utk buad 331 exam 1 Questions and Answers 2024

chain - Correct Answer consists of organizations, people, activities, information, and resources involved in moving a product or service from the origins of supply all the way to the point of final consumption. SCM refers to... - Correct Answer components that are closer to the raw materials as being "upstream" and those that occur closer to the customer as being "downstream." supply chain management - Correct Answer is the systematic coordination of traditional business functions within a particular organization and across organizations within the supply chain for the purposes of improving the long-term performance of the individual enterprises and the system as a whole Amazon - Correct Answer technology company merged with a supply chain increasing value advantage - Correct Answer Tailored service, reliability, responsiveness increasing productivity advantage - Correct Answer Capacity utilization, asset turns, integration 4 ways SCM impacts financial performance - Correct Answer 1. increase customer service 2. reduce working capital 3. reduce total costs 4. reduce fixed capital Evolution of Supply Chain Management - Correct Answer functional focus, emerging from the operational areas of procurement, manufacturing, and logistics SCM Today - Correct Answer an integrated end-to-end concept that crosses not only internal functional boundaries but also organizations that include suppliers' suppliers, suppliers to customers and end-consumers and all the intermediary goods and service firms in between SCOR - Correct Answer plan, source, make, deliver, return Digitization - Correct Answer is related to the ability to structure and exchange massive amounts of data, to make sense of that data to drive decisions, and even to apply data to deliver products or services.