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MGSC 487 Gaffney Questions & 100% Verified Correct Answers with complete solutions (Latest update
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MGSC 487 Gaffney Questions & 100% Verified Correct Answers with complete solutions (Latest update
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MGSC 487 Gaffney-Clerical and tactical
-Availability of supply and cost management - ANS-Early 1900's supply chain
-Strategic Orientation
-Global Supply Chains
-Security, Sustainability, Risk Management - ANS-Supply Chain Now
1. recognition of the need
2. translation of that need into a commercially equivalent description
3. search for potential suppliers
4. selection of a suitable buyer
5. agreement on order or contract details
6. the delivery of the product or services
7. payment of suppliers - ANS-Procurement Process
Measured by the increase in profit obtained by a decrease in purchase spend. - ANS-Profit
Leverage Effect
the efficiency of generating profits from your assets
Formula: Company's annual earnings/ total assets - ANS-ROA Effect
An Indicator of how profitable a company is relative to its total assets.
ROA gives an idea of how efficient management is at using its assets to generate earnings. -
ANS-Return on Assets
Corporate, business unit, function, supply strategy - ANS-Strategic Planning
Answers the question what business are we in?
ex. are railroads in the business of running trains or the movement of things and people -
ANS-Corporate
These decisions mold the plans of a particular business unit - ANS-Business Unit
concerned how each functional area contributes to the business strategy and involve the
allocation of internal resources - ANS-Function
Assurance of supply Strategies:
- designed to ensure that future supply needs are met with emphasis on quality and quantity -
ANS-Supply Strategy
, Operational Vs Strategic
Direct Vs. Indirect - ANS-Contribution to Organizational Strategy
troubleshooter
day-to-day
transactional
Quanlity,quantity, delivery - ANS-Operational
Oppourtunitic
forward looking
better, faster, cheaper - ANS-Strategic
Tangible- profit leverage effect, ROA
Inv. Space and Headcount - ANS-Direct
"Soft"
Information source, good supplier selection,
customer satisfaction, - ANS-Indirect
Operational, Financial, Reputational - ANS-Types of Supply Chain Risk
the risk of interruption of the flow of goods or services - ANS-Operational Risk
the risk that prices of goods or services needed will change significantly
EX. When oil prices go up, the prices of goods and services that require oil as a key raw
material go up. AKA everything - ANS-Financial Risk
-Can be the most serious of the supply chain risk
because the loss of your reputation can wipe out a company
-Think Image and brand recognition
-You want people to positively associate with your brand name
Ex. Volkswagon recent scandal - ANS-Reputational Risk
Who, What, When, Where, Why, How much, What Price - ANS-Supply Strategy
Key decisions are:
-whether to centralize or not
-what the quality of the staff should be
-How much involvement should upper management have with the acquisition process? -
ANS-Who
Most fundamental question in this category is to make or buy, insourcing/outsourcing
-does the organization acquire standard items and materials readily available in the market
-or Special, Custom-specified items - ANS-What
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