MGT 4330- Davis Final Exam with perfect answers 2024

What is a supply chain? correct answers Key subsystem of a value chain that focuses on physical movement of goods and materials -supports information through the supply, production, and distribution processes Coordinates the flow of materials, services, and information among the elements to MAXIMIZE customer value. What are the supply chain key functions? correct answers -Purchasing and Procurement of materials and supplies -Sales and order processing -Operations -Inventory and Materials Management -Transportation and distribution -Information Management -Finance -Customer Service Explain the concept of supply chain management correct answers Management of ALL activities that facilitate the FULFILLMENT of a customer order for manufactured goods -To achieve SATISFIED customers at a REASONABLE COST What do supply chain managers manage? correct answers -Materials within supply chain -Flows of information and money that are necessary to coordinate activities within the supply chain Describe the functions of contract manufacturers correct answers Firm that specializes in certain types of goods-producing activities -Customized design -manufacturing -assembly, and packaging -works under contract for end users What are the advantages of using contract manufacturing? correct answers -Access to advanced manufacturing technologies -Faster product time-to-market -Customization of goods in regional markets -Lower total costs resulting from economies of scale