Brainscape's Knowledge GenomeTM

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


See full index

SUPPLY CHAIN MANAGEMENT > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Its supply chain strategy is the delivery of winning customer solutions.

A

Apple

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

It is a pioneer in demand management, incorporating a range of inputs, including consumer social data.

A

Proctor and Gamble

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

It has ambitiously sought sustainable growth, with a goal of doubling its revenue using half its environmental footprint by 2020.

A

Unilever

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

Two of its current strategies are further coordination along its supply chains and higher speed to market.

A

McDonald’s

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

It continues a push to create innovative products and services.

A

Amazon

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

The pressure of the competitive market and new information technologies has affected the structured of the production systems, calling for:

A

-reduction of time to market
-higher flexibility of the systems
-drastic reduction of costs
-extended quality concept

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

Is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer.

A

Supply Chain

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

What are the three key parts of supply chain?

A

-Supply
-Manufacturing
-Distribution

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

It focuses on the raw materials supplied to manufacturing, including how, when, and from what location.

A

Supply

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

It focuses on converting these raw materials into finished products

A

Manufacturing

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

It focuses on ensuring that the products reach the consumers through an organized network of distributors, warehouses and retailers

A

Distribution

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

In ______, used products may re-enter the supply chain at any point where residual value is recyclable.

A

Sophisticated supply chain systems

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

Refers to how the supply chain should operate in order to compete in the market

A

Supply chain strategy

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

Flow in a supply chain

A

Raw Material Suppliers - Manufacturing - Retailers - End customers

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

Refers to the act of identifying, acquiring, and managing resources and suppliers that are essential to the operations of an organization

A

Supply Management

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

Also known as ______, supply management includes the purchase of physical goods, information, services, and any other necessary resources that enable a company to continue operating and growing

A

Procurement

17
Q

Encompasses the planning and management of all activities involved in sourcing and procurement, demand and replenishment and all logistics management activities including customer service

A

Supply Management

18
Q

To manufacture quality products at the lowest imaginable controllable cost, in order to deliver volume targets

A

Plant Management

19
Q

Functional scope for supply management is based on four pillars

A

-Logistic Operations
-Customer Service
-Demand and Replenishment
-Purchasing

20
Q

What are the current trends in SCM?

A

-Expanding (and Contracting) the supply chain
-Increasing supply chain responsiveness
-The greening of supply chain
-Reducing cost

21
Q

Defines supply chain management as: The planning and management of all activities involved in sourcing and procurement, conversion and all logistic management activities

A

The Council of Supply Chain Management Professionals (CSCMP)

22
Q

Describes supply chain management as: The design and management of seamless, value -added processes across organizational; boundaries to meet the real needs of the end customer

A

The Institute for Supply Management (ISM)

23
Q

Defines supply chain management as: The design, planning, execution, control and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally

A

The Association for Operations Management (APICS)

24
Q

Defines supply chain management as follows: “Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities”

A

Council of Supply Chain Management Professionals

25
Q

SCM is also called the _______ of providing the right product, at the right time, right place and at the right cost to the customer.

A

Art of management

26
Q

Supply chain management can be divided into three main flows

A

-Product
-Information
-Financial

27
Q

Includes moving goods from supplier to consumer, as well as dealing with customer service needs

A

Product flow

28
Q

Includes order information and delivery status

A

Information flow

29
Q

Includes payment schedules, credit terms, and additional arrangements

A

Financial flow

30
Q

Is the amount consumers are willing to pay for what a company provides and it is measured by total revenue

A

Value

31
Q

Can be defines as the total profit shared by all the stages and intermediaries of a supply chain

A

Supply chain surplus

32
Q

Objectives of supply chain management

A

-enhancing customer service
-expanding sales revenue-
reducing inventory costs
-improving on-time delivery
-reducing order to deliver cycle time
-reducing lead time
-reducing transportation cost
-reducing warehouse cost
-reducing supplier base
-expanding depth of distribution

33
Q

The importance of supply chain management is to:

A

-reduce inventories along the chain
-share better information among the partners
-plan in consultation rather than in isolation

34
Q

Activities of supply chain management

A

-Strategic
-Tactical
-Operational

35
Q

At this level, strategic decisions concerning the whole organization, such as the size and location of manufacturing sites, partnerships with suppliers, products to be manufactured and sales markets are taken

A

Strategic

36
Q

Focus on adopting measures that will produce costs benefits such as using industry best practices, developing a purchasing strategy with favored suppliers, working with logistics companies to develop cost effect transportation and developing warehouse strategies to reduce the cost of storing inventory

A

Tactical

37
Q

Decisions at this level affect how the products move along the supply chain

A

Operational

38
Q

Refers to how the supply chain should operate in order to compete in the market

A

Supply chain strategy

SUPPLY CHAIN MANAGEMENT (4 decks)

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