Exam (elaborations)
MNP2602 Online assessments
- Course
- Institution
- Book
online assessments with model answers and references from textbook and study guide.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
MNP2602 ASSESSMENT 3 SEMESTER 1 2024
-
Principles of Supply Chain Management, Wisner - Exam Preparation Test Bank (Downloadable Doc)
-
MNP2602 EXAM PACK 2022
Seller
Follow
rutendodube031
Reviews received
Content preview
COMPILED BY FJMNP2602 ESSAY QSNS ONLINE ASSESSMENTS
Define the term supply chain management
Model Short Answer:
Answer: TUT 101, p. 16
Supply chain
The supply chain is a network of organisations that are involved, through upstream and
downstream linkages, in the different processes and activities that produce value in the
form of products and services that satisfy the ultimate customers’ needs.
Question 2 of 4 0.0 Points
List the four elements of supply chain management and provide a short explanation of
each of the four elements. What types of failures might each of those elements create
within the supply chain?
Model Short Answer: a. Supply Elements - Supply management professionals most often
perform the purchasing function. Effective supply management has resulted in smaller
supply bases and the development of more long-term supplier relationships to achieve
the competitive benefits. Supply management is one of the foundations of supply chain
management, since incoming material quality, delivery timing, purchase price, product
safety, and purchasing’s impact on the environment are all affected by the buyer-supplier
relationship and the capabilities of suppliers.
Some of the mistakes in purchasing can cause low-quality end-items, high inventories,
stockouts, excessive cost of goods sold, interruptions in production, or excessive
operational costs.
b. Operations Elements - The operations elements of the supply chain take into account
the assembly or processing of materials and components into finished products or
services. Operations is also responsible for creating the right amount of product within an
appropriate period of time that will meet the demand needs of the customer while still
satisfying their specific needs in terms of quality, cost, customization, and timely delivery.
, COMPILED BY FJ
Mistakes in operations can cause shortages, stockouts, high inventories, low inventories,
excessive operational costs, late deliveries, low-quality end-items, defects, or dangerous
end-items.
c. Logistics Elements - the distribution elements of the supply chain are focused on
delivering products to customers at the right time, quality, and volume. The distribution
elements include transportation, warehousing, break-bulking, packaging,
containerization, and any services related to developing and keeping a distribution
itinerary.
Mistakes in distribution can cause shortages, stockouts, excessive operational costs,
damaged end-items, high pilferage rates, customer complaints, delivery errors (wrong
item to the wrong destination), and lost inventory.
d. Integration Elements - The integration elements involve the planning and coordination
required to create a seamless supply chain. Supply chain integration requires
management to inform all supply chain parties of how important it is for them to share
information, articulate their needs, and develop relationships.
Poor supply chain integration will cause conflicts between supply chain partners, late
deliveries, tardy production, overproduction, under production, poor forecasting, over
purchasing, material shortages, long lead times, high operational costs, excessive waiting
times, and excessive inventories.
Question 3 of 4 3.0 Points
Name three risks associated with global supply chains.
Model Short Answer: Fluctuating exchange rates
Warehousing
Changes in traffics and taxes
Purchasing and selling prices
Government intervention
, COMPILED BY FJ
Security concerns
Feedback: Fluctuating exchange rates
Warehousing
Changes in traffics and taxes
Purchasing and selling prices
Government intervention
Security concerns
Question 4 of 4 4.0 Points
Discuss materials requirement planning (MRP) and enterprise resource planning (ERP).
Model Short Answer: MRP = Is a software application that performs an analysis of the
organisations’ existing internal conditions to report back on the production and purchasing
requirements are for a given finished product.
ERP = Is a packaged business software system that lets an organization automate and
integrate the majority of its business processes, share common data practices across the
organisation to produce and access information in real-time.
Feedback: MRP = Is a software application that performs an analysis of the organisations’
existing internal conditions to report back on the production and purchasing requirements
are for a given finished product.
ERP = Is a packaged business software system that lets an organization automate and
integrate the majority of its business processes, share common data practices across the
organisation to produce and access information in real-time.
Explain how an organisation like BMW would use the purchasing process to purchase
raw materials from their suppliers.
Model Short Answer: Answer: page 41-45
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 or Stuvia-credit 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 rutendodube031. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.40. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52355 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now