SCMN Test 1 Study Guide Questions And Answers 2023

SCMN Test 1 Study Guide Questions And Answers 2023 What is SCM and why is it important? - Answer-includes 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. . BETTER FASTER CHEAPER and provides valuable opportunities to create competitive advantage. Who are the key participants in SCM? - Answer-Suppliers --> manufacturers --> distributors --> retailers - -> consumers What are the primary processes in SCM? - Answer-planning, procurement, production, distribution, customer interface What are the goals of SMN? - Answer-Customer care, competitiveness, efficiency, responsiveness, resiliency. How can organizations build competitive advantages via SCM - Answer-Develop collaborative, trusting relationships. Improve customer satisfaction. Rationalize product touch points. Drive out costs and achieve tremendous efficiencies. What are links? - Answer-The transportation method used to connect the nodes (plants, warehouses) in a supply chain What are nodes? - Answer-A fixed point in a supply chain where goods are processed, mixed, held, or sold What value-adding process takes place at supply chain nodes? - Answer-Incoming materials are converted into a more valuable state (quantity, assortment, form) to meet downstream customer needs. Centralized network - Answer-the single node controls customer interaction, the flow of goods, and other key activities on a national basis ex: L.L. Bean - National Distribution - Lower inventory investment - Lower safety stock levels - Lower inbound transportation cost -Higher outbound transportation cost - effective service levels Decentralized network - Answer-each node controls customer interaction, the flow of goods, and other key activities within its region ex: Kroger -Regional Distribution -Greater Inventory Investment -Higher level safety stock -Higher Inbound Transportation cost -Lower Outbound Transportation cost -Highly effective service levels direct distribution - Answer-s