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supply chain Flashcards

1
Q

what are outcomes of the global environment?

A
  • rise in business velocity and clock speed
  • growth through mergers and acquisitions
  • shorter product life cycle
  • move toward automation and e-business
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2
Q

Why are supply chains important?

A
  • creating visibility and efficiency
  • managing supply chain relations
  • avoiding disruption
  • mitigating risks
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3
Q

What are the 4 R’s of Supply Chain Management?

A
  1. responsiveness
  2. reliability
  3. resilience
  4. relationships
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4
Q

What is competitive advantage creation?

A

firm’s supply chain should deliver the product that customers want when they want it AND cost effectively

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5
Q

What are the aspects of competitive advantage creation?

A
  1. customer demand and wants
  2. product delivery, costs and design
  3. production (how, where, outsourcing)
  4. procurement and supplier selection
  5. input sourcing
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6
Q

What is a service leader?

A

high value advantage, low cost advantage

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7
Q

what is a commodity market?

A

low value advantage, low cost advantage

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8
Q

what is a cost and service leader?

A

high cost advantage, high value advantage

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9
Q

what is a cost leader?

A

high cost advantage. low value advantage

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10
Q

what is the logistics and competitive strategy?

A

deliver superior customer value at less cost

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11
Q

what are 3 aspects of differentiation?

A
  • tailored services
  • reliability
  • responsiveness
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12
Q

what are 3 aspects of less cost?

A
  • capability utilization
  • asset turn
  • synchronous supply
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13
Q

what are some key variables in supply chain networks?

A
  • capacity
  • procurement
  • inventory
  • production
  • routing
  • transportation modes
  • number of commodities and markets
  • international factors
  • financial factors
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14
Q

what are some areas for supply chain improvements?

A
  • holistic perspective on SCM that transcends organizational boundaries
  • managing integration and coordination across boundaries
  • addressing weaknesses
  • supplier selection and procurement strategy
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15
Q

what are some conflicting goals in the supply chain?

A 
lot size v inventory cost
inventory v transportation cost
lead time v transportation cost
product variety (SKUs) v inventory cost
cost v customer service
agility v responsiveness
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16
Q

what are symptoms of supply chain problems?

A 
stock-outs and high inventory
long cycle times
high product returns
high costs
poor service level
lack of strategic procurement
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17
Q

Why is logistics and customer service a key component of any marketing strategy?

A
  1. the continual increase in customer expectations

2. trend towards commoditization

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18
Q

what are TOC life cycle costs

A 
acquisition cost
management cost
maintenance cost
operating cost
inventory cost
technical support cost
training cost
disposal cost
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19
Q

what are the 3 elements of total cost of ownership

A

pre-transaction costs
transaction costs
post-transaction cost

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20
Q

what are pre-transaction costs

A

need recognition
need description
sourcing
supplier selection

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21
Q

what are transaction costs

A

ordering monitoring
receipt and inspection
payment
documentation

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22
Q

what are post transaction costs

A 
relationship cost with the supplier
maintenance cost
repair costs
lost production cost
customer goodwill costs
decommissioning and disposal costs
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23
Q

What are pre-transaction components

A 
identifying need
investigating sources
qualifying sources
adding supplier to internal systems
educating supplier in firms operations and vice versa
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24
Q

what are transaction components

A 
price
order placement/preparation
delivery/transportation
tariffs/duties
billing/payment
inspection
return of parts
follow up and correction
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25
Q

what are post-transaction components

A 
line fallout
defective finished goods rejected before sale
field failures
repair/replacement in field 
customer goodwill/reputation of firm
cost of repair parts
cost of maintenance and repairs
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26
Q

what are the strategic uses of total of ownership

A

performance measure
decision making
communication

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27
Q

what is the equation of customer value

A

quality x service / cost x time

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28
Q

What is marketing effectiveness?

A

consumer franchise x customer franchise x supply chain efficiency

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29
Q

what is the consumer franchise?

A

brand values, corporate image, availability

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30
Q

what is the customer franchise

A

customer service, partnership, quick response

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31
Q

what is the supply chain efficiency

A

flexibility, reduced asset base, low cost supplier

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32
Q

what is marketing effectiveness comprised of?

A

market share, customer retention, superior ROI

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33
Q

What is the four parts of market driven supply chain?`

A
  1. identify value segments
  2. define the value proposition
  3. identify the market winners
  4. develop the supply chain strategy
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34
Q

what is the perfect order achievement?

A

on time x in full x error free

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35
Q

What are metrics for supply chain performance?

A 
order accuracy
fill rate
defect rate
on time delivery
lead time
return rate
accounts receivables
cost effectiveness
inventory turns
supply chain responsiveness
supply chain partnerships
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36
Q

what is pareto law

A

80% of profits come from 20% of customers and 80% of total costs will be generated by 20% of customers

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37
Q

what is the push orientation

A

movements of products and materials toward the final market are initiated or pushed by the manufacturer

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38
Q

what is the pull orientation

A

supply chain decisions are initiated or pulled by customers

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39
Q

what are categories of push-pull strategies

A
  1. make to stock – totally push
  2. assemble to order – partially built
  3. make to order – products only built upon receipt of orders
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40
Q

what is the importance of demand penetration point?

