WGU C720 Operations and Supply Chain
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Terms in this set (279)
supply chain encompasses all activities associated with the flow
and transfer of goods and services, from raw
material extraction through use by the final
consumer.
Logistics refers to the movement of supplies and materials
through the supply chain.
reverse logistics. When it is necessary to return defective products
to the manufacturer for repair or replacement, the
process is known as
reuse and recycle materials. Reverse logistics includes efforts to
backward vertical integration. One way to promote coordination is for a company
to own its suppliers. This is called
forward vertical integration. At the other end of the supply chain, a company
can own the distribution systems and retail
outlets that sell their products; this is
,Agile Members of such a supply chain are selected
based upon their speed and flexibility, and their
capacity to transmit information reliably, accurately,
and quickly from the marketplace to supply chain
members.
assess in great detail the needs of its An agile supply chain attempts to
customers so it can provide
customized products that better
meet the customer's' expectations.
Lean Members are chosen based upon their ability to
keep costs down and minimize inventory in the
system.
lean supply chain What type of supply chain would be used here:
These products have long product life cycles,
stable and predictable demand, and minimal
innovation. They are also often characterized by
low profit margins. For these products, the supply
chain must focus on operating efficiently to
minimize costs.
Vendor Managed Inventory (VMI) The vendor, or supplier, can better coordinate its
own production with the replenishment of supplier
inventory, thus reducing costs and improving
delivery performance between the supplier and
the retailer. To make this work, the suppliers receive
daily point-of-sale (POS) data from the retail stores,
and they also have access to retailer's inventory
files.
, market (demand), There are three primary constraints in a system:
process (throughput), and
product (supply).
Constraint Any resource whose capacity is less than or equal
to demand for that resource; a bottleneck is the
most limiting constraint on the system.
requires the longest time or has the A bottleneck (or constraint) in a supply chain
slowest rate - a process bottleneck. occurs at the point in the process that
regulatory Types of bottlenecks:
labor
technology
decision-making
physical
process
financial
Strategic alliances form within first-tier and second-tier supplier
networks. This occurs as a collaborative effort
because all parties need to invest time, capital, and
talent to become aligned.
Safety Stock Company L has a difficult time keeping inventory
on key items they use for production. Which
strategy is most appropriate for Company L to
keep inventory in stock?
Vendor Managed Inventory What has been established between Walmart and
Proctor & Gamble (P&G) to ensure that Walmart is
consistently stocked with P&G products?
Management Exam | Questions and Answers |
Verified Solutions | 2026 Edition | Pass
Guaranteed
Save
Terms in this set (279)
supply chain encompasses all activities associated with the flow
and transfer of goods and services, from raw
material extraction through use by the final
consumer.
Logistics refers to the movement of supplies and materials
through the supply chain.
reverse logistics. When it is necessary to return defective products
to the manufacturer for repair or replacement, the
process is known as
reuse and recycle materials. Reverse logistics includes efforts to
backward vertical integration. One way to promote coordination is for a company
to own its suppliers. This is called
forward vertical integration. At the other end of the supply chain, a company
can own the distribution systems and retail
outlets that sell their products; this is
,Agile Members of such a supply chain are selected
based upon their speed and flexibility, and their
capacity to transmit information reliably, accurately,
and quickly from the marketplace to supply chain
members.
assess in great detail the needs of its An agile supply chain attempts to
customers so it can provide
customized products that better
meet the customer's' expectations.
Lean Members are chosen based upon their ability to
keep costs down and minimize inventory in the
system.
lean supply chain What type of supply chain would be used here:
These products have long product life cycles,
stable and predictable demand, and minimal
innovation. They are also often characterized by
low profit margins. For these products, the supply
chain must focus on operating efficiently to
minimize costs.
Vendor Managed Inventory (VMI) The vendor, or supplier, can better coordinate its
own production with the replenishment of supplier
inventory, thus reducing costs and improving
delivery performance between the supplier and
the retailer. To make this work, the suppliers receive
daily point-of-sale (POS) data from the retail stores,
and they also have access to retailer's inventory
files.
, market (demand), There are three primary constraints in a system:
process (throughput), and
product (supply).
Constraint Any resource whose capacity is less than or equal
to demand for that resource; a bottleneck is the
most limiting constraint on the system.
requires the longest time or has the A bottleneck (or constraint) in a supply chain
slowest rate - a process bottleneck. occurs at the point in the process that
regulatory Types of bottlenecks:
labor
technology
decision-making
physical
process
financial
Strategic alliances form within first-tier and second-tier supplier
networks. This occurs as a collaborative effort
because all parties need to invest time, capital, and
talent to become aligned.
Safety Stock Company L has a difficult time keeping inventory
on key items they use for production. Which
strategy is most appropriate for Company L to
keep inventory in stock?
Vendor Managed Inventory What has been established between Walmart and
Proctor & Gamble (P&G) to ensure that Walmart is
consistently stocked with P&G products?
