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SCM > SCM QUIZ > Flashcards

SCM QUIZ Flashcards

1
Q

____is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of the material into intermediate and finished products, distribution of these finished products to customers.

A

supply chain

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2
Q

The network of individuals, companies,
resources, activities, and technologies
used to make and sell a product or
service.

A

SUPPLY CHAIN

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3
Q

centralized management of the flow of
goods and services and includes all processes
that transform raw materials into final products.

A

SUPPLY CHAIN MANAGEMENT

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4
Q

proper SCM can increase revenues, decrease
costs, deliver products to consumer faster, and
impact a company’s bottom line.

A

SUPPLY CHAIN MANAGEMENT

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5
Q

organizations that make products or
services. Service providers are producers of services, and manufacturers are producers of
products. Some producers are also consumers or customers of products made by other
producers.

A

Producers

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6
Q

organizations that make products or
services. Service providers are producers of services, and manufacturers are producers of
products. Some producers are also consumers or customers of products made by other
producers.

A

Producers

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7
Q

Give the participants of Supply Chain

A

Producers
Distributors
Retailers
Customers

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8
Q

are companies that take inventory in bulk from producers and
deliver a bundle of related product lines to customers. Distributors buffer the producers from
fluctuations in product demand by stocking inventory purchased from producers and doing
much of the sales work to find and service customer needs.

A

Distributors

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9
Q

A customer may be an organization (a producer or distributor) that purchases a
product in order to incorporate it into another product that they in turn sell to their
customers (ultimate customers).

A

Customers

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10
Q

They
advertise to their customers and use combinations of price, product selection, service, and
convenience as their primary draw to attract customers.

A

Retailers

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11
Q

6 components in Supply Chain Management system

A

Planning
Sourcing
Making
Delivering
Returning
Enabling

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12
Q

designing the supply chain intentionally, determining how the organization will measure the supply chain

A

Planning

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13
Q

Selecting suppliers who will provide the goods, raw materials, or services creating the contracts that govern the suppliers, managing and monitoring existing relationships.

A

Sourcing

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14
Q

reviewing and accepting raw materials, manufacturing the product, quality testing and packaging.

A

Making

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15
Q

Coordinating the orders, scheduling delivery, dispatching, invoicing, receiving payments.

A

Delivering

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16
Q

Supply chain managers also need to develop a network that supports returning products. In some cases, this may include scrapping or re-producing a defective product; returning a product to the warehouse

A

Returning

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17
Q

Support processes to monitor information throughout the supply chain assure compliance with all regulations include finance, HR, IT, facilities, portfolio management, product design, sales, and quality assurance.

A

Enabling

18
Q

Give the key SCM Processes

A
  1. Customer Relationship Management
  2. Supplier Relationship Management
  3. Customer Service Management
  4. Demand Management
  5. Order Fulfillment
  6. Manufacturing Flow Management
  7. Product Development and Commercialization
  8. Returns Management
19
Q

Defines how a company interacts with its suppliers. As in the case of customer relationship management, a company will form close relationships with some of its suppliers, while others are less closely
cultivated.

A

Supplier Relationship Management

20
Q

Creates a structure for developing and maintaining relationships with customers. Individual customers or groups are identified, based on their value over time, and their loyalty can be enhanced by providing tailored
products and services.

A

Customer Relationship Management

21
Q

Operates at the customer interface. It provides the key point of contact for
administering the PSA and can give the customer information on orders,
shipping dates and product availability.

A

Customer Service Management

22
Q

is the process of forecasting demand to make
sure products can be reliably delivered. Effective demand planning can improve the accuracy of revenue forecasts, align inventory levels with peaks and troughs in demand, and enhance profitability for a particular channel or product.

A

Demand planning

23
Q

a systematic approach to planning, buying,
and selling merchandise to maximize the return on investment (ROI)
while simultaneously making merchandise available at the places,
times, prices, and quantities that the market demands.

A

Merchandise planning

24
Q

is a marketing technique to increase
demand for products in retail stores based on special pricing, display
fixtures, demonstrations, value-added bonuses, no-obligation gifts,
and other promotions.

A

Trade promotion planning

25
Q

Allows a company to be proactive in matching supply to demand. The process includes forecasting and synchronization of supply and demand, in order to increase flexibility and reduce demand variability. The process should employ customer intelligence, historical sales information and planned marketing efforts to forecast and influence demand.

A

Demand Management

26
Q

Process involves more than just filling orders. It includes all activities necessary to define customer requirement and to design a process that allows a company to meet customer requests, while minimizing the total delivered cost. This is not just the logistics function,

A

Order Fulfilment

27
Q

Includes all the activities necessary to move goods through production and to obtain, implement and manage manufacturing flexibility in the supply chain.
Manufacturing flexibility reflects the ability to make a wide variety of products at an appropriate rate and at lowest possible cost.

A

Manufacturing Flow Management

28
Q

SCM process by which activities associated with product returns, reverse logistics, gatekeeping, and avoidance are managed within the firm and across key members of the supply chain.

A

Returns Management

29
Q

Provides the structure for developing and bringing products to market in unison with customers and suppliers. The product development and commercialization process team must coordinate with customer relationship management to identify customer articulated and unarticulated needs;

A

Product Development and Commercialization

30
Q

Benefits of supply chain management

A
  • better ability to predict and meet customer demand

-better supply chain visibility, risk management and predictive capabilities

-fewer process inefficiencies and less product waste

  • improvements in quality

-increased sustainability, both from a societal and an environmental standpoint

  • lower overhead
  • improvements in cash flow; and

-more efficient logistics.

31
Q

SCM Entities

A
  1. Products
  2. Facilities
  3. Vehicles
  4. Routes
32
Q

It is when using ERP systems and spreadsheets for planning, companies typically rely only on historical data, resulting in little wiggle room for changes should any disruptions occur in demand or supply.

A

Make the move to real-time supply chain planning

33
Q

Connecting traditionally siloed supply chain planning to sales and operations planning and financial planning. Companies can benefit from synchronizing their short-term operational planning with their wider business planning processes to make real-time updates to
inventory forecasts and supply.

A

Unify supply chain planning with enterprise planning

34
Q

Anticipating what customers want and when they want it is an ongoing challenge.

A

Anticipate the demand of the end customer

35
Q

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become
large and potentially unwieldy—especially when spreadsheets are the
primary planning tools.

A

Leverage real-time data across all points of the supply chain

35
Q

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become
large and potentially unwieldy—especially when spreadsheets are the
primary planning tools.

A

Leverage real-time data across all points of the supply chain

35
Q

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become
large and potentially unwieldy—especially when spreadsheets are the
primary planning tools.

A

Leverage real-time data across all points of the supply chain

36
Q

Things in demand at various facilities

A

Products

37
Q

places where
products are made, stored,
sold or consumed

A

Facilities

38
Q

paths taken by
vehicles to move products
between facilities

A

Routes

39
Q

mechanisms to move products between
facilities to meet demand

A
40
Q

mechanisms to move products between
facilities to meet demand

A

Vehicles

SCM (2 decks)

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