SCM 300 Exam 1 with complete solution
Goal of operations - CORRECT ANSWER-Create high quality products and
services using the fewest resources possible
Reverse logistics - CORRECT ANSWER-The management of products that flow
backward in the supply chain, away from the consumer and back in the direction
of manufacturers. (The management of materials moving upstream in the supply
chain)
Downstream - CORRECT ANSWER-Direction that points towards the end
consumer
Upstream - CORRECT ANSWER-Direction that points towards the suppliers
Three SCM flows (necessary for development and functioning of supply chains) -
CORRECT ANSWER-Materials, Money, and Information
Formula for ROI - CORRECT ANSWER-Profit/Investment
Four competitive priorities - CORRECT ANSWER-Cost, quality, speed, flexibility
What are competitive priorities? - CORRECT ANSWER-the critical dimensions
that a process or supply chain must possess to satisfy its internal or external
customers, both now and in the future
Components of cost - CORRECT ANSWER-Materials, energy, wages,
transportation, rent
Components of quality - CORRECT ANSWER-Design, reliability, consistency,
materials, fabrics
Components of speed - CORRECT ANSWER-Delivery, on-time, innovation time
Components of flexibility - CORRECT ANSWER-Customization, size of order,
design
Goal of operations - CORRECT ANSWER-Create high quality products and
services using the fewest resources possible
Reverse logistics - CORRECT ANSWER-The management of products that flow
backward in the supply chain, away from the consumer and back in the direction
of manufacturers. (The management of materials moving upstream in the supply
chain)
Downstream - CORRECT ANSWER-Direction that points towards the end
consumer
Upstream - CORRECT ANSWER-Direction that points towards the suppliers
Three SCM flows (necessary for development and functioning of supply chains) -
CORRECT ANSWER-Materials, Money, and Information
Formula for ROI - CORRECT ANSWER-Profit/Investment
Four competitive priorities - CORRECT ANSWER-Cost, quality, speed, flexibility
What are competitive priorities? - CORRECT ANSWER-the critical dimensions
that a process or supply chain must possess to satisfy its internal or external
customers, both now and in the future
Components of cost - CORRECT ANSWER-Materials, energy, wages,
transportation, rent
Components of quality - CORRECT ANSWER-Design, reliability, consistency,
materials, fabrics
Components of speed - CORRECT ANSWER-Delivery, on-time, innovation time
Components of flexibility - CORRECT ANSWER-Customization, size of order,
design
