SCMN 2150 Test 1 Questions & Answers

SCMN 2150 Test 1 Questions & Answers what is scm - ANS-The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? - ANS-suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? - ANS-the consumer What does SCM involve? - ANS-all the activities that take place to get a product in your hands - from the time of raw materials extraction to the minute you pull out your credit card and take the final product home. three companys with good supply chains - ANS-amazon, nike, walmart Supply chain management is important because - ANS-...develop collaborative, trusting relationships ...improve customer satisfaction ...rationalize product touch points ...drive out costs and achieve efficiencies Why is SCM important to customers? - ANS--Product Availability -Fulfillment Accuracy Why is SCM important to companies? - ANS-SCM help companies outpace the competition by managing their materials, product, and information flows What do these CEOs have in common? - ANS- Continues...