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Supply Chain Management > Chapter 1 SCM > Flashcards

Chapter 1 SCM Flashcards

1
Q

The network of all entities involved in producing and delivering a finished product to the final customer

A

Supply Chain

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2
Q

The design and management of flows of products, information, and funds throughout the supply chain

A

Supply Chain Management

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3
Q

T/F- The supply chain begins upstream with suppliers and ends downstream with customers

A

True

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4
Q

Those that supply directly to the producer or manufacturer are referred to as ?

A

Tier 1 Suppliers

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5
Q

T/F - the Supply chain streams goes from the suppliers to manufacturer to distributor to retailer and finally to customer

A

True

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6
Q

What are 3 keys details that should be focused on when managing a supply chain?

A

Coordination
Information Sharing
Collaboration

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7
Q

What scm activity coordinates the movement of goods, services, and funds through the supply chain

A

Coordination

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8
Q

What scm activity focuses on sharing forecasts, point-of-sale data, planned promotion campaigns, and inventory levels?

A

Information Sharing

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9
Q

What scm activity focuses on jointly planning, operating, and executing business decisions as one entity

A

Collaboration

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10
Q

What are the 3 flows of the supply chain?

A

Flow of Products
Flow of Information
Flow of Funds

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11
Q

This flow occurs in the supply chain when the flow of products flow from upstream to downstream and order qualifiers which result in reverse logistics

A

Flow of Products

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12
Q

When products flow from downstream to upstream because a customer returned a product this process is known as

A

Reverse Logistics

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13
Q

This flow occurs when simplified supply chains utilize data from point-of-sale back to suppliers and real time information will reduce uncertainty and inventory levels
This flow will go both ways and create transparency throughout the supply chain

A

Flow of Information

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14
Q

This flow throughout the supply chain gives the firm an idea about ow much they should be ordering or plan on manufacturing to cover demand

A

Flow of information

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15
Q

This flow occurs when funds are transferred in both directions along the supply chain and supply chain compression

A

Flow of Funds

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16
Q

Successful supply chains have reduced order cycle times or the time it actually takes the product to get to their customers this also means they are built sooner and the company receives payment sooner. This process is about of which flows and what term am I describing?

A

Flow of funds snd supply chain compression

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17
Q

When all members of the supply chain are not communicating the resulting illness is known as

A

The Bullwhip Effect

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18
Q

The following symptoms are all characteristics of what effect?
- each stage of the chain carries progressively more inventory
- the longer the supply creates the great opportunity for this illness to occur

A

Bullwhip Effect

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19
Q

Sharing point-of-sale information with all members of supply chain will combat what illness

A

Bullwhip Effect

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20
Q

T/F- Too much inventory throughout the supply chain will drive up costs

A

True

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21
Q

What is the driving force of the supply chain?

A

The final customer

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22
Q

The final customer point-of-sale data allows products to be “pulled” through the supply chain so they are directly signaling demand

A

True

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23
Q

What type of supply chain focuses more in the interaction between the customer and provider and often rely on customers as the supplier of inputs?

A

Service Supply Chain

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24
Q

This supply chain tends to be shorter than manufacturing chains and are often more like hubs than chains. They also do not have inventory as a buffer

A

Service Supply Chains

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25
Q

SCM spans and integrates functions within and between enterprises of the supply chain through:

A

Intra- Organizational Integration and
Cross- Enterprise Integration

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26
Q

What 4 members of the supply chain are apart of the intra-organizational integration?

A

Logistics
Marketing
Operations
Sourcing

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27
Q

When each member or individual organization or stage of the supply chain must also collaborate is known as

A

Cross Enterprise Integration

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28
Q

This intra-organization integration member links the organization to the customer

A

Marketing

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29
Q

This intra-organization integration member organizes the transformation off raw materials into finished products and services

A

Operations

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30
Q

This intra-organization integration member links the organization to its suppliers

A

Sourcing

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31
Q

This intra-organization integration member is responsible for moving and positioning inventory throughout the supply chain

A

Logistics

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32
Q

T/F- The company wide integration of the the intra-organization integration replaces the old “silo” mentality

A

True

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33
Q

The various supply chain organizations functioning as a single entity to satisfy the final customer is know as the ***** integration.

