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ARE 112 MIDTERM 2 QUESTIONS AND ANSWERS STUDY GUIDE!!
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ARE 112 MIDTERM 2 QUESTIONS AND ANSWERS STUDY GUIDE!!
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ARE 112 MIDTERM 2 QUESTIONS AND ANSWERS STUDYGUIDE!!
What are the different definitions of the supply chain
Answers :1. Marketing channel
2. Value chain
3. Physical vs conceptual model
4. The component business model
What is supply chain management (SCM)?
Answers :Management of the flow of goods/services that involves the movement
and storage of raw materials + work-in-process inventory
OR
Design/planning/executaiton/control/monitoring of supply chain activites with
objective of creating net value, building competitive infrastrucutre, leveraging
worldwide logistics, synchronizing supply with demand and measuring
performance globally
What does SCM not address?
Answers :Production for a good or providing a service
What are the 2 views of the supply chain?
Answers :Physical model and the conceptual model
What are the components of the conceptual model?
Answers :The tiers (tomatoes come from farms, which repsond to fertilizing
company etc.)
What is a tier?
,Answers :Where quality, accountability and reliability are enforced; Need
contracts + agreements
What did Baxter international not do?
Answers :It did not view the supply chain "end to end"; did not look at the
individual tiers; so bad quality heparin made it through
What is a marketing channel/distriubtion channel
Answers :People, organizations, and activites necessary to transfer the ownership
of goods from the point of production to point of consumption (how products go to
consumer); CUSTOMER side of supply chain
What is the defining characteristic of a marketing channel?
Answers :It is CHAOTIC; because it is multichannel
What is a title deed?
Answers :When you own something
What is a FOB?
Answers :Free of title from seller; soon as shipped tis urs
What are the different types of flows within the marketing channel?
Answers :Physical flow (where is the product going through)
Title deed flow (who owns it)
Payment flow (where is the money going through)
Information flow
, Promotion flow (how/who is promoting the product)
What is the value chain?
Answers :The architectural view of the supply chain process
What are the two parts/section of the value chain?
Answers :The support activites and the primary activites
How are the support activites and primary activites in the value chain related?
Answers :They need to be put together so that you start with a small dollar amount
and end with a larger amount
What are the support activites?
Answers :Everyone who does not touch the product
What does value chain analysis help us do?
Answers :It helps us make the market chain more effective/efficient (more clear
where cuts/additions can be made)
What is the component buisness model (of the supply chain)?
Answers :Broken down into core competencies and outsourcing ; specializes and
modularizes buisness functions
What are core competencies?
Answers :Functions or capabilities that are most efficient, optimized, or that
provide the most competitive advantage; what can we do well
What is outsourcing?
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