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OMIS 320 Test 1 Question and answers rated A+ OMIS 320 Test 1 Supply Chain Management (SCM) - correct answer the integration of key business processes regarding the flow of materials from raw material suppliers to final customers Vertically Integrated firm - correct answer a firm whose ...

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  • November 5, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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OMIS 320 Test 1
Supply Chain Management (SCM) - correct answer ✔the integration of key
business processes regarding the flow of materials from raw material
suppliers to final customers


Vertically Integrated firm - correct answer ✔a firm whose business
boundaries include former suppliers and/or customers


first-teir suppliers, first-teir customers - correct answer ✔The ____________
suppliers are thus the focal firm's second-tier suppliers, and the ___________
customers are the focal firm's second-tier customers


1950-1960 - correct answer ✔U.S. manufacturers focused on mass
production techniques as their principal cost reduction and productivity
improvement strategies.


1960-1970 - correct answer ✔Introduction of new computer technology lead
to development of Materials Requirements Planning (MRP) and
Manufacturing Resource Planning (MRPII) to coordinate inventory
management and improve internal communication.


1980-1990 - correct answer ✔Intense global competition led U.S.
manufacturers to adopt Supply Chain Management along with Just-In-Time
(JIT), Total Quality Management (TQM), and Business Process
Reengineering (BPR) practices.


2000-Beyond - correct answer ✔Industrial buyers will rely more on third-
party service providers (3PLs) to improve purchasing and supply
management. Wholesalers/retailers will focus on transportation and logistics

, more & refer to these as quick response, service response logistics, and
integrated logistics.


Important elements of Supply Chain Management - correct answer ✔Supply
Operations
Logistics
Integration


Supply - correct answer ✔supply base reduction, supplier alliances, SRM,
global sourcing, ethical and sustainable sourcing


Operations - correct answer ✔demand management, CPFR, inventory
management, MRP, ERP, lean systems, Six Sigma quality


Logistics - correct answer ✔logistics management, CRM, network design,
RFID, global supply chains, sustainability, service response logistics


Integration - correct answer ✔barriers to integration, risk and security
management, performances measurement, green supply chains


Foundation of Supply Chain Management - correct answer ✔Supply
Management
Operations
Distribution
Integration


Supply Management - correct answer ✔supplier management, supplier
evaluation, supplier certification, strategic partnerships

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