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OMIS 320 COPE TEST 1 Question and answers 100% correct

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OMIS 320 COPE TEST 1 Question and answers 100% correct OMIS 320 COPE TEST 1 Supply Chain Management (SCM) - correct answer the integration of key business processes regarding the flow of materials from raw material suppliers to final customers vertically integrated firm - correct answer...

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  • November 5, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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OMIS 320 COPE TEST 1
Supply Chain Management (SCM) - correct answer ✔the integration of key
business processes regarding the flow of materials from raw material
suppliers to final customers


vertically integrated firm - correct answer ✔A firm whose business
boundaries include former suppliers and/or customers


first-teir suppliers, first-teir customers - correct answer ✔The ____________
suppliers are thus the focal firm's second-tier suppliers, and the ___________
customers are the focal firm's second-tier customers


second-tier suppliers and customers - correct answer ✔A supplier's suppliers
and a customer's customers.


A supply chain consists of flow of products and services from - correct
answer ✔•Raw materials manufacturers
•Component and intermediate manufacturers
•Final product manufacturers
•Wholesalers and distributors and
•Retailers


· Successful supply chain management requires high levels of trust,
cooperation, collaboration, and honest, accurate communications. - correct
answer ✔True


Who benefits most from SCM? - correct answer ✔Firms with large system
inventories

, Reduced Bullwhip Effect - correct answer ✔Erratic demand forecasts
causing excess safety stocks, which cause production planning problems


Foundations of SCM - correct answer ✔Supply
Supply base reduction, supplier alliances, SRM, global sourcing, ethical and
sustainable sourcing (Ch. 2-4)
Operations
Demand management, CPFR, inventory management, MRP, ERP, lean
systems, Six Sigma quality systems (Ch. 5-8)
Logistics
Logistics management, customer relationship management, network design,
RFID, global supply chains, sustainability, service response logistics (Ch. 9-
12)
Integration
Barriers to integration, risk and security management, performance
measurement, green supply chains (Ch. 13,14)


Strategic Partnerships - correct answer ✔successful and trusting
relationships with top-performing suppliers


Demand Management - correct answer ✔•match demand to available
capacity
•Linking buyers & suppliers via MRP and ERP systems
•Extending order communication and inventory visibility farther up the supply
chain


Transportation management - correct answer ✔•tradeoff decisions between
cost & timing of delivery / customer service via trucks, rail, water & air

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