MGT 8803 Supply Chain Exam UPDATED ACTUAL
Questions and CORRECT Answers
Terms in this set (81)
What is the primary goal of Operations and to develop capabilities to design, produce and deliver
Supply Chain Managers? products and services in a competitive market (increase
revenue and decrease costs)
Which capabilities drive performance? - products and service features
- reducing costs
- quality control
- time to market
- ability to innovate (make new things)
, Primary process of OSCM (6) 1. plan: what to do
2. source: where to get
3. make: product/service
4. deliver: product/service
5. return: handle customer returns
6. engage: look at how to improve other 5 steps
consequences of bad supply chain - loss of productivity
- customer complaints
- increased costs (ex: expediting)
- loss of revenue
- damage to brand
lean elimination of waste (inventory = waste); supply
product/service to customer in most efficient way possible
Supply Chain Strategy - long term
- competitive
considerations: network configuration, supply chain model,
outsourcing, vertical integration
Supply Chain Operations Planning - medium term
- tactical
considerations: lean, sales and operation planning, inventory
management
Supply Chain Execution - short term
- operational
considerations: scheduling people, equipment, products, and
services
Responsive SC - respond quickly to unpredictable demand changes
- minimize stockouts, lost sales, etc.
- deploy capacity flexibility
- deploy safety stocks of parts or finished goods (save
inventory)
- invest to reduce lead time
- speed, flexibility, and quality
Efficient SC - cost conscious
- supply predictable, stable demand
- high average utilization rate (use most capacity)
- high turns and minimize inventory (replace inventory)
- reduce lead time IF it does not increase cost
- cost and quality
lead time time between ordering a good or service and receiving it
Questions and CORRECT Answers
Terms in this set (81)
What is the primary goal of Operations and to develop capabilities to design, produce and deliver
Supply Chain Managers? products and services in a competitive market (increase
revenue and decrease costs)
Which capabilities drive performance? - products and service features
- reducing costs
- quality control
- time to market
- ability to innovate (make new things)
, Primary process of OSCM (6) 1. plan: what to do
2. source: where to get
3. make: product/service
4. deliver: product/service
5. return: handle customer returns
6. engage: look at how to improve other 5 steps
consequences of bad supply chain - loss of productivity
- customer complaints
- increased costs (ex: expediting)
- loss of revenue
- damage to brand
lean elimination of waste (inventory = waste); supply
product/service to customer in most efficient way possible
Supply Chain Strategy - long term
- competitive
considerations: network configuration, supply chain model,
outsourcing, vertical integration
Supply Chain Operations Planning - medium term
- tactical
considerations: lean, sales and operation planning, inventory
management
Supply Chain Execution - short term
- operational
considerations: scheduling people, equipment, products, and
services
Responsive SC - respond quickly to unpredictable demand changes
- minimize stockouts, lost sales, etc.
- deploy capacity flexibility
- deploy safety stocks of parts or finished goods (save
inventory)
- invest to reduce lead time
- speed, flexibility, and quality
Efficient SC - cost conscious
- supply predictable, stable demand
- high average utilization rate (use most capacity)
- high turns and minimize inventory (replace inventory)
- reduce lead time IF it does not increase cost
- cost and quality
lead time time between ordering a good or service and receiving it
