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The University Of Alabama OM 300 Final Exam: Q’s And A’s (100% Accurate)
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The University Of Alabama OM 300 Final Exam: Q’s And A’s (100% Accurate)
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The University Of Alabama OM 300 Final Exam: Q’s AndA’s (100% Accurate)
Components of a supply chain network Right Ans - - Suppliers
- Manufacturers
- Distributors
What is outsourcing? Right Ans - - Transfers some of the internal activities
of a firm to outside vendors
- Uses specialization for efficiency so they can focus on core production
Many companies sourcing strategy for suppliers Right Ans - - Plays one
supplier against another so they compete
- Holds supplier responsible for technology, expertise, forecasting, cost,
quality, and delivery
- Long term relationships are not the goal
- Common with commodities
Few companies sourcing strategy for suppliers Right Ans - - Creating long
term relationships with few suppliers
- Suppliers particiapting in JIT programs and contribute expertise
- Beleive cost of changing partners is huge
- Have trade secrets and other alliances
What is vertical integration? Right Ans - - Developing the ability to produce
goods or services previously purchased within the company OR just buying
the supplier
-Two types: forward and backward
- Benefits: Cost reduction, higher quality, inventory reduction
-Works best when company has large market share
Forward integration Right Ans - Moving closer to the finished goods of
customers,
-Involves the purchase or control of DISTRIBUTORS moving to finished goods
Backward integration Right Ans - Purchasing of a SUPPLIER
-it can improve efficiency and save money (raw materials)
, Four stages of supplier selection for a company Right Ans - 1. Supplier
evaluation
2. Supplier development
3. Negotiations
4. Contracting
1. Supplier selection: Evaluation Right Ans - - Finding potential suppliers
and determining the likelihood of becoming good suppliers
-Strict evaluations of all types of things (ie; financial strength, management,
quality, etc...)
- May require internal or external certification! (3 step process) once certified
they are treated with priority
2. Supplier selection: Development Right Ans - - Ensuring the supplier has
the right equipment to produce quality items and can deliver on time
- Includes training, engineering and production help
3. Supplier selection: Negotiations Right Ans - -When price, delivery terms,
quality standards and advertising are discussed
-Cost based (time and materials)
-Market based (based on indexs ie; commodities)
-Competitive bidding (suppliers bid against each other)
4. Supplier selection: Contracting Right Ans - - Shares the risks and benefits
- Creates incentives to encourage supplier efficiency
- Spells out terms
- Goal is collboration
- Make pie bigger and then divide to all participants
Five distribution systems Right Ans - - Trucking: moves vast majority of
goods, flexibility
- Railraods: Large loads, unflexible
- Air: Fast, flexible. Expensive
- Water: Bulk cargo. Shipping cost > speed
- Pipelines: Oil, gas, chemicals
- Multimodal: Combines methods with Standardized containers
(international)
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