SCM 300 Module 1,2,3,4
Supply Chain Management - Answer- The effective & efficient integration of the suppliers, manufacturers, transportation organizations, as well as the other parties responsible for collectively bringing products & services to market.
Procurement - Answer- Branch of suppl...
SCM 300 Module 1,2,3,4
Supply Chain Management - Answer- The effective & efficient integration of the
suppliers, manufacturers, transportation organizations, as well as the other parties
responsible for collectively bringing products & services to market.
Procurement - Answer- Branch of supply chain responsible for acquiring materials,
equipment, products, & services.
Operations - Answer- Responsible for making business processes effective &
efficient. Highest quality with fewest resources.
Logistics - Answer- Responsible for developing transport itinerary & finding
appropriate transport/storage partners to successfully navigate the flow of materials
from point of origin to final destination.
Reverse Logistics - Answer- When movement flows backwards in supply chain,
towards manufacturers (example: returns)
Global SCM - Answer- When supply chain partners span across multiple
countries/continents. Can create both competitive advantage & complication.
1st-Tier Suppliers - Answer- Direct suppliers, provide direct goods or services to
company.
2nd-tier Suppliers - Answer- Provides goods/services to 1st-Tier Suppliers
Core Competencies - Answer- Primary Advantage of a company. Difficult or
impossible to replicate. Necessary for long term success. Be different & be better!
, Productivity - Answer- Ratio of outputs & inputs. Maximize out, minimize in. Very
relative, usually compared to earlier times.
Value - Answer- Sought by customer. What did I buy/What did it Cost
Primary Supply Chain Goals - Answer- Effectiveness (are we getting the job done?),
Efficiency (are we working too hard or spending too much?), Adaptability (can we
deal with change, are we flexible?)
Keys to Being a Successful Supply Chain Manager - Answer- Satisfy the needs of
the customer, satisfy the needs of the company, be prepared for the future.
SC Strategy List of 3 - Answer- a.) Understanding the product/service and the
market's desires.
b.) Develop a business model
c.) Organizing the right group of supply chain partners
SC Tools List of 5 - Answer- a.) Supply Chain Metrics
b.) Information Technology Tools
c.) Relationship Management Skills
d.) Financial Resources
e.) Organization Integration
Managing with Stakeholders in Mind - Answer- Supply Chain Managers need to
make the best possible decisions for all possible stakeholders and people involved.
Inventory - Answer- The items that are owned by a company for the purpose of
present or future sales or for use in day-to-day operations.
Lead Time - Answer- the period of time between when an order is placed and when
the order is received by the customer
Lot Size - Answer- an accepted order size. This sometimes also refers to a possible
order size increment.
SKU - Answer- Stock Keeping Unit, a specific product or service's identification code
used to track inventory or catalog sales
Risk's relationship to inventory - Answer- carrying inventory can come at hefty price,
thus there is risk. not having inventory also comes at a risk. the risk of not having
inventory and the risk of not being able to satisfy the needs of the customer.
Seasonal, perishable inventory - Answer- inventory that is only needed for a certain
time period or that can perish and expire.
pipeline inventory - Answer- inventory in transit between 2 points, in which the 2
points establish the beginning and end of the pipeline
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