SCM 300
is the Efficient Integration of suppliers, transporters, manufacturers, warehouses,
retailers and all other parties associated with the delivery of the final product.·
Achieve Goals - Cost, Speed, Quality..
· Efficient Execution - Get things done right, but with minimal effort and resources
Manage Resources - People, Materials, Machines.. - CORRECT
ANSWER-Supply Chain Management
firm whose business include former suppliers and/or customers;Form of business
organization in which all stages of production of a good, from the acquisition of
raw materials to the retailing of the final product, are controlled by one company.
A current example is the oil industry, in which a single firm commonly owns the oil
wells, refines the oil, and sells gasoline at roadside stations. - CORRECT
ANSWER-Vertically Integrated Firm
Inventory Visibility - CORRECT ANSWER-the ability of an organization to "see"
inventory on a real-time basis throughout its logistics and/or supply chain system.
Reverse Logistics - CORRECT ANSWER-along the supply chain intermediate
and end customers may need to return or recycle productsreverse logistics is the
process of moving goods from their typical final destination for the purpose of
capturing value, or proper disposal. Remanufacturing and refurbishing activities
also may be included in the definition of reverse logistics."
Demand Management - CORRECT ANSWER-a proactive approach in which
managers attempt to influence either the pattern or consistency of demand
Supplier Management - CORRECT ANSWER-encouraging or helping the firms
suppliers to perform in some desired fashion. Involves assessing suppliers
capabilities and then deciding how to improve them.
Second tier suppliers and customers - CORRECT ANSWER-a supplier's
suppliers and a customer's customers
, lean production system (JIT) - CORRECT ANSWER-Production system
designed for smooth production flows that avoid inefficiencies, eliminate
unnecessary inventories, and continuously improve production processes
Logistics decisions and trade-offs - CORRECT ANSWER-decisions that involve
trade-offs between cost and delivery timing or customer service. Trucks are
typically more expensive than rail roads but offer more speed and flexibility. Air is
more expensive but faster. All these decisions must be considered for a
successful SC.
Business process reengineering - CORRECT ANSWER-rethinking and radical
redesign of business processes to improve performance, quality, and productivity.
Four trends in SCM - CORRECT ANSWER-Expanding and contracting the
supply chain
Increasing Supply Chain responsiveness
The greening of supply chains
Reducing supply chain costs
What are the competitive priorities of SCM - CORRECT ANSWER-Cost
Quality
Speed/Time
Flexibility
Operations Management - CORRECT ANSWER-Design, operation, and
improvement of the production systems that efficiently transform INPUTS into
Finished Goods & Services, maximizing productivity.
Logistics - CORRECT ANSWER--Design, operation, and improvement of the
production systems that efficiently transform INPUTS into Finished Goods &
Services, maximizing productivity
Procurement - CORRECT ANSWER-The process of obtaining services, supplies,
and equipment in conformance with corporate regulations.·
3 flows - CORRECT ANSWER-Money, material and information
is the Efficient Integration of suppliers, transporters, manufacturers, warehouses,
retailers and all other parties associated with the delivery of the final product.·
Achieve Goals - Cost, Speed, Quality..
· Efficient Execution - Get things done right, but with minimal effort and resources
Manage Resources - People, Materials, Machines.. - CORRECT
ANSWER-Supply Chain Management
firm whose business include former suppliers and/or customers;Form of business
organization in which all stages of production of a good, from the acquisition of
raw materials to the retailing of the final product, are controlled by one company.
A current example is the oil industry, in which a single firm commonly owns the oil
wells, refines the oil, and sells gasoline at roadside stations. - CORRECT
ANSWER-Vertically Integrated Firm
Inventory Visibility - CORRECT ANSWER-the ability of an organization to "see"
inventory on a real-time basis throughout its logistics and/or supply chain system.
Reverse Logistics - CORRECT ANSWER-along the supply chain intermediate
and end customers may need to return or recycle productsreverse logistics is the
process of moving goods from their typical final destination for the purpose of
capturing value, or proper disposal. Remanufacturing and refurbishing activities
also may be included in the definition of reverse logistics."
Demand Management - CORRECT ANSWER-a proactive approach in which
managers attempt to influence either the pattern or consistency of demand
Supplier Management - CORRECT ANSWER-encouraging or helping the firms
suppliers to perform in some desired fashion. Involves assessing suppliers
capabilities and then deciding how to improve them.
Second tier suppliers and customers - CORRECT ANSWER-a supplier's
suppliers and a customer's customers
, lean production system (JIT) - CORRECT ANSWER-Production system
designed for smooth production flows that avoid inefficiencies, eliminate
unnecessary inventories, and continuously improve production processes
Logistics decisions and trade-offs - CORRECT ANSWER-decisions that involve
trade-offs between cost and delivery timing or customer service. Trucks are
typically more expensive than rail roads but offer more speed and flexibility. Air is
more expensive but faster. All these decisions must be considered for a
successful SC.
Business process reengineering - CORRECT ANSWER-rethinking and radical
redesign of business processes to improve performance, quality, and productivity.
Four trends in SCM - CORRECT ANSWER-Expanding and contracting the
supply chain
Increasing Supply Chain responsiveness
The greening of supply chains
Reducing supply chain costs
What are the competitive priorities of SCM - CORRECT ANSWER-Cost
Quality
Speed/Time
Flexibility
Operations Management - CORRECT ANSWER-Design, operation, and
improvement of the production systems that efficiently transform INPUTS into
Finished Goods & Services, maximizing productivity.
Logistics - CORRECT ANSWER--Design, operation, and improvement of the
production systems that efficiently transform INPUTS into Finished Goods &
Services, maximizing productivity
Procurement - CORRECT ANSWER-The process of obtaining services, supplies,
and equipment in conformance with corporate regulations.·
3 flows - CORRECT ANSWER-Money, material and information