A

Cross-Enterprise Integration

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34
Q

What 5 things can help supply chains achieve cross-enterprise integration

A
  • Information tech as an enabler
    -relationship management
  • collaborative planning
  • sharing of risks and rewards
  • win-win strat
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35
Q

What term is tasked with weighing the concerns of collaboration between supply chain partners in a strategic effort to achieve superior competitiveness

A

Supply Chain Management

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36
Q

SCM manages 6 different aspects of the coordination process such as:

A
  • information
    -technology
  • distribution
  • products
  • finances
  • relationships
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37
Q

The part of SCM that is concerned with managing the flow of inventory

A

Logistics

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38
Q

T/F- The term supply chain management wasn’t introduced in literature until 1980

A

True

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39
Q

What were key components that contribute to the adoption of supply chain management?

A
  • companies found savings by planning and managing their supply chain more effectively
    -made advances in information technology
    -improvement in transport methods
    And had greater customer empowerment
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40
Q

What are three characteristics of a competitive supply that allows them to compete and be successful?

A

Responsiveness
Reliability
Relationship Management

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41
Q

This quality of SCM can be described as the ability to move quickly to meet customer demands

A

Responsiveness

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42
Q

Characteristics of this SCM quality are
- agility
-short supply chains
- and demand-driven rather than forecast-drive

A

Responsiveness

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43
Q

In supply chains, if any part of it is unreliable this directly creates a need to hold extra inventory this is known as

A

Safety Stock

44
Q

T/F- Safety Stock drives down cost and the supply chain wants this

A

False, drives up cost and is unwanted

45
Q

T/F-Reliability is the second quality of scm and can be provided by building visibility and transparency in the supply chain

A

True

46
Q

What is the main reasons why companies carry safety stock which results in higher costs

A

Uncertainty

47
Q

What improves reliability in supply chains?

A

Visibility

48
Q

The sharing of real-time data and information through information tech improves visibility and therefore the supply chain reliability. This can be described as what term?

A

Supply Chain Coordination

49
Q

T/F- SCM is primarily about the management of relationships across the networks of companies

A

True

50
Q

What are the 3 types of relationship management?

A

Traditional Adversarial Relationships
Relationship Building and Collaboration
Single-Sourcing

51
Q

This idea supports that the buyer seller relationship should be based upon a partnership of trust, commitment and fairness.

A

Relationship Building and Collaboration

52
Q

This type of relationship with suppliers have given way to long term partnerships but lack the need to share information and focus on scm costs collectively

A

Traditional Adversarial Relationships

53
Q

This relationship management focuses on building closer supplier relationships and cooperation between buyers and suppliers, and moves away from arms-length relationships. This also lowers freight costs, enables easier scheduling of deliveries, and the supplier may be more cooperative in addressing needs knowing they are the only source

A

Single Sourcing

54
Q

What are the 12 trends of SCM

A

Globalization
Outsourcing
Information Tech
Big Data Analytics
3-D Printing, Robotics, and Open Source Hardware
Postponement
Lean Supply Chain
Managing Supply Chain Disruptions
Supply Chain Security
Sustainability and the “Green” Supply Chain
Innovation
The Financial Supply Chain

55
Q

T/F-The concept of the Global Marketplace changed how and where businesses conducted and has opened new markets to sell to and new firms where supplies could be sourced from

A

True

56
Q

Globalization was enabled by

A

Information Technology
Transportation
Government Policies

57
Q

What does GATT stand for

A

General Agreement on Tariffs and Trades

58
Q

GATT was replaced by what we know today as the World Trade Organization. What did GATT cover and what does the World Trade Organization cover?

