Module 1

Question 1

Supply Chain Management

Answer 1

“The effective and efficient integration of the suppliers, manufacturers and transportation organizations, as well as the other parties responsible for collectively bringing products and services to market.

Question 2

Procurement

Answer 2

“The branch of the supply chain responsible for acquiring materials, equipment, products and services”

Question 3

Operation

Answer 3

“The branch of the supply chain responsible for making business processes effective and efficient”

Question 4

Logistics.

Answer 4

“The branch of the supply chain responsible for developing the transportation itinerary and finding the appropriate transportation and storage partners to successfully navigate the flow of materials from the point of origin to the final destination”

Question 5

Reverse Logistics.

Answer 5

“The branch of the supply chain responsible for the movement of products and packaging that flow backward in the supply chain”

Question 6

Global Supply Chain Management.

Answer 6

“When suppliers, manufacturers, transportation companies, warehouse and distribution centers, retailers and other supply chain partners span across multiple countries and/or continents, those are considered global supply chains”

Question 7

1st-Tier Suppliers

Answer 7

“A company’s direct suppliers; typically, a firm that directly provides goods and/or services to a company.
”

Question 8

2nd-Tier Suppliers

Answer 8

“A firm that provides goods and/or services to a company’s first-tier supplier.
”

Question 9

Downstream Supply Chain

Answer 9

“In a supply chain, the direction that points toward the end consumer.
”

Question 10

Upstream Supply chain

Answer 10

“In a supply chain, the direction that points toward the suppliers.
”

Question 11

SCM Flows

Answer 11

In order for supply chains to function and develop, three things must continuously flow:materials, money and information

Question 12

Business Model

Answer 12

A company’s plan for how it will purchase items, transform the, deliver them and sell them in an effort to produce a profit.

Question 13

Business Model- Basic Types

Answer 13

purchase and delivery.

Question 14

inventory Visibility (Supply Chain Visibility)

Answer 14

The ability to see what is happening with inventory upstream and downstream in supply chain.

Question 15

Profit

Answer 15

profit= Revenue- Cost

Question 16

ROI (Return on Investment)

Answer 16

An economic measure that helps evaluate the return of an investment. In its most simple form, an ROI is a ratio of total profit to total investment.

Question 17

Competitive

Answer 17

“Companies, and supply chains more specifically, are very often competing in four areas stated above. As a result, tracking performance in cost, quality, speed and flexibility is vital to knowing whether the company is meeting its goals in the present and working toward better performance in the future.
”

Question 18

Core Competencies .

Answer 18

The primary advantage a company has over its competitors. A core competency would be difficult, if not impossible, to replicate.

Question 19

Value

Answer 19

Value is the ratio of “output purchased “ divided by “inputs used to purchase’ the product or service. Customers seek value .Value can be increased by giving the customer more for the same price or by giving them the same amount at a lower price.

Question 20

productivity

Answer 20

The ratio of outputs to input. From a manufacturing perspective, companies seek to maximize the amount of outputs that can be produced and delivered to market, while minimizing the required inputs.

Question 21

Primary Supply Chain Goals

Answer 21

“Effectiveness, efficiency and adaptability – The ultimate goal of supply chain management is to make high quality products and services in a timely fashion that meet the changing needs of the customer and do so in a way that utilizes as few resources as possible.
”

Question 22

even Types of Waste.

Answer 22

seven types of waste that threaten supply chain performance are: defects, overproduction,transportatio, motion, waiting inventory and over-processing.

Question 23

Keys to Being a Successful Supply Chain Manager.

Answer 23

A) Satisfy needs of the customer.
B) Satisfy the needs of the company.
C) Be prepared for the future.

Question 24

Supply Chain Strategy.

Answer 24

A) Understanding the product/service and the market’s desires.
B) Develop a business model.
C) Organizing the right group of supply chain partners.

Question 25

Supply Chain Tools.

Answer 25

A) Supply Chain Metrics.
B) Information Technology Tools.
C)Relationship Management Skills.
D)Financial Resources.
E) Organization Integration.

Question 26

Inventory

Answer 26

The items that are owned by a company for the purpose of present or future sale or for use in day-to-day opertation.

Question 27

Lead Time

Answer 27

The period of time between when an order is placed and when the order is received by the customer.

Question 28

Lot Size

Answer 28

An accepted order size. this something also refers to a possible order size increment. Example: Lot size of 100 units. Ordering 100,200, 300. would be possible order size.

Question 29

Stock Keeping Unit (SKU)

Answer 29

A specific product or service’s identification code used to track inventory or catalog sales.