Scmn test 3 - Study guides, Class notes & Summaries

SCMN 3710 Test 2 Strickland Latest Update Graded A+ 1. Be able to explain potential supply/demand misalignment throughout the life cycle of a product as shown on Fig. 7.1 on page 210 of your text. z 2. What is the definition of demand management according to Blackwell & Blackwell? Focused efforts to estimate and manage customers' demand, with the intention of using this information to shape operating decisions. 3. Explain the 4 methods commonly used to manage the imbalance betwee...

SCMN-2150-Test 1- Barry Russell Questions and Answers Graded A+ What is a supply chain? Organizations and activities involved with the flow of products from raw materials to the customer What is supply chain management? the art of managing the flow of materials and products, information, and financial resources from source to user Why is supply chain management important to companies ? helps companies outpace the competition by managing their materials, product, and information flow...

SCMN-2150 Test 2 Questions And Revised Correct Answers What is a procurement? - ANSWER : Purchase of merchandise/services at the optimum total cost, correct quantity, time and quality (day to day purchasing function) What is strategic sourcing? - ANSWER : 1) what to buy and from where (focus on improving) 2) The institutional process that continuously re-evaluates and improves the purchasing activities of a company. Differences between traditional purchasing and strategic sourc...

SCMN 2150 Test 2 Questions and Answers with Verified Solutions What is procurement? The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? The process of analyzing an organization...

SCMN 3150 Test 1 Questions and Answers 100% Pass What is SCM and why is it important? SCM is the "art" of managing the flow of materials and products, information and money from source to user, and it is important because it is the source of customer satisfaction, cost reductions, and revenue increases Who are the key participants in the supply chain? suppliers, manufacturers, distributors, retailers, and consumers What are the primary processes of the supply chain? planning, pr...

SCMN 2150 (Test 1) Latest 2024 Graded A+ Supply chain management the art of managing the flow of materials and products, information, and financial resources from source to user Who are the key participants and the primary processes in a supply chain - Suppliers - Manufacturers - Distributors - Retailers - Consumers (most important) What are the goals of supply chain management SCM helps companies outpace the competition by managing their materials, product, and information f...

SCMN 2150 Test 1 Exam Questions With 100% Correct Answers What is Supply Chain Management? - answerIncludes all the activities that take place to get a product in your hands - from the time of raw materials extraction to the minute you pull out your credit card and take the final product home 7 Principles of Supply Chain Management - answer1. Segment customers based on service needs 2. Customize the logistics network 3. Drive operations from demand 4. Differentiate product closer to the...

SCMN 2150 Test 2 Auburn University Questions and Answers 100% Pass What is procurement? process of actually purchasing goods and services How does procurement differ from strategic sourcing? Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? obtain ...

SCMN 3720 Test 2 Questions and Answers Already Passed What drives transportation pricing across the modes? service characteristics drive price (accessibility, speed, reliability, capability, and cost/lb) What service characteristic is the major driver of price across modes? speed What primarily drives transportation pricing within the mode? -Capacity (Supply) Number of Drivers, Tractors,Trailers/Containers, Cargo Ships, Cargo Aircraft -Shipping Volume (Demand) Driven by demand for co...

SCMN 2150: test #2 Exam Questions With Verified Answers 3 main steps of supply chain. - answer1. supply chain 2. strategic sourcing 3. procurement goal of supply management. - answerbuy products and services; at the right price; from the right source; at the right specification; in the right quantity; for delivery at the right time; to the right internal customer importance of supply management. - answerability to generate a sustainable advantage through lower costs, higher quality, and...