utk buad 331 exam 1 Questions With Complete Solutions
supply chain correct answer: consists of organizations, people,
activities, information, and resources involved in moving a product or service from the origins of supply all the way to the point of final consumption.
SCM refers to... correct answer: components that are closer to
the raw materials as being "upstream" and those that occur closer to the customer as being "downstream."
supply chain management correct answer: is the systematic
coordination of traditional business functions within a particular organization and across organizations within the supply chain for the purposes of improving the long-term performance of the individual enterprises and the system as a whole
Amazon correct answer: technology company merged with a
supply chain
increasing value advantage correct answer: Tailored service,
reliability, responsiveness
increasing productivity advantage correct answer: Capacity
utilization, asset turns, integration
4 ways SCM impacts financial performance correct answer: 1.
increase customer service 1 / 2
- reduce working capital
- reduce total costs
- reduce fixed capital
Evolution of Supply Chain Management correct answer:
functional focus, emerging from the operational areas of procurement, manufacturing, and logistics
SCM Today correct answer: an integrated end-to-end concept
that crosses not only internal functional boundaries but also organizations that include suppliers' suppliers, suppliers to customers and end-consumers and all the intermediary goods and service firms in between
SCOR correct answer: plan, source, make, deliver, return
Digitization correct answer: is related to the ability to structure
and exchange massive amounts of data, to make sense of that data to drive decisions, and even to apply data to deliver products or services.
advanced automation and robotics correct answer: are creating
previously unattainable levels of speed and agility in operations with improved quality levels that have the potential to drive productivity to new levels.
Additive manufacturing (3D printing) correct answer: has the
potential to change the basic economics of the job shop operating environment, enabling highly specific machining on site quickly and at low cost.
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