Firms with flexible manufacturing have the ability to create a wide variety of goods with minimized costs associated with changing production techniques. Philip Crosby states that the correct cost for a well-run quality management program should be under 2.5 percent of sales. Safety's importance does not vary with time or situation. ________________ = Rate bargaining power when negotiating rates. Information Technology Project Management: Providing Measurable Organizational Value, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine. Which of the following is an area in which successful supply managers need expertise? ), Supply chain measurement is important for which reasons? (True or False). What type of continuity/resiliency capability does this best represent? To be effective, management must have the following: 1. Supply chain management is one of the most important . EDI and API are essentially the same thing called by different names. romantic finger lakes bed and breakfast . . Ironclad compliance requires comprehensive traceability, but there's more to it. Bringing the project into the organization as a separate, ongoing entity is called 1.29 *Bankers* who are processing loan applications from companies seeking large loans will probably ask for financial statements audited by an independent CPA because. (Select all that apply.). Now you must be wondering what those goals are. There's value in gathering information on your suppliers' progress toward compliance and sustainability. Which of the choices below is not one of the three broad types of customer classifications that can be used to help a company properly segment its supply chain? External collaboration and partnerships were virtually nonexistent, -Manufacturers focused on inventory reduction to improve cash flow and reduce cost. Reasonable estimates of inventory holding costs, ordering costs, and shortage costs 5. Which factors create the difference between an operations theoretical capacity and its actual capacity? Values reflect what the organization believes. Which of the following techniques best describes the fulfillment of steak orders to the final customer? Traditional Production Scheduling and Mass customization (build-to-order). implementation of engineering projects critical to the manufacture of new products. A company can create a cost advantage by improving the efficiency of its supply chain. A strike has just occurred at a key supplier. With regard to supply chain connection composition, how would you best describe Best Buy implementing Samsung Experience Locations inside its retailer locations? The difference between the customer's desired order cycle time and the total supply chain order cycle time is known as _______, The economic order quantity (EOQ) model aims to _______. All of them can be traced back to four fundamental factors that are the goals of pursuing social sustainability in the first place: Ensure adherence to proper labor, safety, and security standards One of the major challenges of supply chain management is answer choices forward buying maintaining the visibility of inventory building safety-stock inventory Pushing inventory back to vendors Question 16 30 seconds Q. This aggregate planning technique is known for being examined under a variety of conditions. It is believed that by studying the management process, you are increasing your effectiveness as a manager. S pecific. Knowledge of lead times and lead time variability 4. ), To provide important information to others in the supply chain. Cooperative supply chain relationships developed to enhance the overall business performance of both parties is a definition of: a. third-party logistics b. supply chain collaboration c. dovetailing d. relationship marketing B Supply chain collaboration can be classified as transactional, strategic, or ____ in nature. concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process. The primary purpose of the supply chain is to fulfill demand, drive customer value, improve responsiveness, facilitate financial success and build a good network. What is the ideal situation for companies as they seek to create a competitive advantage through SCM? Which of the following is not a goal of supply chain management? A company is currently using lean value fulfillment. Which measurement would likely rise if the supply chain team secured a supplier that provided a new, popular technology to include in the company's product? B.dose not integrate well with functional areas other (True or False), Service firms offer intangible products (meaning products that cannot be physically touched), therefore, they do not have a supply chain. A scorecard that is balanced typically includes which of the following? The primary goal of supply-chain management is: to reduce the costs of components and parts purchased from suppliers. Search. Start studying Supply Chain Management 300 Chapter 1, 2, 3. Warehouses were once relegated to the outskirts of cities, but companies are now reexamining the economics of locating warehouses in city centers to provide increased responsiveness to customers. (True/False) Ans. what are the objectives of supply chain management quizlet. How does supply chain management create value? What would be the best approach to use if a manager wants to assess risk across key locations around the globe? We're seeing many companies build sustainability goals into their supply management objectives. facilitate a shared understanding of product ideation, development, and launch by storing product data and history. Production scheduling based on pushing a product down to the consumer has disadvantages: 1. sourcing and procurement of raw materials and supplies. By now, almost all our readers have probably heard the popular acronym for goal-setting. Valuable supply chain research and the latest industry news, delivered free to your inbox. Tactical management focuses, instead, on processes and procedures that can save time and money while also meeting customer demands and providing value. decisions in warehouse location. _____ measures are the most important type of supply chain metric. (Select all that apply. Theoretical capacity includes which of the following items? Latest second hand Suzuki GT bikes for sale . What type of warehouse has the advantages of economies of scale, minimizing labor disputes, and letting experts run the warehouse? Supply chain activities cover everything from product development, sourcing, production, and