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3rd Year (1st Sem) > HM08 Quiz > Flashcards

HM08 Quiz Flashcards

1
Q

This has intermediaries and is only effective if the process is followed

A

Supply Chain

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2
Q

What are the intermediaries in the Supply Chain?

A

wholesaler + retailer

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3
Q

It involves activities such as sourcing, delivery, repair, and material control operations.

A

Supply Chain Management

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4
Q

This involves marketing, manufacturing of new products, finance, and customer support.

A

Supply Chain Management

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5
Q

The Supply Chain Management focuses on activities such as (4)

A
  1. Sourcing
  2. Delivery
  3. Repair
  4. Material Control Operations
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6
Q

In SCM, before sourcing there should be a ____.

A

need

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7
Q

It means looking for something or for an initial supplier (3-5 suppliers)

A

Sourcing

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8
Q

It is usually done through bidding or invitation.

A

Sourcing

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9
Q

Companies have ___ to look for suppliers with the lowest price. They are also the ones in charge of forms to be approved.

A

Supply Officer

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10
Q

It is a network of suppliers, manufacturers, assemblers, supply and delivery centers, and logistic installations

A

Supply Chain

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11
Q

It performs functions such as material sourcing, processing, and shipment to buyers of those materials of an intermediate/ finished product.

A

Supply Chain

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12
Q

SC performs functions such as _____, _____, and ___ to buyers of those materials of an intermediate/ finished product.

A

material sourcing
processing
shipment

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13
Q

It refers to the supply and delivery centers

A

Wholesalers

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14
Q

These are the persons involved in SCM

A

Supply Chain

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15
Q

It is a lineup of companies that market goods/ services.

A

Supply Chain

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16
Q

All stages (directly/ indirectly) involved in the fulfillment of a consumer order have _____.

A

Supply Chain

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17
Q

TRUE/ FALSE: Not only manufacturers but also shipping providers, warehouses, dealers, and consumers themselves are involved in the supply chain.

A

TRUE

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18
Q

TRUE/ FALSE: Only manufacturers are involved in the supply chain.

A

FALSE (only manufacturers- also shipping providers, warehouses, dealers, and consumers)

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19
Q

Who are the ones involved in the Supply Chain?

A

Manufacturers
Shipping providers
Warehouse
Dealers
Consumers

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20
Q

TRUE/ FALSE: The supply chain starts once the process is completed.

A

FALSE (starts- ends)

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21
Q

It ends once the process is completed (consumer received service)

A

Supply Chain

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22
Q

A perishable delivery was scheduled but due to the storm, the delivery was not made until the next day. Upon receiving it, the product was expired. Who is at fault?

A

Manufacturer and Delivery

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23
Q

Six (6) essential features of SCM:

A
  1. Integrated Behavior
  2. Mutually sharing information
  3. Mutually sharing channel risk and rewards
  4. Cooperation
  5. Focus on serving customers
  6. Integration Process
  7. Partners to build and maintain a long-term relationship
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24
Q

SCM integrates stakeholder integration between the client and provider.

A

Integrated Behavior

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25
Q

For planning and surveillance processes, an efficient SCM exchange of information between channels of participants is needed.

A

Mutually sharing information

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26
Q

Effective SCM often includes reciprocal channel risks and incentives to have a competitive benefit. The long-term emphasis and coordination between SC participants should be risk-sharing and reward-sharing

A

Mutually sharing channel risk and rewards

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27
Q

SCM integrates _____ between the client and provider.

A

stakeholder integration

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28
Q

For___ and ___ processes, an efficient SCM exchange of information between channels of participants is needed.

A

planning and surveillance

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29
Q

An effective SCM often includes ____ and ____ to have a competitive benefit.

A

reciprocal channel risks and incentives

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30
Q

The successful SCM requires ____ between the channel participants.

A

Cooperation

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31
Q

It refers to the company’s coordinated, identical, or complementary operations in an enterprising relationship, in order to achieve collectively reckoned, superior results.

