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SCM 3301 > EXAM 1 > Flashcards

EXAM 1 Flashcards

1
Q

SCOR STANDS FOR?

A

SUPPLY CHAIN OPERATIONS REFERENCE

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2
Q

MY ORGANIZATION DEFINITION

A

FOCAL FIRM

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3
Q

DIRECT SUPPLIER TO FOCAL FIRM DEFINITION

A

1ST TIER SUPPLIER

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4
Q

DIRECT SUPPLIER TO 1ST TIER SUPPLIER

A

2ND TIER SUPPLIER

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5
Q

DIRECT CUSTOMER TO FOCAL FIRM

A

1ST TIER CUSTOMER

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6
Q

DIRECT CUSTOMER OF 1ST TIER CUSTOMER

A

2ND TIER CUSTOMER

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7
Q

2 ELEMENTS

A

STRUCTURAL INFRASTRUCTURAL

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8
Q

INFRASTRUCTURAL ELEMENT DEFINITION

A

CULTURE & OPERATIONAL PRACTICES

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9
Q

4 PART FLOW OF STRATEGY DEVELOPMENT

A
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10
Q

OPS & SUPPLY CHAIN STRATEGY DEFINITION

A

SUPPORTS BUSINESS STRATEGY BY DECIDING ACQUISITIONS & DEVELOPMENT

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11
Q

3 OBJECTIVES OF OPS & SUPPLY CHAIN STRATEGIES

A
  1. CHOOSE CORRECT ELEMENTS BASED ON CUSTOMERS & TRADE-OFFS
  2. ENSURE ELEMENTS ALIGNED WITH BUSINESS STRATEGY
  3. DEVELOP CORE COMPENTENCIES
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12
Q

3 STRUCTURAL DECISIONS & TRADEOFFS

A
  1. CAPACITY
  2. FACILITIES
  3. TECHNOLOGY
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13
Q

5 INFRASTRUCTURAL DECISIONS & TRADEOFFS

A
  1. ORGANIZATION
  2. SOURCING/PURCHASING
  3. PLANNING & CONTROL
  4. BUSINESS PROCESSES & QUALITY MANAGEMENT
  5. PRODUCT & SERVICE DEVELOPMENT
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14
Q

4 PERFORMANCE DIMENSIONS

A
  1. QUALITY
  2. FLEXIBILITY
  3. TIME
  4. COST
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15
Q

3 QUALITY MEASUREMENTS

A
  1. PERFROMANCE QUALITY
  2. CONFORMANCE QUALITY
  3. RELIABILITY QUALITY
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16
Q

3 FLEXIBILITY MEASUREMENTS

A
  1. MIX FLEXIBILITY
  2. CHANGEOVER FLEXIBILITY
  3. VOLUME FLEXIBILITY
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17
Q

2 TIME MEASUREMENTS

A
  1. DELIVERY SPEED
  2. DEVILIVERY RELIABILITY
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18
Q

5 COST MEASUREMENTS

A
  1. LABOR COSTS
  2. MATERIAL COSTS
  3. ENGINEERING COSTS
  4. QUALITY RELATED COSTS
  5. OVERHEAD ALLOCATION
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19
Q

STRADDLING DEFINITION

A

COMPETITION WITHIN ALL PERFORMANCE DIMENSIONS

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20
Q

PERFORMANCE DIMENSIONS PRIORITIZATION CONCEPT

A

EXCEL IN DIMENSIONS HIGHLY VALUED BY CUSTOMERS

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21
Q

2 PERFORMANCE DIMENSIONS ORDERS

A
  1. ORDER WINNERS
  2. ORDER QUALIFIERS
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22
Q

ORDER WINNERS DEFINITION

A

MARKET SHARE DRIVER, HIGHLY PREFERRED BY CUSTOMERS OVER COMPETITORS

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23
Q

ORDER QUALIFIERS DEFINITION

A

MINIMIMUM CUSTOMER EXPECTATIONS

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24
Q

4 ALIGNMENT STAGES

A
  1. INTERNALLY NEUTRAL
  2. ESTERNALLY NEUTRAL
  3. INTERNALLY SUPPORTIVE
  4. EXTERNALLY SUPPORTIVE
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25
Q

ALIGNMENT STAGE 1 DEFINITION

A

NOT LINKED TO BUSINESS STRATEGY

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26
Q

ALIGNMENT STAGE 4 DEFINITION

A

DEVELOP CHAIN CORE COMPETENCIES

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27
Q

ALIGNMENT STAGE 2 DEFINITION

A

FOLLOW INDUSTRY BEST PRACTICES

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28
Q

ALIGNMENT STAGE 3 DEFINITION

A

CHAIN ALIGNS WITH BUSINESS STRATEGY

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29
Q

5 STRATEGIC OPERATING MODELS FRAMEWORK STEPS

A
  1. DIVIDE MARKETS INTO ORDER WINNERS/QUALIFIERS
  2. IDENTIFY SEGMENT/S TO ENTER
  3. TRANSLATE WINNERS/QUALIFIERS TO PROCESS REQUIREMENTS
  4. DESIGN PROCESS TO MEET REQUIREMENTS
  5. DESIGN INFRASTRUCUTURE TO SUPPORT PROCESSES
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30
Q

