Exam (elaborations)
GSCM 200 Chapter 1 Exam with complete solutions 2024_2025
- Course
- Institution
GSCM 200 Chapter 1 Exam with complete solutions 2024_2025
[Show more]
Content preview
GSCM 200 Chapter 1 Exam with completesolutions 2024/2025
Supply Chain Management - ANSWER-Firms cooperating to create value for
customer
Operations Management - ANSWER-Managing transformation processes to
convert inputs into products and services
Process Design - ANSWER-Configuring inputs and resources in a way that
provides value, enhances quality, and is productive
- eliminates potential problems
Process Management - ANSWER-The act of executing and controlling the
productive functions of a firm
Process Control - ANSWER-The act of monitoring a process for its efficacy
- includes monitoring cost, timeliness, and quality
Process Improvement - ANSWER-a proactive effort to enhance process
performance
- motivated by a culture based need to do better
Supply Chain Globalization - ANSWER-Mechanisms firms are using in going
global
- Licencing
- Strategic Alliances (Joint Ventures)
- Globalization
- Outsourcing
- Near sourcing
, Licensing - ANSWER-The sale of a product under another trademark in another
region of the world.
- allows firms to reach international markets without having to establish foreign
supply chain.
Strategic Alliances (Joint Ventures) - ANSWER-Strategic partnerships with
suppliers and partners
- firms may partner with similar technology, products, or customers
Globalization - ANSWER-Increasing global presence by establishing operations in
other parts of the world
- establishing production and marketing facilities globally
- Take advantage of global markets
Outsourcing - ANSWER-The process of moving the production of an item to
another firm or producer
Near sourcing - ANSWER-Moving production geographically closer to where
products are sold
Sustainability - ANSWER-The proactive management of resources in an effort to
be environmentally friendly
Supply Chain Management - ANSWER-Suppliers - Manufacturers - Wholesalers -
Consumers
Upstream - Downstream
Value Chain - ANSWER-inbound logistics, transformation processes and
outbound logistics, the core of what a firm does.
Value - Added Activities - ANSWER-Are process the enhance products in a way
that makes them more valuable to customers because the products are better
suited to meet customers needs
-Ex: Forming raw iron into an engine
Supply Chain Flows - ANSWER-- Product Flows
- Monetary Flows
- Information Flows
Product Flows - ANSWER-Move from upstream to downstream and are generally
unidirectional
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 tuition. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78998 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now