Exam (elaborations)
SCM 300 Exam 1 Modules 1-4 (Davila).
SCM 300 Exam 1 Modules 1-4 (Davila).
[Show more]
Seller
Follow
Content preview
SCM 300 Exam 1 Modules 1-4 (Davila)Supply Chain Management - CORRECT ANSWER-the management of the chain of supplies
buy it -> make it -> move it -> sell it -> service it - CORRECT ANSWER-SCM Flows/Strategy
1. cost
2. quality
3. speed/time
4. flexibility - CORRECT ANSWER-Competitive Priorities
value (what i get/price) - CORRECT ANSWER-customers perspective
productivity (what i make/cost) - CORRECT ANSWER-organization perspective
1. Procurement
2. Operations
3. Logistics - CORRECT ANSWER-SCM Key Components
Procurement (buy it) - CORRECT ANSWER-process of obtaining services, supplies, and
equipment in conformance with corporate regulations
Operations (make it) - CORRECT ANSWER-makes business processes effective and efficient.
They help the organization create high quality products/ services using the fewest resources
Logistics (move it) - CORRECT ANSWER-developing the transportation itinerary and finding
reliable transportation and storage partners, to be able to navigate the flow of materials to the
final destination
purchasing -> production -> distribution -> retail sales - CORRECT ANSWER-The Supply Chain
The efficient integration of the Supply Chain - CORRECT ANSWER-SCM Def
satisfy the customer, satisfy the company, consider the future - CORRECT
ANSWER-Successful SC Manager
sustainable long term profits and maimize ROI - CORRECT ANSWER-Corporation Goals
Reverse Logistics - CORRECT ANSWER-reuse of production and materials
1st Tier Suppliers - CORRECT ANSWER-a company's direct supplier. A firm that directly
provides goods and/ or services to a company
, 2nd Tier Suppliers - CORRECT ANSWER-a firm provides goods and/ or services to a
company's first-tier supplier
Downstream - CORRECT ANSWER-direction in which products flow towards an end consumer.
Direction is the right.
Storage and consolidation/sorting
picking and packing, labeling
Upstream - CORRECT ANSWER-direction from customers to suppliers. Direction is the left
central return center AKA reverse logistics activities
Business model - CORRECT ANSWER-planning to purchase, transform, deliver, and sell
products with intent on making a profit
Supply Chain Visibility - CORRECT ANSWER-ability to see what is happening with inventory up
and down a supply chain
Profit - CORRECT ANSWER-Formula: profit = revenue - cost. If supply chain creates a
damaged product no one will buy it for a premium price, that's why it's important for the supply
chain to deliver the best products
ROI - CORRECT ANSWER-Formula: total profit/ total invest money. Return on investment- an
economic measure that helps evaluate the return of money. Scenario 1: 10/1,000 = 0.01
Scenario 2: 10/1 = 10 (good investment).
total profit/ total invest money - CORRECT ANSWER-ROI Formula
profit= revenue - cost - CORRECT ANSWER-Profits Formula
Delivery time - CORRECT ANSWER-from order placement to order fulfillment
1. defaults
2. overproduction
3. transportation (moving products may involve damage or theft)
4. motion (employees get tired thus get injured)
5. waiting (work in process finished to soon and is waiting to be finished)
6. inventory (not providing return)
7. over processing (doing unnecessary work) - CORRECT ANSWER-7 types of waste
a. supply chain metrics: be able to report success or failure.
b. info technology tools: knowing what's happening in global supply chain
c. relationship management skills: being able to work with executives and employees at other
companies
d. financial resources: company needs to be willing to invest in supply chains.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller modockochieng06. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.27. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76710 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now