SCM - FINAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Logistics Components
(CH 1 has 7 question on test) - A. Logistics: In its simplest form, includes
inbound logistics of materials management as well as the outbound logistics of
physical distribution
B. Materials Management (inbound): The movement and management of
materials and products from procurement (suppliers) through the production
process
-Materials (raw parts) that come inbound into a supplier.
-Suppliers, distributors, and manufacturing are inbound, anything after that
becomes outbound
C. Physical distribution ( outbound): The movement and storage functions
associated with finished goods from manufacturing plants to warehouses and to
customers
-Once the product is in its final state and we are going to sell it then it becomes
physical distribution.
-Inbound into the wholesaler (is a finished product) is still physical distribution
Logistics Management (CH 1) - Logistics management is that part of supply
chain management that plans, implements, and controls the efficient, effective
forward and reverse flow and storage of goods, services, and related information
between the point of origin and the point of consumption in order to meet
customers' requirements...
,Supply Chain (CH 1) - A set of three or more entities (organizations or
individuals) directly involved in the upstream and downstream flows of products,
services, finance, and or information from a source to a customer
PRODUCT FLOW•(CH 1) - The physical movement of goods and materials
is a two-way flow in today's environment because of the growing importance of
reverse logistics systems for returning products that are unacceptable to the
buyer because they are damaged, obsolete, or worn out
INFORMATION FLOW•(CH 1) - Enabling physical flow of products• Decision
making• Supply chain collaborations
- has become an extremely important factor for success in supply chain
management. Traditionally, we have viewed information as flowing in the
opposite direction of products, that is, from the market or customer back to the
wholesalers, manufacturers, and vendors.
CASH FLOW• (CH 1) - Management of working capital
-Traditionally, financial flow has been viewed as one-directional—backward—in
the supply chain or, in other words,as payment for goods, services, and orders
received. A major impact of supply chain compression and faster order cycle
times has been faster cash flow. Customers receive orders faster, they are billed
sooner, and companies can collect sooner
DEMAND FLOW• (CH 1) - Detect and understand demand signals•
Synchronize demand vs. supply
, Complexity (CH 1) - Supply chains are more and more complex. As
consumers we are adding to the complexity. We are very demanding and want
things now, we want all the options. We want so many options
Supply chain have become increasingly complex for firms in terms of number of
SKUs, customers/ supplier locations, transporting, trade regulations, and taxes
Steps need to be taken to simplify various aspects of SCs (e.g., number of SKUs
have caused problem for inventory management and order fulfillment)
Postponement: (CH 1) - A strategy that minimizes risk by delaying further
investment into a product until the last possible moment (time, place and or
form). As you get closer to selling what you will sell then you are better equipped
and better at forecasting the demand and trends. The longer you wait the more
you will know of characteristics that customers want.
Inventory carrying costs (CH 1) - are any costs associated with inventory
(inventory could be at rest, transported) As long as a company has inventory it
will incur costs. If I have all the component parts but not put together then my
inventory carrying cost will be lower.
Supply chain orientation:(CH 1) - the recognition by an organization of the
systematic, strategic implications of the tactical activities involved in managing
the various flows in a supply chain
If everyone has SCO then that become supply chain management
Recognize that there is something bigger than themselves
Through demand the customer (retailer) contributes to the supply chain.
General motors is one of the most complex supply chain
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW!!
Logistics Components
(CH 1 has 7 question on test) - A. Logistics: In its simplest form, includes
inbound logistics of materials management as well as the outbound logistics of
physical distribution
B. Materials Management (inbound): The movement and management of
materials and products from procurement (suppliers) through the production
process
-Materials (raw parts) that come inbound into a supplier.
-Suppliers, distributors, and manufacturing are inbound, anything after that
becomes outbound
C. Physical distribution ( outbound): The movement and storage functions
associated with finished goods from manufacturing plants to warehouses and to
customers
-Once the product is in its final state and we are going to sell it then it becomes
physical distribution.
-Inbound into the wholesaler (is a finished product) is still physical distribution
Logistics Management (CH 1) - Logistics management is that part of supply
chain management that plans, implements, and controls the efficient, effective
forward and reverse flow and storage of goods, services, and related information
between the point of origin and the point of consumption in order to meet
customers' requirements...
,Supply Chain (CH 1) - A set of three or more entities (organizations or
individuals) directly involved in the upstream and downstream flows of products,
services, finance, and or information from a source to a customer
PRODUCT FLOW•(CH 1) - The physical movement of goods and materials
is a two-way flow in today's environment because of the growing importance of
reverse logistics systems for returning products that are unacceptable to the
buyer because they are damaged, obsolete, or worn out
INFORMATION FLOW•(CH 1) - Enabling physical flow of products• Decision
making• Supply chain collaborations
- has become an extremely important factor for success in supply chain
management. Traditionally, we have viewed information as flowing in the
opposite direction of products, that is, from the market or customer back to the
wholesalers, manufacturers, and vendors.
CASH FLOW• (CH 1) - Management of working capital
-Traditionally, financial flow has been viewed as one-directional—backward—in
the supply chain or, in other words,as payment for goods, services, and orders
received. A major impact of supply chain compression and faster order cycle
times has been faster cash flow. Customers receive orders faster, they are billed
sooner, and companies can collect sooner
DEMAND FLOW• (CH 1) - Detect and understand demand signals•
Synchronize demand vs. supply
, Complexity (CH 1) - Supply chains are more and more complex. As
consumers we are adding to the complexity. We are very demanding and want
things now, we want all the options. We want so many options
Supply chain have become increasingly complex for firms in terms of number of
SKUs, customers/ supplier locations, transporting, trade regulations, and taxes
Steps need to be taken to simplify various aspects of SCs (e.g., number of SKUs
have caused problem for inventory management and order fulfillment)
Postponement: (CH 1) - A strategy that minimizes risk by delaying further
investment into a product until the last possible moment (time, place and or
form). As you get closer to selling what you will sell then you are better equipped
and better at forecasting the demand and trends. The longer you wait the more
you will know of characteristics that customers want.
Inventory carrying costs (CH 1) - are any costs associated with inventory
(inventory could be at rest, transported) As long as a company has inventory it
will incur costs. If I have all the component parts but not put together then my
inventory carrying cost will be lower.
Supply chain orientation:(CH 1) - the recognition by an organization of the
systematic, strategic implications of the tactical activities involved in managing
the various flows in a supply chain
If everyone has SCO then that become supply chain management
Recognize that there is something bigger than themselves
Through demand the customer (retailer) contributes to the supply chain.
General motors is one of the most complex supply chain
