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SCM 300 Final Exam With 100% Correct And Verified Answers
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SCM 300 Final Exam With 100% Correct And Verified Answers
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SCM 300 Final Exam With 100% CorrectAnd Verified Answers
Competitive Priorities - Correct Answer-1. Cost
2. Quality
3. Speed/Time
4. Flexibility
Productivity and Value - Correct Answer-Organization vs.
Customer
Productivity: Supplier Perspective- what did I get? / What is the
price? Output/input
Value: Customer Perspective- what did I make? /What was the
cost?
What is SCM - Correct Answer-The efficient integration of
supplier's manufacturers, transporters, DC, warehouses, retailers,
and all other parties associated in delivering the final good or
service.
Operations Management - Correct Answer-Design, operations, and
improvement of product systems that efficiently transform inputs
into finished goods and services which leads to maximizing
productivity.
Logistics - Correct Answer-Is the COORDINATED Planning and
Execution of product distribution, preparation of packaged product,
transport and warehousing.
Procurement - Correct Answer-The process of obtaining services,
supplies, and equipment in conformance with corporate regulations.
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,Upstream - Correct Answer-Stage of the production process
involves searching for and extracting raw materials.
Downstream - Correct Answer-Stage in the production process
involves processing the materials collected during the upstream
stage into a finished product
Reverse Logistics - Correct Answer-The process of planning,
implementing, and controlling the efficient, cost effective flow of raw
materials, in-process inventory, finished goods and related
information from the point of consumption to the point of origin for
the purpose of recapturing value or proper disposal.
1st Tier Supplier - Correct Answer-Companies direct supplier
2nd Tier Supplier - Correct Answer-Provide tier 1 with supplies
Safety Stock - Correct Answer-Insurance inventory
Pipeline Inventory - Correct Answer-Inventory in transit; , orders
that have been placed but not yet received or paid for by the
customer
Vertical Integration - Correct Answer-A company taking on
additional supply chain responsibilities that used to be done by
outside parties
Benefits of High Inventory Levels - Correct Answer->>Higher levels
of customer service
>>Quantity discounts
>>Fewer orders placed
>>Greater security for demand variability
(Cons for Low): BUYING the Inventory - Cost to purchase
(consider quantity discounts) •STOCKING OUT - Poor customer
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,service levels, PAYING the Purchasing People- Costs to order
inventory, TRANSPORTATION: Ease, Cost
Benefits of Low Inventory Levels - Correct Answer->>Less storage space
>>Lower change of obsolesence
>>Less materials handling requirments
>>More money available for investment opportunities
(Pros for Low): Cost of holding Inventory, Materials handling - Cost to
handle inventory, loss of Inventory -
Shrinkage/Obsolescence, ties up your cash - Capital
investment options
What is the EOQ? - Correct Answer-Economic Order
Quantity, the optimal order size, using it you will
get the lowest total cost for the given cost
structure and demand forecast. When annual
holding costs=annual ordering costs you get the
EOQ.
What does it mean if AHC > AOC? Increase or
decrease Q? - Correct Answer-You would lower
quantity, because it is above the EOQ.
What does it mean if AHC < AOC? Increase or
decrease Q? - Correct Answer-You should increase
quantity, because it below the EOQ.
What should be considered in choosing a supplier?
- Correct Answer->>Cost
>>Quality
>>Location
>>Innovation
>>Flexibility
>>Speed ect..
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, Cost, Quality, location, innovation, flexibility,
speed, core competencies, time, reliability,
commitment to improvement, etc.
Line Flow - Correct Answer-Demand: Standard
Items, High Volumes, Static Industry. Layout:
Product Focused/Line Flow Layouts.
Manufacturing system: Assembly Lines, Continuous
Flow Systems.
Make-to-stock systems.
Key points: Low per unit Cost(long-term),
Consistent Quality, Fast Production Rates, Minimal
Customization Opportunities, Product Lines very
consistent, Make-to-Stock, Start -up costs may be
very high
Flexible Flow - Correct Answer-Demand:
Customized Items, Low Volumes, Dynamic Industry.
Layout: Process Focused/Flexible Flow Layouts.
Manufacturing system: Job Shops.
Make-to-order system.
Key points: High per unit cost, High performance
and design, Slow production rates, Customization
opportunities likely, difference between products
may be great, Make-to-order, Start-up costs
relatively low.
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