week 1

Question 1

supply chain

Answer 1

• gets products from suppliers to consumers
• movement of products, information and funds

Question 2

direction of supply chain

Answer 2

• forward logistics = supplier to consumer
• reverse logistics = consumer to supplier

Question 3

POS

Answer 3

direction of information goes from consumer to producer

Question 4

movement of money

Answer 4

dominant direction of funds is consumer to producer (consumer pays for product bought)

Question 5

can stages be skipped in the supply chain?

Answer 5

yes
eg: products can be moved straight from supplier to consumer (farmers market)

Question 6

on the flow of products (tiers)

Answer 6

• whatever goes before the focal firm is “upstream”
• whatever goes after the focal firm is “downstream”
• the closer you are to the focal firm, the lower the tier, the father you are from the focal firm, the higher the tier

Question 7

coordination

Answer 7

• coordinate movement of goods and funds through the supply chain
• involves the movement of funds through supply chain

Question 8

information sharing

Answer 8

requires sharing relevant information among members of the supply chain

eg POS data, planned promotional campaigns, inventory levels, etc

Question 9

collaboration

Answer 9

jointly planning, and operating a business as one entity

Question 10

customer focus

Answer 10

• final customer is the driving force of the supply chain
• products are pulled through the supply chain

Question 11

service supply chain

Answer 11

• higher interaction among supplier and consumer
• interact with supplier while service is being performed
• shorter supply chain
• does not have inventory as buffer (cannot store inventory)
• more like hubs

Question 12

supply chain vs logistics

Answer 12

• logistics is movement of products
• supply chain is more comprehensive (design and management of flows of products, information, and funds)