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BUAD 331 Exam with Right Answers

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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...

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  • April 30, 2024
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  • 2023/2024
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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

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