logistics, as well as the information systems needed to coordinate these activities. The top five supply chain management goals include the following: Ensure efficiency; Optimize and standardize logistics; Focus on improving quality; Increase . For a company that builds ships for cruise lines, which type of supply chain fulfillment model would typically make most sense? The purpose is to balance supply management with demand management. T ime-bound. This is done through tremendous effort involving time, money . Which ERP vendor entered the enterprise system market nearly 30 years after the first solution was introduced? The goal of supply chain management is to create a competitive advantage for a company. If a technology company wanted to become world renowned for its customer service, which type of benchmarking might it use to gather data? The concept of Supply Chain Management (SCM) is based on two core ideas: The organizations that make up the supply chain are linked together through physical flows and information flows. Increased outsourcing of non-core competencies, Expanding the Supply Chain Internationally, both mature and emerging markets have become a part of the overall business growth strategy for many companies, Societal pressures to make and source in 'the right way'; minimizing social, economic and environmental impact while developing a positive impact, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer. highly integrated process, often requires persons from multiple companies and multiple functions to come together and coordinate to create customers satisfaction at a given place and time. An airplane's main fixed wings have moving parts. September 2, 2022; cheap gold necklaces near berlin; 4 prong diamond earring setting IOR/EOR services. In most cases, demand for a product and the company's ability to produce are not_____, During the DSI process, if a business concludes that there is more demand in the marketplace than there is capacity in the supply chain for a particular product, the business's reasonable action(s) would be to_____, In a business-to-business environment, a customer's demand plan should serve as input to the supplier's_____, Plan-driven forecasting occurs when the firm's financial goals have an inordinate influence on the firm's_____. (Select all that apply. 3.balance score card benefits include: well defined measures and clear objectives Suzuki GT bikes for sale . The goal of supply chain management is tosynchronize supply and demand of all of the organizations that are part of the chain. can create additional revenues for firms. 24. An ideal Integrated Business Planning process requires participation from all of the following functions except which one? ), One of the most challenging aspects of purchasing is to ensure an uninterrupted flow of supply. Need flexibility. ____________ products are of high value to the internal buyer and to the end customer, and dealing with the supply market for those products is highly complex. The basic purpose of supply chain management is to: a. create an exclusive set of suppliers who will not supply your competitors b. link your customers together so the flow of materials remains under control c. synchronize the operations of all suppliers with those of purchasing, production, distribution and customers A company's supply chain includes all of the companies involved in all of the upstream and downstream flows of products, services, finances, and information, from the initial suppliers (the point of origin) to the ultimate customers (the point of consumption). _____involves using software packages to better see trends and patterns in data. -Enabling processes facilitate a company's ability to manage the supply chain and are spread throughout every stage. The result was disjointed and often ineffective supply chains. What type of storage technique assigns a specific location for each SKU every time it is stored? SCM Supply Chain Management Definitions & Terms. Posted at 23:45h in 1920s dress plus size by wordpress technology stack. Planners spend most of their time focusing on exceptions. Supply Chain Operations Research Model: Enable. Managing closed-loop supply chains are more complex than traditional forward supply chains because _______. What part of the Supply Chain Operations Reference (SCOR) model involves purchasing materials or services? 25. Becoming more efficitient and effective. -Term Supply Chain Management was coined by Dr. Wolfgang Partsch and his team at Booz, Allen & Hamilton in the early 1980's Goal of Supply Chain: Seven "R's" Rule -have the Right product, -for the Right customer, -in the Right quantity, -at the Right place, -in the Right condition, -at the Right time, -for the Right price. Why has supply chain management recently received more recognition? . What Do You Need to Know about Supply Chain Management (SCM)? Which of the following would be an appropriate metric for a senior-level supply chain executive who is managing an integrated supply chain? the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumtion, the link that connects all the logistics functions of the supply chain. Supplier Relationship management supply chain management the effective and efficient integration of the suppliers, manufacturers, transportation organizations, as well as the other parties responsible for collectively bringing products and services to market prcurement the branch of the supply chain responsible for acquiring materials, equipment, products and services operations This field is for validation purposes and should be left unchanged. Enables firms to manage volumes of returned product efficiently while minimizing the value of the returned assets to the firms in the supply chain. Equally important, they expect their suppliers to do the same. (Select all that apply. Identify from the following list a major strategic risk associated with outsourcing. The owner (client) should not be a member of the team. what are the objectives of supply chain management quizlet. What events can result in a supply chain disruption? (Select all that apply. Term. system whereby orders are entered into the supply chain and filled, Information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduce inventory levels, improve cash flow, streamline operations, and increase the speed and accuracy of information transmission, an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer, a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturer's