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Introduction To Supply Chain Management > Week 1 & 2 - Supply Chain And Strategic Decisions > Flashcards

Week 1 & 2 - Supply Chain And Strategic Decisions Flashcards

1
Q

Elements of Supply chain network (3)

A
  • Suppliers > Manufacturer/assembler > distributor > retailer
  • Suppliers to manufacturer is the physical flow
  • Manufacturer/ assembler has information flowing to suppliers and distributors
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2
Q

Definition of supply chain management

A

Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, comversion and all logistics management activities

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3
Q

What is meant by Upstream supply chain?

A

Is the part of the supply chain that’s responsible for sourcing raw materials, procurement and operations

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4
Q

What is meant by downstream supply chain? (2)

A
  • Is all about getting the final product to the end user

* Involves warehouse and inventory management, distribution and retail operations

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5
Q

What are the different functions of supply chain management? (5)

A
  • Procurement management
  • Operation management
  • Logisitics management
  • Planning
  • Relationships management
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6
Q

What is procurement management?

A

Management of raw materials including quality and quantity

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7
Q

What is operations management?

A

Management of where products will be made, how they will be made and the batch sizes

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8
Q

What is logistics management?

A

Refers to warehousing and transportation of products

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9
Q

What is planning?

A

Involves anticipation of supply and demand uncertainties, volumes, inventory and network design

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10
Q

What is relationships management?

A

Refers to how all the companies in the supply chain work with each other

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11
Q

What are the Three C’s?

A
  • Customers - needs seeking benefits at acceptable prices
  • Competitors - assets and utilisation
  • Company - assets and utilisation
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12
Q

Cost advantages in logistics and supply chain management (2)

A
  • Economies of scale - enables fixed costs to be spread over a greater volume
  • Increased efficiency and productivity - contributing to reduced unit costs
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13
Q

What is meant by Value advantage? (3)

A
  • ‘customers don’t buy products they buy benefits’
  • value advantage can be gained through product differentiation
  • Value advantage can also be through customer service
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14
Q

Ways gaining a competitive advantage in supply chain (4)

A
  • Service leader
  • Commodity markets
  • Cost leader
  • Service and cost leader
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15
Q

What is a commodity market?

A

Tend to be more generic products and the cost is very similar to competitors prices e.g rice, eggs, milk etc

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16
Q

What is a service leader?

A

Don’t differentiate on cost but through customer service or brand image e.g Zara and Apple

17
Q

What is a cost leader?

A

High cost advantage in the market but low value advantage e.g primark

18
Q

Service and cost leader

A

High cost advantage and high value advantage e.g Samsung

19
Q

Value advantage - logistics leverage opportunities (3)

A
  • Tailored services
  • Reliability
  • Responsiveness
20
Q

Cost advantage - logistics leverage opportunities (3)

A
  • Capacity utilisation
  • Asset turn
  • Synchronous supply
21
Q

Primary activities in the value chain (4)

A
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
22
Q

Support activities in the value chain (3)

A
  • Infrastructure
  • Human resource management
  • Technology development and procurement
23
Q

Competitive advantage formula

A

Product excellence x process excellent

24
Q

Customer value forumula (2)

A
  • Perceived benefits / total cost of ownership

* Quality service / cost time

25
Q

What is quality?

A

Is the functionality, performance and technical specification of the offer

26
Q

What is a service?

A

A service refers to the availability of support and commitment provided to the customer

27
Q

What is a cost?

A

Cost includes customer transaction cost, price and life cycle cost

28
Q

What is time?

A

Is the time taken to respond to customer requirements e.g lead times

29
Q

What are the guiding principles of successful supply chain management? (4Rs)

A
  • Responsiveness
  • Reliability
  • Resilience
  • Relationships

Introduction To Supply Chain Management (7 decks)

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