SCM 300 Exam 1 Study Guide Questions And Answers Already Graded A+
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Course
SCM 300
Institution
SCM 300
Supply Chain Visibility - ️️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 - ️️-Profit: SC plays a role in controlling ty...
SCM 300 Exam 1 Study Guide
Supply Chain Visibility - ✔️✔️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 - ✔️✔️-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.
Supply Chain Management (SCM) - ✔️✔️The management of information flows
between and among activities in a supply chain to maximize total supply chain
effectiveness and profitability
procurement - ✔️✔️Purchases inputs such as raw materials, resources, equipment,
and supplies
Operations - ✔️✔️Transforms raw materials or inputs into goods and services
Logistics - ✔️✔️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 - ✔️✔️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 - ✔️✔️The distribution of goods and services throughout a trans-national
company
1st Tier Supplier - ✔️✔️Companies direct supplier
2nd Tier Supplier - ✔️✔️A firm that provides goods and/or services to a company's
first-tier supplier.
Upstream vs. Downstream - ✔️✔️-Upstream: the direction that points toward the
suppliers.
-Downstream: the direction that points toward the end consumer
Three SCM Flows - ✔️✔️Materials, Money, and Information
, Business Model - ✔️✔️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 - ✔️✔️
Stakeholders - ✔️✔️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 - ✔️✔️Things a company does extremely well, which sometimes
give it an advantage over its competition
Productivity vs. Value - ✔️✔️-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"
Primary Supply Chain Goals - ✔️✔️Sustainable long term profits and/or Maximize
return on investment
Seven Types of Waste - ✔️✔️(1) Defects: poorly manufactured products are garbage
(2) Overproduction: making products no one needs is a waste of time, money, and effort
(3) Transportation: moving products doesn't make the product better, it incr. the
possibility of theft, damage, and loss
(4) Motion: if employees move too much in a SC they could get tired, injured, or be
wasting time
(5) Waiting: Work-in-process waiting to be finished was made too early. Items should
not be produced too far in advance
(6) Inventory: shelf items are not providing an immediate return, could be lost, broken,
or stolen
(7) Over-processing: doing work that is unnecessary or undesired is a waste of time and
resources.
Keys to being a successful SC Manager - ✔️✔️(1) Satisfy the needs of the customer
(2) Satisfy the needs of the company
(3) Be prepared for the future.
SC Strategy - ✔️✔️a. Understanding the product/service and the market's desires
b. Developing a business model
c. Organizing the right group of supply chain partners
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