Chapter 1 SCM Flashcards
The network of all entities involved in producing and delivering a finished product to the final customer
Supply Chain
The design and management of flows of products, information, and funds throughout the supply chain
Supply Chain Management
T/F- The supply chain begins upstream with suppliers and ends downstream with customers
True
Those that supply directly to the producer or manufacturer are referred to as ?
Tier 1 Suppliers
T/F - the Supply chain streams goes from the suppliers to manufacturer to distributor to retailer and finally to customer
True
What are 3 keys details that should be focused on when managing a supply chain?
Coordination
Information Sharing
Collaboration
What scm activity coordinates the movement of goods, services, and funds through the supply chain
Coordination
What scm activity focuses on sharing forecasts, point-of-sale data, planned promotion campaigns, and inventory levels?
Information Sharing
What scm activity focuses on jointly planning, operating, and executing business decisions as one entity
Collaboration
What are the 3 flows of the supply chain?
Flow of Products
Flow of Information
Flow of Funds
This flow occurs in the supply chain when the flow of products flow from upstream to downstream and order qualifiers which result in reverse logistics
Flow of Products
When products flow from downstream to upstream because a customer returned a product this process is known as
Reverse Logistics
This flow occurs when simplified supply chains utilize data from point-of-sale back to suppliers and real time information will reduce uncertainty and inventory levels
This flow will go both ways and create transparency throughout the supply chain
Flow of Information
This flow throughout the supply chain gives the firm an idea about ow much they should be ordering or plan on manufacturing to cover demand
Flow of information
This flow occurs when funds are transferred in both directions along the supply chain and supply chain compression
Flow of Funds
Successful supply chains have reduced order cycle times or the time it actually takes the product to get to their customers this also means they are built sooner and the company receives payment sooner. This process is about of which flows and what term am I describing?
Flow of funds snd supply chain compression
When all members of the supply chain are not communicating the resulting illness is known as
The Bullwhip Effect
The following symptoms are all characteristics of what effect?
- each stage of the chain carries progressively more inventory
- the longer the supply creates the great opportunity for this illness to occur
Bullwhip Effect
Sharing point-of-sale information with all members of supply chain will combat what illness
Bullwhip Effect
T/F- Too much inventory throughout the supply chain will drive up costs
True
What is the driving force of the supply chain?
The final customer
The final customer point-of-sale data allows products to be “pulled” through the supply chain so they are directly signaling demand
True
What type of supply chain focuses more in the interaction between the customer and provider and often rely on customers as the supplier of inputs?
Service Supply Chain
This supply chain tends to be shorter than manufacturing chains and are often more like hubs than chains. They also do not have inventory as a buffer
Service Supply Chains
SCM spans and integrates functions within and between enterprises of the supply chain through:
Intra- Organizational Integration and
Cross- Enterprise Integration
What 4 members of the supply chain are apart of the intra-organizational integration?
Logistics
Marketing
Operations
Sourcing
When each member or individual organization or stage of the supply chain must also collaborate is known as
Cross Enterprise Integration
This intra-organization integration member links the organization to the customer
Marketing
This intra-organization integration member organizes the transformation off raw materials into finished products and services
Operations
This intra-organization integration member links the organization to its suppliers
Sourcing
This intra-organization integration member is responsible for moving and positioning inventory throughout the supply chain
Logistics
T/F- The company wide integration of the the intra-organization integration replaces the old “silo” mentality
True
The various supply chain organizations functioning as a single entity to satisfy the final customer is know as the ***** integration.
Cross-Enterprise Integration
What 5 things can help supply chains achieve cross-enterprise integration
- Information tech as an enabler
-relationship management - collaborative planning
- sharing of risks and rewards
- win-win strat
What term is tasked with weighing the concerns of collaboration between supply chain partners in a strategic effort to achieve superior competitiveness
Supply Chain Management
SCM manages 6 different aspects of the coordination process such as:
- information
-technology - distribution
- products
- finances
- relationships
The part of SCM that is concerned with managing the flow of inventory
Logistics
T/F- The term supply chain management wasn’t introduced in literature until 1980
True
What were key components that contribute to the adoption of supply chain management?
- companies found savings by planning and managing their supply chain more effectively
-made advances in information technology
-improvement in transport methods
And had greater customer empowerment
What are three characteristics of a competitive supply that allows them to compete and be successful?
