Scmn test 3 - Study guides, Class notes & Summaries

What is the lifeline of supply chains? : information Supply chain managers can only derive valuable insight from data that is (key requirements): : -Accurate -Accessible -Relevant -Reliable -Timely -Transferable -Usable key requirement of SC info that says data must be current & depict reality : accurate 2 | P a g e key requirement of SC info that says data must be readily available for decision making purposes : accessible key requirement of SC info that says data must contai...

Scmn 3710 Test 2 Strickland Questions & Answers 1. Be able to explain potential supply/demand misalignment throughout the life cycle of a product as shown on Fig. 7.1 on page 210 of your text. - ANSWER->z 2. What is the definition of demand management according to Blackwell & Blackwell? - ANSWER- >Focused efforts to estimate and manage customers' demand, with the intention of using this information to shape operating decisions. 3. Explain the 4 methods commonly used to manage the ...

SCMN 2150 Test 1 Questions And Answers Verified By An Expert What is Supply Chain Management? - ANS the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) - ANS It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Co...

What are 5 technologies that can be used to create a competitive advantage? - Answer-1) internet of things (IoT) 2) blockchain 3) AI 4) robotics/automations 5) 3d printing What are the 3 biggest roadblocks to making a company a digital business? - Answer-1) company culture 2) legacy technologies/applications 3) access or usability of data What is the overarching goal of supply chain information technology in supply chain management - Answer-plan, execute, and control SCM in real time...

Episode 9 : Supply Chain Technology Which supply chain technology capability captures customer requirements, prioritizes them, and recommend alternatives to ensure product velocity aligns with customer needs. : Speed to market From a differentiation standpoint, technology can help an organization define supplier and customer segments, understand the cost to serve them, and prioritize service execution so that critical groups receive appropriate attention. (T/F) : True Which of the ...

SCMN 2150 Brian Gibson test 1 Exam Review Questions & Answers What is Supply Chain Management? - ANS-the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) - ANS-It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Comp...

SCMN 2150 TEST 3 STUDY GUIDE QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

SCMN 2150- test #2 Questions & Answers 3 main steps of supply chain. - ANS-1. supply chain 2. strategic sourcing 3. procurement goal of supply management. - ANS-buy products and services; at the right price; from the right source; at the right specification; in the right quantity; for delivery at the right time; to the right internal customer importance of supply management. - ANS-ability to generate a sustainable advantage through lower costs, higher quality, and better service from our...

3PL : 3rd party logistics. anything that you can outsource 5 Categories of 3PL's : 1. Transportation Based 2. Distribution Based 3. Forwarder Based 4. Financial Based 5. Information Based Transportation Based : business origin in freight movement -Move freight, manage transportation operations, operate fulfillment centers, develop logistics solutions Distribution Based 2 | P a g e : Business origin in the public or contract warehousing -Focus on inventory management, warehous...