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Supply Chain Management > Chapter 1: Understanding Supply Chain > Flashcards

Chapter 1: Understanding Supply Chain Flashcards

1
Q

The term “supply chain management” arose in the late ___ and
came into widespread use in the ____.

A

1980s
1990s

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2
Q

Term used to denote supply chain management before.

A

“logistics” and “operations management”

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3
Q

the alignment of firms that bring products or
services to market.

A

supply chain

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4
Q

It consists of all stages involved, directly or indirectly, in fulfilling a customer request.

A

supply chain

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5
Q

ToF. The supply chain not only includes the manufacturer and suppliers, but also transporters, warehouses, retailers, and customers themselves.

A

True

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6
Q

A _____ is a network of facilities and distribution options that performs the functions
of procurement of materials, transformation of these materials into intermediate and
finished products, and the distribution of these finished products to customers.

A

supply chain

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7
Q

The systemic, strategic coordination of the traditional business functions and the tactics
across these business functions within a particular company and across businesses within the supply chain, for the purposes of improving the long-term performance of the individual companies and the supply chain as a whole.

A

Supply Chain Management

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8
Q

is the coordination of production, inventory, location, and
transportation among the participants in a supply chain to achieve the best mix of
responsiveness and efficiency for the market being served

A

Supply chain management

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9
Q

This activity includes the creation of master production schedules that take
into account plant capacities, workload balancing, quality control, and equipment maintenance.

A

Production

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10
Q

The primary purpose is to act as a buffer against uncertainty in the supply chain.

A

inventory

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11
Q

Answers the question “How should inventory be moved from one supply chain location to another?”

A

Transportation

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12
Q

With good ______, people can make effective decisions about what to produce and how much, about where to locate inventory and how best to transport it.

A

information

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13
Q

Five areas of supply chain management

A

Production
Inventory
Location
Transportation
Information

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14
Q

refers to the rate at which sales to the end customer occur.

A

throughput

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15
Q

The goal or mission of supply chain management can be defined using Mr. Goldratt’s words as …

A

“Increase throughput while simultaneously reducing both inventory and operating expense.”

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16
Q

Drivers of Supply Chain

A

Facilities
Inventory
Transportation
Information
Sourcing
pricing

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17
Q

places where inventory is stored, assembled or fabricated

A

Facilities

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18
Q

Production sites and storage sites

A

Facilities

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19
Q

Raw materials, wip, finished goods within a supply chain

A

Inventory

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20
Q

Inventory policies

A

Inventory

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21
Q

Moving inventory from point to point in a supply chain

A

Transportation

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22
Q

Combination of transportation modes and routes

A

Transportation

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23
Q

Data and analysis regarding inventory transportation facilities throughout the supply chain

A

Information

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24
Q

Potentially the biggest driver of supply chain performance

A

Information

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25
Q

Functions a firm performs and functions that are outsourced

A

Sourcing

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26
Q

Price associated with goods and services provided by firm to the supply chain

A

Pricing

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27
Q

Refers to the capacity of a supply chain to make and store products

A

Production

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28
Q

Three main approaches to use in warehousing

A

Stock keeping unit (sku) storage
job lot storage
cross docking

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29
Q

In this traditional approach all of the given type of products is stored together this is an efficient and easy to understand way to store products

A

Stock keeping unit (sku) storage

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30
Q

In this approach all the different products related to the needs of a certain type of customer or related to these needs of a particular job are stored together

A

Job lot storage

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31
Q

This allows for an efficient picking and packing operations but usually requires more storage space than the traditional sku storage approach

A

Job lot storage

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32
Q

An approach that was pioneered by walmart in its strive to increase efficiencies in the supply chain

A

Cross docking

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33
Q

In this approach product is not actually warehouse in the facility instead the facility is used to a house a process where trucks from the suppliers arrive and unload large quantities of different products list large lots are then broken down into smaller lots smaller lots of different products are recognized according to the needs of the day

A

Cross docking

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34
Q

Spread throughout the supply chain and includes everything from raw materials to work in process to finish goods that are held by the manufacturers distributors and retailers of a supply chain

A

Inventory

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35
Q

Inventory that is held as a buffer against uncertainty

A

Safety inventory

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36
Q

If the demand forecasting could be done with perfect accuracy then the only inventory that would be needed would be ____

A

Cycle inventory

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37
Q

This is inventory that is built up in anticipation of predictable increases in demand that occurs in a certain times of the year

A

Seasonal inventory

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38
Q

Refers to the geographical siting of supply chain facilities

A

Location

39
Q

Types of activities in location

A

Centralized and decentralized

40
Q

Refers to the movement of everything from raw material to finish goods between different facilities in a supply chain

A

Transportation

41
Q

Six basic modes of transport that a company can choose from

A

Ship
rail
pipelines
trucks
Airplanes
electronic transport

42
Q

It is a very cost efficient but also the slowest mode of transportation

A

Ship

43
Q

Limited to use between locations that are situated next to the navigable waterways and facilities such as harbors and canals

A

Ship

44
Q

A very cost efficient but can be slow, this mode is also restricted to use between locations that are severed by rail lines

A

Rail

45
Q

It can be very efficient but are restricted to commodities that are liquids or gases such as water oil and natural gas

