SCMN 2150 – STRAW EXAM 1 REVIEW
What is supply chain? - Answer- An integrated collection of organizations, people, activities, information, and resources. It includes customers, retailers, manufacturers, and suppliers.
What is Supply Chain Management - Answer- The "art" of managing the flow...
SCMN 2150 – STRAW EXAM 1 REVIEW
What is supply chain? - Answer- An integrated collection of organizations, people,
activities, information, and resources. It includes customers, retailers, manufacturers,
and suppliers.
What is Supply Chain Management - Answer- The "art" of managing the flow of
materials and products, information, and financial resources from the source to user
Strategies to achieve BETTER, FASTER, and CHEAPER - Answer- SCM help
companies outpace the competition by managing their materials, product, and
information flows
What are the challenges of supply chain management? - Answer- 1. Product life
cycles are shrinking
2. Customers are demanding customized products
3. Competition is intensifying
4. Companies need to be much more efficient
Essential activities of Supply Chain - Answer- 1. Planning and forecasting
2. Supply management and procurement
3. Operations management and production
4. Logistics and transportation
Why is SCMN important to customers? - Answer- Product Availability (Time utility
and Place utility) and Fulfillment Accuracy
Who us the most important participant in Supply Chain? - Answer- Consumer
Seven Rights of Fulfillment Accuracy - Answer- Right Product
Right Customer
Right Time
Right Place
Right Condition
Right Quantity
Right Cost
Best Supply Chains: Gartner Rating of Supply Chain (reading one) - Answer-
Highlight the top companies that excel in supply chain management with agile
strategies that allow organization and flexibility. Cisco, Colgate-Palmolive, Johnson
and Johnson are the top three. Amazon, Apple, Macdonalds, P&G, and Unilever are
part of the master group achieving top five scores in 7 of the last 10 years.
What are the three key flows of Supply Chain? - Answer- Product, Information, and
Money (financial resources)
What is the logistics network? - Answer- The sequence or system of organizations or
operations that work together to design, produce, and deliver a product or service to
, a market, extending from the extraction of raw materials to the distribution of finished
products or services.
What us a Link? - Answer- The transportation method used to connect the nodes
(plants, warehouses, stores) in a supply chain
What is a Node - Answer- A fixed point in a supply chain where valued added
processes take place. Goods are processed, transformed, mixed, held, or sold at
nodes.
What are the advantages a centralized network design - Answer- - Lower inventory
and safety stock levels
- Single location creates better visibility
- Lower of head stock
- Less labor
- Smaller management team
- Economies of scale
What are the challenges a centralized network design - Answer- - Longer lead times
- Higher delivery costs
- Potential inefficiencies as single facility grows
- Potential issues with regional customers
What are the advantages a decentralized network design - Answer- - CUSTOMER
PROXIMITY
- Shorter lead times
- Lower delivery costs
- Responsive to demand
What are the challenges a decentralized network design - Answer- - More safety in
stock in system
- Higher overhead costs
- more managers
-No economies of scale
RISK: Lack of control and coordination
Centralized vs. Decentralized network design characteristics - Answer- See image
for compare and contrast
Customer service compared to transportation costs - Answer- There needs to be a
balance, we cannot optimize both completely without sacrificing a little of each
What are the key takeaways of Network design - Answer- - Create adaptable
structure of links and nodes that can serve multiple customer segments
- Leverage capabilities of direct, cross dock, and traditional DCs based on product
requirements
- Share resources with industry partners
-Seek to minimize TOTAL SUPPLY CHAIN COST
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