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supply chain > final exam > Flashcards

final exam Flashcards

1
Q

what is risk management

A

coordination of activities to direct and control an enterprise’s end-to-end supply chain with regard to SC risks

effort to prevent or limit the negative impacts supply chain issues have on your customers (internal and external)

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2
Q

what are the SC risk categories

A

design, quality, cost, availability, financial, legal, manufacturability, supply, evironmental, health, safety

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3
Q

explain the risk matrix

A

high

low
low higher

When there is low disruption, prob. and consequences there is low risk

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4
Q

What is resiliency

A

The ability to react to anything regardless of what it is
speed of discovery influences ability to mitigate

accelerate rev growth, improve customer satisfaction, increase savings and cash flow, minimize risk and increase resilience

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5
Q

pandemic lessons

A
  • those who were best prepared were those who fared the best
    -no one was totally prepared
    -need a high degree of collaboration this can be made a part of the process
    -supplier diversification identified to decreased risk. tradeoff is added complexity
    -establish a key truth: a measurable quantified risk profile for all strategic suppliers. align on priorities
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6
Q

What was the crisis General Motors faced

A

Factory explosions

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7
Q

what are the 3 strategic levels

A

straegic : chiefs
tactical : managers
operational : everything else

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8
Q

SCM Job Categories

A

Planning: office work, inventory control, forecasting, customer issues

Operations: DC facilities, port terminals, operations centers, day-to-day management of people and the flow of products

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9
Q

True or false is there a talent gap in SC?

A

True.
demand for SC professionals exceeds the supply.

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10
Q

What contributes to the talent gap?

A
  • changing skill requirements
    -aging workforce
    -lack of awareness fo the profession
    lack of diversity
    lack of talent pipeline development
    perception that jobs lack excitement
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11
Q

Define Supply Chain

A

a set of three or more organization directly linked by one or more of the upstream and downstream flows of products, servies, finances, and information from a souce to a custoner

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12
Q

what is not a supply chain flow?

A

transportation

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13
Q

supply chain management defined

A

the art and science of integrating the flows of products, information and financials through the entire supply pipeline from the supplier’s supplier to the customer’s customer

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14
Q

SC and Engineering collab

A

evaluate technical capabilities during supplier site visits

interact with supply managers during product development

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15
Q

SC and Marketing

A

develop accurate and timely demand requirements related to product price place promotion

share end-customer requirements with SC planning groups

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16
Q

SC Finance

A

validate cost savings from SC activities

identify the impact of Sc initiatices on corporate performance indicators ROI andRONA

asses the impact of inventory improvements on cahs flow and working capital requirements

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17
Q

SC accounting

A

Provide accurate data to support internal and external costs analyses

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18
Q

SC Human Resources

A

support the recruitment of human resources to staff SC positions

provide training and education programs related to SC knowledge and skill areas

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19
Q

SC Legal

A

perform timely and effective reviews of SC contracts

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20
Q

SC IT

A

support the development of SC information systems, including performance measurement systems

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21
Q

what is the more strategic and broader concepts within SC

A

SCMw

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22
Q

which is more tactical

A

logistics!!

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23
Q

what segment do SC’s spend the majority of their moeny on?

A

transportation

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24
Q

what happens if you have a longer order cycle?

A

you need more inventory

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25
Q

buying and selling relationships

A

raw materials : bought by supplier
supplys : bought by manufacturers
goods: bought by distributors
distributed items: bought by customers
customer sells to consumer

26
Q

what is logistics?

A
  • getting the right product to the right costumer in the right quantity, in the right condition, at the right plac erihgt time and at the right cost (7 R’s def.)
  • that part of the SC process that plans, implements, and ocntrols the efficient, effective flow and storage of goods, services, and related information from point of origin to point of consumption in order to meet customer requirements.
27
Q

Cost of lost sales to transportation costs

A

spend more, with more money, losing less sales

28
Q

Inventory Management (IM)

A

A set of techniques used to manage the inventory levels within different companies in a supply chain

goal to reduce cost while maintaining service levels customers require (tradeoff)

Forecast+product price=inputs that IM needs to balance

29
Q

3 types of inventory

A

cycle stock
safety stock
seasonal

30
Q

EOQ

A

most cost-effective amount to purchase at a time

limitation-assumes consumer demand is constant

EOQ=SQRT 2UO/ch

31
Q

Kraljic Matrix Model

A

bottlenecks items –> strategic

non-critical –> leverage

32
Q

bottleneck

A

High supply risk, low profit impact

low supplier control
Innovation/product substitution/replacement
production-based scarcity

