SCM 455 Midterm Questions with complete solution 2024/2025
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Course
SCM 455
Institution
SCM 455
SCM 455 Midterm Questions with complete solution 2024/2025 SCM 455 Midterm - Vitikas
Characteristics of a Project in SM - correct answer *Projects are a series of tasks with:*
-Specific objectives, defined start and stop dates
-Limited resources, time, personnel, and budgets
Dimensions ...
SCM 455 Midterm - Vitikas
Characteristics of a Project in SM - correct answer ✔*Projects are a series of
tasks with:*
-Specific objectives, defined start and stop dates
-Limited resources, time, personnel, and budgets
Dimensions of a project in SM - correct answer ✔*Defined Scope* - project
overview, agreed upon tasks, starting and end posts, costs
*Defined Success* - attainment of objectives, stakeholder satisfaction...
Definition of a *Work Breakdown Structure* (WBS) (guaranteed on exam) -
correct answer ✔*Summation of activities and resources required*
-Broken down into tasks, subtasks, responsibilities, precedents, costs
-Like a bill of material for projects
What is a *Gnatt Chart*? - correct answer ✔Used for project planning and
control techniques (used in project)
-shows duration of each phase
What is the *critical path method*? - correct answer ✔*the longest time path*
in a process with multiple steps
-use when there is a single known time for each activity w/ no variance
Considerations of a Project (possible Q) - correct answer ✔*Leadership*
-Senior management commitment
Definition of a *Spend Category* - correct answer ✔*A spend category is a
convenient grouping of like-spend items*
-Commodities are categories with limited differentiation (ex; ofc supplies)
-SM categorizes spend for efficiency and to improve control
-Ways to group: sourcing location, volume, value, use, complexity
Definition of *Category Strategy* - correct answer ✔Plans to achieve various
supply elements
How can firms align their supply management and enterprise/BU objectives? -
correct answer ✔Strategic Mapping
Supply Structure Dimensions to consider in a category Strategy Matrix -
correct answer ✔Organization, supply base, quality, costing, contracts, and
processing
Objectives to consider in a category Strategy Matrix - correct answer ✔BU
objectives, SM objectives, and category objectives
SWOT Analysis - correct answer ✔*Internal* - strengths and weaknesses
*External* - opportunities and threats
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