UARK SCMT 21003: EXAM 1 REVIEW
QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -A network of three or more organizations linked by
upstream and downstream flows of products, services, finances, and information from
suppliers to customers.
Logistics (SCM Professionals Perspective) - Correct Answers -The part of supply chain
management that plans, implements, and controls the efficient movement and storage
of goods, services, and information to meet customer requirements.
Logistics (Customers Perspective) - Correct Answers -Getting the right product to the
right customer in the right quantity, in the the right condition, at the right place, at the
right time, at the right cost. (7 R's)
Difference between Supply Chain & Logistics - Correct Answers -Logistics deals with
the movement, storage, and flow of goods.
Supply Chain involves broader strategic coordination, including supplier relationships,
production, and demand forecasting.
Transportation Mode: Ocean - Correct Answers -Cheapest - Slowest
Transportation Mode: Rail - Correct Answers -Low Cost - Moderate Speed
Transportation Mode: Truck - Correct Answers -Moderate Cost - Fast
Transportation Mode: Air - Correct Answers -Most Expensive - Fastest
Supply Chain focuses on: - Correct Answers -Strategic relationships
Risk management
Demand planning
Logistics focuses on: - Correct Answers -Warehousing
Transportation
Order fulfillment.
Why multiple distribution centers? - Correct Answers -- Shortens delivery times
- Reduces transportation costs
, - Provides inventory redundancy.
Downstream Flows: - Correct Answers -refers to activities post-manufacturing, namely
distributing the product to the final customer
Shipment Consolidation: - Correct Answers -combining multiple smaller shipments into
one larger shipment
SKU (Stock keeping unit): - Correct Answers -unique to each company (Amazon
manages over 600M!)
UPC (Unique product code): - Correct Answers -same across companies, typically
assigned by manufacturer
What Do Leading Supply Chain Companies Have in Common? - Correct Answers -Use
of technology (EDI, API)
Data sharing & automation
Global reach
Efficient transportation management.
Six Major Change Drivers - Correct Answers -- Globalization
- Technology
- Organizational Consolidation
- Empowered Consumers
- Government Deregulation
- Sustainability
Impact of Deregulation - Correct Answers -- More competition in transportation, finance,
and communication industries.
- Lowered shipping costs and improved supply chain efficiency
Comparative Advantage - Correct Answers -- Specializing in what a country does best.
Landed Cost - Correct Answers -- Total cost from production to customer.
Bullwhip Effect - Correct Answers -- Small retail demand changes causing large
fluctuations upstream.
Omnichannel - Correct Answers -- Seamless customer experience across platforms.
Globalization Benefits - Correct Answers -Lower labor costs
Access to new markets
Risk diversification.
QUESTIONS AND ANSWERS
Supply Chain - Correct Answers -A network of three or more organizations linked by
upstream and downstream flows of products, services, finances, and information from
suppliers to customers.
Logistics (SCM Professionals Perspective) - Correct Answers -The part of supply chain
management that plans, implements, and controls the efficient movement and storage
of goods, services, and information to meet customer requirements.
Logistics (Customers Perspective) - Correct Answers -Getting the right product to the
right customer in the right quantity, in the the right condition, at the right place, at the
right time, at the right cost. (7 R's)
Difference between Supply Chain & Logistics - Correct Answers -Logistics deals with
the movement, storage, and flow of goods.
Supply Chain involves broader strategic coordination, including supplier relationships,
production, and demand forecasting.
Transportation Mode: Ocean - Correct Answers -Cheapest - Slowest
Transportation Mode: Rail - Correct Answers -Low Cost - Moderate Speed
Transportation Mode: Truck - Correct Answers -Moderate Cost - Fast
Transportation Mode: Air - Correct Answers -Most Expensive - Fastest
Supply Chain focuses on: - Correct Answers -Strategic relationships
Risk management
Demand planning
Logistics focuses on: - Correct Answers -Warehousing
Transportation
Order fulfillment.
Why multiple distribution centers? - Correct Answers -- Shortens delivery times
- Reduces transportation costs
, - Provides inventory redundancy.
Downstream Flows: - Correct Answers -refers to activities post-manufacturing, namely
distributing the product to the final customer
Shipment Consolidation: - Correct Answers -combining multiple smaller shipments into
one larger shipment
SKU (Stock keeping unit): - Correct Answers -unique to each company (Amazon
manages over 600M!)
UPC (Unique product code): - Correct Answers -same across companies, typically
assigned by manufacturer
What Do Leading Supply Chain Companies Have in Common? - Correct Answers -Use
of technology (EDI, API)
Data sharing & automation
Global reach
Efficient transportation management.
Six Major Change Drivers - Correct Answers -- Globalization
- Technology
- Organizational Consolidation
- Empowered Consumers
- Government Deregulation
- Sustainability
Impact of Deregulation - Correct Answers -- More competition in transportation, finance,
and communication industries.
- Lowered shipping costs and improved supply chain efficiency
Comparative Advantage - Correct Answers -- Specializing in what a country does best.
Landed Cost - Correct Answers -- Total cost from production to customer.
Bullwhip Effect - Correct Answers -- Small retail demand changes causing large
fluctuations upstream.
Omnichannel - Correct Answers -- Seamless customer experience across platforms.
Globalization Benefits - Correct Answers -Lower labor costs
Access to new markets
Risk diversification.
