SCM 300 Exam 1 Study Guide With 100% Complete Solution
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Course
SCM 300
Institution
SCM 300
SCM 300 Exam 1 Study Guide With 100% Complete Solution
Supply Chain Management (SCM) - Correct Answer-The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and profitability
procurement - Correct Answer-Purchases inputs s...
SCM 300 Exam 1 Study Guide With 100%
Complete Solution
Supply Chain Management (SCM) - Correct Answer-The
management of information flows between and among activities in a
supply chain to maximize total supply chain effectiveness and
profitability
procurement - Correct Answer-Purchases inputs such as raw
materials, resources, equipment, and supplies
Operations - Correct Answer-Transforms raw materials or inputs
into goods and services
Logistics - Correct Answer-Those activities that focus on getting the
right amount of the right products to the right place at the right
time at the lowest possible cost
Reverse Logistics - Correct Answer-A process of reclaiming
recyclable and reusable materials, returns, and reworks from the
point of consumption or use for repair, remanufacturing,
redistribution, or disposal
Global SCM - Correct Answer-The distribution of goods and
services throughout a trans-national company
1st Tier Supplier - Correct Answer-Companies direct supplier
2nd Tier Supplier - Correct Answer-A firm that provides goods
and/or services to a company's first-tier supplier.
Upstream vs. Downstream - Correct Answer--Upstream: the
direction that points toward the suppliers.
-Downstream: the direction that points toward the end consumer
, Three SCM Flows - Correct Answer-Materials, Money, and
Information
Business Model - Correct Answer-Outlines the need the firm will
fill, the operations of the business, its components and functions, as
well as the expected revenues and expenses
Business Model - Basic Types - Correct Answer-
Supply Chain Visibility - Correct Answer-The ability of all
organizations in a supply chain to access or view relevant data on
purchased materials as these materials move through their
suppliers' production processes.
Profit and ROI's relationship to SCM - Correct Answer--Profit: SC
plays a role in controlling types of costs that ensure manufacturing
and delivery, which can increase profit.
-ROI: SC seek to help maximize ROI, by creating great products
and delivering them quickly, customers may be willing to pay more.
Stakeholders - Correct Answer-All the people who stand to gain or
lose by the policies and activities of a business and whose concerns
the business needs to address.
Core Competencies - Correct Answer-Things a company does extremely
well, which sometimes give it an advantage over its competition
Productivity vs. Value - Correct Answer--Productivity: maximize the
amount of outputs that can be produced and delivered to market while
minimizing the required inputs.
-Value: ratio of "output purchased"/ "inputs used to purchase"
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