SCMT 21003 STEPHANIE THOMAS -
EXAM 1 QUESTIONS AND ANSWERS
Supply Chain management is all about managing - Correct Answers -Risks
Relationships
Trade Offs
Pre-Industrial - Correct Answers -Improved shipping technologies allow for a large-scale
international trade and product exchange.
1800s - Correct Answers -The industrial Revolution mechanizes manufacturing
processes.
1900s - Correct Answers -Malcolm McLean invents standard steel shipping container
Ancient Civilization - Correct Answers -Trade routes move limited high value goods
around the world
2000s - Correct Answers -Technology enables major advances that were previously
unattainable
Supply Chain Management - Correct Answers -The art and science of integrating the
flows of products, information and financials through the entire supply pipeline from the
supplier's supplier to the customer's customer.
-Suppliers
-Contracted Manufacturers
-Manufacturers
-Wholesalers/ Distributors
-Retailers/ Customers
Biggest catalyst for change in supply chain (in her opinion) - Correct Answers -Malcolm
Mclean
(Was the inverter of the standard steel shipping container) and then after that it would
be technology.
A supply chain - Correct Answers -A set of three or more organizations directly linked by
one or more of the upstream and downstream flows of products, services, finances, and
information from a source to a customer.
, Left brained/ Right Brained - Correct Answers -One side is more creative and the other
is more number oriented.
Supply chain is a mix of both.
Risk Categories - Correct Answers --Design
-quality
-cost
-availability
-financial
-legal
-manufacturability
-supply
-environmental
-health
-safety
Trade-offs - Correct Answers -The strategic equivalent of a fork in the road. If you take
one path, you cannot simultaneously take the other."
Example:
when you buy the name brand cereal, you are making a trade-off against purchasing
the generic brand and using the additional savings to buy another item you may not
have been able to afford otherwise
Supply chains consist of - Correct Answers -A series of buying and selling Relationships
5 Common Supply Chain Tradeoffs - Correct Answers -- Lot Size (inventory)
- Inventory-Transportation cost
-Lead time - transportation cost
-Product variety - inventory
-Cost - customer service
Lot Size (Inventory) - Correct Answers -A common SC Tradeoff
•While larger lot sizes provide production efficiencies, demand rarely comes in large or
standard lot sizes.
•Large lots lead to high inventory in anticipation of demand.
EXAM 1 QUESTIONS AND ANSWERS
Supply Chain management is all about managing - Correct Answers -Risks
Relationships
Trade Offs
Pre-Industrial - Correct Answers -Improved shipping technologies allow for a large-scale
international trade and product exchange.
1800s - Correct Answers -The industrial Revolution mechanizes manufacturing
processes.
1900s - Correct Answers -Malcolm McLean invents standard steel shipping container
Ancient Civilization - Correct Answers -Trade routes move limited high value goods
around the world
2000s - Correct Answers -Technology enables major advances that were previously
unattainable
Supply Chain Management - Correct Answers -The art and science of integrating the
flows of products, information and financials through the entire supply pipeline from the
supplier's supplier to the customer's customer.
-Suppliers
-Contracted Manufacturers
-Manufacturers
-Wholesalers/ Distributors
-Retailers/ Customers
Biggest catalyst for change in supply chain (in her opinion) - Correct Answers -Malcolm
Mclean
(Was the inverter of the standard steel shipping container) and then after that it would
be technology.
A supply chain - Correct Answers -A set of three or more organizations directly linked by
one or more of the upstream and downstream flows of products, services, finances, and
information from a source to a customer.
, Left brained/ Right Brained - Correct Answers -One side is more creative and the other
is more number oriented.
Supply chain is a mix of both.
Risk Categories - Correct Answers --Design
-quality
-cost
-availability
-financial
-legal
-manufacturability
-supply
-environmental
-health
-safety
Trade-offs - Correct Answers -The strategic equivalent of a fork in the road. If you take
one path, you cannot simultaneously take the other."
Example:
when you buy the name brand cereal, you are making a trade-off against purchasing
the generic brand and using the additional savings to buy another item you may not
have been able to afford otherwise
Supply chains consist of - Correct Answers -A series of buying and selling Relationships
5 Common Supply Chain Tradeoffs - Correct Answers -- Lot Size (inventory)
- Inventory-Transportation cost
-Lead time - transportation cost
-Product variety - inventory
-Cost - customer service
Lot Size (Inventory) - Correct Answers -A common SC Tradeoff
•While larger lot sizes provide production efficiencies, demand rarely comes in large or
standard lot sizes.
•Large lots lead to high inventory in anticipation of demand.