A

GATT covered only trade and goods while the WTO addressed trade, services and intellectual property.

59
Q

T/F-The World Trade Organization has 164 members and represents 98% of international trade today.

A

True

60
Q

Hiring a third party to perform a set of tasks for a fee is defined as

A

Outsourcing

61
Q

What term am I describing?
Forces companies to focus on what they do best and outsource other activities

A

Increased Competitive Pressure

62
Q

What term creates superior value by managing core competencies better than competitors

A

Core Competencies

63
Q

What is known as the biggest enabler of SCM

A

Information Technology

64
Q

What are the 5 ways information tech is enabling the supply chain

A

Internet
Enterprise Resource Planning (ERP) Software
Wireless and Satellite Communication
Global Positioning Systems (GPS)
Radio Frequency Identification (RFID)

65
Q

Big Data Analytics is also referred to as

A

business analytics

66
Q

This scm trend refers to large datasets whose size is so large that the quantity can no longer fit into a typical computers memory that it uses for processing

A

Big Data Analytics

67
Q

What are examples of large datasets are generated by

A
  • Point of sale systems
  • Radio Frequency Identification systems
  • Call center data
    -or various social media outlets
68
Q

This term refers to the application of math and statistics to these large datasets

A

Analytics

69
Q

T/F- Big Data Analytics enables the extraction of meaningful insights which can be converted into intelligence (A.I)

A

True

70
Q

This scm trend stems from three technologies used to create a solid object from a software design which transformed how manufacturing is conducted. An example of this in place that it was used to make medical implants and to create prototypes for engineers ( short time in production of prototypes). What is the trend and what is the tech

A

Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: 3D Printing to Additive Manufacturing

71
Q

This scm trend stems from three technologies used because it is cheaper than past robotics, can be installed rapidly, and is allows state-of-the-art automation now accessible to small manufacturers without significant capital investment

A

Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: Intelligent Assembly Robots

72
Q

This scm trend stems from three technologies, previously companies had to reverse engineer to understand electronic and hardware design. However, designs are now made available at no charge with the goal of accelerating the design of new products

A

Trend: 3D Printing, Robotics, and Open-Source Hardware
Tech: Open- Source Hardware

73
Q

T/F- Through the adoption and integration of 3-D printing, intelligent assembly robots, and open-source hardware, manufacturing processes can now be run through software

A

True

74
Q

This scm trend specializes in the completion of the final product is postponed to the last possible moment till local demand are known

A

Postponement

75
Q

This scm trend is used as a strategy for companies to reach diverse geographic areas while still providing local customization

A

Postponement

76
Q

This scm trend is the set of all organizations directly linked by upstream and downstream flow of products, services, finances, and information that collaboratively work to reduce cost and waste also known as “the elimination of waste”

A

Lean Supply Chain

77
Q

What are the two categories of managing supply chain disruptions?

A

Increased Risk
Supply Chain Disruptions

78
Q

Two increased risks for managing supply chain disruptions trend is

A

Global Sourcing and Lean Operations

79
Q

What are examples of supply chain disruptions for the managing supply chain disruptions trend

A

Transportation Delays
Industrial Plant Fires
Work Stoppages
Natural Disasters
Terrorist Attacks

80
Q

The following strategies are used to aid which trend?
- Backup suppliers
Excess system capacity
Screening suppliers for risk
Developing disruption plans
Anticipating disruption costs

A

Managing Supply Chain Disruptions

81
Q

This SCM trend is known as the study of ways to protect security while maintaining efficiency is now key issue

A

Supply Chain Security

82
Q

Government regulations are in place to prevent acts of terrorism such as
Customers-Trade Partnership Against Terrorism
Container Security Initiative to aid in which trend

A

Supply Chain Security

83
Q

Supply chain security are trying to combat theft through the use of technologies by assessing

