Why is scm important 4 - Study guides, Class notes & Summaries

SCM in 4 Words : 1.) Plan 2.) Source 3.) Make 4.) Deliver What is SCM? : -The "art" of managing the flow of materials and products, information, and financial resources from the source to user • Suppliers → Manufacturers → Distributors → Retailers → Consumers • Not a science because consumers don't always act rationally Who is the most important participant in the Supply Chain? : -Consumer • If there is no demand from the customer, why would a product move through t...

SCMN 2150 Exam 1 Questions and Answers Graded A+ What is a supply chain? a collection of organizations, people, activities, information, and resources who is involved in the supply chain? customers, retailers, manufacturers, and suppliers what is supply chain management? All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? SCM helps companies outpace the competition (better, faster, ...

What is a supply chain? : a collection of organizations, people, activities, information, and resources who is involved in the supply chain? : customers, retailers, manufacturers, and suppliers what is supply chain management? : All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? : SCM helps companies outpace the competition (better, faster, cheaper) essential activities in a supply chain ...

SCM 300 Exam 1 Modules 1-4 (Davila) Study Guide Solutions Supply Chain Management - ANSWER-the management of the chain of supplies buy it -> make it -> move it -> sell it -> service it - ANSWER-SCM Flows/Strategy 1. cost 2. quality 3. speed/time 4. flexibility - ANSWER-Competitive Priorities value (what i get/price) - ANSWER-customers perspective productivity (what i make/cost) - ANSWER-organization perspective 1. Procurement 2. Operations 3. Logistics - ANSWER-SCM Key Co...

What is Supply Chain Management? : the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) : It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competitive advantage: : requires delivering more value and satisfaction t...

SCMN 2150: Exam 1 Modules 1-4 Robert Straw Questions and Answers 100% Pass According to the Module 1 readings, what benefit is achieved by supply chain integration? A. reduced facility investment B. greater demand planning accuracy C. greater equipment utilization D. rationalized product handling B. greater demand planning accuracy According to the Module 1 readings, the ______ process focuses on minimizing the number of items that enter a backward flow due to defects, being out...

SCMN 2150 Brian Gibson test 1 Exam Review Questions & Answers What is Supply Chain Management? - ANS-the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) - ANS-It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Comp...

SCMN 3150 Test 1 Questions and Answers 100% Pass What is SCM and why is it important? SCM is the "art" of managing the flow of materials and products, information and money from source to user, and it is important because it is the source of customer satisfaction, cost reductions, and revenue increases Who are the key participants in the supply chain? suppliers, manufacturers, distributors, retailers, and consumers What are the primary processes of the supply chain? planning, pr...

What is Supply Chain Management? - Answer- the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) - Answer- It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competitive advantage: - Answer- requires delivering more value...

What is a supply chain? - Answer-a collection of organizations, people, activities, information, and resources who is involved in the supply chain? - Answer-customers, retailers, manufacturers, and suppliers what is supply chain management? - Answer-All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? - Answer-SCM helps companies outpace the competition (better, faster, cheaper) essential activ...