Supply Chain Management correct answers the active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage
Supply Chain correct answers A network of manufacturers and service providers that work together to creat...
SCM 3301 Exam 1 Miller || All Correct.
Supply Chain Management correct answers the active management of supply chain activities and
relationships in order to maximize customer value and achieve a sustainable competitive
advantage
Supply Chain correct answers A network of manufacturers and service providers that work
together to create products or services needed by end users. These manufacturers are linked
together through physical flows, information flows, and monetary flows.
Why Study Supply Chain Management correct answers -Every organization must make a
product or provide a service that someone values.
-Most organizations function as part of larger supply chains.
-Organizations must carefully manage their operations and supply chains in order to prosper, and
indeed, survive.
Operations Management correct answers the planning, scheduling, and control of the activities
that transform inputs into finished goods and services
PLAN correct answers Activities that include balance demand requirements against resources &
communicate these plans to the various participants
BUY/SOURCE correct answers Activities that include identifying, developing, coordinating
suppliers & the delivery of incoming goods & services
MAKE correct answers Activities designed to produce an actual good or service
DELIVER correct answers Activities which store and transport goods to a new destination
Return correct answers Activities for returning and processing defective or excess products and
materials (often called "Reverse Logistics")
Focal Firm correct answers The organization with which one identifies when discussing Supply
Chain Management
Upstream correct answers : Activities or firms positioned earlier in the Supply Chain (prior to the
Focal Firm)
Downstream correct answers Activities or firms positioned later in the Supply Chain (after the
Focal Firm)
, 1st Tier Supplier: correct answers direct supply to the Focal Firm
2nd Tier supplier correct answers direct supplier to the 1st Tier Supplier
1st Tier customer correct answers direct customer to the Focal Firm
2nd tier customer correct answers direct customer of the 1st Tier Customer
The three major trends correct answers Increasing Competition and Globalization
Relationship Management
Electronic Commerce
Electronic Commerce correct answers The use of computer and telecommunication technologies
to conduct business via electronic transfer of data and documents.
Relationship Management correct answers Organizations must manage the relationships with
their upstream suppliers as well as their downstream customers.
Supply Chain Operations Reference (SCOR) Model correct answers A framework developed and
supported by the Supply Chain Council that seeks to provide standard descriptions of the
processes, relationships, and metrics that define supply chain management.
Structural element correct answers Large capital investments that are difficult to reverse.
Includes tangible resources such as buildings, equipment, and computer systems.
Example-New Battery Plant for Tesla
capacity,-Facilities
-Technology
Infrastructural element correct answers The policies, people, decision rules, and organizational
structure choices made by a firm. These affect the culture and operation of the business.
Infrastructural Decision Categories correct answers -Organization
-Sourcing/purchasing
-Planning and Control
-Business process and Quality management
-Product and Service development
Operations and Supply Chain strategy correct answers A functional strategy that indicates how
structural and infrastructural elements with the operations and supply chain areas will be
acquired and developed to support the overall business strategy.
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