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SCM 300 Module 1,2,3,4 2024 QUESTIONS & ANSWERS _.
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10/5/24, 6:07 PMSCM 300 Module 1,2,3,4
Jeremiah
Terms in this set (116)
The effective & efficient integration of the suppliers, manufacturers, transportation
Supply Chain Management organizations, as well as the other parties responsible for collectively bringing
products & services to market.
Branch of supply chain responsible for acquiring materials, equipment, products, &
Procurement
services.
Responsible for making business processes effective & efficient. Highest quality with
Operations
fewest resources.
Responsible for developing transport itinerary & finding appropriate
Logistics transport/storage partners to successfully navigate the flow of materials from point
of origin to final destination.
When movement flows backwards in supply chain, towards manufacturers (example:
Reverse Logistics
returns)
When supply chain partners span across multiple countries/continents. Can create
Global SCM
both competitive advantage & complication.
1st-Tier Suppliers Direct suppliers, provide direct goods or services to company.
2nd-tier Suppliers Provides goods/services to 1st-Tier Suppliers
Upstream Supply Chain Goes toward supplier
Downstream Supply Chain Goes toward consumer
Three SCM Flows Materials, Money, & Info
A company's plan for how it will purchase items, transform them, deliver them, & sell
Business Models
them in an effort to produce a profit.
Ability to see what is happening with inventory upstream and downstream in the
Supply Chain Visibility
supply chain.
Profit Revenue - Cost
ROI Total Profit/Total Investment
Cost Priorities Cost, Quality, Speed, Flexibility
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Primary Advantage of a company. Difficult or impossible to replicate. Necessary for
Core Competencies
long term success. Be different & be better!
Ratio of outputs & inputs. Maximize out, minimize in. Very relative, usually compared
Productivity
to earlier times.
Value Sought by customer. What did I buy/What did it Cost
Effectiveness (are we getting the job done?), Efficiency (are we working too hard or
Primary Supply Chain Goals
spending too much?), Adaptability (can we deal with change, are we flexible?)
Defects, Overproduction, Transportation, Motion, Waiting, Inventory, Over-
7 Types of Waste
Processing
Keys to Being a Successful Supply Chain Satisfy the needs of the customer, satisfy the needs of the company, be prepared for
Manager the future.
a.) Understanding the product/service and the market's desires.
SC Strategy List of 3 b.) Develop a business model
c.) Organizing the right group of supply chain partners
a.) Supply Chain Metrics
b.) Information Technology Tools
SC Tools List of 5 c.) Relationship Management Skills
d.) Financial Resources
e.) Organization Integration
Supply Chain Managers need to make the best possible decisions for all possible
Managing with Stakeholders in Mind
stakeholders and people involved.
The items that are owned by a company for the purpose of present or future sales or
Inventory
for use in day-to-day operations.
the period of time between when an order is placed and when the order is received
Lead Time
by the customer
an accepted order size. This sometimes also refers to a possible order size
Lot Size
increment.
Stock Keeping Unit, a specific product or service's identification code used to track
SKU
inventory or catalog sales
carrying inventory can come at hefty price, thus there is risk. not having inventory
Risk's relationship to inventory also comes at a risk. the risk of not having inventory and the risk of not being able to
satisfy the needs of the customer.
Seasonal, perishable inventory inventory that is only needed for a certain time period or that can perish and expire.
inventory in transit between 2 points, in which the 2 points establish the beginning
pipeline inventory
and end of the pipeline
safety inventory (buffer stock) inventory kept to account for variation/uncertainty of demand.
inventory created and stored for future use, used to absorb uneven rates of demand
anticipation inventory
that may to related to season demand or planned price reduction
Calculate pipeline inventory period demand x lead-time
forecasting that uses the judgment and opinions of knowledgeable individuals to
qualitative forecasting
predict outcomes
quantitative forecasting uses mathematical models and historical data to make forecasts
demand forecasting predictive analysis and/or estimation of consumer demand in a future period
simple moving average mean
weighted moving average different weights for different importance
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