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SCM 300 Final Exam Questions and Answers
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SCM 300 Final Exam Questions and Answers
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SCM 300: Final Exam Questions andAnswers
Performance metric (PM) - Answer -a single performance measurement used to
evaluate, motivate, and improve performance.
System of metrics - Answer -A group of metrics that collectively attempt to provide a
multi-dimensional view of a resource or outcome.
Reasons organizations use PMs - Answer -(a) Helps to establish and support
standards,
(b) Motivate good behavior,
(c) Identify trends,
(d) Managing large numbers of resources,
(e) Performance data can facilitate decision making and planning
Importance of Goals and Stakeholders - Answer -key to developing metrics that meet
stakeholder goals is first recognizing all the stakeholders and then understanding their
individual goals.
Consequences of poor metrics - Answer -ill-conceived metrics can motivate bad
behavior: (ex) SC goals are not met, poor output, waste, undesirable employee
behaviors, managers may make poor decisions, employee victimization, undeserved
winners, lack of contentment.
Requirements of a good metric - Answer -measureable, easily understood, attainable,
strategically oriented, easy to measure, provides value, provides guidance, cheater
proof
SMART metrics - Answer -a metric that is Specific, Measurable, Attainable, Relevant,
and Timely. A helpful device that can guide managers in the development of useful
managerial metrics.
3 Key measurement system attributes - Answer -(1) Effective: were the desired goals
met?
(2) Efficient: A measure of the resources used in the process.
(3) Adaptable: measure of the conditions under which the tasks were completed.
, Keys to designing a system of metrics - Answer -Stakeholders and goals, Good metrics,
Simplicity, Completeness, Redundancy (avoid), Continuous improvement, Leadership
KPIs (Key Performance Indicators) - Answer -Individual performance metrics identified
by the company as being imperative to achieving the organization's most important
goals.
Executive dashboards - Answer -computer-generated visual representation of a
company's performance that is often available to executives on any of their digital
devices. Often include KPIs, real-time and historical data, and color-coded
performances centers that helps them quickly identify positive, negative, and neutral
output.
Managerial paralysis - Answer -situation where managers are inundated with data. This
slows decision-making and may result in managers stalling or avoiding decision-making.
Common measurement pitfalls - Answer -Managers fail to use the data, Blind belief in
institutional metrics, incomplete measurements, Utilizing too many metrics, Driving
toward perfection may waste resources, What do those numbers really mean?
Shared metrics - Answer -A metric that impacted by two related parties.
Balanced scorecard (BSC) - Answer -performance management tool that focuses on
strategic activity and outcomes. (tracks 4 different traditional output areas.)
(1) Financial results
(2) Customer-related results
(3) Internal business process results,
(4) Learning and growth results.
-All of these are used to locate problems before they impact financial results.
SCOR Model (Supply Chain Operations Reference Model) - Answer -Measurement tool
that allows SC partners to track performance, communicate progress, and develop
opportunities for improvement. (5 primary SC processes: Plan, Source, Make, Deliver,
Return) This is a tool used to integrate the SC.
Total SCM Costs - Answer -cost of every process, material, fee, defect, etc. that runs
through the SC.
Cash-to-cash cycle - Answer -measure of the number of days b/t the time a company
pays their supplier for inventory and the time that same company is paid for the same
inventory by their customer.
-Formula: (Days of Inventory on hand) + (Days of A/R owed to your company by your
customer) - (Days of A/P your company owes to suppliers).
Capacity utilization - Answer -ratio of the amount of product produced by a
manufacturing process vs. the max. capacity of that
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