SUPPLY CHAIN MANAGEMENT -
EXAM 1 QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -Network of manufacturers and service providers that
work together to convert goods from raw material to end user. Linked through physical
flows, information flows, and monetary flows.
Operations function - Correct Answers -The collection of people, process, technology,
and systems within an organization that has primary responsibility for providing products
or services.
Inputs - Correct Answers --Materials
-Intangible Needs
-Information
Outputs - Correct Answers --Tangible Goods
-Fulfilled Needs
-Satisfied Customers
Operations Management - Correct Answers -Planning, scheduling, and control of the
activities that transform inputs into finished goods and services.
Upstream - Correct Answers -Activities or firms positioned earlier in the supply chain
relative to another activity or firm of interest.
Downstream - Correct Answers -Activities or firms positioned later in the supply chain
relative to another activity or firm of interest.
First-Tier Supplier - Correct Answers -Supplier that provides products or services
directly to a particular firm.
Inventory - Correct Answers -Stock or items used to support production (raw-materials
and work-in-process items), supporting activities (maintenance, repair, and operating
supplies) and customer service (finished goods and spare parts)
Cycle Stock - Correct Answers -Components or products that are received in bulk by a
downstream partner, gradually used up, and then replenished again in bulk by an
upstream partner.
, Safety Stock - Correct Answers -Extra inventory that companies hold to protect
themselves against uncertainties in either demand or replenishment time.
Second-Tier Supplier - Correct Answers -Supplier that provides products or services to
the firm that directly supplies your firm.
Supply Chain Management - Correct Answers -Active management of supply chain
activities and relationships in order to maximize customer value and achieve a
sustainable competitive advantage.
SCOR Model - Correct Answers -A comprehensive model of the core management
processes and individual process types that together define the domain of supply chain
management.
Process Selection - Correct Answers -Design and implement the transformation
processes that best meet the needs of customers and the firm.
Forecasting - Correct Answers -Develop the planning numbers needed for effective
decision making.
Capacity Planning - Correct Answers -Establish strategic capacity levels (bricks and
mortar) and tactical capacity levels (workforce, inventory).
Inventory Management - Correct Answers -Manage the amount and placement of
inventory within the company and the supply chain.
Planning and Control - Correct Answers -Schedule and manage the flow of work
through an organization and the supply chain; match customers demand to supply chain
activities.
Purchasing - Correct Answers -Identify and quantify suppliers of goods and services;
manage the ongoing buyer-supplier relationships.
Logistics - Correct Answers -Manage the movement of physical goods throughout the
supply chain.
Structural Elements - Correct Answers -Includes tangible resources such as buildings,
equipment, and computer systems.
Infrastructural Elements - Correct Answers -Includes the policies, people, decision rules,
and organizational structure choices made by a firm.
Mission Statement - Correct Answers -This describes what's important to the
organization, called its core values, and identifies the organization's domain.
EXAM 1 QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -Network of manufacturers and service providers that
work together to convert goods from raw material to end user. Linked through physical
flows, information flows, and monetary flows.
Operations function - Correct Answers -The collection of people, process, technology,
and systems within an organization that has primary responsibility for providing products
or services.
Inputs - Correct Answers --Materials
-Intangible Needs
-Information
Outputs - Correct Answers --Tangible Goods
-Fulfilled Needs
-Satisfied Customers
Operations Management - Correct Answers -Planning, scheduling, and control of the
activities that transform inputs into finished goods and services.
Upstream - Correct Answers -Activities or firms positioned earlier in the supply chain
relative to another activity or firm of interest.
Downstream - Correct Answers -Activities or firms positioned later in the supply chain
relative to another activity or firm of interest.
First-Tier Supplier - Correct Answers -Supplier that provides products or services
directly to a particular firm.
Inventory - Correct Answers -Stock or items used to support production (raw-materials
and work-in-process items), supporting activities (maintenance, repair, and operating
supplies) and customer service (finished goods and spare parts)
Cycle Stock - Correct Answers -Components or products that are received in bulk by a
downstream partner, gradually used up, and then replenished again in bulk by an
upstream partner.
, Safety Stock - Correct Answers -Extra inventory that companies hold to protect
themselves against uncertainties in either demand or replenishment time.
Second-Tier Supplier - Correct Answers -Supplier that provides products or services to
the firm that directly supplies your firm.
Supply Chain Management - Correct Answers -Active management of supply chain
activities and relationships in order to maximize customer value and achieve a
sustainable competitive advantage.
SCOR Model - Correct Answers -A comprehensive model of the core management
processes and individual process types that together define the domain of supply chain
management.
Process Selection - Correct Answers -Design and implement the transformation
processes that best meet the needs of customers and the firm.
Forecasting - Correct Answers -Develop the planning numbers needed for effective
decision making.
Capacity Planning - Correct Answers -Establish strategic capacity levels (bricks and
mortar) and tactical capacity levels (workforce, inventory).
Inventory Management - Correct Answers -Manage the amount and placement of
inventory within the company and the supply chain.
Planning and Control - Correct Answers -Schedule and manage the flow of work
through an organization and the supply chain; match customers demand to supply chain
activities.
Purchasing - Correct Answers -Identify and quantify suppliers of goods and services;
manage the ongoing buyer-supplier relationships.
Logistics - Correct Answers -Manage the movement of physical goods throughout the
supply chain.
Structural Elements - Correct Answers -Includes tangible resources such as buildings,
equipment, and computer systems.
Infrastructural Elements - Correct Answers -Includes the policies, people, decision rules,
and organizational structure choices made by a firm.
Mission Statement - Correct Answers -This describes what's important to the
organization, called its core values, and identifies the organization's domain.
