SCMT TEST 1- MARC SCOTT
QUESTIONS AND ANSWERS
What is Supply Chain Management? - Correct Answers -- encompasses the planning
and management of all activities of all activities involved in sourcing and procurement ,
conversion, and all logistics management activities
- includes coordination and collaboration with channel partners (suppliers,
intermediaries, etc.)
- integrates supply chain management
supply chains - Correct Answers -- the integrated process of plan, source, make,
deliver, return and enable spanning from the supplier's supplier to the customer's
customer
supply chain management - Correct Answers -- supply chain management the
coordination of production, inventory, location, and transportation among the
participants in a supply chain to achieve the best mix of responsiveness and efficiency
for the market being served
what are supply chains? - Correct Answers -- design
- make
- deliver
- use
a product or service
supply chain goal - Correct Answers -achieve both efficiency and effectiveness
supply chain objective - Correct Answers -supply chain strategy and design must focus
on reducing costs while improving customer service
supply chain outcome - Correct Answers -good supply chain management can lead to
firm competitive advantage
conflicting needs / high service levels (effective) - Correct Answers -+ more product
+ more warehouses
+ more stores
- higher carrying costs
- higher carrying and operating costs
, conflicting needs/ improved operations (efficiency) - Correct Answers -+ less product
+ less warehouses
+ less stores
- lower carrying costs (customers)
- lower carrying and operating costs
supply chain drivers - Correct Answers -1. production
2. inventory
3. location
4. transportation
5. information
production - Correct Answers -what, how, and when to produce
inventory - Correct Answers -how much to make and how much to store
location - Correct Answers -where best to do what activity
transportation - Correct Answers -how and when to move product
information - Correct Answers -the basis for making these decisions
responsiveness v.s efficiency - Correct Answers -the right combination of
responsiveness and efficiency in each of these drivers allows a supply chain to increase
throughout while simultaneously reducing inventory and operating expense
logistics management - Correct Answers -- flow and storage of inventory
- not solely transportation
supply principle 2 - Correct Answers -supply chain forecasts must cover a time period
that encompasses the combined lead times of all components that go into the creation
of a final product
forecast cover period - Correct Answers --order processing time
- production lead time
- delivery lead time
demand principle - Correct Answers -products and markets for which there is little
historical data and lots of variability are the most difficult to forecast for
product characteristics principle - Correct Answers -forecasts for mature products can
cover longer timeframes than forecasts for products that are developing quickly
logistics management focus - Correct Answers -- minimize costs and maximize service
- allocation of scarce resources
QUESTIONS AND ANSWERS
What is Supply Chain Management? - Correct Answers -- encompasses the planning
and management of all activities of all activities involved in sourcing and procurement ,
conversion, and all logistics management activities
- includes coordination and collaboration with channel partners (suppliers,
intermediaries, etc.)
- integrates supply chain management
supply chains - Correct Answers -- the integrated process of plan, source, make,
deliver, return and enable spanning from the supplier's supplier to the customer's
customer
supply chain management - Correct Answers -- supply chain management the
coordination of production, inventory, location, and transportation among the
participants in a supply chain to achieve the best mix of responsiveness and efficiency
for the market being served
what are supply chains? - Correct Answers -- design
- make
- deliver
- use
a product or service
supply chain goal - Correct Answers -achieve both efficiency and effectiveness
supply chain objective - Correct Answers -supply chain strategy and design must focus
on reducing costs while improving customer service
supply chain outcome - Correct Answers -good supply chain management can lead to
firm competitive advantage
conflicting needs / high service levels (effective) - Correct Answers -+ more product
+ more warehouses
+ more stores
- higher carrying costs
- higher carrying and operating costs
, conflicting needs/ improved operations (efficiency) - Correct Answers -+ less product
+ less warehouses
+ less stores
- lower carrying costs (customers)
- lower carrying and operating costs
supply chain drivers - Correct Answers -1. production
2. inventory
3. location
4. transportation
5. information
production - Correct Answers -what, how, and when to produce
inventory - Correct Answers -how much to make and how much to store
location - Correct Answers -where best to do what activity
transportation - Correct Answers -how and when to move product
information - Correct Answers -the basis for making these decisions
responsiveness v.s efficiency - Correct Answers -the right combination of
responsiveness and efficiency in each of these drivers allows a supply chain to increase
throughout while simultaneously reducing inventory and operating expense
logistics management - Correct Answers -- flow and storage of inventory
- not solely transportation
supply principle 2 - Correct Answers -supply chain forecasts must cover a time period
that encompasses the combined lead times of all components that go into the creation
of a final product
forecast cover period - Correct Answers --order processing time
- production lead time
- delivery lead time
demand principle - Correct Answers -products and markets for which there is little
historical data and lots of variability are the most difficult to forecast for
product characteristics principle - Correct Answers -forecasts for mature products can
cover longer timeframes than forecasts for products that are developing quickly
logistics management focus - Correct Answers -- minimize costs and maximize service
- allocation of scarce resources
