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SCM 300 Exam -1 Questions and Answers
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SCM 300 Exam -1 Questions and Answers
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SCM 300 Exam #1 Questions andAnswers
Supply Chain Management - Answer -The efficient integration of suppliers,
manufacturers, transporters, distributions centers, warehousing, and retailers
Procurement - Answer -The purchasing of goods and services to meet the needs of the
supply chain
Operations - Answer -The management of the things that make stuff
Logistics - Answer -Responsible for transportation, storage; control the flow of materials
from start to finish
reverse logistics - Answer -The area of logistics that involves bringing goods back to the
manufacturer from the consumer because of defects or for recycling materials.
Global SCM - Answer -when one supply chain spans across multiple countries
1st Tier Supplier - Answer -Companies direct supplier
2nd tier suppliers - Answer -A firm that provides goods and/or services to a company's
first-tier supplier.
Upstream vs. Downstream - Answer --Upstream: the direction that points toward the
suppliers.
-Downstream: the direction that points toward the end consumer
Three SCM Flows - Answer -Materials, Money, and Information
If any of these stop, the company dies!
Business Model - Answer -a plan that details how a company creates, delivers, and
generates revenues
supply chain visibility - Answer -the ability to view all areas up and down the supply
chain
, Profit - Answer -the difference between total revenue and total cost, SCM plays a role in
both
Return on Investment (ROI) - Answer -total profit / total investment
helps evaluate return on investments
SCM help to decrease costs to maximize ROI
Competitive Priorities - Answer -cost, quality, speed, flexibility (customizations)
core competencies - Answer -Things a company does extremely well, which sometimes
give it an advantage over its competition, should be difficult or impossible to replicate
Productivity vs Value - Answer --Productivity: maximize the amount of outputs that can
be produced and delivered to market while minimizing the required inputs.
-Value: ratio of "output purchased"/ "inputs used to purchase", what did I buy / what did
it cost me
Primary Supply Chain Goals - Answer -Effectiveness, Efficiency, Adaptability
Seven Types of Waste - Answer -defects, overproduction, transportation, motion
(employees moving too much), waiting (overproducing items that aren't needed),
inventory (items on the shelf can get lost, broken, stoeln, over-processing
Keys to being a successful SC Manager - Answer -(1) Satisfy the needs of the customer
(2) Satisfy the needs of the company
(3) Be prepared for the future.
SC Strategy (3) - Answer -a) understanding the product/services b) developing a
business model c) organizing the right group of suppliers
SC Tools (5) - Answer -(a) Supply chain metrics
(b) Information technology tools
(c) Relationship management skills
(d) Financial resources
(e) Organizational integration (communication within the company and SCM)
Inventory - Answer -items a company intends for sale to customers or needs for day-to-
day operations
Lead Time - Answer -time interval between ordering and receiving the order
Lot Size - Answer -An accepted order size. (Sometimes also refers to a possible order
size increment. Example: Lot size of 100 units. Ordering 100, 200, 300, etc. would be
possible order sizes.)
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