SCMT UARK EXAM 1
the objective of Walmart's early network design strategy was to - Answer- locate stores close to distribution centers
what is the theme throughout scmt - Answer- how logistics and supply chain management can be used to create a competitive advantage
the concept of supply c...
SCMT UARK EXAM 1
the objective of Walmart's early network design strategy was to - Answer- locate
stores close to distribution centers
what is the theme throughout scmt - Answer- how logistics and supply chain
management can be used to create a competitive advantage
the concept of supply chain management emerged - Answer- 1990's+
what external event led JB hunt to develop and launch their brokerage division and
decrease the size of their truck related assets? - Answer- recession of late 2000's
3PL - Answer- third party logistics provider
economies of scale - Answer- reduction in average cost per unit when volumes are
increased
fundamental concept of logistics management - Answer- there are trade offs among
many of the logistics costs and customer service targets
safety stock - Answer- the 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 - Answer- an ordered set of activities
supply chain - Answer- a 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 - Answer- human resources,
organizational design,
information technology,
organizational measurement
responsivesness in the 4 Rs - Answer- change logistics and supply chain
management activities quickly
strategic items - Answer- high value
few suppliers
essential
leverage items - Answer- high value
many suppliers
longer contracts
cooperative relationship
transaction items - Answer- low value
few suppliers
try to reduce transaction cost
relationships are of not much concern
market items - Answer- low value
many suppliers
competitive and price focused relationships
short contracts
5 common SC trade offs - Answer- lot size (inventory)
inventory-transport cost
lead time-transport costs
product variety-inventory
cost-customer service
external forces that drive change in supply chain - Answer- organization
consolidation,
technology,
globalization,
empowered consumers,
government policy & regulation,
energy & sustainability
logistics - Answer- management of the flow and storage of inventory so that total
costs are minimized and customer service targets are achieved (minimize total cost)
management - Answer- allocation of scarce resources
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