SCM 470 Quiz 2 Complete Solutions
Definition of Supply Chain Management ️is the management of the flow of goods and services. It
involves the movement and storage of raw materials, of work-in-process inventory and of finished goods
as well as end to end order fulfillment from point of orig...
Definition of Supply Chain Management ✔️is the management of the flow of goods and services. It
involves the movement and storage of raw materials, of work-in-process inventory and of finished goods
as well as end to end order fulfillment from point of origin to point of consumption
Definition of purchasing ✔️buying of raw materials to fulfill business objectives in the most timely and
cost effective manner
Definition of operations ✔️the systems, structures and processes to plan and execute the flow of goods
and services from supplier to customer
Definition of logistics ✔️part of the supply chain process that plans, implements, and controls the
efficient, effective flow and storage of goods, services, and related information from the point of origin
to the point of consumption to meet customer requirements
Product-process matrix ✔️
jumbled flow ✔️Low capital intensity
high skilled labor
high customization
process flow focus
line flow ✔️high capital intensity
low skilled labor
standardized products
product flow focus
difficult to change capacity
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