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SCM part 1 & 2 > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

The basic principle of scm began to shape in what year?

A

1980

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2
Q

Planning and coordination of people, processes, and technology involved in creating value for the company.

A

SCM

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3
Q

Involves with coordinating all the work inside the company with the happenings outside.

A

Managing a Supply chain

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4
Q

Means “money”

A

Value

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5
Q

If the customer is willing to pay

A

Value

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6
Q

Interdependent and crucial to the supply chain.

A

Negotiating prices, scheduling manufacturing & managing logistics

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7
Q

Difference between revenue and cost

A

Profit

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8
Q

Amount of value that you captured in supply chain

A

Profit

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9
Q

A legal concept that is used in contracts to justify why someone is unable to meet their obligations.

A

Force Majeure

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10
Q

Generalists who look at the big picture

A

Supply Chain expert

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11
Q

Focus on a particular step in the supply chain

A

Specialist

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12
Q

Way of describing the essence of SCM

A

Supply chain managment principle

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13
Q

Job description for a supply chain manager

A

Five supply chain tasks

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14
Q

Strategy for helping a company to plan and implement effective SCMP

A

New supply chain agenda

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15
Q

10 SCMPs (CF,ST,BI,C,F,T,GP, RM,V,VC)

A
  1. Customer focus
  2. System thinking
  3. Bimodal innovation
  4. Collaboration
  5. Flexibility
  6. Technology
  7. Global perspective
  8. Risk management
  9. Visibility
  10. Value creation
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16
Q

Understanding who your customers are and what they need or the problems that can be solved by the company.

A

Customer focus

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17
Q

An SCMP which means The combination of people, processes, and technologies

A

System Thinking

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18
Q

Involves an appreciation for the series of cause and effect relationships that occur within the supply chain

A

System thinking

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19
Q

The supply chain needs to keep up by innovating

A

Bimodal Innovation

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20
Q

Are process improvement methods.

A

LSS & Theory constraints

21
Q

Continuous improvement is not efficient cause of new tech disrupting industries

A

Disruptive innovation

22
Q

SCM needs to work with suppliers and outside orgs

A

Collaboration

23
Q

Measurement on how quickly your supply chain can respond to changes

A

Flexibility

24
Q

Ordering things from catalogs mailed in checks to ordering products on our phones and paying for them with credit cards and expect real time updates until those packages are delivered to our footsteps.

A

Technology

25
Q

SCM must recognize how business depends on global factors to supply inputs and drive demand for outputs. Think about global competition.

A

Global perspective

26
Q

Being aware of risk and implementing processes to mitigate it

A

Risk Management

27
Q

Key to making SC work smoothly

A

Stability

28
Q

Key in avoiding or minimizing the cost of dealing with surprises

A

Risk management

29
Q

Knowing what’s happening real time

A

Visibility

30
Q

Makes decisions based on facts rather than intuition or uncertainty

A

Value of visibility

31
Q

Heart of SCM and the principle that describes the whole process of SCM

A

Value Creation

32
Q

” SCM should concentrate on five tasks”

A

James B. Ayers

33
Q

5 SC Tasks (Designing, implementing, Forging, Managing, Making money)

A
  1. Designing supply chain for strategic advantage
  2. Implementing collaborative relationships
  3. Forging supply chain partnership
  4. Managing supply chain information
  5. Making money from the supply chain.
34
Q

A SCM task that can help you create value, grow revenue, innovate products, and create new markets.

A

Designing SC for strategic advantages

35
Q

A SC task that can get your teams to work towards a common goal rather than competing for conflicting goals.

A

Implementing collaborative relationships

36
Q

A SC task that can build strong relationships with customers and suppliers

A

Forging SC partnership

37
Q

A SC task that can assure the information is shared with others in the SC.

A

Managing SC information

38
Q

A SC task that leveraged your SC design, relationships, partnerships, and information to capture value for your company.

A

Making money from SC

39
Q

Focuses on senior executives

A

Implementing the new supply chain agenda

40
Q

5 steps of the new supply chain agenda

A
  1. Placing the right people in right jobs
  2. Putting the right technology in place
  3. Focusing on internal collaboration
  4. Directing external collaboration
  5. Applying project management
41
Q

First step in implementing SCA. Understanding how a job affects others inside your company, and people up and down the chain

A

Placing the right people in the right jobs.

42
Q

2nd step in SCA that enables your SC to create and capture value.

A

Putting the right technology in place.

43
Q

Maybe as simple as a whiteboard sticky with notes.

A

Technology

44
Q

3rd SCA. By changing the focus from the performance of the separate divisions to looking instead at the performance of the company’s supply chain, each division becomes more dependent on the others for its own success.

A

Focusing on internal collaboration

45
Q

4th SCA To build sustainable supply chain relationships, each partner needs to look for opportunities to contribute value to the relationship.

A

Directing external Collaboration

46
Q

Relationships are transactional and often self centered

A

Traditional business

47
Q

Last SCA step. That implements strong project management capabilities

A

Applying project management

48
Q

are keys to ensuring that the supply chain evolves as the customer, suppliers, and company change

A
  1. Teaching people how to manage projects
  2. Having professional project managers involved

SCM part 1 & 2 (8 decks)

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