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 A fixed point in a supply chain where goods are processed, mixed, held, or sold is called a: A. node B. supply chain C. operation D. link - ANSWER -A. node As the number of distribution facilities in your network decreases and becomes highly centralized, what happens to your costs: A. inventory costs go up due to greater safety stock requirements B. overhead costs go up because you have more facilities C. cost of lost sales go down thanks to greater understanding of customer requirements D. outbound delivery costs to customers rise due to greater distance to customers - ANSWER -D. outbound delivery costs to customers rise due to greater distance to customers Logistics Network - ANSWER -design, produce, deliver Nodes - ANSWER -fixed point in the supply chain where goods are processed, mixed, held or sold Links - ANSWER -the transportation method used to connect the nodes in a supply chain Centralized Supply Chain - ANSWER --NATIONAL FOCUS Single node (facility) -BENEFITS: Lower inventory and safety stock levels Single location creates better visibility Lower overhead stock Less labor Smaller management team Economies of scale (a proportionate saving in costs gained by an increased level of production.) -CHALLENGES: Longer lead times Higher delivery costs Potential inefficiencies as single facility grows Potential issues with regional customers 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...