INTERNATIONAL SUPPLY CHAIN MGT EXAM SOLVED
CORRECTLY #20
Vertical Integration - correct answer You own everything it takes to produce your
product
Collaboration - correct answer Opposite of vertical integration is market outsourcing,
requires a huge amount of collaboration
Anticipatory supply chain models - correct answer Forecasting, push models, predicting
what consumers will purchase and producing likewise. Leaves lots of time for
manufacturing, but sales aren't 100% assured
Cash to cash conversion - correct answer A measure of financial efficiency, how fast do
we get paid for the inventory that we bought. The time required to convert purchases
into sales revenue
Holding costs - correct answer The longer you keep the inventory, the less it's worth.
What drives a lot of decisions about the choice between anticipatory and responsive
models
Dwell time - correct answer A measure of productivity, ratio of time that an asset sits
idle
Customer relationship collaboration - correct answer an approach to customer
relationship management in which the various departments of a company, such as
sales, technical support, and marketing, share any information they collect from
interactions with customers.
Demand planning - correct answer a multi-step operational supply chain management
process used to create reliable forecasts of sales revenue etc
Economic value - correct answer Characterized by economies of scale (the more you
buy, the less it costs), efficiencies of product/service production. Delivering high quality
at low landed costs
Landed costs - correct answer All costs that go into getting the product to the consumer
Market Value - correct answer Characterized by desirable assortment, customer
convenience, ex. Correct size containers. Satisfying a wider range of what the customer
wants rather than just the thing that they buy
Integration - correct answer Allows individual companies to be efficient, groups of
companies to match a wide range of needs. To fit businesses in a supply chain together
to produce their specialty good that will add value to the overall product
, Life cycle support - correct answer Management of the total life cycle of production, a
product from start to finish
Logistics - correct answer The work to move and geographically position inventory,
more about the "stuff" it takes to move the "stuff"
Manufacturing customization - correct answer
Order fulfillment - correct answer Seeing a product through to delivery to the customer
Postponement - correct answer Method of production that combines both anticipatory
and responsive models. Push processed for those activities required to serve every
customer, and pull comes in when the customer specifies their order.
Product/service development/launch - correct answer
Responsive supply chain models - correct answer Pull models, waiting to hear what the
customer wants before producing. Leaves no extra time for manufacturing and no room
for error in production
Reverse logistics - correct answer Reverse movements of products through the supply
chain, ex. Returns and exchanges
Supply chain management - correct answer Multiple firms collaborating to leverage
strategic position and improve operating efficiency. The process of businesses
cooperating to jointly produce products for a common customer less expensively and/or
better than they could have done alone
Supplier relationship collaboration - correct answer Collaborative strategies between a
supplier and a company
The differences between anticipatory and responsive supply chain models - correct
answer Anticipatory is a push model, create all the products and then sell those,
responsive is a pull model, products aren't created until you know there is demand for
them.
The differences between logistics and SCM - correct answer SCM is management of
multiple firms or groups inside a company, synchronizing to produce products that are
better than they could have done alone. Logistics is the design and administration of
systems to control movement and geographical positioning of raw materials, work in
progress, and finished inventories at lowest total cost
Difference between economic and market value - correct answer Economic value
focuses on profitability index of a product to a producer, while market value is the value
a product has to a consumer
CORRECTLY #20
Vertical Integration - correct answer You own everything it takes to produce your
product
Collaboration - correct answer Opposite of vertical integration is market outsourcing,
requires a huge amount of collaboration
Anticipatory supply chain models - correct answer Forecasting, push models, predicting
what consumers will purchase and producing likewise. Leaves lots of time for
manufacturing, but sales aren't 100% assured
Cash to cash conversion - correct answer A measure of financial efficiency, how fast do
we get paid for the inventory that we bought. The time required to convert purchases
into sales revenue
Holding costs - correct answer The longer you keep the inventory, the less it's worth.
What drives a lot of decisions about the choice between anticipatory and responsive
models
Dwell time - correct answer A measure of productivity, ratio of time that an asset sits
idle
Customer relationship collaboration - correct answer an approach to customer
relationship management in which the various departments of a company, such as
sales, technical support, and marketing, share any information they collect from
interactions with customers.
Demand planning - correct answer a multi-step operational supply chain management
process used to create reliable forecasts of sales revenue etc
Economic value - correct answer Characterized by economies of scale (the more you
buy, the less it costs), efficiencies of product/service production. Delivering high quality
at low landed costs
Landed costs - correct answer All costs that go into getting the product to the consumer
Market Value - correct answer Characterized by desirable assortment, customer
convenience, ex. Correct size containers. Satisfying a wider range of what the customer
wants rather than just the thing that they buy
Integration - correct answer Allows individual companies to be efficient, groups of
companies to match a wide range of needs. To fit businesses in a supply chain together
to produce their specialty good that will add value to the overall product
, Life cycle support - correct answer Management of the total life cycle of production, a
product from start to finish
Logistics - correct answer The work to move and geographically position inventory,
more about the "stuff" it takes to move the "stuff"
Manufacturing customization - correct answer
Order fulfillment - correct answer Seeing a product through to delivery to the customer
Postponement - correct answer Method of production that combines both anticipatory
and responsive models. Push processed for those activities required to serve every
customer, and pull comes in when the customer specifies their order.
Product/service development/launch - correct answer
Responsive supply chain models - correct answer Pull models, waiting to hear what the
customer wants before producing. Leaves no extra time for manufacturing and no room
for error in production
Reverse logistics - correct answer Reverse movements of products through the supply
chain, ex. Returns and exchanges
Supply chain management - correct answer Multiple firms collaborating to leverage
strategic position and improve operating efficiency. The process of businesses
cooperating to jointly produce products for a common customer less expensively and/or
better than they could have done alone
Supplier relationship collaboration - correct answer Collaborative strategies between a
supplier and a company
The differences between anticipatory and responsive supply chain models - correct
answer Anticipatory is a push model, create all the products and then sell those,
responsive is a pull model, products aren't created until you know there is demand for
them.
The differences between logistics and SCM - correct answer SCM is management of
multiple firms or groups inside a company, synchronizing to produce products that are
better than they could have done alone. Logistics is the design and administration of
systems to control movement and geographical positioning of raw materials, work in
progress, and finished inventories at lowest total cost
Difference between economic and market value - correct answer Economic value
focuses on profitability index of a product to a producer, while market value is the value
a product has to a consumer
