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SCM 300 > MIDTERM EXAM II > Flashcards

MIDTERM EXAM II Flashcards

1
Q

vendor

A

a supplier

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2
Q

wholesaler

A

purchase goods in large amounts and at discounted prices

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3
Q

dropshipper

A

a company that takes customer orders

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4
Q

franchise

A

owns the rights to a company and the name

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5
Q

last mile

A

between final inventory holding facility and end consumer

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6
Q

planogram

A

a map of where every product goes on a retail store shelf

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7
Q

vendor managed inventory (VMI)

A

vendors monitor inventory

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8
Q

scan-based trading

A

inventory on retail store shelf is owned by supplier

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9
Q

omni-channel retailing

A

unified shopping experience across platforms

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10
Q

chargebacks

A

retailer fees for supplier failures

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11
Q

the goal of waiting line management

A

balancing customer time and company costs

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12
Q

3 parts of a waiting line system

A

input source, waiting line, service facility

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13
Q

input source

A

might want service

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14
Q

waiting line

A

wait for service

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15
Q

service facility

A

receive service

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16
Q

managerial considerations in a waiting line system

A

customers, waiting lines, employees, service facilities

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17
Q

queue

A

line

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18
Q

channel

A

line availability at each step

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19
Q

phase

A

a single step in a process

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20
Q

infinite population of customers

A

high or unlimited customer potential

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21
Q

finite population of customers

A

limited customer capacity

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22
Q

balking

A

customers discouraged by long lines

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23
Q

reneging

A

customers frustration leads to line abandonment

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24
Q

jockeying (line jumping)

A

customers switch lines for efficiency

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25
Q

arrival rate

A

lambda; number of customers arriving per unit of time

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26
Q

service rate

A

mu; number of customers that will be served per unit of time

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27
Q

percentage of time server is busy

A

rho; service utilization factor

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28
Q

average number of customers in line

A

n(l)

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29
Q

average amount of time a customer waits in line

A

t(l)

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30
Q

average number of customers in the system

A

n(s)

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31
Q

average amount of time a customer spends in the system

A

t(s)

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32
Q

probability there are “N” customers in the system

A

P(N)

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33
Q

probability the system is empty

A

P(0)

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34
Q

multiple server queuing models

A
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35
Q

supply chain integration

A

supply chain partners collaboration and coordinated

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36
Q

obstacles to integration

A

poor communication, unwillingness to share, and lack of trust

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37
Q

push system

A

inventory is “pushed” toward the consumer in anticipation of consumer demand

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38
Q

push system characteristics

A
  • effective in stable high-demand scenarios
  • customers expect immediate availability
  • companies leverage quantity discount opportunities
  • ideal for standardized, non-customized items
  • susceptible to inventory obsolescence
  • slow-selling items to high holding costs
  • inaccurate forecasts lead to stockout or overstock
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39
Q

pull system

A

a system that is activated by consumer demand

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40
Q

pull system characteristics

A
  • requires ready access to high raw materials inventory
  • capable of producing customizable items
  • vulnerable to sudden increases in demand
  • inaccurate forecasts can disrupt production planning
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41
Q

costs of miscalculations

A
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42
Q

postponement

A

hybrid system blending push-pull elements

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43
Q

bullwhip effect

A

inventory grows upstream with stability

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44
Q

supply chain goal trade-offs

A

cost, quality, speed, and flexibility

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45
Q

causes of the bullwhip effect

A

order batching, forward buying, rationing, short gaming

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46
Q

order batching

A

infrequent large orders from suppliers

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47
Q

forward buying

A

customer purchases exceed immediate need; result of sales

48
Q

rationing

A

partial inventory sent to customers

49
Q

short gaming

A

customers order more than needed

50
Q

lead time gaming example from lecture

A

padding the time for lateness; medical team example

51
Q

5 methods for controlling the bullwhip effect

A

everyday low pricing (EDLP), VMI, information sharing, improve buyer-supplier relationships, practice lean manufacturing

52
Q

everyday low pricing (EDLP)

A

steady low prices discourage bulk-buying

53
Q

VMI

A

buyer-supplier inventory information sharing

54
Q

information sharing

A

real-time supply chain visibility enables comprehensive track

55
Q

improve buyer-supplier relationships

A

partnerships share supply chain duties

56
Q

rocks and water analogy

A

rock represents supply chain weakness; water represents inventory

57
Q

lean manufacturing

A

efficient, waste-minimizing production philosophy

58
Q

quality at the source

A

employee-driven quality management culture

59
Q

poka-yoke

A

error-prevention techniques in manufacturing

60
Q

profit motivations

A

both revenue and cost opportunities

61
Q

global brand strategy

A

global supply variation adaptation

62
Q

outside operations and manufacturing partners (benefits)