A

Cooperation

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32
Q

SC is effective where all supply chain members serve consumers with the same objective and concentration.

A

Focus on serving customers

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33
Q

A mode of policy convergence has the same aim and focal point for SC members.

A

Focus on serving customers

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34
Q

TRUE/ FALSE: SC is effective where all supply chain members serve consumers with different objectives and concentrations.

A

FALSE (different- the same)

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35
Q

A mode of _____ has the same aim and focal point for SC members.

A

policy convergent

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36
Q

Implementing SCM requires the convergence of systems from the supply chain to production and delivery.

A

Integration Process

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37
Q

The objective of successful partnerships is to merge channel policies to reduce duplication and overlap in the search for a degree of cooperation that makes partners more efficient at lower costs.

A

Partners to build and maintain long-term relationships

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38
Q

The integration process is possible if the chain members have a clear culture and strategies.

A

Partners to build and maintain long-term relationships

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39
Q

Implementing SCM requires the ___ from the supply chain to production and delivery.

A

convergence of systems

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40
Q

What is the objective of a successful partnership?

A

merge channel policies

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41
Q

The objective of successful partnerships is to merge channel policies to reduce duplication and overlap in the search for a degree of cooperation that _________.

A

makes partners more efficient at lower costs

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42
Q

The long-term emphasis and coordination between SC participants should be ____ and ____.

A

risk-sharing
reward-sharing

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43
Q

supply chain phenomenon in which there are inefficiencies in forecast and supply chain

A

bullwhip effect

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44
Q

why are there inefficiencies in forecast and supply chain according to the bullwhip effect?

A

demand for goods is based on demand forecasts than actual consumer demand

45
Q

demand of goods should be based on __.

A

actual consumer demand (precise forecast)

46
Q

to get actual demand forecast:

A

Based on last year’s sales

47
Q

occurs when companies significantly cut/ add inventories

A

bullwhip effect

48
Q

why bullwhip?

A

small increase in demand causes a BIG snap in the need for materials in SC

49
Q

what is considered a demand forecast?

A

predictions

50
Q

reduces costs during manufacturing
leads to cost and value for customers

A

procurement management

51
Q

used in logistics and supply chain to support the operational needs of the company

A

procurement management

52
Q

procurement is used in __ and supply chain to support the operational needs of the company

A

logistics

53
Q

procurement management is used in logistics and supply chain to support the operational needs of the company by focusing on:

A

how purchasing is done
how products are received
build relationships with vendors and manage the procurement process by identifying opportunities

54
Q

sourcing supplies =m

A

building relationships

55
Q

goal of procurement management

A

less costs

56
Q

less cost in procurement leads to:

A

best value

(cheap raw materials, low price for final product)

57
Q

T/F: distribution management is related to SCM

A

F (distribution- procurement)

58
Q

procurement vs. purchase

A

procure- entails several processes; don’t purchase right away
purchase- part of the procurement process

59
Q

what is procurement management about

A

sourcing

60
Q

get the right goods, to the right customers, at the right time

A

distribution management

61
Q

activities included in the distribution

A

what type of transpo used?
are there distributors/wh retailers/ direct sellers?

62
Q

what is the distribution management about

A

intermediaries

63
Q

how is distribution management used as a strategy?

A

minimize transport costs required to move goods from its networks of suppliers the company- for CONSOLIDATION- before being sent

64
Q

in distribution, there should be a __

A

network

65
Q

companies have __ to mediate from company to end consumers (distributors/ retailers)

A

intermediaries

66
Q

T/F: the distribution process has a domino effect

A

T

(one delay in any process can cause delays)

67
Q

distribution has to be effective =

A

delays affect fast-track delivery

68
Q

important among the current practices in SC

A

demand of goods is based on customer need

69
Q

sic (6) current practices in the supply chain

A
  1. procurement management
  2. distribution management
  3. logistics management
  4. inventory management
  5. green supply chain
  6. information technology
70
Q

focus on areas like transportation management + picking orders

A

logistics management

71
Q

cost structure improvements and higher revenue flow

A

logistics management

72
Q

reduction in transport cost if all operations are STREAMLINED correctly

A

logistics management

73
Q

transportation management comprises of:

