ISM EXAM 3 QUESTIONS AND VERIFIED ACCURATE
ANSWERS
Involves the management of information flows between & among stages in a supply
chain to maximize total supply chain effectiveness and profitability. - answers - supply
chain management
What are the five basic components of scm - answers - plan, source, make, deliver,
return.
What is the benefits of supply chain visibility - answers - primarily to be able to react
quickly to changes in demand in the marketplace.
"eliminates the middle man" - answers - disintermediation (removing steps)
Primarily intra-organizational (used within a single organization). - answers - erp
(enterprise resource planning)
Integrates all departments and functions throughout an organization into a single it
system (or integrated set of it systems) so that employees can make enterprise-wide
decisions by viewing enterprise-wide information on all business operations - answers -
erp
The oversight of materials, information, and finances as they move from supplier to
manufacturer to wholesaler to retailer to consumer - answers - scm
Is largely inter-organizational (used across organizations). - answers - scm
What are the 3 supply chain decisions - answers - production, inventory, transportation.
A set of processes that plans for and controls the efficient & effective transportation and
storage of supplies from suppliers to customers. - answers - logistics
What are the 5 scm best practices - answers - 1. Make the sale to suppliers.
2. Wean employees off traditional business practices.
3. Ensure the scm system supports the organizational goals.
4. Deploy in incremental phases and measure and communicate success.
5. Be future oriented.
Provides control and visibility to the status of individual items maintained in inventory. -
answers - inventory management and control software/inventory management system
, The average amount of inventory held to satisfy customer demands between inventory
deliveries. - answers - cycle inventory
Extra inventory held in the event demand exceeds supply. - answers - safety inventory
Materials flow from suppliers and their "upstream" suppliers at all levels; distribution of
products to customers and their "downstream" customers at all levels. - answers -
upstream and downstream links in the supply chain
The flow of the information from the customer to the supplier or supplier's supplier -
answers - upstream
Who always starts the process of upstream? - answers - customer
What does supply chain begin with - answers - customer demand, and it then flows
upstream.
Where does money always flow - answers - upstream
Where is revenue received - answers - at the upstream end of the transaction
Distribution of products to customers and their "downstream" customers at all levels. -
answers - downstream links in the supply chain
Is the flow of the information or product from supplier to customer or customer's
customer. - answers - downstream
What is an example of downstream - answers - materials and products
Occurs when distorted product demand information passes from one entity to the next
throughout the supply chain. - answers - bull-whip effect
Automates the various steps & stages of the supply chain system. - answers - supply
chain execution software
Generates demand forecasts using statistical tools & forecasting techniques. - answers
- demand planning software
Involves managing all aspects of a customer's relationship with an organization to
increase customer loyalty & retention and an organization's profitability. - answers -
customer relations management (crm)
What are the 3 crm components - answers - 1. Reporting
2. Analyzing
3. Predicting
ANSWERS
Involves the management of information flows between & among stages in a supply
chain to maximize total supply chain effectiveness and profitability. - answers - supply
chain management
What are the five basic components of scm - answers - plan, source, make, deliver,
return.
What is the benefits of supply chain visibility - answers - primarily to be able to react
quickly to changes in demand in the marketplace.
"eliminates the middle man" - answers - disintermediation (removing steps)
Primarily intra-organizational (used within a single organization). - answers - erp
(enterprise resource planning)
Integrates all departments and functions throughout an organization into a single it
system (or integrated set of it systems) so that employees can make enterprise-wide
decisions by viewing enterprise-wide information on all business operations - answers -
erp
The oversight of materials, information, and finances as they move from supplier to
manufacturer to wholesaler to retailer to consumer - answers - scm
Is largely inter-organizational (used across organizations). - answers - scm
What are the 3 supply chain decisions - answers - production, inventory, transportation.
A set of processes that plans for and controls the efficient & effective transportation and
storage of supplies from suppliers to customers. - answers - logistics
What are the 5 scm best practices - answers - 1. Make the sale to suppliers.
2. Wean employees off traditional business practices.
3. Ensure the scm system supports the organizational goals.
4. Deploy in incremental phases and measure and communicate success.
5. Be future oriented.
Provides control and visibility to the status of individual items maintained in inventory. -
answers - inventory management and control software/inventory management system
, The average amount of inventory held to satisfy customer demands between inventory
deliveries. - answers - cycle inventory
Extra inventory held in the event demand exceeds supply. - answers - safety inventory
Materials flow from suppliers and their "upstream" suppliers at all levels; distribution of
products to customers and their "downstream" customers at all levels. - answers -
upstream and downstream links in the supply chain
The flow of the information from the customer to the supplier or supplier's supplier -
answers - upstream
Who always starts the process of upstream? - answers - customer
What does supply chain begin with - answers - customer demand, and it then flows
upstream.
Where does money always flow - answers - upstream
Where is revenue received - answers - at the upstream end of the transaction
Distribution of products to customers and their "downstream" customers at all levels. -
answers - downstream links in the supply chain
Is the flow of the information or product from supplier to customer or customer's
customer. - answers - downstream
What is an example of downstream - answers - materials and products
Occurs when distorted product demand information passes from one entity to the next
throughout the supply chain. - answers - bull-whip effect
Automates the various steps & stages of the supply chain system. - answers - supply
chain execution software
Generates demand forecasts using statistical tools & forecasting techniques. - answers
- demand planning software
Involves managing all aspects of a customer's relationship with an organization to
increase customer loyalty & retention and an organization's profitability. - answers -
customer relations management (crm)
What are the 3 crm components - answers - 1. Reporting
2. Analyzing
3. Predicting
