UARK SCMT 2103 STEPHANIE THOMAS EXAM QUESTIONS AND 100% CORRECT ANSWERS

UARK SCMT 2103 STEPHANIE THOMAS EXAM QUESTIONS AND 100% CORRECT ANSWERS QSupply Chain - ANSWERS-a set of three or more organizations directly linked by one or more of the upstream and downstream flows of products, services, finances, and information from a source to a customer. Q.Supply chain management - ANSWERS-the art and science of integrating the flows of products, information and financials through the entire supply pipeline from the supplier's supplier to the customer's customer. Q.Supply chain management is about managing... - ANSWERS-relationships, risk, and trade-offs Q.Supply chain risk - ANSWERS-the cost of what might not happen Q.Supply chain risk categories - ANSWERS-design, quality, cost, availability, financial, legal, manufacturability, supply, environmental, health, safety Q.Lot Size (Inventory) trade-off - ANSWERS-while larger lot sizes provide production efficiencies, demand rarely comes in large or standard lot sizes. Large lots lead to high inventory in anticipation of demand. Q.Inventory-Transportation Cost trade-off - ANSWERS-Aggregating material movements allows fewer and larger shipments and reduced transportation costs. Less frequent material movement, however, requires holding inventory and possible decreases in customer service. Q.Lead Time-Transportation Cost trade-off - ANSWERS-Transportation costs are lowest when large quantities of items are transported between stages of the supply chain, creating longer lead times. Q.Product-Variety Inventory trade-off - ANSWERS-Increased variety and feature create new part numbers, which affects forecasting complexity, product placement across the supply chain, and inventory levels. Q.Cost-Customer Service trade-off - ANSWERS-Increased customer service levels usually require higher inventory levels and faster delivery, which increase supply chain costs. Q.4 Pillars of Supply Chain Excellence - ANSWERS-Human Resources Organizational Design Information Technology Organizational Measurement Q.Change and Adapt to Survive - ANSWERS-1. Organizational Consolidation 2. Technology 3. Globalization 4. Empowered Consumers 5. Government Policy & Regulation 6. Energy and Sustainability Q.5 Areas of SCM Decision Making - ANSWERS-1. Production 2. Inventory 3. Location 4. Transportation 5. Information Q.Logistics - ANSWERS-comprises the means and arrangements which work out the plans of strategy and tactics. focuses on activities such as procurement, distribution, maintenance, and inventory management. Q.Performance Drivers - ANSWERS-production inventory location transportation information Q.Goal/Mission of Supply Chain - ANSWERS-increase throughput while simultaneously reducing both inventory and operating expense Q.Throughput - ANSWERS-rate at which sales to the end customer occur Q.Production - ANSWERS-the capacity of a supply chain to make and store products Q.Facilities of Production - ANSWERS-factories and warehouses Q.More excess Capacity - ANSWERS-= less efficient the operation becomes Q.Factories can be built to accommodate one of two approaches: - ANSWERS-1) Product Focus - make a given product line from fabrication of different product parts to assembly of these parts.