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SCM 303 Exam 1 MSU FS18 |Questions with 100% Correct Answers
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SCM 303 Exam 1 MSU FS18 |Questions with 100% Correct Answers
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SCM 303 Exam 1 MSU FS18 |Questions with100% Correct Answers
TCO - ✔️✔️Total Cost of Ownership: what does it cost to buy that product/service (including
things like maintenance)
Operations management - ✔️✔️the planning, scheduling, and control of the activities that
transform inputs into finished goods and services
supply chain management (book) - ✔️✔️The active management of supply chain activities and
relationships in order to maximize customer value and achieve a sustainable competitive
advantage
supply chain (book) - ✔️✔️A network of manufacturers and service providers that work together
to create products or services needed by end users. These manufacturers and service providers
are linked together through physical flows, information flows, and monetary flows
first-tier supplier - ✔️✔️a supplier that provides products or services directly to a firm
second-tier supplier - ✔️✔️a supplier that provides products or services to a firm's first-tier
supplier
SCOR - ✔️✔️supply chain operations reference model: planning, sourcing, make, delivery, return
agility - ✔️✔️the ability to recalculate plans in the face of market, demand and supply volatility
and deliver the same or comparable cost, quality and customer service
quick response to changes
APICS - ✔️✔️Association for Operations Management
, ISM - ✔️✔️Institute for Supply Management
CSCMP - ✔️✔️Council of Supply Chain Management Professionals
ASQ - ✔️✔️American Society for Quality
reverse logistics - ✔️✔️process flow that occurs for returns
dunnage - ✔️✔️packaging materials
process - ✔️✔️a system of structured activities that use resources to transform inputs into
outputs
_________ undergo transformation - ✔️✔️inputs
_________ are used to transform inputs - ✔️✔️resources
process thinking - ✔️✔️views activities in an organization as a collection of processes
batching - ✔️✔️Process of producing large quantities of items as a group before being
transferred to the next operation
capacity - ✔️✔️amount of output that can be created by a process at a given level of resources
over a period of time (units/time)
bottleneck - ✔️✔️any activity, input, or resource that limits capacity (the ability of the process to
generate output)
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