UTK BUAD 331 EXAM 1 QUESTIONS
AND ANSWERS
consists of organizations, people, activities, information, and resources involved in
moving a product or service from the origins of supply all the way to the point of final
consumption. - ANS-supply chain
components that are closer to the raw materials as being "upstream" and those that
occur closer to the customer as being "downstream." - ANS-SCM refers to...
is the systematic coordination of traditional business functions within a particular
organization and across organizations within the supply chain for the purposes of
improving the long-term performance of the individual enterprises and the system as a
whole - ANS-supply chain management
technology company merged with a supply chain - ANS-Amazon
Tailored service, reliability, responsiveness - ANS-increasing value advantage
Capacity utilization, asset turns, integration - ANS-increasing productivity advantage
1. increase customer service
2. reduce working capital
3. reduce total costs
4. reduce fixed capital - ANS-4 ways SCM impacts financial performance
functional focus, emerging from the operational areas of procurement, manufacturing,
and logistics - ANS-Evolution of Supply Chain Management
an integrated end-to-end concept that crosses not only internal functional boundaries
but also organizations that include suppliers' suppliers, suppliers to customers and end-
consumers and all the intermediary goods and service firms in between - ANS-SCM
Today
plan, source, make, deliver, return - ANS-SCOR
is related to the ability to structure and exchange massive amounts of data, to make
sense of that data to drive decisions, and even to apply data to deliver products or
services. - ANS-Digitization
, are creating previously unattainable levels of speed and agility in operations with
improved quality levels that have the potential to drive productivity to new levels. - ANS-
advanced automation and robotics
has the potential to change the basic economics of the job shop operating environment,
enabling highly specific machining on site quickly and at low cost. - ANS-Additive
manufacturing (3D printing)
The widespread adoption of smart phones in markets around the world has changed the
way individuals interact with companies. (ubertization) - ANS-Mobile Computing
involves finding the optimal balance between increasing revenue or market share and
minimizing total cost, including cost of goods sold, transportation costs, conversion
costs, warehousing and distribution costs, and costs of inventory throughout the system.
- ANS-Total Value Optimization
long-term decisions that set the direction for a firm. These decisions determine what
market a firm will compete in and how the firm will differentiate itself from its
competitors. - ANS-Strategic Decisions
are tactical in nature and made on a daily basis. These decisions tend to be narrow in
scope - ANS-operational decisions
A great example of an organization that has begun the journey to achieve integrated
internal operations is - ANS-Caterpillar Enterprise System Group (CESG).
total cost ownership+customer value - ANS-Goal TVO=
demand generating activities VS demand fulfilling activities - ANS-the great divide
SCM can have an impact up to this amount on earnings per share - ANS-70%
focuses on quality, innovation, and total relevant value, including inventory - ANS-
procurement
focused on quality, innovation, flexibility, and total relevant value - ANS-operations
focused on customer service and total relevant value - ANS-logistics
is the process by which customer demand for upcoming time periods is estimated at
appropriate levels of detail to allow the business to make necessary preparations. -
ANS-Demand Planning
process takes the demand forecast and plans what materials need to be purchased
from suppliers over the coming periods. This process normally has multiple levels. -
ANS-supply planning
AND ANSWERS
consists of organizations, people, activities, information, and resources involved in
moving a product or service from the origins of supply all the way to the point of final
consumption. - ANS-supply chain
components that are closer to the raw materials as being "upstream" and those that
occur closer to the customer as being "downstream." - ANS-SCM refers to...
is the systematic coordination of traditional business functions within a particular
organization and across organizations within the supply chain for the purposes of
improving the long-term performance of the individual enterprises and the system as a
whole - ANS-supply chain management
technology company merged with a supply chain - ANS-Amazon
Tailored service, reliability, responsiveness - ANS-increasing value advantage
Capacity utilization, asset turns, integration - ANS-increasing productivity advantage
1. increase customer service
2. reduce working capital
3. reduce total costs
4. reduce fixed capital - ANS-4 ways SCM impacts financial performance
functional focus, emerging from the operational areas of procurement, manufacturing,
and logistics - ANS-Evolution of Supply Chain Management
an integrated end-to-end concept that crosses not only internal functional boundaries
but also organizations that include suppliers' suppliers, suppliers to customers and end-
consumers and all the intermediary goods and service firms in between - ANS-SCM
Today
plan, source, make, deliver, return - ANS-SCOR
is related to the ability to structure and exchange massive amounts of data, to make
sense of that data to drive decisions, and even to apply data to deliver products or
services. - ANS-Digitization
, are creating previously unattainable levels of speed and agility in operations with
improved quality levels that have the potential to drive productivity to new levels. - ANS-
advanced automation and robotics
has the potential to change the basic economics of the job shop operating environment,
enabling highly specific machining on site quickly and at low cost. - ANS-Additive
manufacturing (3D printing)
The widespread adoption of smart phones in markets around the world has changed the
way individuals interact with companies. (ubertization) - ANS-Mobile Computing
involves finding the optimal balance between increasing revenue or market share and
minimizing total cost, including cost of goods sold, transportation costs, conversion
costs, warehousing and distribution costs, and costs of inventory throughout the system.
- ANS-Total Value Optimization
long-term decisions that set the direction for a firm. These decisions determine what
market a firm will compete in and how the firm will differentiate itself from its
competitors. - ANS-Strategic Decisions
are tactical in nature and made on a daily basis. These decisions tend to be narrow in
scope - ANS-operational decisions
A great example of an organization that has begun the journey to achieve integrated
internal operations is - ANS-Caterpillar Enterprise System Group (CESG).
total cost ownership+customer value - ANS-Goal TVO=
demand generating activities VS demand fulfilling activities - ANS-the great divide
SCM can have an impact up to this amount on earnings per share - ANS-70%
focuses on quality, innovation, and total relevant value, including inventory - ANS-
procurement
focused on quality, innovation, flexibility, and total relevant value - ANS-operations
focused on customer service and total relevant value - ANS-logistics
is the process by which customer demand for upcoming time periods is estimated at
appropriate levels of detail to allow the business to make necessary preparations. -
ANS-Demand Planning
process takes the demand forecast and plans what materials need to be purchased
from suppliers over the coming periods. This process normally has multiple levels. -
ANS-supply planning
