SCMN EXAM 3 with Accurate Solutions
What are key supply chain information requirements? - ANSWER--Accuracy
-Relevance
-Current (timely)
-Reliable
-Transferable
-Usable
What benefits and capabilities are created by supply chain information technology? -
ANSWER--Optimization
-Cross-chain visibility
-Speed to market
-Agility
-Collaboration
-Adaptability
-Differentation
-Risk management
What are the types of supply chain software available to help managers? - ANSWER--
Supply Chain Planning
-Supply Chain Execution
-Event Management & Visibility
-Business Intelligence
-Facilitation Tools
Supply Chain Planning - ANSWER--provide accurate, detailed info about issues that
affect planning and development of supply chain activities.
Goal: transition from manual planning to an integrated system that leverages real time
data and collaboration.
Supply Chain Execution - ANSWER--facilitates improved performance of tasks across
the supply chain.
Applications:
-Warehouse management systems
-Transportation management systems
-Manufacturing execution systems
-Global trade management tools
-Distributed order management tools
Event Management & Visibility - ANSWER--helps manage problems and provide
accurate, timely info to ensure the right product gets to the right place at the right time.
,Goals:
-Keep managers informed
-Provide visibility of critical flows
-Provide early warning signals
-Trigger corrective actions
-Aid decision-makers
Business Intelligence - ANSWER--extract key data across the supply chain and provide
it for key decision-makers.
Support:
-Self-service reporting
-Performance scorecarding
-Dashboard development
-Activity monitoring
-Cross-chain collaboration
Facilitation Tools - ANSWER--Enterprise resource planning systems
-Supplier relationship management software
-Customer relationship management tools
-Automatic I.D. tools
What future capabilities are emerging from these types of supply chain software? -
ANSWER--Cloud Computing
-Mobile Technology (e.g., tablets, scanners, RFID tags)
-Analytics
the combination of skills, technologies, applications and processes used by orgs to gain
insight in to their business based on data and statistics to drive business planning. -
ANSWER-Business Analytics
the design & managment of a supply chain that controls the flows of materials, money,
& info into, through, & out of the firm across national boundaries to achieve its corporate
objectives at a minimum total cost. - ANSWER-Global Supply Chain Managment
How is global SCM different from domestic SCM? - ANSWER--As companies move
from National to Global operations, supply chain size and complexity grow dramatically.
-Global networks are more complicated
-multiple participants
-new types of orgs & role players
-Global logistics operations are more challenging
-greater distance & +3 distinct moves
-extensive product handling
-shipment visibility issues
How does Globalization impact day-to-day operations? - ANSWER--Inventory is Higher
-Facilities Network are More Difficult to Control
, -Transportation is More Difficult & Costly
-Service is Slower & More Costly
What is the purpose of Global Sourcing? - ANSWER--Entails identifying, evaluating,
negotiating and configuring supply across multiple geographies to reduce costs,
maximize performance and mitigate risks.
-Aims to leverage global efficiencies in the creation of a product or service.
-Manufacturing & assembly operations
-Call center operations
-IT programming
What costs must be compared when considering Global Sourcing? - ANSWER--
Material costs
-Transportation costs
-Inventory carrying costs
-Cross-border taxes, tariffs, and duty costs
What is Offshore Manufacturing? - ANSWER--Production of goods by one firm, under
the label or brand of another firm.
What are the advantages of Offshore Manufacturing? - ANSWER--labor costs are
cheaper, quickly rising
-strengthens competitive advantage
-able to leverage the comparative advantage of other nations
-gain market share
-help grow total market by innovation and introducing new products
What are the disadvantages of Offshore Manufacturing? - ANSWER--communication
involves difficult, heavy paperwork
-visibility is more challenging to maintain
-freight is more expensive, more risky
-stockouts have higher risk of shortages
-lead time is uncertain and longer cycle time
Why is the trend of Nearshoring & Onshoring taking place? - ANSWER--With increased
global competition & pressure to reduce costs, became more competitive & innovative,
many companies are turning to these based outsourcing vendors.
What is Nearshoring? - ANSWER--The practice of moving one's employees or business
activities from a distant country back to a country that is nearby.
What are INCOTERMS? - ANSWER--International rules that are accepted by
governments, legal authorities, and practitioners worldwide for the interpretation of the
most commonly used terms in international trade.
-They either reduce or remove altogether uncertainties arising from differing
interpretations of such terms in different countries.
