MBA 657 Operations Management Chapters 11, 12 and 16 || with 100% Verified Solutions.
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MBA 657 Operations Management Chapters 11, 12 and
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MBA 657 Operations Management Chapters 11, 12 And
Supply chain correct answers the network of facilities and activities that performs the functions of product development, procurement of materials from vendors, the movement of materials between facilities, the manufacturing of products, the distribution of finished goods to customers, and after-ma...
MBA 657 Operations Management Chapters 11, 12 and 16 ||
with 100% Verified Solutions.
Supply chain correct answers the network of facilities and activities that performs the functions
of product development, procurement of materials from vendors, the movement of materials
between facilities, the manufacturing of products, the distribution of finished goods to customers,
and after-market support for sustainment
Supply Chain Management (SCM) correct answers The coordination of all supply chain
activities involved in enhancing customer value
Activities of SCM correct answers · Forecasting and scheduling
· product and material flows
· inventory management
· identifying resources of supply and procuring materials
· supplier management
· production and assembly
· order capture and scheduling
· billing accounts receivable
· order consolidation
· picking and packing
transportation
· dealing with returns and allowances
· financial planning
· information systems
· performance measurement
· customer relationship management
The objective of supply chain management correct answers To structure the supply chain to
maximize its competitive advantage and benefits to the ultimate consumer
Benefits of a well managed supply chain correct answers § faster inventory turnover, less
warehouse space
needed, better working capital and cash flow management,fast response to sales surges and fads,
less safety stock, andprices that average 14% lower than competing stores
What the best in SCM do (Wal-Mart and Dell) correct answers Use innovative SCM as a
strategic weapon.
Use up-to-date information technology to speed decision making and on-demand movement
Supply Chain Management Characteristics correct answers 1) Treats the supply chain as a single
entity, not a series of autonomous functions or segments.
,2) "Supply" is considered the shared objective of every function or segment in the chain, and
SCM relies on strategic decision making.
3) It views 'inventories' as last resorts for resolving imbalances
between various segments of the supply chain.
4) It embraces the integration of systems throughout the chain, which goes beyond the superficial
contact that is traditional.
Sourcing decisions in supply chain correct answers Make-or-buy decision
Outsourcing or specialization
make or buy decision correct answers a decision concerning whether an item should be produced
internally or purchased from an outside supplier
Outsourcing correct answers Transfers some of what are traditional internal activities and
resources of a firm to outside vendors.
The Bullwhip (Whiplash) Effect correct answers when orders are relayed through the supply
chain with fluctuations increasing at each step
What happens to the bullwhip effect as supply chain becomes more complex and lead-time
increases correct answers Increases
The farther one moves up the supply chain and away from the retail customer correct answers
The greater the variability in demand.
Causes of the bullwhip effect correct answers 1. demand forecast updating
2. order batching
3. price fluctuations
4. rationing and shortage gaming
Sourcing strategies correct answers Many suppliers
Few suppliers
Vertical integration
Joint ventures
Keiretsu networks
Virtual companies
, Demand forecast updating correct answers Causes bullwhip effect; forecasts readjustments made
at each
supply chain (demand signal processing)
Cross-sourcing correct answers a hybrid technique where two suppliers each provide a different
component, but they have the capability of producing each other's component
Risk in sourcing correct answers Supplier failure to deliver
Supplier quality failures
Outsourcing
Logistic delays or damage
Distribution
Information loss or distortion
Political
Economic
Natural catastrophes
Theft, vandalism, terrorism
Order batching correct answers When companies place large and infrequent orders from their
suppliers which amplifies variability and surges in demand (causes bullwhip effect)
Price Fluctuations correct answers Price discounts introduce variability into customer demand so
customer's buying pattern does not reflect consumption pattern and so will cause the bullwhip
effect
How to counteract the bullwhip effect correct answers a. Change the way suppliers forecast
product demand by making this information from the final seller level available to all levels of
the supply chain.
b. Eliminate Order batching
c. Stabilize prices
d. Eliminate gaming
Rationing and Shortage Gaming correct answers when demand is greater than supply and
products are rationed to members of supply chain and then overreacting customers anticipate
shortage and give supplier inaccurate pattern on actual demand.
Opportunities in Managing the Integrated Supply Chain correct answers ▶Accurate "pull" data,
shared information
▶Lot size reduction, shipping, discounts, reduced ordering costs
▶Single stage control of replenishment
▶Single supply chain member responsible for ordering
▶Vendor managed inventory (VMI)
▶Collaborative planning, forecasting, and replenishment (CPFR) throughout the supply chain
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