CHAPTER 1 – THE GROWING DEMAND FOR SUPPLY CHAIN MANAGEMENT

Question 1

– The basic principle of the supply chain began to shape.

Answer 1

1980

Question 2

planning and coordination of all of the people, processes and technology involved in creating value for a company.

Answer 2

Supply Chain Management

Question 3

Managing a supply chain effectively involves coordinating all of the work inside your company with the happenings outside of your company.

Answer 3

Supply Chain Management

Question 4

means “money”
– If a customer is willing to pay for something then it has ?

Answer 4

value

Question 5

– impact the value equation for a company
– critical to a supply chain
– they are so interdependent, it’s a bad idea to manage them separately, in silos

Answer 5

Negotiating prices, scheduling manufacturing, and managing logistics

Question 6

– difference between the amount of money your company brings in (revenue) and the amount of money that you spend (costs)

Answer 6

Profit

Question 7

– the amount of value that you have captured from your supply chain.

Answer 7

Profit

Question 8

To prepare for the unknown and the unknowable, there are 3 important things to note:

Answer 8

Which scenarios are most important to you?
What do you do - and how - in each scenario?
How you can tell when the scenario is becoming reality

Question 9

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

Answer 9

Force Majeure

Question 10

Supply chain management professionals

Answer 10

generalists & specialists

Question 11

who look at the big picture

Answer 11

Generalists

Question 12

focus on particular step in the supply chain

Answer 12

Specialists

Question 13

way of describing the essence of supply chain management

Answer 13

Supply Chain Management Principles

Question 14

10 Supply Chain Management Principles

Answer 14

1. Customer Focus
2. Systems Thinking
3. Bimodal Innovation
4. Collaboration
5. Flexibility
6. Technology
7. Global Perspective
8. Risk Management
9. Visibility
10. Value Creation

Question 15

– understanding who your customers are and why they’re buying your product and services

Answer 15

Customer focus

Question 16

– SCM requires an understanding of the end-to-end system - the combination of people, processes, and technologies— that must work together so that you can provide your product or service.

Answer 16

System thinking

Question 17

– involves an appreciation for the series of cause-and-effect relationships that occur within the supply chain

Answer 17

System thinking

Question 18

– Supply chains need continuous process improvement, or sustaining innovation, to keep pace with competitors.

Answer 18

Bimodal innovation

Question 19

Process improvement methods

Answer 19

Lean, Six Sigma, and the Theory of Constraints

Question 20

– new technologies can disrupt industries.

Answer 20

Disruptive innovation

Question 21

– People need to work across silos inside an organization
– SCM need to work with suppliers and customers outside organizations.

Answer 21

Collaboration

Question 22

– measurement of how quickly your supply chain can respond to changes such as increase or decrease in sales or disruption in suppliers.

Answer 22

Flexibility

Question 23

– for moving physical products and for processing information
– has transformed the way that supply chains work.

Answer 23

Technology

Question 24

– The ability to share information instantly and to move products around the world cheaply means that every company today operates in a global marketplace
– business depends on global factors to supply inputs and drive demand for outputs
– think globally about the competition

Answer 24

Global perspective

Question 25

is the key to avoiding or minimizing the costs of dealing with surprises

Answer 25

Risk Management

Question 26

the key to making supply chain work smoothly

Answer 26

Stability

Question 27

– Knowing what’s happening in real time (or close to real time) lets you make better decisions faster.
– lets you make decisions based on facts rather than on intuition or uncertainty.

Answer 27

Visibility

Question 28

value is the heart of supply chain management

Answer 28

Value Creation

Question 29

– job description for supply chain manager

Answer 29

Five Supply Chain Tasks

Question 30

supply chain expert who said that SCM should concentrate on five tasks:

Answer 30

James B. Ayers

Question 31

Five Supply Chain Tasks

Answer 31

1. Designing supply chain for strategic advantages
2. Implementing collaborative relationships
3. Forging supply chain partnership
4. Managing supply chain information
5. Making money from supply chain

Question 32

strategy for helping a company to plan and implement effective supply chain management practices

Answer 32

Implementing the New Supply Chain Agenda (5)

Question 33

Implementing the New Supply Chain Agenda (5)

Answer 33

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