Chilcutt OM 300 exam 3 Questions With Complete Solutions
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Course
OM 300
Institution
OM 300
Chilcutt OM 300 exam 3 Questions With
Complete Solutions
The Supply Chain's Strategic Importance supply chain management is the integration of
the activities that:
-procure materials and services
-transform them into intermediate goods and final products, &
-deliver them through a distribut...
Chilcutt OM 300 exam 3 Questions With
Complete Solutions
The Supply Chain's Strategic Importance supply chain management is the integration of
the activities that:
-procure materials and services
-transform them into intermediate goods and final products, &
-deliver them through a distribution system
activities performed as part of supply chain management 1. suppliers
2. distributors
3. warehousing and inventory
4. transportation vendors
5. order fulfilment
6. credit and cash transfers
7. accounts payable and receivable
8. sharing customer, forecasting, and production information
, Chilcutt OM 300 exam 3 Questions With
Complete Solutions
Outsourcing -transfers traditional internal activities and resources of a firm to outside
vendors
-utilizes the efficiency that comes with specialization
-firms outsource:
information technology, accounting, legal, logistics, & production
6 sourcing strategies 1. negotiating with many suppliers
2. long-term partnering with few suppliers
3. vertical integration
4. joint ventures
5. Keiretsu
6. virtual companies that use suppliers on an as needed basis
Many Suppliers -Commonly used for commodity products
-Purchasing is typically based on price
-Suppliers compete with one another
, Chilcutt OM 300 exam 3 Questions With
Complete Solutions
-Supplier is responsible for maintaining necessary levels of technology, expertise, forecasting
abilities, as well as cost, quality, and delivery competencies
Few Suppliers -Buyer forms longer term relationships with fewer suppliers
-Create value through economies of scale and learning curve improvements
-Suppliers more willing to participate in JIT programs and contribute design innovations and
technological expertise
-Cost of changing suppliers is huge
Trade secrets and other alliances
Vertical Integration -developing the ability to produce goods or services previously
purchased
-integration may be forward, towards the customers, or backwards, towards suppliers
-can improve cost, quality, and inventory but requires capital, managerial talent, and demand
-risky in industries with undergoing technological changes
joint venture -formal collaborations:
, Chilcutt OM 300 exam 3 Questions With
Complete Solutions
enhance skills, secure supply, & reduce costs
-cooperate without diluting the brand or conceding competitive advantage
Keiretsu Networks -part collaboration, part purchasing from few suppliers, and part
vertical integration
-supplier becomes part of the company coalition
-often provide financial support for suppliers through ownership or loans
-members expect long-term relationships and provide technical expertise and stable quality
production
-may extend through several tiers of the supply chain
Virtual Companies -Rely on a variety of good, stable relationships to provide services on
demand
-Exceptionally lean performance, specialized management expertise, low capital investment,
flexibility, and speed
supply chain risk -More reliance on supply chains means more risk
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