Supply Chain Management Rutgers Ch1 Questions and Answers Already Passed

Supply Chain Management Rutgers Ch1 Questions and Answers Already Passed what is supply chain management? the coordination of a network of independent organization all involved in creating a desired product or service, an moving it from suppliers out to customers,when and where they want it Supply chain management Delivers value by managing the processes of all those otherwise independent trading partners so that they collaborate with one another Goal of Supply Chain Management Increase Customer Service while simultaneously reducing both inventory investment and operating expenses 2 Main Reasons Firms Implement SCM To Achieve cost savings and better coordinate resources Logistics Refers to activities that occur w/i the purview of a single organization like inventory management,warehousing,distribution and transportation Supply Chain Flow Raw Material Supplies Intermediate Suppliers Finished Product Manufacturers Wholesalers&Distributors Retailers&Consumers Nodes or Links Connected by transportation and warehousing and integrated through information and planning Logistics Part of SCM that plans,implements and controls the flow and storage of good from point of origin to point of consumption Modes of Transportation -Truck -Rail -Air -Pipeline -Water Intermodal Using a combination of any of the other modes of transportation for a single shipment Tier 1 Direct Supplier or Customer Service Supply Chain Cannot be produced in advance or inventoried, the customer provides the tangible item that will receive service -customers play a vital role -the SC is about managing relationships between trading partners SCOR Model Plan--> Source-->Make-->Deliver--><--Return Plan -Establishes the parameters w/i which the supply chain will operate -includes the determination of marketing and disturb. channels,promotions,quantities etc Sourcing the process of identifying the suppliers that provide the materials and services needed for the supply chain to deliver the finished products(s) desired by the customer Make or Manufacturing is the series of operation performed to convert materials into a finished product -quality management is an important aspect of the manufacturing process -most metric intensive portion of supply chain Deliver aka Logistics phase -oversees the planning and execution of the forward flow of goods and related info b/t various points in the supply chain to meet customer