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Global SCM- CHAPTER 2 > CHAP 1 > Flashcards

CHAP 1 Flashcards

1
Q

What consists of all parties involved, directly or indirectly, in fulfilling a customer request?

A

supply chain

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2
Q

What is a supply network or supply web?

A

Its where most supply chains are actually networks where each stage receives product from several suppliers and sends output to several customers

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3
Q

What does a supply chain include?

A

Manufacturer, suppliers, transporters, distributors, warehouses, retailers and even customers themselves

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4
Q

What functions does the supply chain include?

A

All functions involved in receiving and fulfilling a customer request. Also can include Product development, marketing, operations, distribution, finance and customer service.

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5
Q

What is the integral part of any supply chain?

A

It’s the customers

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6
Q

What is the purpose of any supply chain?

A

Its to satisfy customer needs and in the process generate profit for itself

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7
Q

What are the three key flows of a supply chain?

A

Its information, product and funds

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8
Q

What is the purpose of the three key flows?

A

Its to structure it in a way that it meets customer needs in a cost effective manner

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9
Q

What is the objective/goal of every supply chain?

A

Its to maximize the net value generated or grow overall supply chain surplus

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10
Q

What is the supply chain surplus (aka net value of a sc)?

A

Difference between what the value of the final product is to the customer and the costs the entire supply chain incurs in filling the customer’s request.
Supply chain surplus= Customer value - Supply chain cost
Customer value or value of final product to its customer may vary so the way to calculator this is by the maximum amount the customer is willing to pay for it
The higher the supply chain profitability the more successful the supply chain
For most profit making supply chains, Supply chain surplus will be strongly correlated with profits

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11
Q

What is the focus on the supply chain surplus?

A

Its to increase the size of the overall pie for all members of the supply chain

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12
Q

How should the success of the supply chain be measured?

A

It should be measured in terms of supply chain surplus and not in terms of the profits at an individual stage.

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13
Q

What is the source of revenue in a supply chain?

A

The customer

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14
Q

What does an effective supply chain management include?

A

It involves the management of supply chain assets and product, information, and fund flows to grow the total supply chain surplus

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15
Q

What does supply chain decisions affect?

A

significantly influence both the revenue generated and the cost incurred

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16
Q

What are the three key supply chain decision phases?

A

Supply chain strategy or design
Supply Chain planning
Supply Chain Operation

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17
Q

What is supply chain strategy or design?

A

Its when a company decides on the structure of the supply chain for the next several years
Decisions about the structure of the supply chain and what processes each stage wil perform
Design decisions are long-term and expensive to reverse
Typically made for long term decisions and are expensive to alter on short notice

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18
Q

Supply chain strategy/design must what?

A

It must support strategic objectives

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19
Q

What does a company decide under the supply chain strategy or design phase?

A

It decides what the chain’s configuration will be, how resources will be allocated, and what processes each stage will perform

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20
Q

whether to outsource or perform a supply chain function in-house, the location and capacities of production and warehousing facilities, the products to be manufactured or stored at various locations, the modes of transportation to be made available along different shipping legs, and the type of information system to be used.this is an example of what? “

A

This is an example of a strategic decision under the supply chain strategy or design

21
Q

Time frame for supply chain planning?

A

It’s a quarter to a year
Basically a few months to a year

22
Q

What is the planning phase?

A

Set of policies that govern short-term operations

23
Q

What is the goal for supply chain planning?

A

maximize the supply chain surplus that can be generated over the planning horizon given the constraints established during the strategic or design phase
Goal is to maximize supply chain surplus given established constraints fixed by the supply configuration from strategy/design phase

24
Q

What does supply chain planning take into account at the start of its phase?

A

It considers forecast for the coming year (or a comparable time frame) of demand and other factors, such as costs and prices in different markets

25
Q

What does supply chain planning phase include?

A

making decisions regarding which markets will be supplied from which locations, the subcontracting of manufacturing, the inventory policies to be followed, and the timing and size of marketing and price promotions.
companies must include uncertainty in demand, exchange rates, and competition over this time horizon in their decisions.

26
Q

Is the supply chain planning phase a short-term operation?

A

yes

27
Q

What is the time horizon for supply chain operation?

A

Weekly or daily

28
Q

What is the supply chain configuration for operations?

A

Supply chain configuration is fixed

29
Q

What decisions does a company make under the supply chain operation?

A

companies make decisions regarding individual customer orders

30
Q

What is the goal of a supply chain operation?

A

is to handle incoming customer orders in the best possible manner.
its to exploit the reduction of uncertainty and optimize performance.

31
Q

What decisions does the planning phase include?

A

decisions regarding production plans, subcontracting, and promotions over that period.

32
Q

What are the activities under the supply chain operation?

A

firms allocate inventory or production to individual orders, set a date by which an order is to be filled, generate pick lists at a warehouse, allocate an order to a particular shipping mode and shipment, set delivery schedules of trucks, and place replenishment orders.

33
Q

What do strategic decisions relate to?

A

It relate to the supply chain configuration

34
Q

Strategic decisions define the constraints for?

A

Planning decisions

35
Q

Planning decisions define the constraints for?

A

Operational decisions

36
Q

What does supply chain operation decisions include?

A

sequencing production and filling specific orders.

37
Q

What are the two ways to view processes performed in a supply chain?

A

here is the cycle view and the push/pull view

38
Q

What is a cycle view?

A

the processes in a supply chain are divided into a series of cycles, each performed at the interface between two successive stages of the supply chain.

39
Q

What is a pull process?

A

Its initiated by a customer order
Can be referred to as reactive processes
Its a predictable environment because demand is known.
May cause long delivery lead times
Work release is based upon actual demand or the actual status of downstream customers
Typically happens under the customer order cycle

40
Q

What is a push process?

A

Initiated and performed in anticipation of customer orders
Can be referred as speculative processes
It acts proactively
So customer demand is not yet known
Based on downstream demand forecasts
Keeps inventory to meet actual demand
Typically in procurement, manufacturing and replenishment cycles

41
Q

What are the four process cycles (cycle view)?

A

Customer order cycle
Replenishment cycle
Manufacturing cycle
Procurement cycle

42
Q

Example of a customer order cycle?

A

When customers shop online at Amazon, they are part of the customer order cycle—with the customer as the buyer and Amazon as the supplier.

43
Q

What is the demand under the customer order cycle?

A

demand is external to the supply chain and thus is uncertain.

44
Q

What is the SCOR Model?

A

model provides a description of supply chain processes, a framework for relationships between these processes, and a set of metrics to measure process performance

45
Q

What are the three macro processes?

A

Its customer relationship management (CRM), internal supply chain management (ISCM) and supplier relationship management (SRM)

46
Q

What is customer relationship management (CRM)?

A

all processes at the interface between the firm and its customers
aims to generate customer demand and facilitate the placement and tracking of orders.
It includes processes such as marketing, pricing, sales, order management, and call center management

47
Q

What is internal supply chain management (ISCM) ?

A

all processes that are internal to the firm
aims to fulfill demand generated by the CRM process in a timely manner and at the lowest possible cost.
ISCM processes include the planning of internal production and storage capacity, preparation of demand and supply plans, and fulfillment of actual orders.

48
Q

What is supplier relationship management (SRM)?

A

all processes at the interface between the firm and its suppliers
aims to arrange for and manage supply sources for various goods and services.
SRM processes include the evaluation and selection of suppliers, negotiation of supply terms, and communication regarding new products and orders with suppliers

Global SCM- CHAPTER 2 (3 decks)

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