SCMN 2150 Test 1 with Complete
Solutions
What is Supply Chain Management? - ANSWER-Includes all the activities that take
place to get a product in your hands - from the time of raw materials extraction to the
minute you pull out your credit card and take the final product home
7 Principles of Supply Chain Management - ANSWER-1. Segment customers based on
service needs
2. Customize the logistics network
3. Drive operations from demand
4. Differentiate product closer to the customer
5. Source strategically
6. Develop supply chain-wide technology strategy
7. Use supply chain spanning performance measures
Why is Supply Chain Management important? - ANSWER-Allows us to support
customer requirements better, faster, and cheaper than ever before
Which of the following it NOT a key goal of supply chain management?
Customer Care
Competitiveness
Efficiency
Responsiveness and Resiliency
Product innovation - ANSWER-Product innovation
Which of the following is NOT an essential function of a supply chain?
What the company wants to buy, build, and/or sell
, How will the company make in-house or buy from quality suppliers
How will the company transform input into output
What will be the pricing structure that the company will use
How will components and finished goods be moved to locations where they are needed
- ANSWER-What will be the pricing structure that the company will use
Who are the key participants in a supply chain? - ANSWER-Consumers, retailers,
distributors, manufacturers, suppliers
What are the primary processes a supply chain? - ANSWER-Plan, buy, make, move,
serve
What are the goals of SCM? - ANSWER-Customer care, competitiveness, efficiency,
responsiveness & resilience
How can organizations build competitive advantage via SCM? - ANSWER-Competitive
supply chain capabilities must be developed and implemented in sequential fashion
What are key supply chain information requirements? - ANSWER-Supply chain
managers can only derive valuable insights from data that is:
Accurate
Accessible
Relevant
Timely
Transferable
Reliable
Usable
True or False: Supply chain managers can still derive valuable insights from low quality
data - ANSWER-False
What benefits and capabilities are created by supply chain information technology? -
ANSWER-Optimization
Cross-Chain Visibility
Speed to Market
Agility
Collaboration
Adaptability
Solutions
What is Supply Chain Management? - ANSWER-Includes all the activities that take
place to get a product in your hands - from the time of raw materials extraction to the
minute you pull out your credit card and take the final product home
7 Principles of Supply Chain Management - ANSWER-1. Segment customers based on
service needs
2. Customize the logistics network
3. Drive operations from demand
4. Differentiate product closer to the customer
5. Source strategically
6. Develop supply chain-wide technology strategy
7. Use supply chain spanning performance measures
Why is Supply Chain Management important? - ANSWER-Allows us to support
customer requirements better, faster, and cheaper than ever before
Which of the following it NOT a key goal of supply chain management?
Customer Care
Competitiveness
Efficiency
Responsiveness and Resiliency
Product innovation - ANSWER-Product innovation
Which of the following is NOT an essential function of a supply chain?
What the company wants to buy, build, and/or sell
, How will the company make in-house or buy from quality suppliers
How will the company transform input into output
What will be the pricing structure that the company will use
How will components and finished goods be moved to locations where they are needed
- ANSWER-What will be the pricing structure that the company will use
Who are the key participants in a supply chain? - ANSWER-Consumers, retailers,
distributors, manufacturers, suppliers
What are the primary processes a supply chain? - ANSWER-Plan, buy, make, move,
serve
What are the goals of SCM? - ANSWER-Customer care, competitiveness, efficiency,
responsiveness & resilience
How can organizations build competitive advantage via SCM? - ANSWER-Competitive
supply chain capabilities must be developed and implemented in sequential fashion
What are key supply chain information requirements? - ANSWER-Supply chain
managers can only derive valuable insights from data that is:
Accurate
Accessible
Relevant
Timely
Transferable
Reliable
Usable
True or False: Supply chain managers can still derive valuable insights from low quality
data - ANSWER-False
What benefits and capabilities are created by supply chain information technology? -
ANSWER-Optimization
Cross-Chain Visibility
Speed to Market
Agility
Collaboration
Adaptability
