GMS804 EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS VERIFIED
SCM (Supply Chain Management)
design and management of flows of products, info and funds throughout the SC
flow of products
- from the beginning to the final customer
- reverse logistics
flow of information
-simplified supply chains utilize data from point-of-sale back to suppliers
-real time information reduces uncertainty and inventory levels
Flow of Funds
funds are transferred in both directions along the supply chain
Upstream Supply Chain
involves coordinating buying activities with suppliers.
downstream supply chain
coordinating the flow of information and goods with clients and customers
Value Chain
the process or activities by which a company adds value to an article, including
production, marketing, and the provision of after-sales service.
SCM Activities:
1. Coordination
, coordination of the movement of goods, services, and funds through the SC
SCM Activities:
2. Information Sharing
requires sharing relevant information among members of the SC
SCM Activites:
3. Collaboration
jointly plan, operate, and execute business decisions as one entity.
- may include collaborating on ways to 1.cut costs or 2. improve quality standards
throughout the entire SC
Customer Focus
the final customer is the driving force of the SC
- products are pulled through SC
Service Supply Chain
focus more on interaction between customers and provider
- often rely on customers as the supplier of inputs
- tend to be shorter than manufacturing SC
Logistics
the part of the supply chain that plans, implements, and controls the effective flows and
inventory of raw material, component parts, and products used in manufacturing
Characteristics of SC:
1. Responsiveness
ability to move quickly to meet customer demands (aka. agility)
- execution process should always be more demand-driven rather than forecast driven
SOLUTIONS VERIFIED
SCM (Supply Chain Management)
design and management of flows of products, info and funds throughout the SC
flow of products
- from the beginning to the final customer
- reverse logistics
flow of information
-simplified supply chains utilize data from point-of-sale back to suppliers
-real time information reduces uncertainty and inventory levels
Flow of Funds
funds are transferred in both directions along the supply chain
Upstream Supply Chain
involves coordinating buying activities with suppliers.
downstream supply chain
coordinating the flow of information and goods with clients and customers
Value Chain
the process or activities by which a company adds value to an article, including
production, marketing, and the provision of after-sales service.
SCM Activities:
1. Coordination
, coordination of the movement of goods, services, and funds through the SC
SCM Activities:
2. Information Sharing
requires sharing relevant information among members of the SC
SCM Activites:
3. Collaboration
jointly plan, operate, and execute business decisions as one entity.
- may include collaborating on ways to 1.cut costs or 2. improve quality standards
throughout the entire SC
Customer Focus
the final customer is the driving force of the SC
- products are pulled through SC
Service Supply Chain
focus more on interaction between customers and provider
- often rely on customers as the supplier of inputs
- tend to be shorter than manufacturing SC
Logistics
the part of the supply chain that plans, implements, and controls the effective flows and
inventory of raw material, component parts, and products used in manufacturing
Characteristics of SC:
1. Responsiveness
ability to move quickly to meet customer demands (aka. agility)
- execution process should always be more demand-driven rather than forecast driven
