Exam (elaborations)
Supply Chain Management Exam 1 Chapters 1-4-Graded A
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Supply Chain Management Exam 1 Chapters 1-4-Graded A
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Supply Chain Management Exam 1Chapters 1-4-Graded A
(SCM) vs Logistics - ANSWER-SCM: concerns the collaboration between SC partners
in a strategic effort to achieve superior competitiveness. (Strategic and Managerial
Concept)
> SCM manages different aspects of the coordination process such as:
Information, Technology, Distribution, Products, Finances, and Relationships
A typical supply chain may involve many different trading partners, called stages. These
stages may be: - ANSWER--Suppliers
-Producers
-Wholesalers/Distributors
-Retailers
-Customers
>Each stage may not be present in a SC
> The number of stages in a SC and its design will depend on the customer's needs, the
roles of stages involved, and the value each stage provides.
Achieving Competitive Advantage - ANSWER-- A well designed SC can provide
companies with needed competitive advantage
- Two advantages provide a basis of strategy and competitive positioning in the
marketplace:
1. Cost-Productivity Advantage
2. Value Advantage
Analytics - ANSWER-is applying math and statistics to these large data sets (big data)
Big Data - ANSWER-refers to large datasets whose size is so large that the quantity
can no longer fit into the memory of computers for processing.
Boundary-Spanning nature of SCM - ANSWER-SCM spans and integrates functions
within and between enterprises of the SC through: INTRA-Organizational Integration
and CROSS-Enterprise Integration
Building Blocks of SC Strategy - ANSWER-1. Operations Strategy
2. Product Positioning Strategy
3. Customer Service Strategy
4. Distribution Strategy
,5. Sourcing Strategy
Business Process - ANSWER-A business process is a structured set of activities or
steps with specified outcomes.
- Processes involve many organizational functions
- Every process has structural and resource constraints limiting output
EX: Consider the "process" involved in enrolling in a class at UMD
Business Strategy - ANSWER-a plan for the company that clearly defines the
company's long-term goals, how it plants to achieve those goals, and the way the
company plans to differentiate itself from its competitors.
Capacity Implications - ANSWER-- Capacity refers to the max amount of output that can
be achieved by a process over a specified period of time.
- Linked SC organizations need to match capacities to avoid bottlenecks.
>>Two Common Measures:
1. Design Capacity - maximum output rate that can be achieved by a facility.
2. Effective Capacity - maximum output rate that can be sustained under normal
conditions.
Careers in SCM and Professional Organizations - ANSWER-EX of SCM job duties:
1. Entry-Level Management Positions - conduct product evaluations, generate forecast
reports, preform online replenishment
2. Middle Level Management Positions - responsible for accurate and timely product
movement throughout the SC
3. Senior Executive Positions - document and execute a global SCM plan
Characteristics of a Competitive SC - ANSWER-(R.R.RM)
1. Responsiveness - the ability to move quickly to meet customer demands. Often
described as having "agility", shorter SCs, and demand-driven (responding to what the
customer demands) rather than forecast-driven.
2. Reliability -
>Uncertainty: is the main reason why companies carry safety stock resulting in higher
costs.
>Visibility: improves reliably in SC (Typically, the more further one goes up the SC, the
more limited the "visibility of downstream activities).
>SC Coordination: sharing of real-time data and info through IT improves visibility and
therefore SC reliability.
3. Relationship Management - SCM is primarily about the management of relationships
across networks of companies. >Traditional Adversarial Relationships is how it used to
be in the past.
>It is important to build relationships and collaborate
, >"Single-Sourcing" is widespread. Such practices improve quality, product innovation,
design, and overall responsiveness.
Computing Capacity Utilization - ANSWER-Capacity utilization indicates how much of
capacity is actually being used.
Utilization (Effective) = Actual Output/Effective Capacity * 100
Utilization (Design) = Actual Output/Design Capacity * 100
*LOOK UP EXAMPLE*
cost-productivity advantage - ANSWER-Advantage comes from offering the lowest cost
product or service. EX: Walmart
- Economies of Scale: enable the company to spread its fixed costs over a greater
volume
- Experience Curve: organizational costs are reduced due to experience that results
from processing a higher volume
- Efficient SC Network - can increase efficiency and improve productivity, thereby
reducing overall cost per unit.
CROSS-Enterprise Integration - ANSWER-- Various SC organizations functioning as a
single entity to satisfy the final customer by engaging in ongoing external efforts with
suppliers, transportation carriers, and distributors.
> The ultimate goal of a SC is to operate as a single entity
Keys:
1. IT as an enabler
2. Relationship Management
3. Collaborative Planning
4. Sharing risks and rewards
5. Win-win strategy
Customer Focus - ANSWER-The final customer is the driving force of the SC
- products are "pulled" through the SC
Customer Relationship Management Software (CRM) - ANSWER-CRM uses automated
customer transactions to gather data.
- data captured by ERP
- aids market segmentation
- creates customized customer communication
Customer Service - ANSWER-defined as a process of enhancing the level of customer
satisfaction by meeting or exceeding customer expectations.
Customer Service Impact on the SC - ANSWER-Customer service impacts the SC on
four dimensions:
1. Time - speed at which the company responds
2. Dependability - consistency in meeting promises to customers
3. Communications - providing real time order status
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