SUPPLY CHAIN MANAGEMENT -
EXAM 1 / STRATEGIES REVIEW OF
KEY QUIZZES & CORRECT
ANSWERS.
Supply Chain -
Answer:
Network of manufacturers and service providers that work together to convert goods from raw material to end user. Linked through physical flows, information flows, and monetary flows.
Qs: Operations function -
Answer:
The collection of people, process, technology, and systems within an organization that has primary responsibility for providing products or services.
Qs: Inputs -
Answer:
-Materials -Intangible Needs -Information
Qs: Outputs -
Answer:
-Tangible Goods
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-Fulfilled Needs -Satisfied Customers
Qs: Operations Management -
Answer:
Planning, scheduling, and control of the activities that transform inputs into finished goods and services.
Qs: Upstream -
Answer:
Activities or firms positioned earlier in the supply chain relative to another activity or firm of interest.
Qs: Downstream -
Answer:
Activities or firms positioned later in the supply chain relative to another activity or firm of interest.
Qs: First-Tier Supplier -
Answer:
Supplier that provides products or services directly to a particular firm.
Qs: Second-Tier Supplier -
Answer:
Supplier that provides products or services to the firm that directly supplies your firm.
Qs: Supply Chain Management -
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Answer:
Active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage.
Qs: SCOR Model -
Answer:
A comprehensive model of the core management processes and individual process types that together define the domain of supply chain management.
Qs: Process Selection -
Answer:
Design and implement the transformation processes that best meet the needs of customers and the firm.
Qs: Forecasting -
Answer:
Develop the planning numbers needed for effective decision making.
Qs: Capacity Planning -
Answer:
Establish strategic capacity levels (bricks and mortar) and tactical capacity levels (workforce, inventory).
Qs: Inventory Management -
Answer:
Manage the amount and placement of inventory within the company and the supply chain.
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