SCM 300 Exam 1 Study Guide
Supply Chain Management (SCM) - CORRECT ANSWER-The management of
information flows between and among activities in a supply chain to maximize
total supply chain effectiveness and profitability
procurement - CORRECT ANSWER-Purchases inputs such as raw materials,
resources, equipment, and supplies
Operations - CORRECT ANSWER-Transforms raw materials or inputs into goods
and services
Logistics - CORRECT ANSWER-Those activities that focus on getting the right
amount of the right products to the right place at the right time at the lowest
possible cost
Reverse Logistics - CORRECT ANSWER-A process of reclaiming recyclable and
reusable materials, returns, and reworks from the point of consumption or use for
repair, remanufacturing, redistribution, or disposal
Global SCM - CORRECT ANSWER-The distribution of goods and services
throughout a trans-national company
1st Tier Supplier - CORRECT ANSWER-Companies direct supplier
2nd Tier Supplier - CORRECT ANSWER-A firm that provides goods and/or
services to a company's first-tier supplier.
Upstream vs. Downstream - CORRECT ANSWER--Upstream: the direction that
points toward the suppliers.
-Downstream: the direction that points toward the end consumer
Three SCM Flows - CORRECT ANSWER-Materials, Money, and Information
, Business Model - CORRECT ANSWER-Outlines the need the firm will fill, the
operations of the business, its components and functions, as well as the
expected revenues and expenses
Business Model - Basic Types - CORRECT ANSWER-
Supply Chain Visibility - CORRECT ANSWER-The ability of all organizations in a
supply chain to access or view relevant data on purchased materials as these
materials move through their suppliers' production processes.
Profit and ROI's relationship to SCM - CORRECT ANSWER--Profit: SC plays a
role in controlling types of costs that ensure manufacturing and delivery, which
can increase profit.
-ROI: SC seek to help maximize ROI, by creating great products and delivering
them quickly, customers may be willing to pay more.
Stakeholders - CORRECT ANSWER-All the people who stand to gain or lose by
the policies and activities of a business and whose concerns the business needs
to address.
Competitive Priorities - CORRECT ANSWER-Cost, Quality, Time/Speed,
Flexibility
Core Competencies - CORRECT ANSWER-Things a company does extremely
well, which sometimes give it an advantage over its competition
Productivity vs. Value - CORRECT ANSWER--Productivity: maximize the amount
of outputs that can be produced and delivered to market while minimizing the
required inputs.
-Value: ratio of "output purchased"/ "inputs used to purchase"
Primary Supply Chain Goals - CORRECT ANSWER-Sustainable long term
profits and/or Maximize return on investment
Seven Types of Waste - CORRECT ANSWER-(1) Defects: poorly manufactured
products are garbage
Supply Chain Management (SCM) - CORRECT ANSWER-The management of
information flows between and among activities in a supply chain to maximize
total supply chain effectiveness and profitability
procurement - CORRECT ANSWER-Purchases inputs such as raw materials,
resources, equipment, and supplies
Operations - CORRECT ANSWER-Transforms raw materials or inputs into goods
and services
Logistics - CORRECT ANSWER-Those activities that focus on getting the right
amount of the right products to the right place at the right time at the lowest
possible cost
Reverse Logistics - CORRECT ANSWER-A process of reclaiming recyclable and
reusable materials, returns, and reworks from the point of consumption or use for
repair, remanufacturing, redistribution, or disposal
Global SCM - CORRECT ANSWER-The distribution of goods and services
throughout a trans-national company
1st Tier Supplier - CORRECT ANSWER-Companies direct supplier
2nd Tier Supplier - CORRECT ANSWER-A firm that provides goods and/or
services to a company's first-tier supplier.
Upstream vs. Downstream - CORRECT ANSWER--Upstream: the direction that
points toward the suppliers.
-Downstream: the direction that points toward the end consumer
Three SCM Flows - CORRECT ANSWER-Materials, Money, and Information
, Business Model - CORRECT ANSWER-Outlines the need the firm will fill, the
operations of the business, its components and functions, as well as the
expected revenues and expenses
Business Model - Basic Types - CORRECT ANSWER-
Supply Chain Visibility - CORRECT ANSWER-The ability of all organizations in a
supply chain to access or view relevant data on purchased materials as these
materials move through their suppliers' production processes.
Profit and ROI's relationship to SCM - CORRECT ANSWER--Profit: SC plays a
role in controlling types of costs that ensure manufacturing and delivery, which
can increase profit.
-ROI: SC seek to help maximize ROI, by creating great products and delivering
them quickly, customers may be willing to pay more.
Stakeholders - CORRECT ANSWER-All the people who stand to gain or lose by
the policies and activities of a business and whose concerns the business needs
to address.
Competitive Priorities - CORRECT ANSWER-Cost, Quality, Time/Speed,
Flexibility
Core Competencies - CORRECT ANSWER-Things a company does extremely
well, which sometimes give it an advantage over its competition
Productivity vs. Value - CORRECT ANSWER--Productivity: maximize the amount
of outputs that can be produced and delivered to market while minimizing the
required inputs.
-Value: ratio of "output purchased"/ "inputs used to purchase"
Primary Supply Chain Goals - CORRECT ANSWER-Sustainable long term
profits and/or Maximize return on investment
Seven Types of Waste - CORRECT ANSWER-(1) Defects: poorly manufactured
products are garbage
