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SCM 303 Final Questions And Answers 100% Correct Latest Update
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SCM 303 Final Questions And Answers 100% Correct Latest Update...
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SCM 303 Final Questions And Answers 100%Correct Latest Update
Common issues in SCM: - ANSWER - How to satisfy the customer requirements
- How to minimize costs while increasing quality
- How to connect supply chains with the corporate competitive strategy
SCM strategy with longest time horizon: - ANSWER Corporate strategy
Total Cost Concept in Supply Chain includes items like: - ANSWER Transaction cost,
salvage
cost, purchase cost, and operating cost
Time-to-market lead time is: - ANSWER The total time it takes for a firm to conceive,
design, test, produce, and deliver a new or revised product.
Efficient supply chain design matches ________ products while responsive supply chain
design matches _________ product. - ANSWER Functional, innovative
Order qualifiers - ANSWER Minimum standards to be met when assessing customer's
wants and needs
Three major components of supply chain strategy: - ANSWER Value Proposition, Critical
Customer, and Capabilities.
What does quality base on? - ANSWER Individual perception - Therefore no definite
answer about "what is the highest quality among a group of homogenous products".
,The hierarchy of the top - bottom strategy order: - ANSWER Corporate Strategy,
Business Unit Strategy, and Functional Strategy.
Three competitive priorities in SCM: - ANSWER Quality, Cost and Timeliness
Value proposition includes: - ANSWER Features that customers value and will pay for
A hard to copy source of differentiation
Meets financial and strategic firm objectives
Can be delivered by using the firms capabilities and supply chain
Triple-A supply chain: - ANSWER Agility, adaptability, alignment
Triple-A supply chain: Adaptability - ANSWER Adjust to structural changes
Triple-A supply chain: Agility - ANSWER Immediate/ fast response to changes
Triple-A supply chain: Alignment - ANSWER Incentivize performance
Parallel process flow- ANSWER Several things can be done simultaneously
Sequential process flow- ANSWER Only one thing can be accomplished at one time
Value flow chart: - ANSWER "How is the decision being made?"
"Is this the way we really do it?"
"Why do we do it this way"
"Why do we do that step?"
, Why do firms tend to produce products or render services in batches/lots? - ANSWER It
is because to minimize the setup time to a minimum and maximize running time to
achieve the operational efficiency and labour efficiency. Also, there is a learning curve
for companies to become more efficient in producing products or providing services in
batches.
What could a possible bottleneck be in SCM? - ANSWER Almost anything in SCM can be
a bottleneck such as Worker, Skill type, Machine, Facility and so on so forth.
What can cause reduced operational efficiency? - ANSWER Blocking and starving
Suppose clerk A enters 5 orders per minute. What is clerk A's cycle time and capacity in
finishing the job? - ANSWER Cycle time: 12 seconds per order
Capacity: 5 orders per minute
Forms of processes: - ANSWER Innovation, Procurement, Manufacturing, Order
fulfillment, and Accounts Payable, etc.
True or false: The bigger the batch is, the more efficient the operational process. -
ANSWER True. However, companies do not always benefit from producing in large
batches because it could cause built up inventory which could lead to further costs.
True or false: Being efficient is always effective. - ANSWER False.
What type of process is used for products and services in high volume? - ANSWER
Continuous processes
Process focused: - ANSWER The operations required for the product or service are not
repeatable enough to justify a set sequence - Job shop/jumbled flow. Ex) Apparel sewing
Product focused: - ANSWER The operations required for the product or service are
repeatable enough to justify a sequential organization - Continuous flow Ex) Paper mill
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