SCMN 2150 Exam 1 Questions and Answers Graded A+

SCMN 2150 Exam 1 Questions and Answers Graded A+ What is a supply chain? a collection of organizations, people, activities, information, and resources who is involved in the supply chain? customers, retailers, manufacturers, and suppliers what is supply chain management? All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? SCM helps companies outpace the competition (better, faster, cheaper) essential activities in a supply chain - planning and forecasting - supply management and procurement - operations management and production - logistics and transportation Why is SCM important to customers? -Product Availability -Fulfillment Accuracy who is the most important participant in the supply chain? customers what companies have the best supply chains? 1. schneider electric 2. cisco 3. colgate-palmolive 4. johnson and johnson 5. pepsi what are the 3 key flows of a supply chain? product (deliver), information (share), financial resources (release funds) ultimate goal of supply chains get products to market BETTER, FASTER, CHEAPER logistics network The entities that are involved in moving physical inventory from the source to the retail store node fixed point in supply chain where processes take place link Transportation systems used to connect nodes network design where to locate facilities and what role will they play 7 keys to facility location land, labor, capital, sources of supply, production, markets, logistics centralized design activities concentrated at a single node, network is designed around it decentralized design multiple nodes make up the network benefits of centralized lower inventory, less labor, better visibility, smaller team centralized challenges higher delivery costs,