SUPPLY CHAIN MANAGEMENT CH 1 INTRO EXAM WITH
ANSWERS #7
What is Supply Chain Management? - correct answer The planning and management of
all activities involved in sourcing and procurement, conversion, and all logistics
management activities ... Also includes coordination with channel partners, which can
be suppliers, intermediaries, third party service providers, and customers.
What is Supply Chain Management? - correct answer The design and management of
seamless, value-added processes across organizational boundaries to meet the real
needs of the end customer.
What is Supply Chain Management? - correct answer The coordinated set of
techniques to plan and execute all steps in the global network used to acquire raw
materials from vendors, transform them into finished goods, and deliver both goods and
services to customers.
SCM manages the flow of... - correct answer Materials, Information, and Money
Supply Chain - correct answer Supply Chain - a sequence of activities and
organizations involved in producing and delivering a good or service
Suppliers' Suppliers > Direct Suppliers > Producer > Distributor > Final Customer
Goal of Managing the Chain of Supplies - correct answer Bring the product or service to
the customer at the right time, in the right amount, at the right price.
Components of Supply Chain Management - Inventory/Forecasting - correct answer
Meeting demand requirements while managing costs
Components of Supply Chain Management - Purchasing - correct answer Evaluating
potential suppliers, supporting the needs of operations on purchased goods and
services
Components of Supply Chain Management - Suppliers - correct answer Monitoring
supplier quality, on-time delivery, and flexibility; maintaining supplier relations
Components of Supply Chain Management - Location - correct answer Determining the
location of facilities
Components of Supply Chain Management - Logistics/Transportation - correct answer
Deciding how to best move information and materials
Always keep _________ in mind - correct answer Customer
ANSWERS #7
What is Supply Chain Management? - correct answer The planning and management of
all activities involved in sourcing and procurement, conversion, and all logistics
management activities ... Also includes coordination with channel partners, which can
be suppliers, intermediaries, third party service providers, and customers.
What is Supply Chain Management? - correct answer The design and management of
seamless, value-added processes across organizational boundaries to meet the real
needs of the end customer.
What is Supply Chain Management? - correct answer The coordinated set of
techniques to plan and execute all steps in the global network used to acquire raw
materials from vendors, transform them into finished goods, and deliver both goods and
services to customers.
SCM manages the flow of... - correct answer Materials, Information, and Money
Supply Chain - correct answer Supply Chain - a sequence of activities and
organizations involved in producing and delivering a good or service
Suppliers' Suppliers > Direct Suppliers > Producer > Distributor > Final Customer
Goal of Managing the Chain of Supplies - correct answer Bring the product or service to
the customer at the right time, in the right amount, at the right price.
Components of Supply Chain Management - Inventory/Forecasting - correct answer
Meeting demand requirements while managing costs
Components of Supply Chain Management - Purchasing - correct answer Evaluating
potential suppliers, supporting the needs of operations on purchased goods and
services
Components of Supply Chain Management - Suppliers - correct answer Monitoring
supplier quality, on-time delivery, and flexibility; maintaining supplier relations
Components of Supply Chain Management - Location - correct answer Determining the
location of facilities
Components of Supply Chain Management - Logistics/Transportation - correct answer
Deciding how to best move information and materials
Always keep _________ in mind - correct answer Customer