Responsiveness
Reliability
Relationship Management
This quality of SCM can be described as the ability to move quickly to meet customer demands
Responsiveness
Characteristics of this SCM quality are
- agility
-short supply chains
- and demand-driven rather than forecast-drive
Responsiveness
In supply chains, if any part of it is unreliable this directly creates a need to hold extra inventory this is known as
Safety Stock
T/F- Safety Stock drives down cost and the supply chain wants this
False, drives up cost and is unwanted
T/F-Reliability is the second quality of scm and can be provided by building visibility and transparency in the supply chain
True
What is the main reasons why companies carry safety stock which results in higher costs
Uncertainty
What improves reliability in supply chains?
Visibility
The sharing of real-time data and information through information tech improves visibility and therefore the supply chain reliability. This can be described as what term?
Supply Chain Coordination
T/F- SCM is primarily about the management of relationships across the networks of companies
True
What are the 3 types of relationship management?
Traditional Adversarial Relationships
Relationship Building and Collaboration
Single-Sourcing
This idea supports that the buyer seller relationship should be based upon a partnership of trust, commitment and fairness.
Relationship Building and Collaboration
This type of relationship with suppliers have given way to long term partnerships but lack the need to share information and focus on scm costs collectively
Traditional Adversarial Relationships
This relationship management focuses on building closer supplier relationships and cooperation between buyers and suppliers, and moves away from arms-length relationships. This also lowers freight costs, enables easier scheduling of deliveries, and the supplier may be more cooperative in addressing needs knowing they are the only source
Single Sourcing
What are the 12 trends of SCM
Globalization
Outsourcing
Information Tech
Big Data Analytics
3-D Printing, Robotics, and Open Source Hardware
Postponement
Lean Supply Chain
Managing Supply Chain Disruptions
Supply Chain Security
Sustainability and the “Green” Supply Chain
Innovation
The Financial Supply Chain
T/F-The concept of the Global Marketplace changed how and where businesses conducted and has opened new markets to sell to and new firms where supplies could be sourced from
True
Globalization was enabled by
Information Technology
Transportation
Government Policies
What does GATT stand for
General Agreement on Tariffs and Trades
GATT was replaced by what we know today as the World Trade Organization. What did GATT cover and what does the World Trade Organization cover?
GATT covered only trade and goods while the WTO addressed trade, services and intellectual property.
T/F-The World Trade Organization has 164 members and represents 98% of international trade today.
True
Hiring a third party to perform a set of tasks for a fee is defined as
Outsourcing
What term am I describing?
Forces companies to focus on what they do best and outsource other activities
Increased Competitive Pressure
What term creates superior value by managing core competencies better than competitors
Core Competencies
What is known as the biggest enabler of SCM
Information Technology
What are the 5 ways information tech is enabling the supply chain
Internet
Enterprise Resource Planning (ERP) Software
Wireless and Satellite Communication
Global Positioning Systems (GPS)
Radio Frequency Identification (RFID)
Big Data Analytics is also referred to as
business analytics
This scm trend refers to large datasets whose size is so large that the quantity can no longer fit into a typical computers memory that it uses for processing
Big Data Analytics
What are examples of large datasets are generated by
- Point of sale systems
- Radio Frequency Identification systems
- Call center data
-or various social media outlets
This term refers to the application of math and statistics to these large datasets
Analytics
T/F- Big Data Analytics enables the extraction of meaningful insights which can be converted into intelligence (A.I)
True
This scm trend stems from three technologies used to create a solid object from a software design which transformed how manufacturing is conducted. An example of this in place that it was used to make medical implants and to create prototypes for engineers ( short time in production of prototypes). What is the trend and what is the tech
Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: 3D Printing to Additive Manufacturing
This scm trend stems from three technologies used because it is cheaper than past robotics, can be installed rapidly, and is allows state-of-the-art automation now accessible to small manufacturers without significant capital investment
Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: Intelligent Assembly Robots
This scm trend stems from three technologies, previously companies had to reverse engineer to understand electronic and hardware design. However, designs are now made available at no charge with the goal of accelerating the design of new products
Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: Open- Source Hardware
T/F- Through the adoption and integration of 3-D printing, intelligent assembly robots, and open-source hardware, manufacturing processes can now be run through software
True
This scm trend specializes in the completion of the final product is postponed to the last possible moment till local demand are known
Postponement
This scm trend is used as a strategy for companies to reach diverse geographic areas while still providing local customization
Postponement
This scm trend is the set of all organizations directly linked by upstream and downstream flow of products, services, finances, and information that collaboratively work to reduce cost and waste also known as “the elimination of waste”
Lean Supply Chain
What are the two categories of managing supply chain disruptions?
