Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Supply Chain > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Products and services are created from what?

A

Materials, equipment, labor, time, money, and other resources

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Producing and delivering products and services requires what ?

A

Suppliers, Manufacturers, and Customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Supply chains exist in organizations that are:

A

Large or Small
Public or Private
For-Profit or Not-For-Profit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

A supply chain consists of the flow of materials and products….

A

From suppliers, to manufacturers, to customers
Each of these are “LINKS”

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Suppliers consists of:

A

Raw materials suppliers
Intermediate suppliers
Finished material or service suppliers
Also external sources of supply and inbound transportation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Manufacturer consists of:

A

Finished product manufacturer
Insourced and/ or outsourced

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Customers consists of:

A

Wholesaler and distributor customers
Retail customers
Consumers
Also distribution channels
Outbound transportation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

The first step in understanding the supply chain is to visualize the ___________________________ from beginning to end

A

Flow of materials

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is supply chain?
It is the _______________ of the ________________ of otherwise _______________________________ who are creating a desired ___________ or ____________, and then moving it through the supply chain out to customers, when and where the customers wants it.

A

Coordination
Network
Independent trading partners
Product or service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is supply chain management?
Supply chain management is the way business gets done. It is the ________________ _____________ of any business.

A

Execution process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Supply chain management is based on 2 ideas:
1. Every product reaches an ______ ________ the cumulative effort of multiple organizations

A

End user

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Supply chain management is based on 2 ideas:
2. Most organizations have only _______ ___________ to what was happing within their own “________ __________”.

A

Paid attention
Four walls

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

The value of supply chain management
SCM creates __________ by managing the processes of all of those independent trading partners….. so that they can ____________ with one another in an ___________, _________, and _______ __________ way.

A

Value
Collaborate
efficient
effective
and cost conscious

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The goals of supply chain management
1. _______________________ : getting the products and services that customers want them, when and where they want them, at the lowest possible cost

A

Increase customer service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The Goals of Supply Chain Management:
2. _____________________ and _________________: achieving #1 above while keeping your inventory as low as possible and also keeping your costs as low as possible

A

Reducing inventory
Operating expenses

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Supply chains in the service industry :
Service forms offer ______________ ______________, meaning products that cannot be physically touched.

A

Intangible products

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Supply chains in the service industry:
What customers care actually paying for in the service industry is the __________ and the _________________ of the service provider.

A

Labor
Intellectual property

18
Q

Supply chains in the service industry:
Customers are also much __________ _________ _________ in the delivery of services than they are in the supply of a physical product.

A

More directly involved

19
Q

Supply chain in the service industry:
While the service itself is not tangible, it __________ __________ _______________ on a ____________ __________ provided by the ____________.

A

Frequently involves work

Tangible item

Customer

20
Q

SC in the service industry:
Service products cannot generally be produced in _________ or ____________.

A

Advance
Inventoried

21
Q

SC in the service industry:
Services are typically __________ and ___________ ______________ , and in almost every service offering, the service cannot start until the customer arrives and actively participates.

A

Produced

Consumed

simultaneously

22
Q

SC in the service industry:
Many services require the use of ____________ __________ which are tangible elements that are used along with the service provided.

A

Facilitating goods

23
Q

Each trading partner has to:

A

Plan
Source
Make
Deliver (return)

24
Q

End to end SCM:
Supply chains are generally described as ______________ from ______ ____ _____, from your suppliers- suppliers on one end, through you internal operations, and out to your customers- customers on the other end

A

Spanning from end to end

25
Q

SCOR Model: Plan
Planning established the ________________ within which the supply chain will operate

A

Parameters

26
Q

SCOR Model: Plan
Companies need a __________ for managing all of the resources necessary to address how a product or service will be created and delivered to meet the needs of their customers.

A

Strategy

27
Q

SCOR Model: Plan

Panning includes the determination of __________ and ________________ _____________, promotions, quantities, timing, inventory, and replenishment policies, and production policies.

A

Marketing

Distribution channels

28
Q

SCOR Model: Source
Sourcing is the process of ____________ the ____________ that provide the materials and services needed for the supply chain to deliver the finished product(s) desired by the customer(s).

A

Identifying the suppliers

29
Q

SCOR Model: Source

This phase involves not only identifying reliable suppliers but also _____________ a __________ __________ with those suppliers.

A

Building a strong relationship

30
Q

SCOR Model: Source

Supply chain managers must also develop ________, ________, ________, and ________ processes with suppliers and create metrics for monitoring and improving the performance

A

Pricing

Shipping

Delivery

Payment

31
Q

SCOR Model: Make

Make or manufacturing is the series of operations performed to convert ______________ into a ____________ __________.

A

Materials into a finished product

32
Q

SCOR Model: Make

Finished product is ___________, _________, ________, and _________ for delivery.

A

Manufactured

Tested

Packaged

Scheduled

33
Q

Quality management

A

An important aspect of the manufacturing process

34
Q

SCOR Model: DELIVER, is also known as what?

A

Logistics

35
Q

Logistics oversees the planning and execution of the what?

A

Forward flow of goods/ related info between various points in the SC to meet customer requirements

36
Q

Is logistics the same as transportation?

A

NO, its an element to logistics

37
Q

SCOR Model: RETURN is also known as…

A

Reverse Logistics

38
Q

RETURN is part of the supply chain management that deals with planning and controlling the process of ….

A

Moving goods

Specifically from the point of consumption back to the point of origin

39
Q

Goods moving back to the point of origin is for…

A

Repair

Reclamation

Remanufacture

Recycling

Disposal

40
Q

It’s ______ times more sending back an item and its better to _________.

A

5

Destroy

41
Q

SCOR Model: ENABLE

Enabling processes __________ a company’s ability to _______________________________ and are spread throughout every stage.

A

Facilitate

Manage the supply chain

42
Q

SCOR Model: ENABLE

This is ________ a stage that occurs sequentially after all of the others

A

NOT

Supply Chain (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions