SCMN 2150 Exam 3 Barto Questions & Answers Solved 100% Correct!!

what are the key supply chain data requirements - Answer-1. Accurate 2. Accessible 3. Relevant 4. Timely 5. Transferable 6. Reliable 7. Usable what are the goals of supply chain planning - Answer-solutions support the forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand. SCP software sits on top of a transactional system to provide planning, what-if scenario analysis capabilities and real-time demand commitments, considering constraints. what are the benefits of supply chain information technology - Answer-Has a positive impact on organizational performance. Benefits: 1. Cross chain visibility 2. Speed up process 3. Allows agility (adapt and change) 4. Collaboration (internal or external data pools) 5. Differentiation 6. Risk management what are the capabilities of supply chain planning - Answer-1. Configure - support a company's efforts designing their supply chains, accounting for future alternative operating models/ trade-offs between different configuration. 2. Optimize - creation and evaluation of optimal plans within the context of the company's current operating model. 3. Respond - support ability to profitably respond to changes in any aspect of execution in a near-realtime are the major categories of supply chain software - Answer-1. Supply Chain Planning 2. Supply Chain Execution 3. Event Management & Visibility 4. Business Intelligence 5. Facilitating tools what is business intelligence - Answer-Extract key data across the supply chain and provide to decision makers standard and ad hoc reporting, dashboards, alerts, queries. structured data, traditional sources, manageable data sets. What happened last quarter, how many did we sell, wheres the problem what is predictive analytics - Answer-optimization, predictive modeling, forecasting, statistical analysis. structured/unstructured data, internal/external data, massive data sets what if, whats the optimal scenario for our business, what will happen next, what if these trends continue, why is this happening How is global SCM different from domestic SCM? - Answer-Global SCM focuses on planning, implementing, and controlling the cross-border flows of materials, money and information between companies in different countries Global networks are more complicated -multiple participants -new types of orgs & role players -Global logistics operations are more challenging -greater distance & +3 distinct moves -extensive product handling -shipment visibility issues what is the purpose of global sourcing - Answer-capacity access, risk reduction, supplier innovationWhat costs and risks must be considered for global sourcing? - Answer-longer lead times, high transportation cost, higher logistics costs via inventory, increased chance for in transit damage and theft, reduced supply chain visibility, and lower intellectual property protection what are the drivers of global sourcing - Answer-social changes, technology, the environment, economics, and politics what are the advantages of global sourcing - Answer-reducing costs, growth in developing countries, improve quality, respond quickly to a changing market