SCMN 2150 Test with Guaranteed Correct Answers

Supply chain management - correct answer the art of managing the flow of materials and products, information, and financial resources from source to user Who are the key participants and the primary processes in a supply chain - correct answer - Suppliers - Manufacturers - Distributors - Retailers - Consumers (most important) What are the goals of supply chain management - correct answer SCM helps companies outpace the competition by managing their materials, product, and information flows (better, faster, cheaper) How can companies develop a competitive advantage using supply chain management - correct answer Develop relationships, improve customer satisfaction, rationalize product touch points, drive out costs and achieve efficiencies Links - correct answer The transportation method used to connect the nodes in a supply chain Nodes - correct answer (plants, warehouses, stores) a fixed point in a supply chain where valued added processes take place. Goods are processed, transformed, mixed, held, or sold at nodes Centralized network - correct answer One factory that distributes nationally Decentralized network - correct answer Many smaller factories all over the country Direct delivery - correct answer