses and the opportunities and threats that it faces
✔✔Strengths - ✔✔These are the characteristics of a business or project that lend an
advantage within the scope of the study
✔✔Weaknesses - ✔✔These characteristics of a business or project result in a
disadvantage, relative to others
✔✔Opportunities - ✔✔These are elements that the project could exploit to its advantage
✔✔Threats - ✔✔These elements in the competitive environment could create trouble for
the business or project
✔✔Failure Costs - ✔✔Incurred whenever any product or component of a product fails to
meet requirements