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SCM 300 Exam 1 with correct responses
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SCM 300 Exam 1 with correct responses
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SCM 300 Exam 1 with correct responsesSupply Chain Management (SCM) - correct answer -The management of
information flows between and among activities in a supply chain to
maximize total supply chain effectiveness and profitability
procurement - correct answer -Purchases inputs such as raw materials,
resources, equipment, and supplies
Operations - correct answer -Transforms raw materials or inputs into
goods and services
Logistics - correct 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 - correct 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 - correct answer -The distribution of goods and services
throughout a trans-national company
1st Tier Supplier - correct answer -Companies direct supplier
2nd Tier Supplier - correct answer -A firm that provides goods and/or
services to a company's first-tier supplier.
Upstream vs. Downstream - correct answer --Upstream: the direction that
points toward the suppliers.
-Downstream: the direction that points toward the end consumer
, Three SCM Flows - correct answer -Materials, Money, and Information
Business Model - correct 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 - correct answer -
Supply Chain Visibility - correct 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 - correct 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.
Stakeholders - correct 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 - correct answer -Cost, Quality, Time/Speed,
Flexibility
Core Competencies - correct answer -Things a company does extremely
well, which sometimes give it an advantage over its competition
Productivity vs. Value - correct 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 - correct answer -Sustainable long term profits
and/or Maximize return on investment
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