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SCM 300 Exam 1 With 100% Correct And Verified Answers
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SCM 300 Exam 1 With 100% Correct AndVerified Answers
Supply Chain Management (SCM) - Correct Answer-the effective
and efficient integration of the suppliers, manufacturers,
transportation organizations as well as the other parties responsible
for collectively bringing products and services to market.
Procurement - Correct Answer-branch of an organization
responsible for acquiring materials, equipment, products and
services. (Purchasing)
Operations - Correct Answer-responsible for making business
processes effective and efficient
Logistics - Correct Answer-responsible for developing the
transportation itinerary and finding the appropriate transportation
and storage partners to successfully navigate the flow of materials
from the point of origin to the final destination.
Reverse Logistics - Correct Answer-management of products that
flow backwards in the supply chain (upstream), away from the
consumer and back in the direction of manufacturers
Global SCM - Correct Answer-suppliers, manufacturers,
transportation companies, warehouse distribution centers, retailers,
and other supply chain partners span across multiple countries
and/or continents.
1st-tier and 2nd-tier suppliers - Correct Answer--1st tier: a
company's direct suppliers.
-2nd tier: firm that provides goods and/or services to a company's
first-tier supplier.
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,Upstream vs. Downstream - Correct Answer-1. the direction that
points toward the suppliers.
2. the direction that points toward the end consumer
Three SCM Flows - Correct Answer-for SC to function and develop,
three things must continuously flow; Materials, Money, and
Information.
Business Model - Correct Answer-company's plan for how it will
purchase, transform, deliver, and sell product in an effort to
produce a profit.
Supply Chain Visibility - Correct Answer-ability to see what is
happening w/ inventory upstream and downstream in a supply
chain.
Profit'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's relationship to SCM - Correct Answer-ROI: SC seek to help
maximize ROI, by creating great products and delivering them
quickly, customers may be willing to pay more.
Competitive priorities - Correct Answer-tracking cost, quality,
speed, and flexibility is vital to knowing whether the company is
meeting its goals and working towards better performance in the
future.
Core competencies - Correct Answer-primary advantage a company
has over its competitors; difficult, if not impossible, to replicate.
Productivity vs. Value - Correct Answer--Productivity: maximize the
amount of outputs that can be produced and delivered to market while
minimizing the required inputs.
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, -Value: ratio of "output purchased"/ "inputs used to purchase"
Primary Supply Chain Goals - Correct Answer-
Effectiveness, efficiency, and adaptability - to make
high quality products and services in a timely
fashion that meet the needs of the customer. In a
way that utilized minimal resources, and changes
in the market.
Seven types of waste - Correct Answer-(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 - Correct
Answer-(1) Satisfy the needs of the customer
(2) Satisfy the needs of the company
(3) Be prepared for the future.
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