___ seeks to be the preeminent professional association providing worldwide leadership for the evolving logistics profession through the development, dissemination, and advancement of logistics knowledge

A

CSCMP

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31
Q

5 AREAS OF SCOR

A
  1. PLANNING
  2. SOURCING
  3. MAKE/PRODUCTION
  4. DELIVERY
  5. RETURN
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32
Q

3 TRENDS

A
  1. AGILITY
  2. INFORMATION TECHNOLOGIES
  3. PEOPLE
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33
Q

CSCMP STANDS FOR

A

Council of Supply Chain Management Professionals

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34
Q

___ describes itself as “The Association for Operations Management.” It is a widely recognized professional society for persons interested in operations and supply chain management. ___ currently has more than 67,000 members and 250 chapters throughout the United States and its territories.

A

APICS

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35
Q

APICS STANDS FOR

A

Association for Operations Management

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36
Q

___ provides national and international leadership in purchasing and materials management, particularly in the areas of education, research, and standards of excellence

A

ISM

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37
Q

ISM STANDS FOR

A

Institute for Supply Management

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38
Q

___ is the planning, scheduling, and control of the activities that transform inputs into finished goods and services

A

OPERATIONS MANAGEMENT

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39
Q

CUSTOMER VALUE INDEX DEFINITION

A

OVERALL VALUE OF PRODUCT TO CUSTOMERS

40
Q
A
41
Q

3 STRUCTURAL ELEMENTS

A
  1. BUILDINGS
  2. EQUIPMENT
  3. COMPUTER SYSTEMS
42
Q

4 INFRASTRUCTURAL ELEMENTS

A
  1. POLICIES
  2. PEOPLE
  3. DECISION RULES
  4. ORGANIZATIONAL STRUCTURE
43
Q

4 Performance Dimensions

A
  1. Quality
  2. Time
  3. Flexibility
  4. Cost
44
Q

mix flexibility DEFINITION

A

the ability to produce a wide range of products or services

45
Q

the ability to provide a new product with minimal delay

A

changeover flexibility DEFINITON

46
Q

volume flexibility DEFINITION

A

the ability to produce whatever volume the customer needs

47
Q

4 Stages of Alignment with the Business Strategy

A
  1. INTERNALLY NEUTRAL
  2. EXTERNALLY NEUTRAL
  3. INTERNALLY SUPPORTIVE
  4. EXTERNALLY SUPPORTIVE
48
Q

performance quality DEFINITION

A

What are the basic operating characteristics of the product or service?

49
Q

conformance quality DEFINITION

A

Was the product made or the service performed to specifications?

50
Q

reliability quality DEFINITION

A

Will a product work for a long time without failing or requiring maintenance? Does a service operation perform its tasks consistently over time?

51
Q

4 FORECAST TYPES

A
  1. DEMAND
  2. SUPPLY
  3. PRICE
  4. ECONOMIC
52
Q

4 LAWS OF FORECASTING

A

§Law 1: Forecasts are almost always wrong (but still useful)

§Law 2: Short term forecasts tend to be more accurate than longer term forecasts.

§Law 3: Forecasts for Groups (categories) of Products or Services tend to be more accurate than forecasts for specific products or services.

§Law 4: Forecasts are not a substitute for Calculated Values. Only use forecasting when a more reliable method is not available.

53
Q

8 STEPS IN FORECASTING

A
  1. Determine how the forecast will be used
  2. Select the values to forecast
  3. Determine the planning time horizon of the forecast
  4. Select potential forecasting model(s)
  5. Gather historical data from which to forecast
  6. Calculate forecasts using forecasting model(s)
  7. Evaluate forecast accuracy & choose a forecasting model
  8. Make future predictions based upon the forecasting model
54
Q

3 FORECAST PLANNING TIME HORIZONS

A
  1. LONG RANGE FORECAST (ASSET ACQUISITION)
  2. MEDIUM RANGE FORECAST (ASSET UTILIZATION)
  3. SHORT RANGE FORECAST (ASSET EXECUTION)
55
Q

3 ASPECTS OF LONG RANGE FORECASTING

A

§Yearly planning bucket

§3-10 years planning horizon

§New product planning, facility construction, technology

56
Q

3 ASPECTS OF MEDIUM RANGE FORECASTING

A

§Monthly/Quarterly planning bucket

§3 months to 2 years planning horizon

§Seasonal production, inventory, employment, budgeting

57
Q

3 ASPECTS OF SHORT RANGE FORECASTING

A

§Weekly/Monthly planning bucket

§1-26 week planning horizon

§Job scheduling, worker assignments, inventory stocking

58
Q

5 QUALITATIVE FORECASTING METHODS

A
  1. MARKET SURVEYS
  2. PANEL CONSENSUS FORECASTING
  3. DELPHI METHOD
  4. LIFE CYCLE ANALOGY METHOD
  5. BUILD UP FORECASTS
59
Q

