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SCM 300 Exam 1 Study Guide Solutions Updated 2024 Supply Chain Management (SCM) - ANSWER-The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability procurement - ANSWER-Purchases inputs such as raw materials...

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  • November 13, 2024
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SCM 300 Exam 1 Study Guide
Solutions Updated 2024

Supply Chain Management (SCM) - ANSWER✔✔-The management of information

flows between and among activities in a supply chain to maximize total supply chain

effectiveness and profitability


procurement - ANSWER✔✔-Purchases inputs such as raw materials, resources,

equipment, and supplies


Operations - ANSWER✔✔-Transforms raw materials or inputs into goods and services


Logistics - ANSWER✔✔-Those activities that focus on getting the right amount of the

right products to the right place at the right time at the lowest possible cost


Reverse Logistics - ANSWER✔✔-A process of reclaiming recyclable and reusable

materials, returns, and reworks from the point of consumption or use for repair,

remanufacturing, redistribution, or disposal


Global SCM - ANSWER✔✔-The distribution of goods and services throughout a trans-

national company


1st Tier Supplier - ANSWER✔✔-Companies direct supplier


Copyright ©EMILYCHARLENE2025. ALL RIGHTS RESERVED
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,2nd Tier Supplier - ANSWER✔✔-A firm that provides goods and/or services to a

company's first-tier supplier.


Upstream vs. Downstream - ANSWER✔✔--Upstream: the direction that points toward

the suppliers.


-Downstream: the direction that points toward the end consumer


Three SCM Flows - ANSWER✔✔-Materials, Money, and Information


Business Model - ANSWER✔✔-Outlines the need the firm will fill, the operations of the

business, its components and functions, as well as the expected revenues and expenses


Business Model - Basic Types - ANSWER✔✔-


Supply Chain Visibility - ANSWER✔✔-The ability of all organizations in a supply chain

to access or view relevant data on purchased materials as these materials move through

their suppliers' production processes.


Profit and ROI's relationship to SCM - ANSWER✔✔--Profit: SC plays a role in

controlling types of costs that ensure manufacturing and delivery, which can increase

profit.


-ROI: SC seek to help maximize ROI, by creating great products and delivering them

quickly, customers may be willing to pay more.




Copyright ©EMILYCHARLENE2025. ALL RIGHTS RESERVED
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, Stakeholders - ANSWER✔✔-All the people who stand to gain or lose by the policies

and activities of a business and whose concerns the business needs to address.


Competitive Priorities - ANSWER✔✔-Cost, Quality, Time/Speed, Flexibility


Core Competencies - ANSWER✔✔-Things a company does extremely well, which

sometimes give it an advantage over its competition


Productivity vs. Value - ANSWER✔✔--Productivity: maximize the amount of outputs

that can be produced and delivered to market while minimizing the required inputs.


-Value: ratio of "output purchased"/ "inputs used to purchase"


Primary Supply Chain Goals - ANSWER✔✔-Sustainable long term profits and/or

Maximize return on investment


Seven Types of Waste - ANSWER✔✔-(1) Defects: poorly manufactured products are

garbage


(2) Overproduction: making products no one needs is a waste of time, money, and effort


(3) Transportation: moving products doesn't make the product better, it incr. the

possibility of theft, damage, and loss


(4) Motion: if employees move too much in a SC they could get tired, injured, or be

wasting time




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