SCM 300 Exam 1 Study Guide Questions And Answers Already Graded A+
1 view 0 purchase
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
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R157,63. You're not tied to anything after your purchase.