MARKET SURVEYS DEFINITION

A

§Structured questionnaires or market research panels

60
Q

§Experts meet together to develop forecasts

A

PANEL CONCENSUS FORECASTING DEFINITION

61
Q

DELPHI METHOD DEFINITION

A

Experts develop forecasts separately & then revise

62
Q

§Modeling growth and decline based upon similar products

a qualitative forecasting technique that attempts to identify the time frames and demand levels for the introduction, growth, maturity, and decline life cycle stages of a new product or service

A

LIFE CYCLE ANALOGY METHOD DEFINITION

63
Q

BUILD UP FORECASTS DEFINITION

A

§Market Segment experts develop forecasts that are added together

64
Q

6 TIME SERIES MODEL QUANTITATIVE FORECASTING APPROACHES

A

§Last Period or Naïve Forecast

§Moving Average

§Weighted Moving Average

§Exponential Smoothing

§Adjusted Exponential Smoothing*

§Linear Regression*

65
Q

2 CASUAL MODEL QUANTITATIVE FORECASTING APPROACHES

A

§Linear Regression*

§Multiple Regression*

66
Q

THIS REPRESENTS WHAT TYPE OF FORECASTING?

A

Moving Average FORECASTING

67
Q

THIS REPRESENTS WHAT TYPE OF FORECASTING?

A

Weighted Moving Average FORECASTING

68
Q

2 FORECAST ERROR BIASES

A
  1. POSITIVE BIAS
  2. NEGATIVE BIAS
69
Q

POSITIVE FORECAST BIAS DEFINITION

A

Positive RSFE indicates that demand exceeded the forecast over time. Forecasts with positive bias will eventually cause stockouts

70
Q

NEGATIVE FORECAST BIAS DEFINITION

A

Negative RSFE indicates that demand was less than the forecast over time. Forecasts with negative bias will eventually cause excessive inventory.

71
Q

FORMULA FOR ___?

A

FORECAST ERROR

72
Q

FORMULA FOR ___?

A

RUNNING SUM OF FORECAST ERROR

73
Q

MEAN ABSOLUTE % ERROR FORMULA

A
74
Q

RSFE STANDS FOR

A

RUNNING SUM OF FORECAST ERRORS

75
Q

CPFR STANDS FOR

A

Collaborative Planning,
Forecasting, and Replenishment

76
Q

S&OP STANDS FOR

A

SALES AND OPERATIONS PLANNING

77
Q

S&OP DEFINITION

A

INTEGRATING MARKETING PLANS FOR PRODUCTS WITH MANAGEMENT OF SUPPLY CHAIN

78
Q

S&OP TOP DOWN PLANNING DEFINITION

A

S&OP in which a single, aggregated sales forecast drives the planning process

79
Q

S&OP Bottom-up planning DEFINITION

A

An approach to S&OP that is used in which forecasts for each set of products or services combine to drive the planning process

80
Q

Planning values DEFINITION

A

Values that decision makers use to translate a sales forecast into resource requirements and to determine the feasibility and costs of alternative sales and operations plans

81
Q

S&OP Level production plan DEFINITION

A

A S&OP plan in which production is held constant and inventory is used to absorb differences between production and the sales forecast

82
Q

S&OP Chase production plan DEFINITION

A

A S&OP plan in which production is changed in each time period to match the sales forecast

83
Q

S&OP Mixed production plan DEFINITION

A

A S&OP plan that varies both production and inventory levels in an effort to develop the most effective plan

84
Q

S&OP Rolling planning horizon DEFINITION

A

A planning approach

in which an organization updates its sales and

operations plan regularly, such as on a monthly

or quarterly basis

85
Q

Yield management DEFINITION

A

An approach that services commonly use with highly perishable “products” in which prices are regularly adjusted to maximize total profit

86
Q

Tiered workforce DEFINITION

A

A strategy used to vary workforce levels, in which additional full-time or part-time employees are hired during peak demand periods, while a smaller permanent staff is maintained year-round

87
Q

Offloading DEFINITION

A

A strategy for reducing and smoothing out workforce requirements that involves having customers perform part of the work themselves

88
Q

__________ tracks the average size of the errors, regardless of direction.

A

mean absolute deviation (MAD)

89
Q

MFE MEASURES ___?

A

the bias of a forecast model, or the propensity of a model to under- or overforecast

90
Q

Causal Models DO WHAT?

A

demand is predicted by observing environmental factors such as economic indicators

91
Q

MAD STANDS FOR

A

MEAN ABSOLUTE DEVIATION

92
Q

MSE STANDS FOR

A

MEAN SQUARED ERROR

93
Q

MAPE STANDS FOR

A

mean absolute percentage error

94
Q

DETAILED PLANNING AND CONTROL DEFINITION

A

planning that covers time periods ranging from weeks down to just a few hours out

95
Q

3 PHASES OF S&OP

A

SCM 3301 (3 decks)

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