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477 Exam Questions and Complete Solutions Graded A+
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477 Exam Questions and Complete Solutions Graded A+
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477 ExamQuestions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,what is scm - Correct Answer: processes necessary to manage materials from their point of origin
through manufacturing and shipping to the final customer. consists of 3 channels
forecasting+sourcing+manu+dist+c satis=scm
what are the 3 channels of scm - Correct Answer: transaction: $ and legal
(how they will receive pymt and/or goods, choice of countries)
dist: delivery of goods
(suppliers further away means incr. cycle times, decr. predictability -> safety stock, diversify suppliers,
more long-term planning)
documentation and communication: info focused on timing
(different commercial infrastructure availabilities, choice of countries)
processes in scm - Correct Answer: materials mgmt, physical diet, strategic planning, channel mgmt,
coordination with 3PL/suppliers/retailers, implementation of IT
where did logistics begin - Correct Answer: military
two types of trade - Correct Answer: merchandise (manu and agri prod) [4X as big]
service (tourism, fin, transp, insurance, IT) - invisible
who is the #1 merchandise trader - Correct Answer: US
18th century - Correct Answer: absolute advantage - country is able to produce more efficiently than
others - adam smith
19th century - Correct Answer: comparative advantage - country can produce with a lower opportunity
cost than others - david ricardo
, 20th century - Correct Answer: postwar: factor endowment(land, labor, capital, entrepreneurship) -
hecksher and ohlin
growth pd: international product life cycle
21st century - Correct Answer: cluster (a strategic view) and focus on customer service is now
paramount
drivers of globalization - Correct Answer: market force (high to low in costs and prices when gains
outweigh losses, competition in cust satisfaction can lead to economies of scale/scope and first mover
advantage)
tech changes (www, moors law, IT, containers, biz models [ie frnachises])
role of global institutions to facilitate (IMF, WTO, World Bank, ICC)
competitive environment
building capabilities (functional strategy)
liberalization and standardization - Correct Answer: Bretton Woods: IMF, World Bank,
GATT>WTO
Treaty of Rome: EU
NAFTA
UN Special Agencies (IMO) and Conventions (CISG- sale of goods)
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