SCM 300 Module 1,2,3,4 Exam
Questions and Answers
Supply Chain Management - correct Answer-The effective & efficient integration of the
suppliers, manufacturers, transportation organizations, as well as the other parties
responsible for collectively bringing products & services to market.
Procurement - correct Answer-Branch of supply chain responsible for acquiring
materials, equipment, products, & services.
Operations - correct Answer-Responsible for making business processes effective &
efficient. Highest quality with fewest resources.
Logistics - correct Answer-Responsible for developing transport itinerary & finding
appropriate transport/storage partners to successfully navigate the flow of materials
from point of origin to final destination.
Reverse Logistics - correct Answer-When movement flows backwards in supply chain,
towards manufacturers (example: returns)
Global SCM - correct Answer-When supply chain partners span across multiple
countries/continents. Can create both competitive advantage & complication.
1st-Tier Suppliers - correct Answer-Direct suppliers, provide direct goods or services to
company.
2nd-tier Suppliers - correct Answer-Provides goods/services to 1st-Tier Suppliers
Upstream Supply Chain - correct Answer-Goes toward supplier
Downstream Supply Chain - correct Answer-Goes toward consumer
Three SCM Flows - correct Answer-Materials, Money, & Info
Business Models - correct Answer-A company's plan for how it will purchase items,
transform them, deliver them, & sell them in an effort to produce a profit.
Supply Chain Visibility - correct Answer-Ability to see what is happening with inventory
upstream and downstream in the supply chain.
Profit - correct Answer-Revenue - Cost
, ROI - correct Answer-Total Profit/Total Investment
Cost Priorities - correct Answer-Cost, Quality, Speed, Flexibility
Core Competencies - correct Answer-Primary Advantage of a company. Difficult or
impossible to replicate. Necessary for long term success. Be different & be better!
Productivity - correct Answer-Ratio of outputs & inputs. Maximize out, minimize in. Very
relative, usually compared to earlier times.
Value - correct Answer-Sought by customer. What did I buy/What did it Cost
Primary Supply Chain Goals - correct Answer-Effectiveness (are we getting the job
done?), Efficiency (are we working too hard or spending too much?), Adaptability (can
we deal with change, are we flexible?)
7 Types of Waste - correct Answer-Defects, Overproduction, Transportation, Motion,
Waiting, Inventory, Over-Processing
Keys to Being a Successful Supply Chain Manager - correct Answer-Satisfy the needs
of the customer, satisfy the needs of the company, be prepared for the future.
SC Strategy List of 3 - correct Answer-a.) Understanding the product/service and the
market's desires.
b.) Develop a business model
c.) Organizing the right group of supply chain partners
SC Tools List of 5 - correct Answer-a.) Supply Chain Metrics
b.) Information Technology Tools
c.) Relationship Management Skills
d.) Financial Resources
e.) Organization Integration
Managing with Stakeholders in Mind - correct Answer-Supply Chain Managers need to
make the best possible decisions for all possible stakeholders and people involved.
Inventory - correct Answer-The items that are owned by a company for the purpose of
present or future sales or for use in day-to-day operations.
Lead Time - correct Answer-the period of time between when an order is placed and
when the order is received by the customer
Lot Size - correct Answer-an accepted order size. This sometimes also refers to a
possible order size increment.
Questions and Answers
Supply Chain Management - correct Answer-The effective & efficient integration of the
suppliers, manufacturers, transportation organizations, as well as the other parties
responsible for collectively bringing products & services to market.
Procurement - correct Answer-Branch of supply chain responsible for acquiring
materials, equipment, products, & services.
Operations - correct Answer-Responsible for making business processes effective &
efficient. Highest quality with fewest resources.
Logistics - correct Answer-Responsible for developing transport itinerary & finding
appropriate transport/storage partners to successfully navigate the flow of materials
from point of origin to final destination.
Reverse Logistics - correct Answer-When movement flows backwards in supply chain,
towards manufacturers (example: returns)
Global SCM - correct Answer-When supply chain partners span across multiple
countries/continents. Can create both competitive advantage & complication.
1st-Tier Suppliers - correct Answer-Direct suppliers, provide direct goods or services to
company.
2nd-tier Suppliers - correct Answer-Provides goods/services to 1st-Tier Suppliers
Upstream Supply Chain - correct Answer-Goes toward supplier
Downstream Supply Chain - correct Answer-Goes toward consumer
Three SCM Flows - correct Answer-Materials, Money, & Info
Business Models - correct Answer-A company's plan for how it will purchase items,
transform them, deliver them, & sell them in an effort to produce a profit.
Supply Chain Visibility - correct Answer-Ability to see what is happening with inventory
upstream and downstream in the supply chain.
Profit - correct Answer-Revenue - Cost
, ROI - correct Answer-Total Profit/Total Investment
Cost Priorities - correct Answer-Cost, Quality, Speed, Flexibility
Core Competencies - correct Answer-Primary Advantage of a company. Difficult or
impossible to replicate. Necessary for long term success. Be different & be better!
Productivity - correct Answer-Ratio of outputs & inputs. Maximize out, minimize in. Very
relative, usually compared to earlier times.
Value - correct Answer-Sought by customer. What did I buy/What did it Cost
Primary Supply Chain Goals - correct Answer-Effectiveness (are we getting the job
done?), Efficiency (are we working too hard or spending too much?), Adaptability (can
we deal with change, are we flexible?)
7 Types of Waste - correct Answer-Defects, Overproduction, Transportation, Motion,
Waiting, Inventory, Over-Processing
Keys to Being a Successful Supply Chain Manager - correct Answer-Satisfy the needs
of the customer, satisfy the needs of the company, be prepared for the future.
SC Strategy List of 3 - correct Answer-a.) Understanding the product/service and the
market's desires.
b.) Develop a business model
c.) Organizing the right group of supply chain partners
SC Tools List of 5 - correct Answer-a.) Supply Chain Metrics
b.) Information Technology Tools
c.) Relationship Management Skills
d.) Financial Resources
e.) Organization Integration
Managing with Stakeholders in Mind - correct Answer-Supply Chain Managers need to
make the best possible decisions for all possible stakeholders and people involved.
Inventory - correct Answer-The items that are owned by a company for the purpose of
present or future sales or for use in day-to-day operations.
Lead Time - correct Answer-the period of time between when an order is placed and
when the order is received by the customer
Lot Size - correct Answer-an accepted order size. This sometimes also refers to a
possible order size increment.
