UTK BUAD 331 EXAM 1 VERIFIED ACCURATE STUDY
GUIDE
supply chain - 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.
SCM refers to... - Answers -components that are closer to the raw materials as being
"upstream" and those that occur closer to the customer as being "downstream."
supply chain management - Answers -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
Amazon - Answers -technology company merged with a supply chain
increasing value advantage - Answers -Tailored service, reliability, responsiveness
increasing productivity advantage - Answers -Capacity utilization, asset turns,
integration
4 ways SCM impacts financial performance - Answers -1. increase customer service
2. reduce working capital
3. reduce total costs
4. reduce fixed capital
Evolution of Supply Chain Management - Answers -functional focus, emerging from the
operational areas of procurement, manufacturing, and logistics
SCM Today - Answers -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
SCOR - Answers -plan, source, make, deliver, return
Digitization - Answers -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.
advanced automation and robotics - Answers -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.
, Additive manufacturing (3D printing) - Answers -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.
Mobile Computing - Answers -The widespread adoption of smart phones in markets
around the world has changed the way individuals interact with companies.
(ubertization)
Total Value Optimization - Answers -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.
Strategic Decisions - Answers -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.
operational decisions - Answers -are tactical in nature and made on a daily basis.
These decisions tend to be narrow in scope
Caterpillar Enterprise System Group (CESG). - Answers -A great example of an
organization that has begun the journey to achieve integrated internal operations is
Goal TVO= - Answers -total cost ownership+customer value
the great divide - Answers -demand generating activities VS demand fulfilling activities
70% - Answers -SCM can have an impact up to this amount on earnings per share
procurement - Answers -focuses on quality, innovation, and total relevant value,
including inventory
operations - Answers -focused on quality, innovation, flexibility, and total relevant value
logistics - Answers -focused on customer service and total relevant value
Demand Planning - Answers -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.
supply planning - Answers -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.
GUIDE
supply chain - 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.
SCM refers to... - Answers -components that are closer to the raw materials as being
"upstream" and those that occur closer to the customer as being "downstream."
supply chain management - Answers -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
Amazon - Answers -technology company merged with a supply chain
increasing value advantage - Answers -Tailored service, reliability, responsiveness
increasing productivity advantage - Answers -Capacity utilization, asset turns,
integration
4 ways SCM impacts financial performance - Answers -1. increase customer service
2. reduce working capital
3. reduce total costs
4. reduce fixed capital
Evolution of Supply Chain Management - Answers -functional focus, emerging from the
operational areas of procurement, manufacturing, and logistics
SCM Today - Answers -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
SCOR - Answers -plan, source, make, deliver, return
Digitization - Answers -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.
advanced automation and robotics - Answers -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.
, Additive manufacturing (3D printing) - Answers -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.
Mobile Computing - Answers -The widespread adoption of smart phones in markets
around the world has changed the way individuals interact with companies.
(ubertization)
Total Value Optimization - Answers -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.
Strategic Decisions - Answers -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.
operational decisions - Answers -are tactical in nature and made on a daily basis.
These decisions tend to be narrow in scope
Caterpillar Enterprise System Group (CESG). - Answers -A great example of an
organization that has begun the journey to achieve integrated internal operations is
Goal TVO= - Answers -total cost ownership+customer value
the great divide - Answers -demand generating activities VS demand fulfilling activities
70% - Answers -SCM can have an impact up to this amount on earnings per share
procurement - Answers -focuses on quality, innovation, and total relevant value,
including inventory
operations - Answers -focused on quality, innovation, flexibility, and total relevant value
logistics - Answers -focused on customer service and total relevant value
Demand Planning - Answers -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.
supply planning - Answers -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.
