Supply Chain Management Flashcards
A supply chain is a system of organizations, people, technology,activities, information and resources _____ in _____ a product or service from supplier to customer.
INVOLVED, MOVING
Manufacture quality products at the lowest imaginable controllable cost.
PLANT MANAGEMENT
It focuses on the raw materials supplied to manufacturing, including how, when, and from what location.
SUPPLY
Used products may re-enter the supply chain at any point where residual value is recyclable.
SOPHISTICATED SUPPLY CHAIN SYSTEMS
Decision at this level affect how the product move along the supply chain.
OPERATIONAL
This type of strategy is beneficial to organizations in accounting for company expenditure and improving organizational functions.
COST REDUCTION
Who proposed the Four “P” classification in 1960
McCarthy
What is the formula for Return on Assets Effect (ROA)?
ROA = NET INCOME/TOTAL ASSETS
Flow includes moving goods from supplier to consumer, as well as dealing with customer service needs
PRODUCT
Another word for Supply Management?
PROCUREMENT
It determines the supply chain performance. For each of these, managers must make tradeoffs between efficiency and responsiveness.
SUPPLY CHAIN DRIVERS
This includes moving goods from supplier to consumer, as well as dealing with customer service needs.
PRODUCT FLOW
Decisions are typically updated anywhere between once every quarter and once a year.
TACTICAL
It is a place where everything is stored, manufactured or assembled.
FACILITIES
The financial flow Includes?
PAYMENT SCHEDULES, CREDIT TERMS AND ADDITIONAL ARRANGEMENTS
What does SWOT analysis stand for?
STRENGTH, WEAKNESSES, OPPORTUNITIES, AND THREATS
Define supply management as: the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities.
THE COUNCIL OF SUPPLY CHAIN MANAGEMENT PROFESSIONALS
Is slow and prone to errors due to duplication of data entries during various stages of the purchasing process.
MANUAL PURCHASING SYSTEM
The two-way exchange of information and ideas with the customer through an online interface, which enhances the richness of customer relationship.
INTERACTIVITY
The average amount of inventory used to satisfy demand between receipt of supplier shipments.
CYCLE INVENTORY
Organizational policy and structure in which the authority and responsibility for most supply management related functions and decisions are assigned to individual functions or managers.
Decentralized Purchasing
It is where individual local purchasing departments, such as at plant level, make their own purchasing decisions.
Decentralized Purchasing
Encompasses the planning and management of all activities involved in sourcing and procurement,demand and replenishment and all logistics management activities including costumer service.
SUPPLY MANAGEMENT
It was developed in the 1970’s to improve the purchasing process.
ELECTRONIC DATA INTERCHANGE (EDI)
It shows how many times a firm’s inventory is utilized and replaced over an accounting period, such as year.
INVENTORY TURNOVER
Where individual, local purchasing departments, such as at the plant level, make their own purchasing decisions.
DECENTRALIZED PURCHASING
What are the three (3) levels of supply chain management that different parts of the company will focus on?
STRATEGIC, TACTICAL, OPERATIONAL
Purchase raw materials for convention, services, capital equipment and operating supplies.
INDUSTRIAL BUYERS
It measures the impact of a change in purchase spends on a firm’s profit before taxes, assuming gross sales and other expenses remain unchanged.
PROFIT-LEVERAGE EFFECT
Can be defined as the total profit shared by all the stages and intermediaries of a supply chain.
SUPPLY CHAIN SURPLUS
it involves the gathering of facts, data, observation and trends about the marketplace in which suppliers conduct business.
SUPPLY CHAIN MARKET ANALYSIS
It analyzes the technology used, how the organization is structured, the skill level of the practitioners, and the processes used throughout the cycle.
SPEND MANAGEMENT
It consists of Data and results of analysis regarding inventory, transportation, facilities, customer orders, and funds.
INFORMATION
Give two (2) barriers of supply chain management.
CROSS-FUNCTIONAL CONFLICTS, RESISTANCE TO CHANGE
it is a decision that affect both responsiveness and efficiency of a supply chain, determines what function a firm performs and what functions the firm to procure goods/services from non union suppliers.
SOURCING
A well-defined strategy that entails procuring products and services from an expensive range of international suppliers.
GLOBAL SOURCING
A useful model that identifies three key features of e-business that are enabled through technology, as an extension of the traditional 4P’s Marketing Model.
MARKETSPACE MODEL
It can be defined as the act of obtaining merchandise, capital equipment, raw materials, services, or maintenance repair and order (MRO), supplies in exchange for money or its equivalent.
PURCHASING PROFESSION
the term marketing matrix became popular after _______ published his 1964 article, The Concept of marketing Matrix.
NEIL H. BORDEN
Is the amount of consumers that are willing to pay for what a company provides and it measured by total revenue.
VALUE
Build up to counter predictable seasonal variability in demand.
SEASONAL INVENTORY
Strategic tools used by procurement and supply chain professionals to identify and minimize supply risks
THE KRALJIC MATRIX
It shows how many firms is utilized and replaced over an accounting period, such as year.
INVENTORY TURNOVER EFFECT
All of the communications that a marketer may use in the marketplace, advertising, public relations, personal selling and sales promotion.
PROMOTION
Place where inventory is stored, manufactures and assembled
FACILITIES
Organizational policy and structure in which the authority and responsibility for most supply management staff is all physically located in one place.
CENTRALIZED PURCHASING
