SCMN 2150 Test 1 Questions With 100% Correct!!

what is scm - Answer-The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? - Answer-suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? - Answer-the consumer What does SCM involve? - Answer-all the activities that take place to get a product in your hands - from the time of raw materials extraction to the minute you pull out your credit card and take the final product home. three companys with good supply chains - Answer-amazon, nike, walmart Supply chain management is important because - Answer-...develop collaborative, trusting relationships ...improve customer satisfaction ...rationalize product touch points ...drive out costs and achieve efficiencies Why is SCM important to customers? - Answer--Product Availability -Fulfillment Accuracy Why is SCM important to companies? - Answer-SCM help companies outpace the competition by managing their materials, product, and information flows What do these CEOs have in common? - Answer-they are former scm execsnode - Answer-A fixed point in a supply chain where valued added processes take place. Goods are processed, transformed, mixed, held, or sold here link - Answer-The transportation method used to connect the nodes (plants, warehouses, stores) in a supply chain. centralized - Answer-National Lower investment Lower level Lower cost Higher cost Effective decentralized - Answer-Regional Greater investment Higher level Higher cost Lower cost Highly effective network fulfillment options - Answer-Direct delivery, cross dock, and distribution center network design characteristics - Answer-centralized or decentralized direct delivery - Answer-supplier to store, - no inventory idled - quicker delivery - lowest handling costs cross dock - Answer-cross docks suppliers to dock, dock to truck. preorganized - moderate inventory held at store - low handling costs - low facility costsdistribution center - Answer-items held in inventory at middle warehouse - high inventory held at warehouse - high handling costs - high facility investment newspaper - Answer-direct delivery dog food or tents - Answer-distribution center chicken - Answer-cross dock What is the network design process? - Answer-to set-up an optimal and easily maintainable supply chain configuration and merchandise flows to enable the supply chain to best support the business objectives. Centralized Distribution has an advantage in - Answer-lower overall inventory handling cost are the highest for the following network fulfillment method - Answer-distribution center auburn has an RFID lab that work on Supply chain solutions like product tracking and visibility - Answertrue Short-range planning - Answer-Job assignments Ordering Job scheduling Dispatching intermediate range plans - Answer-Demand planning & forecasting Sales & operations planning Production planning & budgeting Setting employment, inventory, subcontracting levels Analyzing operating planslong range capacity - Answer-R&D New product plans Capital expenses Facility location, expansion Capacity planning