SCMN 2150: Exam 1 Modules 1-4 Robert Straw Questions and Answers Verified 100% Correct

SCMN 2150: Exam 1 Modules 1-4 Robert Straw Questions and Answers Verified 100% Correct Decentralized Supply Chain - ANSWER --LOCAL FOCUS -Multiple factories, distribution centers, and stores -BENEFITS: Customer proximity ** Shorter lead times Lower delivery costs Responsive to demand -CHALLENGES: More safety stock in system (extra inventory at every location) Higher overhead costs (more facilities that have to be managed) More managers No economies of scale -RISK: Lack of control and coordination Network Fulfillment Options - ANSWER -Direct delivery, cross dock, and distribution center Direct Delivery - ANSWER --point to point service -factory to store -time sensitive product or perishable Cross Docking - ANSWER --receive, sort, load and ship -quick sorting and mixing -supplier to factory -promo items, seasonal -ex: airport Distribution Center - ANSWER --inventory availability -product variety -efficient sourcing -stable demand products, seasonal goods Network Design Process - ANSWER -1. Define Problem 2. Collect Data 3. Run Scenarios 4. Evaluate Results 5. Take action 7 Economic Factors of Business Logic - ANSWER -land, labor, capital, sources, production, markets, and logistics Network Design Issues - ANSWER --strategic in nature -time consuming -multi-dimensional Supply Chain Network Design Challenges - ANSWER -cross chain visibility, product traceability, collaboration, service quality According to the Demand Forecasting article in module 3, which of the following is the demand forecasting method for consumer goods that leverages the knowledge and experience of a company's sales team to aggregate data on customer demand? A. collective opinion B. expert opinion method C. customer surveys D. barometric method - ANSWER -A. collective opinion According to the module 3 readings, by improving demand forecasting and optimizing your supply chain, you can effectively _________ and _________? (select two) A. decrease turnover of personnel B. increase profits C. eliminate all inventory D. better understand the customer trends E. mitigate unnecessary costs - ANSWER -B. increase profits E. mitigate unnecessary costs According to the readings from module 3, as managers prepare for demand planning in the "new normal", they need to... A. all of these B. review the capabilities and skills they need for the future C. think about the organizational structure of planning D. carefully consider and embrace agility - ANSWER -A. all of these According to the module 3 readings, "___________ is the process of using sales data to make assumptions on supply chain and inventory activity, allowing a business to define service levels for the future accurately." A. inventory management B. short term planning C. demand forecasting D. supply chain planning - ANSWER -C. demand forecasting T/F: Capacity planning determines the output that can be achieved to meet demand? - ANSWER -True Supply Chain Planning - ANSWER -being proactive builds capabilities, capacity, control Time Horizons of Supply Chain Planning - ANSWER -Short range- hourly, daily, weekly Mid range- monthly Long range- yearly (2+) Types of Supply Chain Planning - ANSWER --Capacity planning -Demand planning and forecasting -Sales and operations planning -Production planning -Scheduling and sequencing Capacity Planning - ANSWER -the rate that output can be produced or held, ability to deliver in a defined time, amount of something that can fit in a container FOUNDATION OF SUCCESSFUL SUPPLY CHAIN Demand Planning and Forecasting - ANSWER -sales predictions and inventory requirements Sales and Operations Planning - ANSWER -match operating capabilities with sales plan