- | Page
SCMN 2150: Exam 1 Modules 1-4 Robert Straw
Questions and Answers 100% Pass
Question : What is supply chain?
CORRECT ANSWER : An integrated collection of
organizations, people, activities, information, and resources. It includes customers, retailers, manufacturers, and suppliers.
Question : What is Supply Chain Management
CORRECT ANSWER : The "art" of managing the flow of
materials and products, information, and financial resources from the source to user
Question : Strategies to achieve BETTER, FASTER, and
CHEAPER
CORRECT ANSWER : SCM help companies outpace the
competition by managing their materials, product, and information flows
Question : What are the challenges of supply chain
management?
CORRECT ANSW ER: 1. Product life cycles are shrinking
- Customers are demanding customized products
- | Page
- Competition is intensifying
- Companies need to be much more efficient
Question : Essential activities of Supply Chain
CORRECT ANSWER : 1. Planning and forecasting
- Supply management and procurement
- Operations management and production
- Logistics and transportation
Question : Why is SCMN important to customers?
CORRECT ANSWER : Product Availability (Time utility and
Place utility) and Fulfillment Accuracy
Question : Who us the most important participant in Supply
Chain?
CORRECT ANSWER : Consumer
Question : Seven Rights of Fulfillment Accuracy
CORRECT ANSWER : Right Product Right Customer Right
Time Right Place Right Condition Right Quantity Right Cost
- | Page
Question : Best Supply Chains: Gartner Rating of Supply Chain (reading one)
CORRECT ANSWER : Highlight the top companies that excel
in supply chain management with agile strategies that allow organization and flexibility. Cisco, Colgate-Palmolive, Johnson and Johnson are the top three. Amazon, Apple, Macdonalds, P&G, and Unilever are part of the master group achieving top five scores in 7 of the last 10 years.
Question : What are the three key flows of Supply Chain?
CORRECT ANSWER : Product, Information, and Money
(financial resources)
Question : What is the logistics network?
CORRECT ANSWER : The sequence or system of
organizations or operations that work together to design, produce, and deliver a product or service to a market, extending from the extraction of raw materials to the distribution of finished products or services.
Question : What us a Link?
- | Page
CORRECT ANSWER : The transportation method used to
connect the nodes (plants, warehouses, stores) in a supply chain
Question : What is a Node
CORRECT ANSWER : A fixed point in a supply chain where
valued added processes take place. Goods are processed, transformed, mixed, held, or sold at nodes.
Question : What are the advantages a centralized network design
CORRECT ANSWER: - Lower inventory and safety stock
levels - Single location creates better visibility - Lower of head stock - Less labor - Smaller management team - Economies of scale
Question : What are the challenges a centralized network design
CORRECT ANSWER : - Longer lead times - Higher delivery
costs - Potential inefficiencies as single facility grows - Potential issues with regional customers
Question : What are the advantages a decentralized network
design