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SCM 303 EXAM QUESTIONS AND 100% CORRECT ANSWERS
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SCM 303 EXAM QUESTIONS AND 100%CORRECT ANSWERS
Where are supply chains found? - ANS In a wide variety of businesses
Upstream - ANS towards suppliers
Downstream - ANS towards customers
Why was the silk road or the spice trade viable? - ANS because the goods being
transported were very highly valued
The tradability of goods. - ANS has been increasing over time
Why were supply chains localized before 1800? - ANSWER because
travel/communications over long distance was very difficult/expensive
Who coined the term "Supply Chain" in 1982? - ANSWER Booz Allen Hamilton
consultants
Do all major companies define their supply chain organizations the same way? -
ANSWER No
Why is SCM at MSU ranked #1 in the US? ANSWER Various factors include recruiters
rating MSU as a great place to hire, student placement rates extremely high, MSU SCM
curriculum comprehensive in content, and faculties at Broad & MSU SCM publish a lot in
top journals.
,What are some of the common challenges in SCM? - ANSWER a) how to meet customer
requirements, b) how to lower costs while improving quality, and c) how to align supply
chains with the corporate competitive strategy.
Which of the different strategies has the longest time horizon? - ANSWER The corporate
strategy
Total Cost Concept - ANSWER transaction cost, salvage cost, purchase cost, operating
cost.
Time-to-market lead time - ANSWER the total time it takes for a form to conceive,
design, test, produce, and deliver a new or revised product
Efficient supply chain design - ANSWER matches functional products
Responsive supply chain design - ANSWER matches innovative products
Order qualifiers - ANSWER the minimum standards to be met
Supply chain strategy components - ANSWER value proposition, critical customer, and
capabilities
Quality - ANSWER is a question of individual perception, hence there cannot be a
specific answer about "what is the best quality amongst a group of homogeneous
products"
Sequence from top to bottom of hierarchy - ANSWER Corporate strategy, business unit
strategy and functional strategy
Value proposition - ANSWER a collection of features including features that customers
value and pay for, source of differentiation that is difficult to imitate, satisfy financial and
,strategic from objectives and deliverable by using the firms capabilities and supply
chain
Triple A supply chain - ANSWER Adaptability refers to "adjust to structural changes"
Sequential process flow - ANSWER cannot perform all the tests simultaneously
Parallel process flow - ANSWER many tasks can be done simultaneously
A value of a flow chart help you. - ANSWER 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 - ANSWER -minimize setup time and maximize running time
-operating efficiency also labor efficiency
-learning curve of companies to be more efficient to produce products or deliver
services in lots
-more efficient methods of operation
.
Bottleneck - ANSWER worker, skill type, machine, facility, and so on
.
Blocking and starving result in. - ANSWER loss of operational efficiency
.
Process forms - ANSWER innovation, procurement, manufacturing, order fulfillment,
and accounts payable
What does process flow charts help ask? - ANSWER -How is the decision being made?
, -Is this the way we really do it?
-Why do we do it this way?
-Why do we do that step?
Sequential process flow - ANSWER All tasks can't be performed simultaneously but
multiple tasks can be done at a time in a parallel process flow
Cycle Time - ANSWER expressed in time per unit
Process capacity - ANSWER expressed in units per time
Bottleneck - ANSWER the task with the greatest cycle time in a process
Possible bottleneck - ANSWER can be almost input or resource in a process including
workers, skill types, machines, facilities
System cycle time is the same as what? - ANSWER Bottleneck cycle time
What do bottlenecks cause? - ANSWER blocking upstream and starving downstream
What causes the operational efficiency to be lower? - ANSWER blocking and starving
Why do firms produce products in batches? - ANSWER -to minimize setup time and
maximize running time
-reach operational efficiency along with labor efficiency
-they can get a better learning curve advantage
What can be said about larger batches? - ANSWER -The operating process will be more
efficient
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