Increased Risk
Supply Chain Disruptions
Two increased risks for managing supply chain disruptions trend is
Global Sourcing and Lean Operations
What are examples of supply chain disruptions for the managing supply chain disruptions trend
Transportation Delays
Industrial Plant Fires
Work Stoppages
Natural Disasters
Terrorist Attacks
The following strategies are used to aid which trend?
- Backup suppliers
Excess system capacity
Screening suppliers for risk
Developing disruption plans
Anticipating disruption costs
Managing Supply Chain Disruptions
This SCM trend is known as the study of ways to protect security while maintaining efficiency is now key issue
Supply Chain Security
Government regulations are in place to prevent acts of terrorism such as
Customers-Trade Partnership Against Terrorism
Container Security Initiative to aid in which trend
Supply Chain Security
Supply chain security are trying to combat theft through the use of technologies by assessing
Electronic Seals
RFIDS and GPS
Which scm trend is concerned about having a sustainable chain and environmental concerns
Sustainability and the “Green” Supply Chain
Climate change, energy use, environmental contamination, and resource depletion are all ** concerns
Environmental
Which supply chain processes to use environmentally friendly inputs and create outputs that can be recycled and that do not contaminate the environment
Sustainable Supply Chains
An example of the sustainability and the “Green” supply chain is the process and use of
smart packages and filing trucks as full as possible
The supply chain trend that focuses on designing and completion on innovation is known as the
Innovation Trend
When a supply chain is designing new products, designing new cost-cutting production processes and more efficient product delivery mechanisms this is the company acting on what trend
Innovation
What are the 3 perks for competing on innovation
- shorter supply chains
-involve suppliers early in design process - and utilize supplier product and process improvement ideas
This scm trends job is to redesign supply chains and search for less costly sources of supply
Financial Supply Chain
What are strategies for the financial supply chain
Global Sourcing
Production Outsourcing
Outsourcing Noncore Activities
The time it takes to convert an order into cash is defined as
Cash to Cash Cycle
What are three examples of SCM Job Duties
Entry-Level Management
Middle Level Managements
Senior Executives Positions
*Associate Global Supply
Chain Planner
* Distribution Center
Inventory Control &
Quality Assurance (ICQA)
Leader
* Sector Transport Asst.
Analyst
* Supply Chain Associate
* Global Supply Chain
Specialist
* Supply Chain Demand
Planner
* Mfg Supply
Chain/Procurement Leader are all examples of what level jobs
Entry Level
Implementation
Consultant - Supply
Chain
* Supply Chain Systems
Design Specialist
* Buyers
* Supply Specialist
* Associate Product
Manager – Supply
Chain
* Supply Chain Planning
Specialist
* Supply Chain Specialist
* Supply Chain
Coordinator are all examples of what level management and how many years have they worked to get position
Middle Level and 3-5 years
Supply Chain
Operations Program
Manager
* Product Manager –
Supply Chain
* Manufacturing Supply
Chain Director
* Manager of Supply
Chain Operations
* Supply Chain
Associate Director
* Director of Supply
Chain Business
Systems
are all examples of what level management and how many years have they worked to get position
Senior Executive Positions 5 or more years
What does ASCM stand for
Association for Supply Chain Management
What does IANA stand for
Intermodal Association of North America
What does CSCMP stand for
Council of Supply Chain Management Professionals
What does ISM stand for
Institute for Supply Management
Examples of Traditional Manufacturers include
automotive – GM, Ford, etc.
consumer goods – P&G, PepsiCo, etc.; pharmaceuticals – Eli Lilly, Bristol Myers Squibb, etc
Examples of Retailers include
(Target, Walmart, Dollar General, Amazon, Hollister, Co., AEO Management Co., Ulta Beauty, Bass Pro Shops, etc.)
Examples of Service Organizations are
Education – Georgia Southern University, Government – Federal, State,
Financial – VISA, Bank of America, etc.
Health Care – East Georgia Regional Medical Center (hospital in Statesboro), Memorial Health University Medical Center (hospital in Savannah); many other service organizations!!!)
Example of consulting firms
Manhattan Associates, Accenture, etc.
Example of Transportation service providers
DHL, J.B. Hunt, BNSF, Syfan Logistics, Marten Transport, etc.