A

Pipelines

46
Q

Relatively quick and very flexible mode of transportation, it can go almost anywhere

A

Trucks

47
Q

Cost of this mode is prone to fluctuations though as the cost of fuel fluctuates and the condition of roads varies

A

Trucks

48
Q

Are very fast mode of transportation and are very responsive this is also the most expensive mode and it is somewhat limited by the availability of appropriate airport facilities

A

Airplanes

49
Q

It is the fastest mode of transport and it is very flexible and cost effective

A

Electronic transport

50
Q

It is the path through which products move and networks are composed of the collection of the paths that can facilities connected those paths

A

Route

51
Q

Is the basis upon to which make decisions regarding the other four supply chain drivers

A

Information

52
Q

It is the connection between all of the activities and operations in a supply chain to the extent that this connection is a strong one the company is supply chain will each be able to make good decisions for their own

A

Information

53
Q

Information is used for two purposes in any supply chain and that is

A

Coordinating daily activities & forecasting and planning

54
Q

The company’s in a supply chain is used available data on product supply and demand to decide on weekly production schedules inventory levels transportation routes and stocking location

A

Coordinating daily activities

55
Q

Available information is used to make tactical forecast to guide the setting of monthly and quarterly production schedules and timetables

A

Forecasting and planning

56
Q

Are organizations that make a product this includes companies that are producers of raw materials and companies that are producers of finished goods

A

Producers or manufacturers

57
Q

Are organizations that mine for minerals drill for oil and gas and cut timber it also includes organization that form the land race animals or catch seafoods

A

Producers of raw materials

58
Q

These are companies that use the raw materials and subassemblies made by other producers to create their products

A

Producers of finished goods

59
Q

Are companies that take inventory in bulk from producers and deliver a bundle of related product lines to customers

A

Distributors

60
Q

Distributors are also known as

A

Wholesalers

61
Q

They typically sell to other businesses and they sell products in larger quantities than a individual consumer would usually buy

A

Distributors

62
Q

Buffer the producers from fluctuations in demand by stocking inventory and doing much of the sales work to find the service customers

A

Distributors

63
Q

They fulfill the “time and place” function - they deliver products when and where the customer wants them

A

Distributors

64
Q

Is typically an organization that takes ownership of significant inventories of products that they buy from producers and sell to consumers

A

Distributor

65
Q

It can also be an organization that only brokers a product between the producer and the customer and never takes ownership of that product

A

Distributor

66
Q

They stuck inventory and sell in smaller quantities to the general public

A

Retailers

67
Q

This organization also closely tracks the preferences and demands of the customers that it sells to

A

Retailers

68
Q

It advertises to its customers and often uses some combinations of price product selection service and convenience as primary draw to attract customers for the product it sells

A

Retailers

69
Q

Are any organization that purchases and uses a product

A

Customers or consumers

70
Q

They may purchase a product in order to incorporate it into another product that they intern sell to other customers

A

Customer organization

71
Q

Final end user of a product

A

Customer

72
Q

These are organizations that provide services to producers distributors retailers and customers

A

Service providers

73
Q

Three steps to align supply chain and business strategy

A
  1. Understand the requirements of your customers
  2. define core competencies and the rules your company will play to serve your customers
  3. develop supply chain capabilities to support the rules company has chosen
74
Q

Is the total amount that buyers are willing to pay for firms products

A

Value

75
Q

Is a tool developed by dr michael porter

A

Value chain

76
Q

The difference between the total value or revenue and the total cost of performing all of the firms activities provides the…

A

Margin

77
Q

It is concentrating on the activities starting with raw materials till the conversion into final goods or services

A

Value chain

78
Q

Two categories of value chain

A

Primary activities
support activities

79
Q

Value chain is categorized into types based on the type of organizations

A

Manufacturing based
service based
both manufacturing and service based

80
Q

It is a tool used to identify sources of competitive advantage

A

Value chain

81
Q

Represents the internal activities a firm engages in when transforming inputs into outputs

A

Value chain

82
Q

Is a strategy tool used to analyze firms activities by recognizing which activities are the valuable to the firm and which one needs to be improved

A

Value chain analysis

83
Q

Types of firm

A

Primary activities and support activities

84
Q

Primary activities in supply chain

A

Inbound logistics
Operations
outbound logistics
marketing and sales
service

85
Q

The receiving and warehousing of raw materials

A

Inbound logistics

86
Q

Process of transforming inputs into finished goods and services

A

Operations

87
Q

Warehousing a finished goods or distribution of those finished goods to customers for retail stores

A

Outbound logistics

88
Q

The identification of customer needs and deploying product into marketplace and process of selling the customers

A

Marketing and sales

89
Q

Supporting customers after they buy products and services

A

Service

90
Q

Support activities in supply chain

A

Procurement
Technology development
Human resource management
Firm infrastructure

91
Q

The purchasing of raw materials and inputs needed to create the product

A

Procurement

92
Q

Activities associated with recruiting training hiring and compensation

A

Human resource management

93
Q

Includes general and planning management legal finance accounting public affairs and quality management

A

Firm infrastructure

Supply Chain Management (6 decks)

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