What are key supply chain information requirements? - ANSWER--Accuracy
-Relevance
-Current (timely)
-Reliable
-Transferable
-Usable
What benefits and capabilities are created by supply chain information technology? -
ANSWER--Optimization
-Cross-chain visibility
-Speed to market
-Agility
-Collaboration
-Adaptability
-Differentation
-Risk management
What are the types of supply chain software available to help managers? - ANSWER--
Supply Chain Planning
-Supply Chain Execution
-Event Management & Visibility
-Business Intelligence
-Facilitation Tools
Supply Chain Planning - ANSWER--provide accurate, detailed info about issues that
affect planning and development of supply chain activities.
Goal: transition from manual planning to an integrated system that leverages real time
data and collaboration.
Supply Chain Execution - ANSWER--facilitates improved performance of tasks across
the supply chain.
Applications:
-Warehouse management systems
-Transportation management systems
-Manufacturing execution systems
-Global trade management tools
-Distributed order management tools
Event Management & Visibility - ANSWER--helps manage problems and provide
accurate, timely info to ensure the right product gets to the right place at the right time.
,Goals:
-Keep managers informed
-Provide visibility of critical flows
-Provide early warning signals
-Trigger corrective actions
-Aid decision-makers
Business Intelligence - ANSWER--extract key data across the supply chain and provide
it for key decision-makers.
Support:
-Self-service reporting
-Performance scorecarding
-Dashboard development
-Activity monitoring
-Cross-chain collaboration
Facilitation Tools - ANSWER--Enterprise resource planning systems
-Supplier relationship management software
-Customer relationship management tools
-Automatic I.D. tools
What future capabilities are emerging from these types of supply chain software? -
ANSWER--Cloud Computing
-Mobile Technology (e.g., tablets, scanners, RFID tags)
-Analytics
the combination of skills, technologies, applications and processes used by orgs to gain
insight in to their business based on data and statistics to drive business planning. -
ANSWER-Business Analytics
the design & managment of a supply chain that controls the flows of materials, money,
& info into, through, & out of the firm across national boundaries to achieve its corporate
objectives at a minimum total cost. - ANSWER-Global Supply Chain Managment
How is global SCM different from domestic SCM? - ANSWER--As companies move
from National to Global operations, supply chain size and complexity grow dramatically.
-Global networks are more complicated
-multiple participants
-new types of orgs & role players
-Global logistics operations are more challenging
-greater distance & +3 distinct moves
-extensive product handling
-shipment visibility issues
How does Globalization impact day-to-day operations? - ANSWER--Inventory is Higher
-Facilities Network are More Difficult to Control
, -Transportation is More Difficult & Costly
-Service is Slower & More Costly
What is the purpose of Global Sourcing? - ANSWER--Entails identifying, evaluating,
negotiating and configuring supply across multiple geographies to reduce costs,
maximize performance and mitigate risks.
-Aims to leverage global efficiencies in the creation of a product or service.
-Manufacturing & assembly operations
-Call center operations
-IT programming
What costs must be compared when considering Global Sourcing? - ANSWER--
Material costs
-Transportation costs
-Inventory carrying costs
-Cross-border taxes, tariffs, and duty costs
What is Offshore Manufacturing? - ANSWER--Production of goods by one firm, under
the label or brand of another firm.
What are the advantages of Offshore Manufacturing? - ANSWER--labor costs are
cheaper, quickly rising
-strengthens competitive advantage
-able to leverage the comparative advantage of other nations
-gain market share
-help grow total market by innovation and introducing new products
What are the disadvantages of Offshore Manufacturing? - ANSWER--communication
involves difficult, heavy paperwork
-visibility is more challenging to maintain
-freight is more expensive, more risky
-stockouts have higher risk of shortages
-lead time is uncertain and longer cycle time
Why is the trend of Nearshoring & Onshoring taking place? - ANSWER--With increased
global competition & pressure to reduce costs, became more competitive & innovative,
many companies are turning to these based outsourcing vendors.
What is Nearshoring? - ANSWER--The practice of moving one's employees or business
activities from a distant country back to a country that is nearby.
What are INCOTERMS? - ANSWER--International rules that are accepted by
governments, legal authorities, and practitioners worldwide for the interpretation of the
most commonly used terms in international trade.
-They either reduce or remove altogether uncertainties arising from differing
interpretations of such terms in different countries.
