SCM 303 Questions and Correct Answers the Latest Update
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Course
SCM 303
Institution
SCM 303
Where are supply chains found?
In a wide variety of businesses
Upstream
towards suppliers
Downstream
towards customers
Why was the silk road or the spice trade viable?
because the goods being transported were very highly valued
The tradability of goods..
has been increasing over time
...
Do all major companies define their supply chain organizations in the same way?
✓ No
Why is SCM at MSU ranked #1 in the US
✓ A variety of reasons such as recruiters rate MSU as a great place to hire, student
placement rates are very high, MSU SCM curriculum is comprehensive, and Broad &
MSU SCM faculties have published a lot in top journals.
What are common challenges in SCM?
✓ how to meet customer requirements, how to lower costs while improving quality,
and how to align supply chains with the corporate competitive strategy.
Who has the longest time horizon among the various strategies?
✓ The corporate strategy
Total Cost Concept
✓ includes elements such as transaction cost, salvage cost, purchase cost, and operating
cost.
Time-to-market lead time
✓ the total time it takes for a form to conceive, design, test, produce, and deliver a
new or revised product
✓ value proposition, critical customer, and capabilities
Quality
✓ based on individual perception so there will be no definite answer regarding "what is
the highest quality among a group of homogeneous products"
Top-Bottom order of hierarchy
✓ Corporate strategy, business unit strategy, and functional strategy
Value proposition
✓ a variety of features such as features that customers value and pay for, a difficult to
imitate source of differentiation, satisfies financial and strategic form objectives, and
deliverable using the firms capabilities and supply chain
✓ Adaptability refers to "adjust to structural changes"
Sequential process flow
✓ not all tests can be performed at the same time
Parallel process flow
✓ multiple tasks can be done at the same time
A value of a flow chart help you...
✓ think: "how is the decision being made?"
✓ question: "is this the way we really do it?"
✓ ask: "why do we do it this way?"
✓ explore: "why do we do that step?"
Producing in Batches/Lots
✓ -minimize setup time and maximize running time
✓ -achieve operational efficiency as well as labor efficiency
✓ -learning curve for companies to become more efficient in producing products or
providing services in batches
✓ -more efficient operational processes
Bottleneck
✓ worker, skill type, machine, facility, and so on
Blocking and starving result in...
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