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Supply Chain Management > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

what is a supply chain

A

All stages involved, directly or indirectly, in fulfilling a customer’s request

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2
Q

flows in a supply chain

A

information;product;funds

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3
Q

SC stages

A 
customer
retailer
distributor
manufacurer
supplier
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4
Q

What does a SC do

A 
the right product
price
store
quantity
customer
time= higher profits
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5
Q

the objective of a SC

A

maximize overall VALUE created

supply chain surplus=customer value-SC cost

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6
Q

SC profitability

A

the total profit shared across all stages of the supply chain

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7
Q

the customer

A

an integral part of the SC

the only revenue source

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8
Q

decision phases of a SC

A

SC strategy/design
SC planning
SC operation

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9
Q

SC strategy/design

A

decisions about the structure of the supply chain and what processes each stage will perform
eg: locations; products to be made or stored at various locations; transportation; information system

SC design MUST support strategic objectives
SC design decisions are LONG-TERM and EXPENSIVE TO REVERSE

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10
Q

SC planning

A

definition of a set of policies that govern SHORT-TERM operations
the goal is to maximize supply chain surplus given established constraints
starts with a forecast of demand for the coming year

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11
Q

SC operation

A

time horizon is weekly or daily
decisions regard individual customer orders
SC configuration is fixed
the goal is to handle incoming customer orders as effectively as possible
much less uncertainty bc short time horizon

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12
Q

cycle view of a SC

A

customer order cycle; replenishment cycle; manufacturing cycle; procurement cycle
each process is performed at the interface between two successive supply chain stages

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13
Q

push/pull view of a SC

A

push systems: proactive, make to stock

pull systems: reactive, make to order

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14
Q

mission

A

the reason for existence of an organization.

usually accompanied by a statement of objectives/goals

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15
Q

strategy

A

a (long-term) plan for achieving organizational goals

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16
Q

tactics

A

the actions taken to accomplish strategies

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17
Q

operation

A

day to day decisions to support tactics

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18
Q

competitive strategy

A

the set of customer needs a firm seeks to satisfy through its products and services.

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19
Q

strategic fit

A

when competitive and supply chain strategies have aligned goals and are consistent with each other

20
Q

achieving strategic fit

A
  1. the competitive strategy and all functional strategies must fit together to form a coordinated overall strategy
  2. the different functions in a company must appropriately structure their processes and resources to be able to execute these strategies successfully
  3. the design of the overall supply chain and the role of each stage must be aligned to support the supply chain strategy.
21
Q

achieving strategic fit

A
  1. understanding the customer and supply chain uncertainty
  2. understand the supply chain
  3. achieving strategic fit
22
Q

understanding the customer and supply chain uncertainty

A

understand the customer WISHES, understand the CAPABILITIES of your SC, match the wishes with the capabilities.
challenge: how to meet extensive wishes with limited capabilities

23
Q

understanding the customer and supply chain uncertainty

A

products with uncertain demand are often less mature and have less direct competition. as a result, margins tend to be high.
forecasting is more accurate when demand had less uncertainty.
increased implied demand uncertainty leads to increased difficulty in matching supply with demand. for a given product, this dynamic can lead to either a stockout or an oversupply situation.
markdowns are high for products with greater implied demand uncertainty because oversupply often results.

24
Q

understanding the supply chain

A

SC responsiveness comes at a cost
SC efficiency is the inverse to the cost of making and delivering the product to the customer
the cost-responsiveness efficient frontier curve shows the lowest possible cost for a given level of responsiveness

25
Q

achieving strategic fit

A

ensure the degree of supply chain responsiveness is consistent with the implied uncertainty.
assign roles to different stages of the supply chain that ensure the appropriate level of responsiveness.
ensure all functions maintain consistent strategies that support the competitive strategy.
zone of strategic fit 一条斜块阴影
certain demand–efficient SC
uncertain demand–responsive SC

26
Q

changes over the product life cycle

A

demand characteristics of a product and the needs of a customer segment change as a product goes through its life cycle
SC strategy must evolve through the life cycle
beginning stages: demand is very uncertain, supply may be unpredictable. margins are often high, time is crucial to gaining sales. product availability is crucial to capturing the market. cost is often a secondary consideration in customer choice.
later stage: demand has become more certain, demand is predictable. margins are lower as a result of increased competitive pressure. price becomes a significant factor in customer choice.
as the product goes through the life cycle, the supply chain changes from one emphasizing responsiveness to one emphasizing efficiency

27
Q

competitive changes over time

A

competitive pressure change over time; more competitor may result in an increased emphasis on variety at a reasonable price; the internet makes it easier to offer a wide variety of products; the supply chain must change to meet these changing competitive conditions.

28
Q

challenges

A

increasing product variety and shrinking life cycles;
globalization and increasing uncertainty;
fragmentation of supply chain ownership;
changing technology and business environment;
the environment and sustainability;

29
Q

drivers of SC performance

A 
facilities
inventory
transportation
information
sourcing
pricing
30
Q

facilities role in the competitive strategy

A

tradeoffs between facility, inventory and transportation costs;
economies of scale;
larger number of smaller facilities

31
Q

components of facilities decisions

A 
role
location
capacity
manufacturing methodology
warehousing methodology
32
Q

inventory role in the SC

A 
exists because of a mismatch between supply and demand;
a source of cost
an influence on responsiveness
impact material flow time
impacts throughput
33
Q

components of inventory decisions

A

cycle inventory
safety inventory
seasonal inventory
level of product availability

34
Q

transportation role in the SC

A

moves the product between stages in the supply chain
faster transportation allows greater responsiveness but lower efficiency
affects inventory and facilities

35
Q

components of transportation

A

mode of transportation( very in cost, speed, size of shipment and flexibility)
route and network selection
in-house or oursource

36
Q

information role in the SC

A

the connection between the various stages of the supply chain
crucial to the daily operation of each stage in a supply chain

37
Q

components of information decisions

A 
push vs. pull
coordination and information sharing
forecasting and aggregate planning
technology selection
sales and operations planning
38
Q

sourcing role in the SC

A

set of business processes
supplier selection, contract negotiation
crucial:affects efficiency and responsiveness

39
Q

components of sourcing decisions

A

in-house vs. outsource decisions
supplier evaluation and selection
procurement process

40
Q

pricing role in the supply chain

A

amount to charge customers in a supply chain

used to match demand and supply

41
Q

components of pricing decisions

A

pricing and economies of scale
everyday low pricing vs. high-low pricing
fixed price vs. menu pricing

42
Q

obstacles

A

size
globalization
dealing with multiple owners
change

43
Q

distribution

A

steps taken to move and store a product from the supplier to customer in a supply chain
choice of distribution network can achieve supply chain objective from low cost to high responsiveness

44
Q

6 distribution networks

A
  1. direct shipping from manufactures
  2. direct shipping from manufactures with in-transit merge
  3. distributor storage with carrier delivery
  4. distributor storage with last mile delivery
  5. manufacturer/distributor storage with customer pick up
  6. retail storage with customer pick up
45
Q

cost factor

A

inventory
transportation
facilities and handling
information

46
Q

service factor

A 
responsive time
product variety
product availability
customer experience
time to market
order visibility
returnability

Supply Chain Management (1 decks)

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