33
Q

Strategic

A

High supply risk , high profit impact

Development of long term relationships

Collaboration and innovation

natural scarcity

34
Q

non-critical (routine)

A

low supply risk, low profit impact

product standarization

process effiency

abundant supply

35
Q

leverage items

A

low supply risk , high profit impact

exploitation of full purchasing power

ttargeted pricng strategies/negotiations

abundant supply

36
Q

what are the 5 strategy types

A

competing
collaborating
compromising
avoiding
accomodating

37
Q

Types of Assembly Processes

A

MTS

MTO

38
Q

MTS

A

level of customization: none
cost of finished goods: low
order fulfillment speed: immediate
process complexity: low
example products: commodities, toilet paper, canned soup pharmaceuticals

39
Q

ATO

A

level of customization: limited
cost of finished goods: moderate
order fulfillment speed: days-weeks
process complexity: moderate
example products: personal computers, automobiles

40
Q

BTO

A

level of customization: moderate
cost of finished goods: high
order fulfillment speed: weeks-months
process complexity: high
example products: computer servers, private jets

41
Q

ETO

A

level of customization: total
cost of finished goods: very high
order fulfillment speed: months-years
process complexity: extreme
example products: stadium, jumbotron, nuclear power plants

42
Q

Truck

A

Strengths: accessible, fast and versatile, customer service

Limitations: Limited capactiy, high cost

Primary role: move smaller shipments in local, regional, and national markets

primary product characteristics: high value, finished goods, low volume

example products: food, clothing electronics, furniture

43
Q

rail

A

strengths: hihg capacity, low cost
limitations: accessibility, inconsistent service, damage rates
primary role : move large shipments of domestic freight long distances
primary product characteristics: low value, raw materials, high volume
example products: coal/coke, lumber/paper, grain, chemicals

44
Q

air

A

strengths: speed freight protection flexibility
limitations: accessibility, high cost. low capacity
primary role : move urgent shipments of domestic freight and smaller shimpments of internaltional freight
primary product characteristics: hihg value, finished goods low volume time sensitive
example products:computers, periodicals, pharmaceuticals, business to consumer (B2C) deliveries

45
Q

water

A

strengths: high capacity low cost international capabilities
limitations:slow accessibility
primary role : move large domestic shipements via rivers and canals, move international freight
primary product characteristics: low value, raw materials, bulk commoditities, containerized finished goods
example prod: crude oil, ores minerals, farm products clothing electronics toys

46
Q

pipeline

A

strengths: in transit storage efficiency low cost
limitations: slow limited network
primary role:move large volumes of domestic freight long distances
primary product characteristics: low value liquid commodities not time sensitive
example products: crude oil petroleum gasoline natural gas

47
Q

intermodal transportation

A

rail truck, truck and boat

48
Q

what do distributions add in SCM

A

balancing supply agasint demand
protect against uncertainty
allowing quantity purchase discounts
supporting production requirements
promotion transportation economies

49
Q

4 main functions of distribution

A

accumulation
sortation
allocation
assortment

50
Q

what is crossdocking

A

goods flow from receiving to shipping

eliminating time-consuming storage and order picking

51
Q

finance connection to sc

A

logistics go up, profit goes down
inventory level goes up, capital goes down

52
Q

cash to cash formula

A

+ days of inventory
+ days of receivables
- days of payables
———————————
cash to cash

53
Q

days of inventory equation

A

avg inv * 365/ COGS

54
Q

days of receivables equation

A

A/R*365/REV

55
Q

Days of payables equation

A

A/P*365/COGS

56
Q

bullwhip effect

A

small changes in demand can produce a whip like effect upstream

little wiggles make big waves

57
Q

what factors lead to bullwhip effects

A

demand forecasting
order batching
product pricing
performance incentives

58
Q

technology enables …

A

always on connecitons

59
Q

what is a self-adjusting feedback loop

A

a continuous stream of feedback guides a system through an ever-changing environment towards its goal

60
Q

requiremnts for self-adjusting feedback loops

A
  1. real time visibility (observe) (technology)
  2. authority to act (act) (process)
  3. stake in the outcome (win) (people)
61
Q

supply chain management is all about managing

A

relationships risks and tradeoffs

supply chain (2 decks)

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