SCMA exam 2023/2024 with 100% correct answers

Define supply chain management - correct answer The coordination of all supply chain activities involved in enhancing customer value What are the objectives of supply chain management - correct answer to structure the supply chain to maximize its competitive advantage and benefits to the ultimate consumer. What is the objective of logistics management? - correct answer seeks efficiency of operations through the integration of all material acquisition, movement, and storage activities. What are the risks involved with supply chain management - correct answer Supplier failure to deliver Supplier quality failures Outsourcing Logistics delays or damage Distribution Information loss or distortion Political Economic Natural catastrophes Theft, vandalism, and terrorism What is vertical integration - correct answer developing the ability to produce goods or services previously purchased or to actually buy a supplier or a distributor Foward intergration vs backward intergration - correct answer Backward (i.e purchasing its suppliers) Forward (finish goods cusotmers i.e apple creating its own retail stores) What are thre