A
  1. key uncertainty management variable
  2. where it happens would:
    - influence production strategy and product specifications
    - determine volume and degree of completion of finished goods or WIP inventory
    - influence production, operations, and delivery lead time
    - feasibility or type of postponement
  3. multiple de-coupling points for different SKUs exacerbate supply chain complexity and inventory risks
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41
Q

what is the production strategy for low inventory volume, high inventory turn?

A

integrated supply chain with JIT inventory

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42
Q

what is the production strategy for high inventory volume, low inventory turn

A

products with long lead time with suppliers

43
Q

what is the production strategy for high inventory volume, high inventory turn

A

high spoilage, short shelf life, and perishable products such as fresh or frozen food industry

44
Q

what do we known about demand forecasting techniques

A

forecasting is always wrong
the longer the forecast horizon., the worst is the forecast
aggregate forecasts are more accurate

45
Q

what are the two types of postponement?

A
  1. form postponement –> keep the products as long as possible in a standard condition
  2. time postponement –> execute all activities in the supply chain as close as possible to the customer order
46
Q

what are characteristics of functional products?

A 
low product variety
high forecast accuracy
long product life cycle
low risk or obsolescence
low cost of lost sale
47
Q

what are characteristics of innovative products?

A 
high product variety
low forecast accuracy
short product life cycle
high risk of obsolescence
high cost of lost sale
48
Q

what are physically efficient supply chain strategies?

A 
high utilization
high turnover
low cost trumps short lead-time
low cost suppliers
product design strategy integral for max performance at minimum cost
49
Q

what are market responsive supply chain strategies?

A

maintain buffer capacity
significant buffer stocks of components and finished goods
aggressively shorten lead time
speed and flexibility
product design strategy modular to enable postponed differentiation

50
Q

What causes variability and uncertainty in the supply chain management environment?

A 
product obsolescence
changes in input prices
macroeconomic changes
entry of new rivals
introduction of new products
changes in consumer tastes
international politics and pandemic
disruptive technological change
51
Q

what are three basic flows in SCM?

A

order - from customer to supplier
shipment - from supplier to customer
payment - from customer to supplier

52
Q

complexity increases with the number of suppliers in the following areas:

A

order generation for suppliers
coordination between production and shipments of supplies
consolidation of shipments
transportation management
financial transaction ie invoicing and pyaments
documentation

53
Q

reasons for bullwhip

A

demand forecasting updating - updating forecasts
order batching - members rounding up or down
price fluctuations - larger quantities discounts
rationing and gaming - buyers/sellers delivering over or under

54
Q

how to cope with the bullwhip effect

A 
reduce uncertainty - share supply chain info
reduce variability
reduce lead times
alliance arrangements
better forecasting
55
Q

how to close the lead-time gap?

A
  1. demand visibility or reduced lead time

2. shorten the distance - real or informational

56
Q

what drives responsiveness?

A

visibility - forecasting demand better

velocity - responding more rapidly to demand

57
Q

what is vendor managed inventory (VMI)

A

supplier rather than the customer manages the flow of product into the customer’s operations

58
Q

what are some characteristics of the global apparel industry

A
  • brand marketers and brand manufacturers
    -significant variations in customer preferences
    -push strategy
    -two major collections a year, most items sold at discounted prices
    wide assortment of garments and accessories
    long order delivery cycle time
    buyer driven supply chains
    trading companies are used as cross border intermediaries
    fragmented, global production
59
Q

what are supply chain challenges in apparel industry?

A
  • long order cycle time and large number of SKUs
  • fragmented production and difficulty in supplier integration
  • transportation and logistics efficiency depends on volume
  • difficulty in achieving accuracy in demand forecast
  • lumpy sale activities and cash flows
  • high risk/costs due to long cycle time and supply chain, limited coordination and forecast difficulty
60
Q

what are the two levels of make-buy decision considerations?

A

strategic level - compatibility with firm’s core competencies, supplier dependance
tactical level - total cost of ownership, production capability, quality requirement

61
Q

what are the reasons for buying?

A

desire to be seen as lean organization
unexpected sales which increases volume
quantities are too small
own cost structures are too high

62
Q

what are the arguments for buying?

A
  • allows for greater integration of plants
  • potential suppliers are unreliable
  • avoid shortages due to anticipated shortages in the future
  • desire to maintain costs and intellectual properties
  • unreliable supply chain
63
Q

level of outsourcing?

A

transactional outsourcing
tactical outsourcing
strategic outsourcing

64
Q

what is transactional outsourcing?

A

transactions, no long term contracts, no bonding

65
Q

what is tactical outsourcing?

A

long term basis, negotiated contracts, integrated IT systems to facilitate information flow

66
Q

what is strategic outsourcing?

