SCM 303 Final Questions and Correct Answers the Latest Update
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SCM 303
Common challenges in SCM:
- How to meet customer requirements
- How to lower costs while improving quality
- How to align supply chains with the corporate competitive strategy
SCM strategy with longest time horizon:
Corporate strategy
Total Cost Concept in Supply Chain includes elements s...
SCM 303 Final Questions and Correct
Answers the Latest Update
Common challenges in SCM:
✓ - How to meet customer requirements
✓ - How to lower costs while improving quality
✓ - How to align supply chains with the corporate competitive strategy
SCM strategy with longest time horizon:
✓ Corporate strategy
Total Cost Concept in Supply Chain includes elements such as:
✓ Minimum standards to be met when assessing customer's wants and needs
Three main components of supply chain strategy:
✓ Value Proposition, Critical Customer, and Capabilities.
What is quality based on?
✓ Individual perception - Therefore no definite answer regarding, "what is the highest
quality among a group of homogenous products".
The hierarchy of the strategy (top-bottom order):
✓ Corporate Strategy, Business Unit Strategy, and Functional Strategy.
Three competitive priorities in SCM:
✓ Quality, Cost and Timeliness
Value proposition includes:
✓ - Features that customers value and will pay for
✓ - A difficult to imitate source of differentiation
✓ - Satisfies financial and strategic firm objectives
✓ - Deliverable using the firm's capabilities and supply chain
✓ "How is the decision being made?"
✓ "Is this the way we really do it?"
✓ "Why do we do it this way"
✓ "Why do we do that step?"
Why do companies tend to produce products or offer services in batches/lots?
✓ To minimize setup time and maximize running time, and to achieve operational
efficiency as well as labor efficiency. Also there is a learning curve for companies to
become more efficient in producing products or providing services in batches.
What could a possible bottleneck be in SCM?
Examify | Smart Grades | Latest update
✓ Almost anything in SCM can be a bottleneck such as Worker, Skill type, Machine,
Facility and so on so forth.
What can cause reduced operational efficiency?
✓ Blocking and starving
Suppose clerk A enters 5 orders per minute. What is clerk A's cycle time and
capacity in finishing the job?
✓ Cycle time: 12 seconds per order
✓ Capacity: 5 orders per minute
Forms of processes:
✓ Innovation, Procurement, Manufacturing, Order fulfillment, and Accounts Payable,
etc.
True or false: The bigger the batch is, the more efficient the operational
process.
✓ True. However, companies do not always benefit from producing in large batches
because it could cause built up inventory which could lead to further costs.
True or false: Being efficient is always effective.
✓ False.
What kind of process is used for high volume products and services?
✓ Continuous processes
Examify | Smart Grades | Latest update
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