A

Electronic Seals
RFIDS and GPS

84
Q

Which scm trend is concerned about having a sustainable chain and environmental concerns

A

Sustainability and the “Green” Supply Chain

85
Q

Climate change, energy use, environmental contamination, and resource depletion are all ** concerns

A

Environmental

86
Q

Which supply chain processes to use environmentally friendly inputs and create outputs that can be recycled and that do not contaminate the environment

A

Sustainable Supply Chains

87
Q

An example of the sustainability and the “Green” supply chain is the process and use of

A

smart packages and filing trucks as full as possible

88
Q

The supply chain trend that focuses on designing and completion on innovation is known as the

A

Innovation Trend

89
Q

When a supply chain is designing new products, designing new cost-cutting production processes and more efficient product delivery mechanisms this is the company acting on what trend

A

Innovation

90
Q

What are the 3 perks for competing on innovation

A
  • shorter supply chains
    -involve suppliers early in design process
  • and utilize supplier product and process improvement ideas
91
Q

This scm trends job is to redesign supply chains and search for less costly sources of supply

A

Financial Supply Chain

92
Q

What are strategies for the financial supply chain

A

Global Sourcing
Production Outsourcing
Outsourcing Noncore Activities

93
Q

The time it takes to convert an order into cash is defined as

A

Cash to Cash Cycle

94
Q

What are three examples of SCM Job Duties

A

Entry-Level Management
Middle Level Managements
Senior Executives Positions

95
Q

*Associate Global Supply
Chain Planner
* Distribution Center
Inventory Control &
Quality Assurance (ICQA)
Leader
* Sector Transport Asst.
Analyst
* Supply Chain Associate
* Global Supply Chain
Specialist
* Supply Chain Demand
Planner
* Mfg Supply
Chain/Procurement Leader are all examples of what level jobs

A

Entry Level

96
Q

Implementation
Consultant - Supply
Chain
* Supply Chain Systems
Design Specialist
* Buyers
* Supply Specialist
* Associate Product
Manager – Supply
Chain
* Supply Chain Planning
Specialist
* Supply Chain Specialist
* Supply Chain
Coordinator are all examples of what level management and how many years have they worked to get position

A

Middle Level and 3-5 years

97
Q

Supply Chain
Operations Program
Manager
* Product Manager –
Supply Chain
* Manufacturing Supply
Chain Director
* Manager of Supply
Chain Operations
* Supply Chain
Associate Director
* Director of Supply
Chain Business
Systems
are all examples of what level management and how many years have they worked to get position

A

Senior Executive Positions 5 or more years

98
Q

What does ASCM stand for

A

Association for Supply Chain Management

99
Q

What does IANA stand for

A

Intermodal Association of North America

100
Q

What does CSCMP stand for

A

Council of Supply Chain Management Professionals

101
Q

What does ISM stand for

A

Institute for Supply Management

102
Q

Examples of Traditional Manufacturers include

A

automotive – GM, Ford, etc.
consumer goods – P&G, PepsiCo, etc.; pharmaceuticals – Eli Lilly, Bristol Myers Squibb, etc

103
Q

Examples of Retailers include

A

(Target, Walmart, Dollar General, Amazon, Hollister, Co., AEO Management Co., Ulta Beauty, Bass Pro Shops, etc.)

104
Q

Examples of Service Organizations are

A

Education – Georgia Southern University, Government – Federal, State,
Financial – VISA, Bank of America, etc.
Health Care – East Georgia Regional Medical Center (hospital in Statesboro), Memorial Health University Medical Center (hospital in Savannah); many other service organizations!!!)

105
Q

Example of consulting firms

A

Manhattan Associates, Accenture, etc.

106
Q

Example of Transportation service providers

A

DHL, J.B. Hunt, BNSF, Syfan Logistics, Marten Transport, etc.

Supply Chain Management (11 decks)

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