SCMN 2150 Test 1 Questions and Answers Already Passed

SCMN 2150 Test 1 Questions and Answers Already Passed what is scm The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? the consumer What does SCM involve? 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. three companys with good supply chains amazon, nike, walmart Supply chain management is important because ...develop collaborative, trusting relationships ...improve customer satisfaction ...rationalize product touch points ...drive out costs and achieve efficiencies Why is SCM important to customers? -Product Availability -Fulfillment Accuracy Why is SCM important to companies? SCM help companies outpace the competition by managing their materials, product, and information flows What do these CEOs have in common? they are former scm execs node A fixed point in a supply chain where valued added processes take place. Goods are processed, transformed, mixed, held, or sold here link The transportation method used to connect the nodes (plants, warehouses, stores) in a supply chain. centralized National Lower investment Lower level Lower cost Higher cost Effective decentralized Regional Greater investment Higher level Higher cost Lower cost Highly effective network fulfillment options Direct delivery, cross dock, and distribution center network design characteristics centralized