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SCMT UARK EXAM 1 QUESTIONS AND ANSWERS
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SCMT UARK EXAM 1 QUESTIONS AND ANSWERS
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SCMT UARK EXAM 1 QUESTIONS AND ANSWERSThe objective of Walmart's early network design strategy was to - Answers- locate
stores close to distribution centers
What is the theme throughout scmt - Answers- how logistics and supply chain
management can be used to create a competitive advantage
The concept of supply chain management emerged - Answers- 1990's+
What external event led JB hunt to develop and launch their brokerage division and
decrease the size of their truck related assets? - Answers- recession of late 2000's
3PL - Answers- third party logistics provider
Economies of scale - Answers- reduction in average cost per unit when volumes are
increased
Fundamental concept of logistics management - Answers- there are trade offs among
many of the logistics costs and customer service targets
Safety stock - Answers- the expected number of units on hand just before a
replenishment is received and available for use of sale
(not expected to sell)
A process is - Answers- an ordered set of activities
Supply chain - Answers- a set of 3 or more organizations directly linked by one or more
of the upstream and downstream flows of products, services, finances, and information
form source to customer
4 pillars of supply chain excellence - Answers- human resources,
Organizational design,
Information technology,
Organizational measurement
Responsivesness in the 4 Rs - Answers- change logistics and supply chain
management activities quickly
Supply chain flows - Answers- product flow
Information flow
Cash flow
Demand flow
Supply chain is about managing - Answers- risks
Relationships
, Tradeoffs
Supply chain risks - Answers- design
Quality
Cost
Availability
Financial
Legal
Manufacturability
Supply
Environmental
Health
Safety
Strategic items - Answers- high value
Few suppliers
Essential
Leverage items - Answers- high value
Many suppliers
Longer contracts
Cooperative relationship
Transaction items - Answers- low value
Few suppliers
Try to reduce transaction cost
Relationships are of not much concern
Market items - Answers- low value
Many suppliers
Competitive and price focused relationships
Short contracts
5 common SC trade offs - Answers- lot size (inventory)
Inventory-transport cost
Lead time-transport costs
Product variety-inventory
Cost-customer service
External forces that drive change in supply chain - Answers- organization consolidation,
Technology,
Globalization,
Empowered consumers,
Government policy & regulation,
Energy & sustainability
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