INTRO TO SUPPLY CHAIN EXAM
1QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -Consists of the flow of products and services from
Raw Materials to End Users.
Connected by transportation and storage activities & integrated through information,
planning, and technology.
Goal of Supply Chain Management - Correct Answers -Correct product; in the needed
quantity; at the right location; at the right time; for the lowest total cost.
Balancing low cost manufacturing with variable customer demand.
Four Parts of SCM - Correct Answers -Supply Management, Operations, Logistics, and
Integration.
Supply Elements - Correct Answers -Supplier Management, Strategic Partnerships, and
Ethics and Sustainability.
Supplier Management - Correct Answers -Improve performance through supplier
selection, evaluation, certification, and development.
Strategic Partnerships - Correct Answers -Successful and trusting relationships with
top-performing suppliers.
Ethics and Sustainability - Correct Answers -Recognizing suppliers' impact on
reputation and environment impact.
Operations Issues - Correct Answers -Demand Management, Production & Capacity
Planning, Lean Systems, and Employ Quality Systems.
Demand Management - Correct Answers -Forecast customer demand to determine
supply requirements.
Building Trust - Correct Answers -With trust, partners are more willing to work together,
find compromise solutions to problems, work toward achieving long-term benefits for
both parties, &, in short, go to the extra mile.
, Shared Vision and Objectives - Correct Answers -Both partners must share the same
vision & have objectives that are not only clear but mutually agreeable. The focus must
move beyond tactical issues & toward a more strategic path to corporate success.
Personal Relationships - Correct Answers -It is people who communicate and make
things happen.
Mutual Benefits and Needs - Correct Answers -Partnership should result in a win-win
situation, which can only be achieved if both companies have compatible needs. An
alliance is much like a marriage, & if only one party is happy, then the marriage is not
likely to last.
Production & Capacity Planning - Correct Answers -Meet Supply Requirements.
Use Lean Systems - Correct Answers -Improve production and reduce inventory levels.
Employ Quality Systems - Correct Answers -Such as Six Sigma to improve quality.
Logistics Management - Correct Answers -Transportation Management, Customer
Relationship Management, and Network Designs.
Transportation Management - Correct Answers -The balance of cost, speed, and
customer service using the different modes of transportation.
Customer Relationship Management - Correct Answers -Strategies to communicate
with customers, resolve complaints, and determine service requirements.
Network Design - Correct Answers -Creating distribution networks based on tradeoff
decisions between cost and sophistication of distribution system.
Integration Trends - Correct Answers -Supply Chain Process Integration and Supply
Chain Performance Measurement
Supply Chain Process Integration - Correct Answers -When supply chain participants
work for common goals. Requires intra-firm functional integration. Based on efforts to
change attitudes and adversarial relationships.
Supply Chain Performance Measurement - Correct Answers -Crucial for firms to know if
procedures are working.
Two Basic Supply Chain Models - Correct Answers -Efficient and Responsive
Efficient - Correct Answers -Supply chain processes are designed to minimize cost.
Predictable supply and low cost, low cost production and highly utlized capactiy, high
inventory turnovers, and ideal for functional products.
1QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -Consists of the flow of products and services from
Raw Materials to End Users.
Connected by transportation and storage activities & integrated through information,
planning, and technology.
Goal of Supply Chain Management - Correct Answers -Correct product; in the needed
quantity; at the right location; at the right time; for the lowest total cost.
Balancing low cost manufacturing with variable customer demand.
Four Parts of SCM - Correct Answers -Supply Management, Operations, Logistics, and
Integration.
Supply Elements - Correct Answers -Supplier Management, Strategic Partnerships, and
Ethics and Sustainability.
Supplier Management - Correct Answers -Improve performance through supplier
selection, evaluation, certification, and development.
Strategic Partnerships - Correct Answers -Successful and trusting relationships with
top-performing suppliers.
Ethics and Sustainability - Correct Answers -Recognizing suppliers' impact on
reputation and environment impact.
Operations Issues - Correct Answers -Demand Management, Production & Capacity
Planning, Lean Systems, and Employ Quality Systems.
Demand Management - Correct Answers -Forecast customer demand to determine
supply requirements.
Building Trust - Correct Answers -With trust, partners are more willing to work together,
find compromise solutions to problems, work toward achieving long-term benefits for
both parties, &, in short, go to the extra mile.
, Shared Vision and Objectives - Correct Answers -Both partners must share the same
vision & have objectives that are not only clear but mutually agreeable. The focus must
move beyond tactical issues & toward a more strategic path to corporate success.
Personal Relationships - Correct Answers -It is people who communicate and make
things happen.
Mutual Benefits and Needs - Correct Answers -Partnership should result in a win-win
situation, which can only be achieved if both companies have compatible needs. An
alliance is much like a marriage, & if only one party is happy, then the marriage is not
likely to last.
Production & Capacity Planning - Correct Answers -Meet Supply Requirements.
Use Lean Systems - Correct Answers -Improve production and reduce inventory levels.
Employ Quality Systems - Correct Answers -Such as Six Sigma to improve quality.
Logistics Management - Correct Answers -Transportation Management, Customer
Relationship Management, and Network Designs.
Transportation Management - Correct Answers -The balance of cost, speed, and
customer service using the different modes of transportation.
Customer Relationship Management - Correct Answers -Strategies to communicate
with customers, resolve complaints, and determine service requirements.
Network Design - Correct Answers -Creating distribution networks based on tradeoff
decisions between cost and sophistication of distribution system.
Integration Trends - Correct Answers -Supply Chain Process Integration and Supply
Chain Performance Measurement
Supply Chain Process Integration - Correct Answers -When supply chain participants
work for common goals. Requires intra-firm functional integration. Based on efforts to
change attitudes and adversarial relationships.
Supply Chain Performance Measurement - Correct Answers -Crucial for firms to know if
procedures are working.
Two Basic Supply Chain Models - Correct Answers -Efficient and Responsive
Efficient - Correct Answers -Supply chain processes are designed to minimize cost.
Predictable supply and low cost, low cost production and highly utlized capactiy, high
inventory turnovers, and ideal for functional products.
