Exam (elaborations)
Ch. 1 Supply Chain Management_ An Overview
- Module
- Master ASL! Unit 6
- Institution
- Master ASL! Unit 6
Ch. 1 Supply Chain Management_ An Overview
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Ch. 1 Supply Chain Management: AnOverview
Benchmarking - correct answer-The practice of copying what other businesses do best;
studying how things are done well in other firms to potentially make use of the same
methods.
bullwhip effect - correct answer-A term referring to ineffective communication between
buyers and suppliers and infrequent delivery of materials, combined with production based
on poor forecasts along a supply chain that results in either too little or too much inventory at
various points of storage and consumption. Simply, it causes an amplification of the variation
in the demand pattern along the supply chain.
business process reengineering (BPR) - correct answer-A radical rethinking and redesigning
of business processes that seeks to reduce waste and increase performance. The goal is to
create significant changes through assessments of current processes, design of better
processes using modeling techniques, implementation of the new processes, and continuing
performance assessments.
customer relationship management - correct answer-Managing a firm's customer base such
that customers remain satisfied and continue to purchase goods and services. Sometimes it
also refers to CRM software applications.
demand management - correct answer-A set of activities that range from determining or
estimating the demand from customers through converting specific customer orders into
promised delivery dates to help balance demand with supply.
distribution network - correct answer-The organization of a distribution system that ensures
successful product delivery.
enterprise resource planning (ERP) - correct answer-A packaged business software system
that lets a company automate and integrate the majority of its business processes, share
common data and practices across the enterprise and produce and access information in a
real-time environment.
ethical and sustainable sourcing - correct answer-The practice of purchasing from suppliers
that are governed by social and ethical practices.
fourth-party logistics providers (4PLs) - correct answer-Outside agents that manage all of a
firm's worldwide 3PL providers; also termed a lead logistics provider.
global supply chains - correct answer-Supply chains with foreign trading partners.
greenwashing - correct answer-lying about being green
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