MGT 8803 - Supply Chain Exam Questions and Answers Already Passed
What are capabilities that drive performance? - Answers · Products & service features
· Costs
· Quality
· Time to market
· Ability to innovate
What is supply chain management? - Answers management of the flow of goods and services and
includes all processes that transform raw materials into final products
Involves active streamlining of business's supply-side activities to max customer value and gain
competitive advantage in marketplace
Operations and supply chain managers focus on... - Answers how to develop capabilities (increase
profitability) to design, produce, and deliver products and services in a competitive market
What are the six primary processes of the OSCM? - Answers · Planning what you want to do
· Sourcing where you will get your inputs
· Making your product or services
· Delivering product and services
· Returns - Mechanisms to making returns
· Engage - looking and finding ways to improve the five above
What are consequences of poor supply chain? - Answers · Loss of Productivity
· Customer Complaints
· Increased Costs (ex: expediting)
· Loss of Revenue
· Damage to Brand
What are the top challenges to supply chain? 2015 - Answers · Flexibility and responsiveness to changes
in demand/product mix
· Supplier performance in terms of risk, reliability, and quality
,· Ensuring sufficient supplier capacity to meet demand
· Effectively supporting new product launches
· Lack of competitive cost of structure - price of the end consumer is the function of the cost of the
supply chain
What are the top challenges to supply chain? 2019 - Answers · Hiring qualified workers
· Customer demands for lower costs/pricing
· Customer demands for faster response times
· Increasing competitive intensity, rising customer expectations
· Forecasting - trying to predict what the demand will be in future
What are the hierarchy of decisions? - Answers · Long term / strategic
· Medium term / operational / optimize
· Short term / execution/ scheduling
Hierarchy of decisions: long-term - Answers · Network configuration
· supply chain model
· outsourcing
· vertical integration
Hierarchy of decisions: medium-term - Answers · lean
· sales and operational planning
· inventory management
Hierarchy of decisions: short-term - Answers · scheduling people, equipment, product
· real-time decisions
What is efficient vs responsive supply chain? - Answers · efficient = focus on cost reduction, asset
utilization, efficiency, productivity, yield capacity utilization, scale
· responsive - focus on responding speedly to change in customer delivery requirements (typically
volume and lead time)
Efficient vs Responsive: SC Operating Model - Answers · E: supply predictable demand efficiently at
lowest possible cost
, · R: respond quickly to unpredictable demand in order to minimize stockouts, lost sales, markdowns &
obsolete inv
Efficient vs Responsive: Capacity Strategy - Answers · E: maintain high average utilization rate
· R: deploy excess buffer capacity/ capacity flexibility
Efficient vs Responsive: Inventory Strategy - Answers · E: generate high turns and minimize inventory
throughout the supply chain
· R: deploy significant buffer/ safety stocks of parts or finished goods
Efficient vs Responsive: Lead Time Strategy - Answers · E: reduce lead time as long as it doesn't increase
cost
· R: Invest aggressively in ways to reduce lead time
Efficient vs Responsive: Supplier Capability - Answers · E: select primarily for cost and quality
· R: select primarily for speed, flexibility, responsive, and quality
Efficient vs Responsive: Logistics Strategy - Answers · E: greater reliance on low cost modes - boats,
trains
· R: greater reliance on fast/ speedy modes - planes
Functional products need... - Answers low cost / efficient supply chain
Innovative products need... - Answers responsive supply chain
Characteristics of functional products - Answers · low demand uncertainty
· more predictable/ stable demand
· long product life
· low inventory cost
What are capabilities that drive performance? - Answers · Products & service features
· Costs
· Quality
· Time to market
· Ability to innovate
What is supply chain management? - Answers management of the flow of goods and services and
includes all processes that transform raw materials into final products
Involves active streamlining of business's supply-side activities to max customer value and gain
competitive advantage in marketplace
Operations and supply chain managers focus on... - Answers how to develop capabilities (increase
profitability) to design, produce, and deliver products and services in a competitive market
What are the six primary processes of the OSCM? - Answers · Planning what you want to do
· Sourcing where you will get your inputs
· Making your product or services
· Delivering product and services
· Returns - Mechanisms to making returns
· Engage - looking and finding ways to improve the five above
What are consequences of poor supply chain? - Answers · Loss of Productivity
· Customer Complaints
· Increased Costs (ex: expediting)
· Loss of Revenue
· Damage to Brand
What are the top challenges to supply chain? 2015 - Answers · Flexibility and responsiveness to changes
in demand/product mix
· Supplier performance in terms of risk, reliability, and quality
,· Ensuring sufficient supplier capacity to meet demand
· Effectively supporting new product launches
· Lack of competitive cost of structure - price of the end consumer is the function of the cost of the
supply chain
What are the top challenges to supply chain? 2019 - Answers · Hiring qualified workers
· Customer demands for lower costs/pricing
· Customer demands for faster response times
· Increasing competitive intensity, rising customer expectations
· Forecasting - trying to predict what the demand will be in future
What are the hierarchy of decisions? - Answers · Long term / strategic
· Medium term / operational / optimize
· Short term / execution/ scheduling
Hierarchy of decisions: long-term - Answers · Network configuration
· supply chain model
· outsourcing
· vertical integration
Hierarchy of decisions: medium-term - Answers · lean
· sales and operational planning
· inventory management
Hierarchy of decisions: short-term - Answers · scheduling people, equipment, product
· real-time decisions
What is efficient vs responsive supply chain? - Answers · efficient = focus on cost reduction, asset
utilization, efficiency, productivity, yield capacity utilization, scale
· responsive - focus on responding speedly to change in customer delivery requirements (typically
volume and lead time)
Efficient vs Responsive: SC Operating Model - Answers · E: supply predictable demand efficiently at
lowest possible cost
, · R: respond quickly to unpredictable demand in order to minimize stockouts, lost sales, markdowns &
obsolete inv
Efficient vs Responsive: Capacity Strategy - Answers · E: maintain high average utilization rate
· R: deploy excess buffer capacity/ capacity flexibility
Efficient vs Responsive: Inventory Strategy - Answers · E: generate high turns and minimize inventory
throughout the supply chain
· R: deploy significant buffer/ safety stocks of parts or finished goods
Efficient vs Responsive: Lead Time Strategy - Answers · E: reduce lead time as long as it doesn't increase
cost
· R: Invest aggressively in ways to reduce lead time
Efficient vs Responsive: Supplier Capability - Answers · E: select primarily for cost and quality
· R: select primarily for speed, flexibility, responsive, and quality
Efficient vs Responsive: Logistics Strategy - Answers · E: greater reliance on low cost modes - boats,
trains
· R: greater reliance on fast/ speedy modes - planes
Functional products need... - Answers low cost / efficient supply chain
Innovative products need... - Answers responsive supply chain
Characteristics of functional products - Answers · low demand uncertainty
· more predictable/ stable demand
· long product life
· low inventory cost
