Exam (elaborations)
SCM 300 Exam 1 Study Guide.
- Course
- Institution
SCM 300 Exam 1 Study Guide.
[Show more]
Seller
Follow
modockochieng06
Content preview
SCM 300 Exam 1 Study GuideSupply Chain Management (SCM) - CORRECT ANSWER-The management of
information flows between and among activities in a supply chain to maximize
total supply chain effectiveness and profitability
procurement - CORRECT ANSWER-Purchases inputs such as raw materials,
resources, equipment, and supplies
Operations - CORRECT ANSWER-Transforms raw materials or inputs into goods
and services
Logistics - CORRECT ANSWER-Those activities that focus on getting the right
amount of the right products to the right place at the right time at the lowest
possible cost
Reverse Logistics - CORRECT ANSWER-A process of reclaiming recyclable and
reusable materials, returns, and reworks from the point of consumption or use for
repair, remanufacturing, redistribution, or disposal
Global SCM - CORRECT ANSWER-The distribution of goods and services
throughout a trans-national company
1st Tier Supplier - CORRECT ANSWER-Companies direct supplier
2nd Tier Supplier - CORRECT ANSWER-A firm that provides goods and/or
services to a company's first-tier supplier.
Upstream vs. Downstream - CORRECT ANSWER--Upstream: the direction that
points toward the suppliers.
-Downstream: the direction that points toward the end consumer
Three SCM Flows - CORRECT ANSWER-Materials, Money, and Information
, Business Model - CORRECT ANSWER-Outlines the need the firm will fill, the
operations of the business, its components and functions, as well as the
expected revenues and expenses
Business Model - Basic Types - CORRECT ANSWER-
Supply Chain Visibility - CORRECT ANSWER-The ability of all organizations in a
supply chain to access or view relevant data on purchased materials as these
materials move through their suppliers' production processes.
Profit and ROI's relationship to SCM - CORRECT ANSWER--Profit: SC plays a
role in controlling types of costs that ensure manufacturing and delivery, which
can increase profit.
-ROI: SC seek to help maximize ROI, by creating great products and delivering
them quickly, customers may be willing to pay more.
Stakeholders - CORRECT ANSWER-All the people who stand to gain or lose by
the policies and activities of a business and whose concerns the business needs
to address.
Competitive Priorities - CORRECT ANSWER-Cost, Quality, Time/Speed,
Flexibility
Core Competencies - CORRECT ANSWER-Things a company does extremely
well, which sometimes give it an advantage over its competition
Productivity vs. Value - CORRECT ANSWER--Productivity: maximize the amount
of outputs that can be produced and delivered to market while minimizing the
required inputs.
-Value: ratio of "output purchased"/ "inputs used to purchase"
Primary Supply Chain Goals - CORRECT ANSWER-Sustainable long term
profits and/or Maximize return on investment
Seven Types of Waste - CORRECT ANSWER-(1) Defects: poorly manufactured
products are garbage
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 modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77764 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now