SCMN 2150 Exam 3 – Final Exam Questions and Answers Already Passed

SCMN 2150 Exam 3 – Final Exam Questions and Answers Already Passed What are the Goals of Technology for SCM (why is it needed)? Optimization - Peak performance of a supply chain requires alignment of resources within and across organizations. Cross-chain Visibility - visibility to events occurring across the supply chain is a pre-requisite for effective decision making. Speed to Market - Properly implemented technologies capture customer requirements, prioritize them, and recommend alternatives to ensure product velocity aligns with customer needs. Agility - Decision support tools provide the ability to model volatility scenarios. This helps the company sense and respond to changing market conditions. Collaboration - Access to a common data pools supports collaboration on strategies, processes, and exception response...linking geographically dispersed supply chains to achieve seamless information sharing. Adaptability - Managers must alter the design and capabilities of a supply chain to meet evolving market conditions. Differentiation - Technology can help an organization align demand and supply to optimize profit, understand the cost to serve customers and prioritize service execution. Risk Management - Companies use predictive analytics and risk management technologies to understand and minimize threats What are the characteristics of high-quality data that ensure its useful to supply chain managers? Accurate - data must be correct and depict reality Accessible - data must be readily available for decision making purposes Relevant - data must contain pertinent details and support analysis Timely - data must be current Transferable - data must be portable and readable by multiple systems Reliable - the data must come from credible sources and be unaltered Usable - the data must support stronger decision making What does supply chain planning software do (multiple definitions)? Supply chain planning 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 do supply chain execution applications do and what are some examples? The applications that direct manufacturing operations, oversee distribution processes like receiving and order fulfillment, and ship products These tools facilitate the efficient use of resources to control supply chain costs and achieve the quality and service requirements. Examples: Manufacturing Execution Systems (MES) Order Management Systems (OMS) Warehouse Management Systems (WMS) Transportation Management Systems (TMS) What do supply chain event management systems do? These systems are like watchdogs monitoring processes inside the four walls of a facility or across the supply chain for unexpected events that are out of tolerance for the plan—like the shortage of parts on an assembly line or the breakdown of equipment in a DC. In case of an event, the system sends an alert to a decision- maker by e-mail or text so immediate action can be taken.By building in work flow rules, the system can offer suggestions that allow a decision-maker to implement the best alternative in terms of cost, time and customer service requirements. What do Business Intelligence Tools do? Business Intelligence (BI) tools extract data from execution systems across the supply chain and provide summaries and data visualization that enable timely identification of anomalies, opportunities and solutions What is Business Analytics? Business Analytics