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SCM 300 Exam 1 Module 1 With 100% Correct And Verified Answers
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SCM 300 Exam 1 Module 1 With 100% Correct And Verified Answers
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SCM 300 Exam 1 Module 1 With 100%Correct And Verified Answers
Supply Chain Management (SCM): - Correct
Answer-"The effective and efficient integration of
the suppliers, manufacturers, transportation
organizations as well as the other parties
responsible for collectively bringing products and
services to market."
Procurement - Correct Answer-"The branch of an
organization responsible for acquiring materials,
equipment, products, and services. This would
entail finding suppliers, choosing the supplier that
offers the best value, negotiating the terms of the
purchase, placing orders, and developing long-term
relationships with suppliers so that consistent and
improved quality can be expected from their
suppliers over a long period of time."
Operations - Correct Answer-"The branch of the
supply chain responsible for making business
processes effective and efficient. In essence,
operations seeks to help the organization create
high quality products and/or services using the
fewest resources possible."
Logistics - Correct Answer-"The branch of the
supply chain responsible for developing the
transportation itinerary and finding the appropriate
transportation and storage partners to successfully
navigate the flow of materials from the point of
origin to the final destination."
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, Reverse Logistics - Correct Answer-"The
management of products that flow backward in the
supply chain, away from the consumer and back in
the direction of manufacturers. (The management
of materials moving upstream in the supply chain)"
Global SCM - Correct Answer-"When suppliers,
manufacturers, transportation companies,
warehouse and distribution centers, retailers, and
other supply chain partners span across multiple
countries and/or continents, those are considered
global supply chains. Effective and efficient management of
supply chain partners across multiple countries can offer both competitive
advantages as well as complicating circumstances."
1st-tier and 2nd-tier suppliers - Correct Answer-"A company's direct
suppliers. A firm that directly provides goods and/or services to a
company."
2nd trier "A firm that provides goods and/or services to a company's first-
tier supplier."
Upstream - Correct Answer-"In a supply chain, the direction that points
toward the suppliers."
Downstream - Correct Answer-"In a supply chain, the direction that points
toward the end consumer."
Three SCM Flows - Correct Answer-"In order for supply chains to function
and develop, three things must continuously flow: Materials, Money, and
Information"
Business Model - Correct Answer-"A company's plan for how it will
purchase items, transform them, deliver them, and sell them in an effort to
produce a profit."
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