or a customer's demand, an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer, a real-time inventory system that triggers shipments only when a good is sold to the end user, moves inventory into, within, and out of the warehouse quickly with minimal handling, Outsourcing, or Contract Logistics, is a rapidly growing segment of the distribution industry in which a manufacturer or supplier turns over the entire function of buying and managing transportation or another function of the supply chain, such as warehousing, a distribution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber optic cable or through satellite transmission of electronic signals, Service Management: Operations, Strategy, and Information Technology, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Operations Management: Sustainability and Supply Chain Management, Information Technology Project Management: Providing Measurable Organizational Value. Setting goals for improvement projects. Information flows allow the various supply chain partners to coordinate their long-term plans, and to control the day-to-day flow of goods and materials up and down the supply chain. Warehouse automation is another phrase for WMS. equipment design rate multiplied by 24 hours/day times 365 days/year, The following are true about a value. View more. Which of the choices below is not one of the ways that companies can use to foster an integrated approach to supply chain management? What megatrend will greatly challenge supply chain managers? SCM integrates supply and demand management within and across companies. The goal of supply chain management is to increase _ while reducing inventory and expenses. Supply chain management includes the collection of materials, the manufacture of products, and the delivery to the consumer. ordering of goods. Which of the following is the primary issue enterprise systems are designed to address? Product Development and Commercialization Process, group of activities that facilitates the joint development and marketing of new offerings among a group of supply chain partner firms. The main objectives of Supply chain management are to reduce cost, improve the overall organization performance and customer satisfaction by improving product or service delivery to the consumer. Supply Chain Management. To enhance the customer experience, Apple also operates a chain of over 450 additional stores worldwide in f. occurs when various units within an organization have their own copies of various data and updates to one unit's data source is not reflected in the copy of data held by other units. jeep jl soft top window storage bag . Why is manufacturing referred to as the "center" of the supply chain? Challenge of Supply Chain Operations are often seen as a standalone function when they should be a fully integrated component of supply chain management. Which of the following is best characterized as the current general trend for locating manufacturing operations? What has been the traditional top priority of supply chain organizations in most companies? ut the four basic steps in the supplier selection process in the correct order. the management of up and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole. can spiral up or down over time, depending on performance realized along the way. Pull or Make-to-Order, -Push or Make-to-Stock: Producing stock on the basis of anticipated demand. Supply chain management (SCM) is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. The business loses sight of market trends. ___________ are goods that are of high value to internal and external customers but are not in a complex purchasing environment. At what time during flight do these parts play a major role. Here we see the interplay among our five supply chain goals for 2022. Which phase is the firm most likely dealing with? Littlejohn Company sources a critical component from a supplier in China and a supplier in Mexico. Using S.M.A.R.T., these state that all goals should be. to improve the quality of components and parts purchased from suppliers. A supply chain is a network of businesses that interact with one another to create a common goal or goal of buying goods or services. 1. customer relationship management 2. customer service management 3. demand management 4. order fulfillment 5. manufacturing flow management 6. supplier relationship management 7. product development and commercialization 8. returns management Such development requires two things, most nearly. In the Make-to-Order or Pull Model, stock is produced based on anticipated (i.e., forecasted) demand. R ealistic. There are three main categories of supply chain performance metrics; time, cost and quality . Which of the choices is not a useful measure for assessing profitability? For a manufacturing company buying steel on the commodity market, what would likely be the best relationship approach? A basic supply chain is the flow of products & services from: -Managing all the steps involved in bringing a product to market. Purchasing departments plan purchasing strategies, develop specifications, select suppliers, and negotiate price and service levels. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally". (Select all that apply.). -Focus was on mass production techniques as their principal cost reduction and productivity improvement strategies. -Make or manufacturing is the series of operations performed to convert materials into a finished product. For a group of neighborhood children who are operating a lemonade stand at the community pool, which type of supply chain fulfillment model would typically make most sense? Most primary goals of efficient supply chain management should be - faster delivery, Higher efficiency, and an accelerated cash flow. A.fewer suppliers and long-term relationships B.small lot sizes C. smooth uninterrupted flow D. large batches to increase efficiencies 2.Enterprise resource planning (ERP): A. seldom requires software upgrade or enhancement. Based on similar cost and service characteristics, which mode of transportation is the biggest competition for an inland water transport? The "Great Divide" in supply chain management occurs between: suppliers and manufacturers demand-generating activities and demand-fulfilling activities sales and marketing activities organizations and their customers demand-generating activities and demand-fulfilling activities What megatrend will greatly challenge supply chain managers? What is the primary reason that mergers and acquisitions fail? To pursue sustainability is to create and maintain the conditions under which humans and nature can exist in productive harmony to support present and future generations.". krylon sea glass spray paint colors; who makes mopar thermostats - Cost reduction. The "Great Divide" in supply chain management occurs between: demand-generating activities and demand-fulfilling activities. Which one of the types of planning was not introduced in this module? What is the advantage of proprietary equipment? It is natural within organizations for functions to cooperate for the good of the overall organization. Supply chain management (SCM)is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. How much energy can be saved when cans are recycled through closed-loop systems? a system that facilitates end-to-end execution of business processes. 