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SCMT UARK exam 1 Questions and Answers 100% Solved
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Exam of 9 pages for the course UARK MGMT 2103 at UARK MGMT 2103 (SCMT UARK exam 1)
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SCMT UARK exam 1the objective of Walmart's early network design strategy was to - answerlocate stores
close to distribution centers
what is the theme throughout scmt - answerhow logistics and supply chain management
can be used to create a competitive advantage
the concept of supply chain management emerged - answer1990's+
what external event led JB hunt to develop and launch their brokerage division and
decrease the size of their truck related assets? - answerrecession of late 2000's
3PL - answerthird party logistics provider
economies of scale - answerreduction in average cost per unit when volumes are
increased
fundamental concept of logistics management - answerthere are trade offs among many
of the logistics costs and customer service targets
safety stock - answerthe expected number of units on hand just before a replenishment
is received and available for use of sale
(not expected to sell)
a process is - answeran ordered set of activities
supply chain - answera set of 3 or more organizations directly linked by one or more of
the upstream and downstream flows of products, services, finances, and information
form source to customer
4 pillars of supply chain excellence - answerhuman resources,
organizational design,
information technology,
organizational measurement
responsivesness in the 4 Rs - answerchange logistics and supply chain management
activities quickly
supply chain flows - answerproduct flow
information flow
cash flow
, demand flow
supply chain is about managing - answerrisks
relationships
tradeoffs
supply chain risks - answerdesign
quality
cost
availability
financial
legal
manufacturability
supply
environmental
health
safety
strategic items - answerhigh value
few suppliers
essential
leverage items - answerhigh value
many suppliers
longer contracts
cooperative relationship
transaction items - answerlow value
few suppliers
try to reduce transaction cost
relationships are of not much concern
market items - answerlow value
many suppliers
competitive and price focused relationships
short contracts
5 common SC trade offs - answerlot size (inventory)
inventory-transport cost
lead time-transport costs
product variety-inventory
cost-customer service
external forces that drive change in supply chain - answerorganization consolidation,
technology,
globalization,
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