Final Study - 7&8

Question 1

supply chain

Answer 1

a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer

Question 2

Supply chain management (SCM)

Answer 2

the oversight of materials, information, and finances
as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.

• Supply chain management involves coordinating and integrating these flows both within and among companies.

Question 3

What is Supply Chain Risk Management?

Answer 3

The implementation of strategies to manage everyday and exceptional risks along the supply chain through continuous risk assessment with the objective of reducing vulnerability and ensuring continuity

Question 4

The management of supply chain risks through coordination or collaboration among the supply chain partners ensures …

Answer 4

profitability and continuity

Question 5

Global supply chain risk management

Answer 5

the identification and evaluation of risks and consequent losses in the global supply chain, and implementation of appropriate strategies

Question 6

A Five Step Process for Global Supply Chain Risk Management and Mitigation

Answer 6

1. Risk Identification
2. Risk Assessment and Evaluation
3. Selection of Appropriate Risk Management
4. Implementation of Supply Chain Risk Management Strategy(s)
5. Mitigation of Supply Chain Risks

Question 7

A Five Step Process for Global Supply Chain Risk Management and Mitigation is similar to …

Answer 7

the frameworks for managing operational risks in general

Question 8

Typical Supply Chain Risks

Answer 8

• supply risks
• demand risks
• macro risks
• policy risks

Question 9

High Level categorization of Risk sources

Answer 9

i. internal to the firm,
ii. external to the firm but internal to the supply chain
iii. external to the supply chain.

Question 10

Strategic Supply Chain Risk

Answer 10

Affects long-term objectives
- Leads to loss of market share

Question 11

Operational Supply Chain Risk

Answer 11

Involves short-term tactical decisions
- Loss of short term sales due to a labor strike at a supplier’s factory or at a port

Question 12

Types of Supply Chain Risks

Answer 12

• Recurrent/Continuous Risks (Tend to be
  independent)
• Disruptive Risks (Tend to ripple through the supply
  chain)

Question 13

Tools to Manage Supply Chain Risks

Answer 13

• Reduce the Concentration of Resources
• Segment the Supply Chain
• Regionalize the Supply Chain
• Become a Preferred Customer
• Map the Supply Chain

Question 14

Big OEMs have gone too far in delegating …

Answer 14

delegating management of low-tier vendors to top-tier suppliers.

The outcomes:
- Weakens their control of their costs
- Reduces their ability to stay on top of technological developments and shifts in demand

Question 15

The Remedy of Big OEMs have gone too far in delegating

Answer 15

Selectively re-establish direct relationships with lower-tier suppliers

Question 16

Electronics manufacturing services (EMS)

Answer 16

a term used for companies that test, manufacture, distribute, and provide return/repair services for electronic components and assemblies for original equipment manufacturers (OEMs)

Question 17

Five lessons on how to create a blockchain network for improving business processes.

Answer 17

1. Involve key stakeholders
2. Weigh the pros and cons of using a private vs. a public blockchain
3. Agree on the business rules and calculations
4. Build in checks and balances
5. Don’t try to replace legacy IT systems