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SCM 301 Exam 1 Study Guide Iowa state Questions With All Correct Answers!!
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SCM 301 Exam 1 Study Guide Iowa state Questions With All Correct Answers!!
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Name: Score:56 Multiple choice questions
Term 1 of 56
Quantitative
(A forecasting technique)
-PP def: Uses mathematical models and historical data. Historical data is used to predict
future demand.
-Examples are: time series analysis, causal relationships, and simulation.
-Based off of calculated mathematical equations.
-PP def: Buying materials and components from suppliers instead of making them in-house.
The trend has moved toward outsourcing.
-When calculating the make-or-buy decision, you are doing that to try to decide if it would
be cheaper to outsource the making of your product or to make your product within your
own organization.
-PP def: Based on opinion and intuition. Generally used when data is limited, unavailable, or
not currently relevant.
-Based all off of different people's opinion.
-PP def: An external supplier that performs all or part of a company's logistics functions.
-May include transportation, warehousing, distribution, related financial services, vendor
managed inventory, etc.
,Definition 2 of 56
-PP def: Buying materials and components from suppliers instead of making them in-house. The
trend has moved toward outsourcing.
-When calculating the make-or-buy decision, you are doing that to try to decide if it would be
cheaper to outsource the making of your product or to make your product within your own
organization.
Decentralized-centralized Hybrid
The Request for Quotation (RFQ)
(purchasing term)
Quantitative
(A forecasting technique)
Outsourcing
(Part of Make-or-Buy Decision)
,Term 3 of 56
Supply Management
-Overall:
Distribution Elements:
-Transportation Management: Tradeoff decisions between cost & timing of delivery /
customer service via trucks, rail, water, & air.
-Warehouse Management: Storage of products for delivery to customer, functions including
accumulating, allocating, assorting, and sorting.
-Global Logistics: Global consideration and management globally.
-PP def: List of suppliers that a firm uses to acquire its materials, services, supplies, and
equipment.
-Many firms are emphasizing long-term strategic supplier alliances consolidating volume
into one or fewer suppliers, resulting in a smaller supply base.
-Overall:
Supply Elements:
-Supplier management: Improve performance through supplier evaluation (determining
supplier capabilities), and supplier certification (third party or internal certification to
assure product quality and service requirements).
-Strategic partnerships: Successful and trusting relationships with top-performing
suppliers.
-Look in Chap. 5 slides to get a clear definition by looking at the chart.
-Separates into independent demand and dependent demand.
-Independent demand are finished goods.
-Dependent demand are raw materials, component parts, sub-assemblies, etc.
, Definition 4 of 56
-Reasons favoring a single supplier: To establish a good relationship, less quality variability, lower
cost, transportation economies, proprietary (a company's very own) product or process, or the
volume you want is too small to split.
-Reason for favoring multiple suppliers: If you really need capacity, spread risk of supply
interruption, create competition, gaining of information from different people, or dealing with
special kinds of business.
Supplier Relationship Management Systems
Centralized-Decentralized Hybrid
Single vs. Multi-sourcing
Operations Management
Term 5 of 56
Reasons for making
(Part of Make-or-Buy Decision)
-Sharing information and maintaining confidentiality.
-R&D and proprietary information.
-Satisfying customer expectations.
-PP def: Uses mathematical models and historical data. Historical data is used to predict
future demand.
-Examples are: time series analysis, causal relationships, and simulation.
-Based off of calculated mathematical equations.
-PP def: Based on opinion and intuition. Generally used when data is limited, unavailable, or
not currently relevant.
-Based all off of different people's opinion.
-Protect proprietary technology
-No competent supplier
-Better quality control
-Use existing idle capacity
-Control of lead-time, transportation, and warehousing cost.
-Lower cost
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