A

land
air
water

74
Q

it entails what mode of transport and order (usually done through websites/ internet/ search engines)

A

logistics management

75
Q

refers to what to use to ensure the goods arrive to consumers

A

logistics management

76
Q

helps companies place orders accurately and maintain assortment of products and supplies

A

inventory management

77
Q

involves creating reports and tracking costs

A

inventory management

78
Q

best costs for inventory management

A

suppliers and vendors

79
Q

inventory is reconciled/ adjusted after

A

physical counts

80
Q

it helps discover/ survey available and sold-out items

A

inventory management

81
Q

it is what is usually considered during inventory. it includes info like its weight, color, and description

A

specifications

82
Q

this is done to maintain the assortment of products in the stock room during inventory

A

arranging/ grouping

83
Q

this is important in logistics and supply chain strategy because it helps companies achieve profit and market shares through green practices

A

green supply chain

84
Q

why is green supply chain important in logistics and supply chain strategy?

A

to achieve profit and market shares

85
Q

how companies require suppliers + distribution partners to deliver in areas of manufacturing and transportation to save money and optimize green solutions

A

green supply chain

86
Q

in a green supply chain, suppliers and distribution partners deliver in areas of

A

manufacturing and transportation

87
Q

green supply chain talks about __.

A

sustainability

88
Q

green supply chain involves:

A

procurement
distribution activities
manufacturing

89
Q

greening the supply chain:

A

ethical sourcing
manufacturing
packaging
transport
POS
customer use
reuse
end of life

90
Q
  • the info available within the supply chain
  • companies integrate + use multiple system
A

information technology

91
Q

why do companies integrate + use systems?

A

distribute info about customer orders electronically = save costs

92
Q

importance of information technology

A

helps forecast data (through modern tech)
monitor inventory levels and sales trends (no manual records)

93
Q

information technology results to:

A
  • cycle time reduction
  • quick order filling
  • inventory at the right safety stock levels
  • customer service improvements (websites to post comments for company to read)
94
Q

best practice in forecast (easy to manage, real-time data)

A

information technology

95
Q

enumerate the supply chain cycle

A
  1. supplier of raw materials needed to create a product, (purchase needed materials - produce product)
  2. distribution to different channels (help business increase market reach)
  3. dealer will purchase and sell to customers
  4. flow of money reach supplier
  5. exchange of info is necessary for flow of products to be beneficial to all
96
Q

it is needed to create a product

A

raw materials

97
Q

one who purchases products and sell to customers

A

dealer

98
Q

necessary for flow of product to be beneficial to everyone involved

A

exchange of info

99
Q

steps in supply chain cycle

A

supplier
procurement
production
distribution
dealer
customer

100
Q

encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistic management activities

A

supply chain management

101
Q

scm includes __ and __ with channel partners

A

coordination and collaboration

102
Q

integrates supply and demand management within and across companies

A

supply chain management

103
Q

represents the efforts by supply chain firms to develop and run an effective supply chains

A

supply chain management

104
Q

all activities associated with the flow and transformation of goods

A

scm

105
Q

when is scm successful?

A

getting the right product to the right customer at the lowest cost

106
Q

it touches the different supply chain activities to help maximize a company’s profit and total value

A

scm

107
Q

factors affecting SCM in HM

A
  1. the guest is GOD in HM
  2. different management systems = different implications
  3. efforts = customer oriented
108
Q

advantages of SCM

A
  • relationship (supplier-hotel) becomes stronger because of professional management (development of purchase policies)
  • leads to significant reduction in costs
  • continous evaluation and improvement in buying process
  • improved management info

3rd Year (1st Sem) (13 decks)

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