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SCM 303 Exam 3 Questions And Accurate Answers 100% Pass Guaranteed
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SCM 303 Exam 3 Questions And Accurate Answers100% Pass Guaranteed
Functions within an organization that provides effective and efficient materials and
services management - ANSWER o Supply chain management
o Procurement
o Purchasing
Inventory reduction and purchasing savings - ANSWER · direct contributions that are
measurable and tangible
In manufacturing, supply costs range from - ANSWER 50% to 80% of revenue
Operational Decision Examples - ANSWER o Keep certain frequently used items in stock
to ensure that production is not halted
o Negotiate with a supplier to develop a product with better quality`
Strategic Decision Examples - ANSWER o Taking the buying power and utilizing it to
obtain the most value in the market place from suppliers
o Keeping up with purchasing trends and being capable of selecting those that fit your
company's goals
Manufacturer - ANSWER provide tangible products to customers
Service Provider - ANSWER does not carry inventory and sell a service
Combination - ANSWER providers play both a provider and service role
,Key drivers for an organizations supply decisions - ANSWER mission, vision, and
strategy
Suppliers and supply function are vital to an organization's - ANSWER success,
customer satisfaction, and competitive advantage
Organizational success relies considerably on - ANSWER effective purchasing and
supply chain management
Standard Steps of the Procurement Process - ANSWER o 1) The recognition of need
o 2) The translation of that need into commercially equivalent description
o 3) the search for potential suppliers
o 4) the selection of a suitable source
o 5) the agreement on order or contract details
o 6) the delivery of products or services
o 7) the payment of suppliers
· Supply industry is facing some challenges: o How to manage, measure, and assess risk
in supply chains, how to address questions of sustainability, growth and influence,
technology, and effective supply chain contribution to corporate success
· Small organization supply chains don't have the same luxuries as larger organizations
do
· Supply contributions might be viewed from operational and strategic contexts
· Companies need to either increase revenue or decrease costs, or both, in order to
increase long-term shareholder value
· Logistics involves the inbound, outbound, internal and external movements of goods,
services and related information.
· In making decisions the supply manager has to make a balance between risk and
reward
, · Stages of supply chain involvement - ANSWER o None-the lowest level of involvement
o Documentary- transaction involvement only
o Professional-personnel use expertise to assess acquisition decisions
o Meaningful- true team member status
Specific supply objectives - ANSWER quality, quantity, delivery, price, service, flexibility
and continuous improvement
To be competitive, an organization must - ANSWER deliver goods to consumers on time,
that meet quality standards, and that have fair price to consumers
Organizations where unethical supply decisions are made can have an increase in -
ANSWER reputation risk
Supply chain decision that can lead to poor operational efficiency - ANSWER 1) raw
materials that arrive late from the supplier
2) parts arriving into the facility that are not to quality standard
Two key supply chain performance measures- ANSWER are inventory turnover and level
The strategic goals of organizations need to be met by focusing on - ANSWER process
and knowledge management
Supply chain technology has enabled organizations to- ANSWER enhance customer
service, lower transaction costs, and inventory costs
Strategic management decisions may affect- ANSWER · supply functions, profits can be
made in technological development
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