MGT 8803 WEEK 10 SUPPLY CHAIN - BULLWHIP EFFECT & NEWSVENDOR MODEL TRANSCRIPT
WITH COMPLETE SOLUTIONS 100% CORRECT | NEW UPDATE
Responsive Supply Chain - (ANSWER)focus on flexibility and responsive service and are able to react
quickly to changing market demand and requirements; focus on flexible production
and meeting changing needs of customers
Efficient Supply chain - (ANSWER)utilize strategies aimed at creating the highest cost efficiency; all about
keeping costs as low as possible through high utilization, high repetition, and a high level of
standardization.
Efficient vs. Responsive Supply Chains - (ANSWER)Responsive supply chain is defined by its reaction
speed to react, start new routes, scale up and down quickly. Used for innovative products and getting
new product to new market quickly. High cost and not "efficient".
ex: train is efficient (time table, runs on time, goes from pt A to pt B), car is responsive (fast, more
expensive, available to use when needed)
What are product characteristics that are more conducive to a Responsive Supply chain? - (ANSWER)-
high demand uncertainty
- high profit margins
What are product characteristics that are more conducive to an Efficient Supply chain? - (ANSWER)-
predictable/stable demand
- low demand uncertainty
- low profit margins
How do Efficient and Responsive supply chains relate to Centralized vs Decentralized strategies? (2) -
(ANSWER)- A centralized strategy needs an efficient supply chain
- A decentralized strategy needs a responsive supply chain
A centralized network configuration lends itself to which type of supply chain model? -
(ANSWER)Efficient
, MGT 8803 WEEK 10 SUPPLY CHAIN - BULLWHIP EFFECT & NEWSVENDOR MODEL TRANSCRIPT
WITH COMPLETE SOLUTIONS 100% CORRECT | NEW UPDATE
Functional Products vs Innovative Products - (ANSWER)- Functional are more stable environment
- Innovative is more unpredicable environment
Innovative Products - (ANSWER)Products such as fashionable clothes and high-end personal computers
that typically have a life cycle of just a few months; characterized by short product life cycles, volatile
demand, high profit margins, and relatively less competition
Characteristics:
- high demand uncertainty
- less predictable demand
- short product life
- high inventory cost
- high profit margins
- high product variety and higher volume
- high stockout and obsolencence cost
Functional Products - (ANSWER)staples that people buy in a wide range of retail outlets, such as grocery
stores and gas stations
Characteristics:
- low demand uncertainty
- more predictable demand
- long product life
- low inventory cost
- low profit margins
- low product variety and higher volume
WITH COMPLETE SOLUTIONS 100% CORRECT | NEW UPDATE
Responsive Supply Chain - (ANSWER)focus on flexibility and responsive service and are able to react
quickly to changing market demand and requirements; focus on flexible production
and meeting changing needs of customers
Efficient Supply chain - (ANSWER)utilize strategies aimed at creating the highest cost efficiency; all about
keeping costs as low as possible through high utilization, high repetition, and a high level of
standardization.
Efficient vs. Responsive Supply Chains - (ANSWER)Responsive supply chain is defined by its reaction
speed to react, start new routes, scale up and down quickly. Used for innovative products and getting
new product to new market quickly. High cost and not "efficient".
ex: train is efficient (time table, runs on time, goes from pt A to pt B), car is responsive (fast, more
expensive, available to use when needed)
What are product characteristics that are more conducive to a Responsive Supply chain? - (ANSWER)-
high demand uncertainty
- high profit margins
What are product characteristics that are more conducive to an Efficient Supply chain? - (ANSWER)-
predictable/stable demand
- low demand uncertainty
- low profit margins
How do Efficient and Responsive supply chains relate to Centralized vs Decentralized strategies? (2) -
(ANSWER)- A centralized strategy needs an efficient supply chain
- A decentralized strategy needs a responsive supply chain
A centralized network configuration lends itself to which type of supply chain model? -
(ANSWER)Efficient
, MGT 8803 WEEK 10 SUPPLY CHAIN - BULLWHIP EFFECT & NEWSVENDOR MODEL TRANSCRIPT
WITH COMPLETE SOLUTIONS 100% CORRECT | NEW UPDATE
Functional Products vs Innovative Products - (ANSWER)- Functional are more stable environment
- Innovative is more unpredicable environment
Innovative Products - (ANSWER)Products such as fashionable clothes and high-end personal computers
that typically have a life cycle of just a few months; characterized by short product life cycles, volatile
demand, high profit margins, and relatively less competition
Characteristics:
- high demand uncertainty
- less predictable demand
- short product life
- high inventory cost
- high profit margins
- high product variety and higher volume
- high stockout and obsolencence cost
Functional Products - (ANSWER)staples that people buy in a wide range of retail outlets, such as grocery
stores and gas stations
Characteristics:
- low demand uncertainty
- more predictable demand
- long product life
- low inventory cost
- low profit margins
- low product variety and higher volume
