Supply Chain Management - the management of upstream and downstream relationship with suppliers and customers order to deliver superior customer value at less cost to supply chain as a whole
Demand chain management - should be the name because the chain should be driven by the market not the s...
BUAD 331 Exam with Right Answers
Supply Chain Management - ✅✅ the management of upstream and downstream
relationship with suppliers and customers order to deliver superior customer value
at less cost to supply chain as a whole
Demand chain management - ✅✅ should be the name because the chain should be
driven by the market not the suppliers
Porter's Supply Chain Management - ✅✅ firm the delivers value to its customers
by performing these activities in a more efficient way than its competitors or in a
unique way
The 3 C's - ✅✅ 1.Customers
-Needs
-Seek benefits for acceptable prices
2. Competitor
-Assets
- Utilization of assets
3. Company
-Assets
-Utilizes good products that no longer sell themselves
Competitors are more popular in an industry when their sector tends to be - ✅✅
the lowest-cost producer or the supplier providing a product with the greatest
differentiated values
When a company is successful they either have a cost-advantage or value
advantage or ________ - ✅✅ both
Cost Advantage - ✅✅ One competitor that has the ability to be the low-cost
producer
· This competitor has the greatest sales volume in the sector
· Experience curve
Identities how to predict improvements in the rate of the output of workers as they
become more skilled in their job
Value Advantage - ✅✅ Customers buy benefits
, · Buy products for the promise of achieving a goal
Ability to create better service and lower cost//assets
Time Utility - ✅✅ *Ensuring product availability when it is ordered
* Demands vary on weather, seasons and everyday wants/needs
Place Utility - ✅✅ Value placed on the company a product is purchased from.
*Stores allow consumers to have easier access to purchasing products by not
having them need to go to the warehouse
Form Utility - ✅✅ Value of a finished product
* Consumer buys whole product so they don't have to buy the individual parts
* Fiji Water
Integration - ✅✅ Establishment and implementation of "end to end" planning
framework
* Links and coordinates to extend upstream to suppliers and downstream to
customers
* Filled with inventory
Operation - ✅✅ Creating demand
* Customer satisfaction and sales
* Upstreamà procurement, raw materials to products
Supply Chain vs Logistics - ✅✅ Logistics is a specialized part of the entire
process. It focuses on the transportation and storage of goods
The 4 R's - ✅✅ Risk, Relationship, Responsible and Reliable
Service - ✅✅ Availability, support and commitment that is provided to customers
Cost - ✅✅ Transaction costs including the price and life cycle costs
Time - ✅✅ The time it takes for the store to respond to the customers wants and
needs for order
80/20 Rule - ✅✅ 20% of costs come from custs
Inventories - ✅✅ About half or more of a company's current assets are tied up in
inventory
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kharowl. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
