SCMN 2150 Exam 1 Questions And Answers

What is a supply chain? - Answer-a collection of organizations, people, activities, information, and resources who is involved in the supply chain? - Answer-customers, retailers, manufacturers, and suppliers what is supply chain management? - Answer-All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? - Answer-SCM helps companies outpace the competition (better, faster, cheaper) essential activities in a supply chain - Answer-- planning and forecasting - supply management and procurement - operations management and production - logistics and transportation Why is SCM important to customers? - Answer--Product Availability -Fulfillment Accuracy who is the most important participant in the supply chain? - Answer-customers what companies have the best supply chains? - Answer-1. schneider electric 2. cisco 3. colgate-palmolive 4. johnson and johnson 5. pepsiwhat are the 3 key flows of a supply chain? - Answer-product (deliver), information (share), financial resources (release funds) ultimate goal of supply chains - Answer-get products to market BETTER, FASTER, CHEAPER logistics network - Answer-The entities that are involved in moving physical inventory from the source to the retail store node - Answer-fixed point in supply chain where processes take place link - Answer-Transportation systems used to connect nodes network design - Answer-where to locate facilities and what role will they play 7 keys to facility location - Answer-land, labor, capital, sources of supply, production, markets, logistics centralized design - Answer-activities concentrated at a single node, network is designed around it decentralized design - Answer-multiple nodes make up the network benefits of centralized - Answer-lower inventory, less labor, better visibility, smaller team centralized challenges - Answer-higher delivery costs, potential inefficiencies/issues with regional customers benefits of decentralized - Answer-customer proximity, lower delivery costs, responsive to demand challenges of decentralized - Answer-more safety stock, higher overhead costs, bigger team which has a higher cost for inbound transportation - Answer-decentralizedwhich is national and which is regional - Answer-national: centralized regional: decentralized which has a more effective service level - Answer-decentralized which has higher variable costs? - Answer-centralized which has higher fixed costs? - Answer-decentralized