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MGT 322 FINAL EXAM NOTES | VERIFIED GUIDE
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- MGT 322
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MGT 322 FINAL EXAM NOTES
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MGT 322 FINAL EXAM NOTES SEU-MGT 322/Final Exam “Study Notes ” 1st semester 2017 Chapter (1) • Supply chain and supply chain management concepts; 1) Total system cost >> Remains an important element of logistics analysis. 2) Outbound logistics >> The warehousing and distribution of finished goods. 3) Inbounding logistics >> The receiving and warehousing of raw materials, and their distribution to manufacturing as they are required. 4) Value chain analysis integrated logistics activities. • Business Logistics in a farm; A- Physical supply materials management “Inbound Logistics ” 1- Raw materials supply point. 2- Raw materials storage. 3- Manufacturing. B- Physical distribution “Outbound Logistics ” 1- Manufacturing. 2- Finished goods. 3- Marketing. • The supply chain management concept; “A supply chain is a group of partners who collectively convert a basic commodity (Upstream) into finished product (Downstream) that is valued by end-customers, and who manage returns at each stage ”. 2 • The definition of supply chain management; “Planning and controlling all the processes that link partners in supply chain together in order to serve needs of the end-customer ”. • The definition of logistics concept; “The task of coordinating materials flow and information flow across the supply chain ”. • What is the relationship between materials and information flow? “It is a cross -functional discipline that addresses management processes of plan, source, make, deliver and return. These processes are repeated across the supply chain to meet end customer needs ”. Simply , Material flow is to keep material flow to end-customer, and information flow is the end -customer demand information across supply chain. • Creating logistics advantages to meet target; Meeting end-customer demand through supplying what is needed in; 1- The form it is needed “Quality ”. 2- When it is needed “Time”. 3- At a competitive cost “Cost”. • Order winners and Order qualifiers; They have different logistics performance objectives, 1- Order Winners >> are factors that directly and significantly help products to win order in the marketplace. Customer regard such factors as key reasons for buying the product or services. 2- Order Qualifiers >> are factors that are regarded by the market as an “entry ticket ”. Unless the product or services meets basic performance standards, and it will not be taken seriously. 3 • How to achieving the strategic fit? By understanding the customer; 1- Lot size. 2- Response time. 3- Service level. 4- Product variety. 5- Price. 6- Innovation. • The drives of supply chain performance; A- Competitive Strategy = Drivers + Efficiency Vs. Responsiveness . B- Supply Chain Strategy and Structure “Drivers ” are; Drivers = Inventory + Transportation + Facility + Information • Consideration for Supply Chain Drivers; 1) Driver = Inventory + Effic ..Cost of holding Vs. Respon ..Availability. 2) Driver = Transportation + Effic ..Consolidation Vs. Respon ..Speed. 3) Driver = Facility + Effic ..Consolidation or Dedication Vs. Respon ..Proximity or Flexibility. 4) Driver = Information + What information is best suited for each objective. 4 Chap ter (2) • The Marketing Perspective Definition; Is a philosophy that integrates the disparate activities and functions that take a place within the network. Satisfied the end customers are seen as the only source of profit, growth and security. • The marketing perspective challenges; 1- Strong brand >> Increased sales and market shares. 2- Short lead time >> Increased Productivity. • The marketing perspective Two Pairs Concepts; 1 Business customer Vs. End Customer. - Usually refer to; A- Business customer who represent the focal firm’s immediate trading environment. B- End Customer who represent the ultimate customer for the network as a whole. 2 Consumer Vs, Customer. - Usually refer to; A- Consumers are people who use or consume the products. B- Customers are individuals or businesses who buy the products which means th at they acquire products and pay for it. • Marketing segmentation; - Market can be segmented in many ways such as; 1- Demographic >> age, gender, and education. 2- Geographic >> urban Vs. Country, types of house, region. 3- Technical >> the use that customers are going to make of a product. 4- Behavioral >> spending pattern, and frequency purchasing.The benefits of buying summaries with Stuvia:
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