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 customer social data. Also collaborates well with retailers.

A

Proctor & Gamble

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

It ambitiously sought sustainable growth, with a goal of doubling its revenue using half its environmental footprint by 2020. Its supply chain program is designed to determine the right level of services and marketing support each channel requires to enable profitable growth.

A

Unilever

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

Clearly communicates operating principles for owner-operators, suppliers, and corporate headquarters. It also has created a culture emphasizing long term strategic partnerships with key suppliers.

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. Using latest technologies, it manages its supply chains in a precise and efficient manner.

A

Amazon

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

Systems 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
7
Q

Network of retailers, distributors, transporters, storage facilities, and supplies that participate in the production, delivery and sale of a product to the consumer.

A

Supply Chain

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

Link between a firm or business and its suppliers and customers.

A

Supply Chain

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

Association for Operations Management (APICS)

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

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
9
Q

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
9
Q

Supply management is also known as?

A

Procurement

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

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

Manufacture quality products at the lowest imaginable controllable cost, in order to deliver volume targets.

A

Plant Management

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

Four Pillars of Supply Management

A
  1. Logistics and Operations
  2. Customer Service
  3. Demand and Replenishment
  4. Purchasing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

First appeared in logistics literature in 1982 as an inventory management approach with an emphasis on the supply of raw materials.

A

Supply Chain Management (Oliver and Webber, 1982)

13
Q

Academics first described SCM from a theoretical standpoint to clarify how it differed from more traditional approaches to managing the flow of materials and the associated flow of information.

A

Cooper and Ellram, 1993

14
Q

Defines supply chain management as: 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 (CSCMP)

14
Q

Oversight of materials, information, and finances distributed from supplier to consumer.

A

Supply Chain Management

15
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

Institute of Supply Management (ISM)

15
Q

An art of management of providing the right product, at the right time, right place, and at the right cost to the customer.

A

Supply Chain Management

15
Q

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

A

Product Flow

15
Q

Supply chain management can be divided into 3 main flows.

A
  1. Product Flow
  2. Information Flow
  3. Financial Flow
16
Q

Includes order information and delivery status.

A

Information Flow

17
Q

Includes payment schedules, credit terms, and additional arrangements.

A

Financial Flow

18
Q

Amount consumers are willing to pay for what a company provides, and it is measured by total revenue.

A

Value

19
Q

Originates from Porter’s ‘value chain framework’ and characterizes the value created by an activity in relation to the cost of executing it.

A

Value-added Activity

20
Q

What is the final objective of a supply chain?

A

Customer Satisfaction

21
Q

What is the main purpose of supply chain?

A

Maximize overall value generated

22
Q

The difference between the supply chain cost and revenue generated.

A

Supply Chain Surplus or Profitability

23
Q

Supply chain management has to be. (2)

A

Efficient and Cost Effective

24
Q

What are the objectives of supply chain management?

A
  • enhancing customer service
  • expanding sales revenue
  • reducing inventory cost
  • 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
25
Q

What is the importance of supply chain management?

A
  • reduce inventories along the chain
  • share better information among the partners
  • plan in consultation rather than in isolation
26
Q

3 Activities of Supply Chain Management

A
  1. Strategic
  2. Tactical
  3. Operational
27
Q

Such decisions have a long-lasting effect on the firm.

A

Strategic

28
Q

Decisions focus on adopting measures that will produce cost benefits such as using industry best practice, developing a purchasing strategy with favored suppliers.

A

Tactical

29
Q

Decisions affect how the products move along the supply chain.

A

Operational

Supply Chain Management (4 decks)

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