INTRO TO SUPPLY CHAIN -
WOHLFAHRT - RUTGERS - EXAM 1
QUESTIONS & ANSWERS
What is a Supply Chain? - Correct Answers -Producing and delivering products and
services requires suppliers, manufacturers, and customers, all of which comprise a
supply chain.
Structure of a supply chain - Correct Answers -A supply chain consists of the flow of
materials and products from SUPPLIERS to MANUFACTURERS to CUSTOMERS.
Relationship between links in the Supply chain - Correct Answers -Every link in the
supply chain is both a CUSTOMER OF THEIR SUPPLIERS and a SUPPLIER TO
THEIR CUSTOMERS
Backorder - Correct Answers -cannot ship finished product to customers against their
open orders
Total market stockout - Correct Answers -When customers sell out all remaining
inventory
What is supply chain management? - Correct Answers -Supply chain management is
the coordination of the network of trading partners who create a desired product or
service and then move it though the supply chain to customers when and where the
customers want it.
What is the value of supply chain management? - Correct Answers -Creates value by
managing the processes of all those independent trading partners so that they can
collaborate in an efficient, effective, and cost conscious way.
What are the goals of supply chain management? - Correct Answers -Increasing
customer service while reducing inventory and operating expenses
What are supply chains in the service industry all about? - Correct Answers -Service
firms offer intangible products
, More focused on managing the relationships between trading partners rather than
managing supply chain
Maintenance, repair and operating MRO - Correct Answers -Items used to support
general operations and maintenance, such as maintenance supplies, spare parts, and
consumables, and are used in manufacturing and supporting operations. Does NOT
end up as part of the finished product
Why hold inventory? - Correct Answers -To meet customer demand (cycle)
To buffer against uncertainty in demand or supply (Safety)
To decouple supply from demand (Strategic)
To decouple dependencies in the supply chain (Strategic)
Inventory management - Correct Answers -The goal of inventory management is to help
a company be more profitable by lowering the cost of goods sold and increasing sales
Cycle stock - Correct Answers -Inventory that a company builds to satisfy its immediate
demand
Depletes gradually as customer orders are received and is replenished cyclically when
supply orders are received
What are the components of the SCOR (Supply chain operations research) model? -
Correct Answers -Plan, Source, Make, Deliver, Return, Enable
Plan (SCOR Model) - Correct Answers -Establishes and the determination of the
parameters within which the supply chain will operate
Strategies for managing all the resources necessary to address how a product will be
created/delivered
Source (SCOR Model) - Correct Answers -Identifying the suppliers that provide the
materials and services needed for the supply chain to deliver the finished products
Make (SCOR Model) - Correct Answers -The serious of operations that convert
materials into finished products
Deliver (SCOR Model) - Correct Answers -The LOGISTICS phase oversees the
execution of the forward flow of goods and related information between points in the
supply chain to meet customer requirements
Return (SCOR Model) - Correct Answers -Reverse logistics, deals with controlling the
process of moving goods from consumption to point of origin for repair, reclamation,
remanufacture, or disposal.
Enable (SCOR Model) - Correct Answers -Additional aspect, enabling processes
facilitates a company's ability to manage the supply chain. It is spread throughout every
stage.
WOHLFAHRT - RUTGERS - EXAM 1
QUESTIONS & ANSWERS
What is a Supply Chain? - Correct Answers -Producing and delivering products and
services requires suppliers, manufacturers, and customers, all of which comprise a
supply chain.
Structure of a supply chain - Correct Answers -A supply chain consists of the flow of
materials and products from SUPPLIERS to MANUFACTURERS to CUSTOMERS.
Relationship between links in the Supply chain - Correct Answers -Every link in the
supply chain is both a CUSTOMER OF THEIR SUPPLIERS and a SUPPLIER TO
THEIR CUSTOMERS
Backorder - Correct Answers -cannot ship finished product to customers against their
open orders
Total market stockout - Correct Answers -When customers sell out all remaining
inventory
What is supply chain management? - Correct Answers -Supply chain management is
the coordination of the network of trading partners who create a desired product or
service and then move it though the supply chain to customers when and where the
customers want it.
What is the value of supply chain management? - Correct Answers -Creates value by
managing the processes of all those independent trading partners so that they can
collaborate in an efficient, effective, and cost conscious way.
What are the goals of supply chain management? - Correct Answers -Increasing
customer service while reducing inventory and operating expenses
What are supply chains in the service industry all about? - Correct Answers -Service
firms offer intangible products
, More focused on managing the relationships between trading partners rather than
managing supply chain
Maintenance, repair and operating MRO - Correct Answers -Items used to support
general operations and maintenance, such as maintenance supplies, spare parts, and
consumables, and are used in manufacturing and supporting operations. Does NOT
end up as part of the finished product
Why hold inventory? - Correct Answers -To meet customer demand (cycle)
To buffer against uncertainty in demand or supply (Safety)
To decouple supply from demand (Strategic)
To decouple dependencies in the supply chain (Strategic)
Inventory management - Correct Answers -The goal of inventory management is to help
a company be more profitable by lowering the cost of goods sold and increasing sales
Cycle stock - Correct Answers -Inventory that a company builds to satisfy its immediate
demand
Depletes gradually as customer orders are received and is replenished cyclically when
supply orders are received
What are the components of the SCOR (Supply chain operations research) model? -
Correct Answers -Plan, Source, Make, Deliver, Return, Enable
Plan (SCOR Model) - Correct Answers -Establishes and the determination of the
parameters within which the supply chain will operate
Strategies for managing all the resources necessary to address how a product will be
created/delivered
Source (SCOR Model) - Correct Answers -Identifying the suppliers that provide the
materials and services needed for the supply chain to deliver the finished products
Make (SCOR Model) - Correct Answers -The serious of operations that convert
materials into finished products
Deliver (SCOR Model) - Correct Answers -The LOGISTICS phase oversees the
execution of the forward flow of goods and related information between points in the
supply chain to meet customer requirements
Return (SCOR Model) - Correct Answers -Reverse logistics, deals with controlling the
process of moving goods from consumption to point of origin for repair, reclamation,
remanufacture, or disposal.
Enable (SCOR Model) - Correct Answers -Additional aspect, enabling processes
facilitates a company's ability to manage the supply chain. It is spread throughout every
stage.
