TCU SUPPLY CHAIN MANAGEMENT -
EXAM 1 QUESTIONS AND ANSWERS
What is supply chain management? - Correct Answers -the global network of
organizations and activities involved in
- designing
- transforming
- consuming
- disposing of goods and services
(1) designing a set of goods and services and their related processes,
(2) transforming inputs in to goods and services
(3) consuming these goods and services, and
(4) disposing of these goods and services
-the design and execution of relationships and flows that connect the parties and
processes across a supply chain
Drivers of SCM - Correct Answers -- Visibility
- Consumer behavior
- Speed
- Competition
What is a supply chain? - Correct Answers -The global network of organizations located
in different companies that are involved in converting raw materials into a delivered
finish product.
<<<<<<Information Flow>>>>
Product Flow>>>>>
<<<<<<Cash Flow
What are the components of a supply chain? - Correct Answers -- Upstream: provide
raw materials, components, and services directly related to manufacturing or service
production processes
- Downstream: provide enhancements to finished goods such as assembly, packaging,
storage, and transportation services
- Tier Suppliers: 1st tier supplies directly to firm; 2nd tier provides inputs to the 1st tier
supplier.
, Attributes of Goods - Correct Answers -- tangible
- can be inventoried
- little customer contact
- long lead times
- often capital intensive
- quality easily assessed
- material is transformed
Attributes of Services - Correct Answers -- intangible
- cannot be inventoried
- extensive customer contact
- short lead times
- often labor-intensive
- quality more difficult to assess
What is a process? - Correct Answers -A system of activities that transforms inputs into
valuable outputs. They use resources to transform them.
Transformation Process - Correct Answers -Inputs (Land, Labor, Capital,
Information)>>>>Transformation/Conversion Process (Value Added)>>>>Outputs
(Goods & Services)
**STEP>>>>measurement and feedback>>>>Control>>>>>STEP
Why is Supply Chain Management Important? - Correct Answers -- effects everyone;
everything has a supply chain
- delivery to customer is becoming more complicated
b/c globalization & regulations
- involves numerous organizations
- chain is only as strong as its weakest link
- boosts customer service
- improves bottom line
Why are companies focusing on the supply chain today? - Correct Answers -- delivery
to customer is becoming more complicated
b/c globalization & regulations
- involves numerous organizations
- chain is only as strong as its weakest link
- in the past, companies focused on manufacturing and quality improvements to
influence their supply chains (BUT)
- today, they are quickly realizing the tremendous value they can gain from having
visibility throughout their supply chain
According to ISM, what is the operational importance of SCM? - Correct Answers --
provide an uninterrupted flow of material and services to the operation systems
EXAM 1 QUESTIONS AND ANSWERS
What is supply chain management? - Correct Answers -the global network of
organizations and activities involved in
- designing
- transforming
- consuming
- disposing of goods and services
(1) designing a set of goods and services and their related processes,
(2) transforming inputs in to goods and services
(3) consuming these goods and services, and
(4) disposing of these goods and services
-the design and execution of relationships and flows that connect the parties and
processes across a supply chain
Drivers of SCM - Correct Answers -- Visibility
- Consumer behavior
- Speed
- Competition
What is a supply chain? - Correct Answers -The global network of organizations located
in different companies that are involved in converting raw materials into a delivered
finish product.
<<<<<<Information Flow>>>>
Product Flow>>>>>
<<<<<<Cash Flow
What are the components of a supply chain? - Correct Answers -- Upstream: provide
raw materials, components, and services directly related to manufacturing or service
production processes
- Downstream: provide enhancements to finished goods such as assembly, packaging,
storage, and transportation services
- Tier Suppliers: 1st tier supplies directly to firm; 2nd tier provides inputs to the 1st tier
supplier.
, Attributes of Goods - Correct Answers -- tangible
- can be inventoried
- little customer contact
- long lead times
- often capital intensive
- quality easily assessed
- material is transformed
Attributes of Services - Correct Answers -- intangible
- cannot be inventoried
- extensive customer contact
- short lead times
- often labor-intensive
- quality more difficult to assess
What is a process? - Correct Answers -A system of activities that transforms inputs into
valuable outputs. They use resources to transform them.
Transformation Process - Correct Answers -Inputs (Land, Labor, Capital,
Information)>>>>Transformation/Conversion Process (Value Added)>>>>Outputs
(Goods & Services)
**STEP>>>>measurement and feedback>>>>Control>>>>>STEP
Why is Supply Chain Management Important? - Correct Answers -- effects everyone;
everything has a supply chain
- delivery to customer is becoming more complicated
b/c globalization & regulations
- involves numerous organizations
- chain is only as strong as its weakest link
- boosts customer service
- improves bottom line
Why are companies focusing on the supply chain today? - Correct Answers -- delivery
to customer is becoming more complicated
b/c globalization & regulations
- involves numerous organizations
- chain is only as strong as its weakest link
- in the past, companies focused on manufacturing and quality improvements to
influence their supply chains (BUT)
- today, they are quickly realizing the tremendous value they can gain from having
visibility throughout their supply chain
According to ISM, what is the operational importance of SCM? - Correct Answers --
provide an uninterrupted flow of material and services to the operation systems