A

speed, expertise, resource utilization, focus on core competencies

63
Q

outside operations and manufacturing partners (risks)

A

quality control, intellectual property, business practices, loss of strategic flexibility

64
Q

insourcing

A

local and same company

65
Q

outsourcing

A

local and outside company

66
Q

offshoring

A

abroad and same company

67
Q

offshoring and outsourcing

A

abroad and outside company

68
Q

near-sourcing

A

closer production to consumer location

69
Q

contract manufacturers

A

outsourced production for another organization

70
Q

electrical manufacturing services (EMS)

A

outsourced electronic good production industry

71
Q

infrastructure

A

equipment and structures for logistics

72
Q

longshoreman

A

a person that works at an ocean port

73
Q

shipping ports

A

Long Beach and LA; Shanghai and Singapore

74
Q

cargo shipping ports

A

Memphis, Alaska; Louisville (UPS)

75
Q

port strategies

A

shipping alternatives: mexican ports

76
Q

port operations

A

problems: US port to US port; jones act

77
Q

jones act

A

regulates maritime commerce in the US; transported by US citizens only

78
Q

customs and regulations considerations

A

customs agencies oversee trade compliance

79
Q

customs-trade partnership against terrorism

A

US customs’ import security initative

80
Q

third-party logistics company

A

logistics service provider aiding efficiency; intermediary in item movement

81
Q

freight forward

A

logistics coordinator arranges shipments effectively

82
Q

custom house broker

A

customs clearance agents for efforts

83
Q

free trade zone (FTZ)

A

logistics coordinator arranges shipments effectively

84
Q

duty drawbacks

A

utilized when an item is imported and then re-exported

85
Q

bonded warehouse

A

tariff-liable goods storage facility; up to 5 years

86
Q

purpose of logistics documentation

A

transportation, financial, international shipments

87
Q

transportation documentation

A

profit that cargo was received

88
Q

financial documentation

A

goods received as per agreement, funds released

89
Q

international shipment documentation

A

legal compliance verification, duty assessment

90
Q

common logistics shipping documentation

A

bill of lading, packing list, commercial invoice, certificate of origin

91
Q

bill of lading

A

shipper-carrier contract, receipt, ownership certificate

92
Q

packing list

A

comprehensive shipment description document

93
Q

commercial invoice

A

detailing shipment contents, parties, values

94
Q

certificate of origin

A

confirming manufacturing country

95
Q

performance metric

A

single measurement to evaluate performance

96
Q

system of metrics

A

composite metrics for comprehensive evaluation

97
Q

value of performance metrics

A
  • good and bad
  • unbiased system
  • motivated good behavior
  • manage from afar
  • managing resources
  • points to corrective action
  • identify trends
98
Q

common measurement pitfalls

A
  • managers fail to use the data
  • blind belief in institutional metrics
  • measuring selectively
  • utilizing too many metrics
99
Q

managerial paralysis (analysis paralysis)

A

inundated with the overflow of data

100
Q

key performance indicators (KPIs)

A

essential individual metrics for organization goals

101
Q

KPI drill down

A

analyzing specific KPI details deeply

102
Q

attributes of good metric

A
  • measurable
  • easily understood
  • attainable
  • strategically oriented
  • easy to measure
  • corrective actions
  • cheater proof
103
Q

consequences of poor metrics

A
  • supply chain goals are not met
  • poor output and bad decisions
  • waste
  • undesirable employee behaviors
  • employee victimization
  • decay in corporate culture
104
Q

measurement system: three key attributes

A

effective, efficiency, and adaptability

105
Q

supply chain operations reference (SCOR) model

A

a measurement tool; plan, source, make, deliver, return

106
Q

supply chain analytics

A
  • descriptive, diagnostic, predictive, prescriptive
  • internet of things (IoT), supply chain optimization, cognitive analytics, supply chain modeling
107
Q

supply chain mapping

A

comprehensive supply chain partner documentation

108
Q

descriptive analytics

A

report past and/or present results of supply chain

109
Q

diagnostic analytics

A

an attempt to explain why recent results may have occured

110
Q

predictive analytics

A

forecasts probabilities for different supply chain outcomes

111
Q

prescriptive analytics

A

provides recommendations for supply chain frameworks

112
Q

internet of things (IoT)

A

interconnected network of physical objects

113
Q

supply chain optimization

A

advanced analytics for inventory management

114
Q

cognitive supply chain

A

high-speed, integrated supply chain management

115
Q

supply chain modeling

A

supply chain process simulations for strategy testing

SCM 300 (1 decks)

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