supply chain management correct answers the "art" of managing the flow of materials and products, info, and financial resources from source to user
what is the order of the supply chain cycle? correct answers suppliers -> manufacturers -> distributors -> retailers -> consumers
who...
SCMN 3150 Test 1 || with 100% Accurate Solutions.
supply chain management correct answers the "art" of managing the flow of materials and
products, info, and financial resources from source to user
what is the order of the supply chain cycle? correct answers suppliers -> manufacturers ->
distributors -> retailers -> consumers
who is the most important participant in the supply chain? correct answers consumer
how are greater profits achieved? correct answers by achieving higher sales at lower costs
what are the 7 rights? correct answers 1. right product
2. in the right quantity
3. to the right customer
4. at the right time
5. at the right place
6. in the right condition
7. at the right cost
goals of supply chain management correct answers 1. customer care
2. competitiveness
3. efficiency
4. responsiveness and resilience
what are the challenges of SCM? correct answers - product life cycles are shrinking
- customers are demanding customized products
- competition is intensifying
- companies need to be much more efficient
what activities does SCM focus on? correct answers - planning and forecasting
- supply management and procurement
- operations management and production
- logistics and transportation
what are the three flows of the supply chain? correct answers 1. share the information
- create visibility
2. deliver the product
- drive utility
3. show me the $
- release funds
7 principles of SCM correct answers 1. segment customers based on service needs
2. customize the logistics network
3. drive operations from demand
4. differetiate product closer to the customer
supply chain management requires a two-way flow of what three things? correct answers
information, products, and money
plan correct answers creation of an overall strategy for synchronizing supply with demand in
your supply chains; this involves developing plans for managing resources, flows, and
relationships for optimal cost and service across the supply chain
source correct answers procurement of the key inputs that your organization needs to create
products and services; this involves supplier selection, contract development, delivery receipt
and verification, payment, and performance control
make correct answers conversion of the procured inputs into products and/or services; this may
involve processing raw materials, manufacturing components, or assembing finished goods;
these execution processes produce, test, and prepare outputs for delivery
deliver correct answers fulfillment of customer demand for your products and services; key
logistics processes involving inventory management, distribution, and transportation are
developed and executed to ensure the timely, low-cost flow of products to customers
return correct answers disposition and reverse flow of customer returns of defective, outdated,
recyclable, or otherwise unneeded goods; returns management processes focus on minimizing
the number of items that need to enter the return flow and controlling the flow through well-
organized reverse logistics processes
key performance indicators correct answers also called KPIs, these must be established to
monitor the results of each component and the overall impact of the supply chain
supply chain efficiency initiatives can lead to the following benefits: correct answers - faster
turnover ratio
- rationalized product handling and inspection
- greater equipment and facility utilization
potential integration outcomes correct answers - improved demand planning accuracy
- optimized total cost of ownership
- standardized processes and metrics
5 steps to adopt a supply chain perspective correct answers 1. develop the vision
2. establish commitment
3. marshal the resources
4. get the ball rolling
5. monitor the results
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