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SCM 300 Exam One Questions with correct Answers 2024
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SCM 300 Exam One Questions with correct Answers
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SCM 300 Exam One Questions withcorrect Answers
Supply Chain Management - Answer --Suppliers and Manufacturers
-Transporters, Distribution Centers, Warehouses
-Retailers and all other parties associated tasked with the successful delivery of the final
product and/or service.
-EFFICIENCY IS IMPOSSIBLE WITHOUT INTEGRATION
Procurement - Answer --The process of obtaining services, supplies, and equipment in
conformance with organizational regulations
Examples include:
Supplier selection
Purchasing negotiations
Managing supplier relationships - Motivation, Development
Materials/Inventory management
Operations
Operations - Answer --Design, operation, and improvement of the production systems
that efficiently transform INPUTS into Finished Goods and Services
Examples:
Process management, Plant management
Capacity planning - resources, speed (How much, how fast?)
Scheduling jobs/people
Waiting line management
Process improvement projects
Logisitics - Answer --The COORDINATED Planning and Execution of the following:
Preparation of Packaged Product
Movement Itinerary (Transport)
Storage Itinerary (Warehousing)
Product Distribution throughout the Supply Chain - Who gets what? When? How?
Examples
Distribution/Warehousing, Infrastructure Mgmt.
Packaging, containerization, transportation, documentation
Third-party management and communication
Reverse Logistics
,Reverse Logistics - Answer -Turn waste into something useful (ex. empty trucks driving
around)
Global Supply Chain Management - Answer -The coordination of the flow of raw
materials, components, semifinished goods, and finished products around the world.
First Tier Suppliers - Answer --A company's direct suppliers; typically, a firm that directly
provides goods and/or services to a company.
-Explained: These are suppliers that are one step to the left in the illustration above.
Thus, the manufacturer's first-tier suppliers are the companies designated S1. Similarly,
the first-tier suppliers of S1 firms are the S2 companies and a retailer's first-tier supplier
is their distributor.
Second Tier Suppliers - Answer --A firm that provides goods and/or services to a
company's first-tier supplier.
-These are suppliers that are two steps to the left in the illustration above. Thus, the
manufacturer's second-tier suppliers are the companies designated S2. Similarly, the
second-tier suppliers of the distributors are the S1 companies and the retailer's second-
tier supplier is the manufacturer. It is important to note that a weak S2 company can
create problems for their S1 customer. For example, if the S1 company is working with
a weak S2, they may have problems fulfilling the needs of the manufacturer. Poor
second-tier suppliers increase the risk-level of their customer's customer.
Downstream Supply Chain Management - Answer --In a supply chain, the direction that
points toward the end consumer.
-In the provided supply chain illustration, the downstream direction is to the right. In a
company, an executive that works in downstream supply chain management finds ways
to get goods and services closer to the customer in an effective and efficient manner.
Downstream activities might include: Delivering goods from a manufacturer to a
distributor, suppliers (S1) working to get parts prepared in time for manufacturers, and
distributors developing relationships with retailers so they can better understand the
retailer's supply chain needs.
Upstream Supply Chain Management - Answer --In a supply chain, the direction that
points toward the suppliers.
-In the provided supply chain illustration, the upstream direction is to the left. In a
company, an executive that works in upstream supply chain management might be
responsible for: Ensuring that empty boxes at the retail level are returned to the
distributor for reuse and developing relationships with a company's first-tier suppliers in
order to better communicate the needs of the present and the future.
Three SCM Flows - Answer -In order for supply chains to function and develop, three
things must continuously flow: materials, money and information. Explained: Supply
chains are known as systems or networks that are tasked with moving materials from
suppliers all the way to end customers, so it is rather obvious that if materials stop
flowing then the supply In order for supply chains to function and develop, three things
, must continuously flow: materials, money and information. Explained: Supply chains are
known as systems or networks that are tasked with moving materials from suppliers all
the way to end customers, so it is rather obvious that if materials stop flowing then the
supply
Business Model - Answer --A company's plan for how it will purchase items, transform
them, deliver them and sell them in an effort to produce a profit.
-Explained: Amazon.com vs. a traditional bookstore. Here is an example of two
companies that are in the same industry but that have different business models. Both
are trying to sell books, but their individual plans for accomplishing that goal are quite
different. As customers, we see two obvious differences in their business models -
purchase and delivery. We buy books from Amazon online and they are sent to our
home. We must travel to traditional bookstores and buy the book in a building. However,
if we look at other parts of their supply chain, we will likely see other differences in how
they distribute, buy and handle book returns. Business models often help define the
structure of a supply chain, so supply chain managers must understand their
importance. As an organization develops a business model it should consider the
following questions: ·
-Do we sell to individual consumers or to big companies? ·
-Do we sell online, in-stores, or both? ·
-Do customers make individual purchases or are they subscribers? ·
-Do you purchase a main part (razor) and then buy the other disposable parts (blades)
as needed?
-With every answer to these questions, the requirements of your supply chain take
shape.
SCM Visibility - Answer -The ability to see what is happening with inventory upstream
and downstream in a supply chain. Explained: Suppose you are the manager of a retail
hardware store and you are running low on garden tools right as the growing season is
beginning. As a manager, you want to know when the next shipment of garden tools will
arrive. You also want to know how many will arrive. If you can easily find that out, you
have a supply chain, or inventory, visibility. Knowing when that shipment of hammers
will arrive from a distributor is one thing, but if a top-level supply chain executive knows
the location of every hammer in the supply chain, that would be a much greater level of
supply chain visibility. Knowing how many are at each store, at each distribution center,
on each truck at this moment. Where are those trucks located? How many hammers are
at the manufacturing facility? How many are finished goods ready to leave the plant and
how many are work in process? How many parts are ready to ship from the suppliers...?
That information would allow for a significant level of inventory visibility. It is that level of
supply chain visibility which is extremely helpful in making good supply chain decisions.
Profit - Answer -Companies invest money to make and deliver products and/or services.
Materials, labor, real estate, machines, etc. these expenditures are called costs.
Companies then sell the products and/or services for money - this is revenue. The
difference between revenue and cost is profit. Explained: Most folks in business
understand that the goal of a business is to make a profit, to make more money than
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