A

long term relationships, successful outcomes, partners in SCM, establish transactional transparency

67
Q

What is the SCOR model?

A

describes the business activities associated with all phases of satisfying a customer’s demand

68
Q

what are the five processes of the SCOR model

A 
plan
source
make
deliver
return
69
Q

what is the process reference model?

A

integrates the concepts of business process reengineering, benchmarking and process measurement

70
Q

What are the 5 management processes of SCOR

A 
building block approach
processes
metrics
best practice
technology
71
Q

What does SCOR span?

A

all supplier/customer interactions
all physical material transactions
all market interactions
return

72
Q

What does SCOR not include:

A

sales administration processes
technology development processes
product and process design and development processes
some post-delivery technical support processes

73
Q

What does SCOR assume but not explicitly address

A

training
quality
IT administration

74
Q

What is the SCOR project roadmap?

A

level 1: analyze basis of competition
level 2: configure supply chain
level 3: align performance levels, practices and systems
level 4: implement supply chain processes and systems

75
Q

What are the performance attributes of SCOR:

A 
reliability
responsiveness
agility
costs
asset management efficiency
76
Q

what are the three types of benchmarking

A

performance benchmarking - comparison of performance measures
process benchmarking - comparison of methods and practices
strategic benchmarking - comparison of the strategic choices

77
Q

Who can you benchmark against?

A
  1. internal benchmarking - departments, units, within same org
  2. competitor benchmarking - against competitors
  3. functional benchmarking - non competitor orgs (ie customer, supplier) within same industry
  4. generic benchmarking - best processes around
78
Q

how do you measure risk?

A

probability of occurrence x expected value of the outcome

79
Q

what are the five categories of risk?

A
  1. supply risk
  2. demand risk
  3. process risk
  4. control risk
  5. environmental risk
80
Q

what are the three different sources of supply chain risks

A

environmental (external)
network (external)
organizational (internal)

81
Q

six steps in managing risk profile

A
  1. identify and prioritize earnings drivers
  2. identify critical infrastructure
  3. locate vulnerabilities
  4. model scenarios
  5. develop responses
  6. monitor the risk environment
82
Q

what is the supply chain risk management process?

A
  1. understand the supply chain
  2. improve the supply chain
  3. identify critical paths
  4. manage critical paths
  5. improve network visibility
  6. establish supply chain continuity team
  7. work with suppliers and customers to improve supply chain risk management procedures
83
Q

when to pool resources for risk mitgation?

A

high cost of risk mitigating

84
Q

when to decentralize resources for risk mitigation?

A

low cost of risk mitigating

85
Q

when to reduce costs for risk mitigation?

A

low level of risk

86
Q

when to mitigate risk for risk mitigation?

A

high level or risk

87
Q

how do you mitigate the risk for disruptions?

A

add inventory, have redundant suppliers

88
Q

how do you mitigate the risk for delays?

A

add capacity, add inventory, increase responsiveness, increase flexibility, increase capability

89
Q

how do you mitigate the risk for forecast risk?

A

increase responsiveness, aggregate or pool demand

90
Q

how do you mitigate the risk for procurement risk?

A

add capacity, add inventory, have redundant suppliers, increase flexibility

91
Q

how do you mitigate the risk for receivables risk?

A

have more customer accounts

92
Q

how do you mitigate the risk for capacity risk?

A

add inventory, increase flexibility, aggregate demand, have less redundant suppliers, remove capacity

93
Q

how do you mitigate the risk for inventory risk?

A

add capacity, have redundant suppliers, increase responsiveness, increase flexibility, aggregate or pool demand, increase capability, remove inventory

94
Q

what are characteristics of critical paths?

A

long lead time
single source of supply with no short term alternative
dependence on specific infrastructure
high degree of concentration amongst suppliers and customers
bottlenecks or pinch points through which material or product must flow
high levels of identifiable risk

95
Q

what is FMEA

A

failure mode and effect analysis - systematic approach to identifying where in a complex system attention should be focused to reduce risk of failure

96
Q

What three questions does FMEA ask

A

what could go wrong
what effect would this failure have
what are the key causes of this failure

97
Q

what criteria does FMEA use

A

what is the severity of the effect of failure
how likely is this failure to occur
how likely is the failure to be detected
multiply all 3

98
Q

what factors encourage growth of time sensitive markets

A

shortening life cycles
customers drive for reduced inventories to minimize costs
volatile markets making reliance on forecasts dangerous

99
Q

why cycle time reduction?

A

reduce costs
increase demand visibility
forecast accuracy
reduce inventory level

100
Q

what are the lead time components of the order to delivery cycle?

A 
commercial and planning lead time
materials lead time
assembly lead time
distribution lead time
installation/retail lead time
101
Q

what is the cash to cash cycle

A

cumulative lead time from procurement to payment

102
Q

what are the goals of logistics pipeline management?

A

lower costs
high quality
more flexibility
faster response times

103
Q

how do you calculate efficiency of supply chain

A

= value added time/end to end pipeline time

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