180 seconds. (Refer to Figure 162.) How Do You Do Supply Chain Management (SCM)? Supply chain management is focused on doing that in the most efficient and effective way. Logistics, in its simplest form answer choices is a military term, as it was developed originally to supply the battlefield v. what did it cost me? What warehouse activity includes identifying the location of the product required to fill an order? 3 or more companies directly linked by the upstream and downstream flows of products, services, finances, and information from a source to a customer. Question 16. If average daily demand for a product is 5 units and average lead time for an order to arrive is 7 days, what is the reorder point (ROP) for the product? Carriers will offer better rates if clients give them revenue miles in ______________. -Companies are focusing on their own core competencies, outsourcing, global supply chain coordination, integrating with suppliers and customers for competitive advantage and speed. Suzuki GT 500 550cc 1975 | Classic. For a company producing leather goods embossed with a customer's initials, which type of supply chain fulfillment model would typically make most sense? Why Is It Important To Control The Supply Chain Quizlet? Which measurement would likely lower if the supply chain team used less raw material through an enhanced manufacturing process? 1. A company can create a competitive advantage by reducing the cost of its products or services, or by differentiating its products or services from those of its competitors. 1975 (N reg) | Classic | 550cc | 29,284 miles | Petrol. . View Test Prep - SCM quiz.xlsx from SCM-2020 MISC at Sullivan University. Objectives of Logistics Management in SCM. The supply chain value proposition framework represents the interactions among which of the following? The Vested methodology is best described as _______. AKA: lean production, requires manufacturers to work closely with suppliers and transportation providers to get necessary items to the assembly line or factory floor at the precise time they are needed for production. Select the information that is needed to determine the capacity forecast, which is a part of the supply review. Why Do You Need To Know About Supply Chain Management (SCM)? Overall, supply chain operations should have the following objectives; - Value creation. (Select all that apply.). As you approach the runway, you notice runway centerline lights. Invented by Malcolm McLean it reduced handling cost by 97%, Supply chains are generally described as spanning from end-to-end, i.e., from your suppliers-suppliers on one end, through your internal operations, and out to your customers-customers on the other end, Supply Chain Operations Research Model: Plan, -Planning establishes the parameters within which the supply chain will operate, Supply Chain Operations Research Model: Source, -Sourcing is the process of identifying the suppliers that provide the materials and services needed for the supply chain to deliver the finished product(s) desired by the customer(s), Supply Chain Operations Research Model: Make. All rights reserved. Physical flows involve the transformation, movement, and storage of goods and materials. The goal of a _____________ is to facilitate the movement of goods and raw materials from origin to destination in an efficient, reliable, and cost-effective manner. mental aspect of supply chain management is the consideration of not just the cost and profit goals of one company (the focal organization), but of all the companies involved in managing the supply chain. Both a communicator and physical flow process. Which are the Manufacturer's Tier 1 supply chain partners? Trade compliance. ), Closed-loop supply chains _______ (Select all that apply.). By | August 31, 2022 | high energy snacks for labour According to the text, this is an example of The primary purpose of risk management trend analysis is to: A. meet regulatory requirements. (Select all that apply.). supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers. a. operational 6. How many Rights are in the "R's Rule" of supply chain management? TRUE TRUE 10. There is often confusion between the "Achievable" and "Realistic" portions of this . The cost of supplied material is passed on to the customer. ___________ risks are more about behaviors or perceptions of individuals that can negatively impact the IT solution in question. Let's have a sneak-peek into some high-level supply chain management goals. Which of these actions will most directly lead to more cash on hand for an organization? A chievable/Attainable. _______________ is the physical integration of disparate systems among supply chain ecosystem members to exchange information in a timely and qualitative manner. Necessitating closer integration and collaboration, Cost Reduction and Continuous Improvement, Reducing purchasing costs, waste, excess inventory & non-value added activities. The purpose of a _________ is to observe and document everything he/she sees. Which type of inventory is represented by the example of the Airbus A350 in which the subcomponents such as the fuselage, wings, and landing gear all come together for final assembly? What is the Main Goal of Supply Chain Management? - Efficiency maximization. Which of the following might interrupt that flow? Planners who work at a strategic level with suppliers are called _____. For a company that makes the most popular brand of cookies within a country, which type of supply chain fulfillment model would typically make most sense?
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