HM08 Quiz Flashcards
1
Q
This has intermediaries and is only effective if the process is followed
A
Supply Chain
2
Q
What are the intermediaries in the Supply Chain?
A
wholesaler + retailer
3
Q
It involves activities such as sourcing, delivery, repair, and material control operations.
A
Supply Chain Management
4
Q
This involves marketing, manufacturing of new products, finance, and customer support.
A
Supply Chain Management
5
Q
The Supply Chain Management focuses on activities such as (4)
A
- Sourcing
- Delivery
- Repair
- Material Control Operations
6
Q
In SCM, before sourcing there should be a ____.
A
need
7
Q
It means looking for something or for an initial supplier (3-5 suppliers)
A
Sourcing
8
Q
It is usually done through bidding or invitation.
A
Sourcing
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
10
Q
It is a network of suppliers, manufacturers, assemblers, supply and delivery centers, and logistic installations
A
Supply Chain
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
12
Q
SC performs functions such as _____, _____, and ___ to buyers of those materials of an intermediate/ finished product.
A
material sourcing
processing
shipment
13
Q
It refers to the supply and delivery centers
A
Wholesalers
14
Q
These are the persons involved in SCM
A
Supply Chain
15
Q
It is a lineup of companies that market goods/ services.
A
Supply Chain
16
Q
All stages (directly/ indirectly) involved in the fulfillment of a consumer order have _____.
A
Supply Chain
17
Q
TRUE/ FALSE: Not only manufacturers but also shipping providers, warehouses, dealers, and consumers themselves are involved in the supply chain.
A
TRUE
18
Q
TRUE/ FALSE: Only manufacturers are involved in the supply chain.
A
FALSE (only manufacturers- also shipping providers, warehouses, dealers, and consumers)
19
Q
Who are the ones involved in the Supply Chain?
A
Manufacturers
Shipping providers
Warehouse
Dealers
Consumers
20
Q
TRUE/ FALSE: The supply chain starts once the process is completed.
A
FALSE (starts- ends)
21
Q
It ends once the process is completed (consumer received service)
A
Supply Chain
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
23
Q
Six (6) essential features of SCM:
A
- Integrated Behavior
- Mutually sharing information
- Mutually sharing channel risk and rewards
- Cooperation
- Focus on serving customers
- Integration Process
- Partners to build and maintain a long-term relationship
24
Q
SCM integrates stakeholder integration between the client and provider.
A
Integrated Behavior
25
For planning and surveillance processes, an efficient SCM exchange of information between channels of participants is needed.
Mutually sharing information
26
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
Mutually sharing channel risk and rewards
27
SCM integrates _____ between the client and provider.
stakeholder integration
28
For___ and ___ processes, an efficient SCM exchange of information between channels of participants is needed.
planning and surveillance
29
An effective SCM often includes ____ and ____ to have a competitive benefit.
reciprocal channel risks and incentives
30
The successful SCM requires ____ between the channel participants.
Cooperation
31
It refers to the company's coordinated, identical, or complementary operations in an enterprising relationship, in order to achieve collectively reckoned, superior results.
Cooperation
32
SC is effective where all supply chain members serve consumers with the same objective and concentration.
Focus on serving customers
33
A mode of policy convergence has the same aim and focal point for SC members.
Focus on serving customers
34
TRUE/ FALSE: SC is effective where all supply chain members serve consumers with different objectives and concentrations.
FALSE (different- the same)
35
A mode of _____ has the same aim and focal point for SC members.
policy convergent
36
Implementing SCM requires the convergence of systems from the supply chain to production and delivery.
Integration Process
37
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.
Partners to build and maintain long-term relationships
38
The integration process is possible if the chain members have a clear culture and strategies.
Partners to build and maintain long-term relationships
39
Implementing SCM requires the ___ from the supply chain to production and delivery.
convergence of systems
40
What is the objective of a successful partnership?
merge channel policies
41
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
42
The long-term emphasis and coordination between SC participants should be ____ and ____.
risk-sharing
reward-sharing
43
supply chain phenomenon in which there are inefficiencies in forecast and supply chain
bullwhip effect
44
why are there inefficiencies in forecast and supply chain according to the bullwhip effect?
demand for goods is based on demand forecasts than actual consumer demand
45
demand of goods should be based on __.
actual consumer demand (precise forecast)
46
to get actual demand forecast:
Based on last year's sales
47
occurs when companies significantly cut/ add inventories
bullwhip effect
48
why bullwhip?
small increase in demand causes a BIG snap in the need for materials in SC
49
what is considered a demand forecast?
predictions
50
reduces costs during manufacturing
leads to cost and value for customers
procurement management
51
used in logistics and supply chain to support the operational needs of the company
procurement management
52
procurement is used in __ and supply chain to support the operational needs of the company
logistics
53
procurement management is used in logistics and supply chain to support the operational needs of the company by focusing on:
how purchasing is done
how products are received
build relationships with vendors and manage the procurement process by identifying opportunities
54
sourcing supplies =m
building relationships
55
goal of procurement management
less costs
56
less cost in procurement leads to:
best value
(cheap raw materials, low price for final product)
57
T/F: distribution management is related to SCM
F (distribution- procurement)
58
procurement vs. purchase
procure- entails several processes; don't purchase right away
purchase- part of the procurement process
59
what is procurement management about
sourcing
60
get the right goods, to the right customers, at the right time
distribution management
61
activities included in the distribution
what type of transpo used?
are there distributors/wh retailers/ direct sellers?
62
what is the distribution management about
intermediaries
63
how is distribution management used as a strategy?
minimize transport costs required to move goods from its networks of suppliers the company- for CONSOLIDATION- before being sent
64
in distribution, there should be a __
network
65
companies have __ to mediate from company to end consumers (distributors/ retailers)
intermediaries
66
T/F: the distribution process has a domino effect
T
(one delay in any process can cause delays)
67
distribution has to be effective =
delays affect fast-track delivery
68
important among the current practices in SC
demand of goods is based on customer need
69
sic (6) current practices in the supply chain
1. procurement management
2. distribution management
3. logistics management
4. inventory management
5. green supply chain
6. information technology
70
focus on areas like transportation management + picking orders
logistics management
71
cost structure improvements and higher revenue flow
logistics management
72
reduction in transport cost if all operations are STREAMLINED correctly
logistics management
73
transportation management comprises of:
land
air
water
74
it entails what mode of transport and order (usually done through websites/ internet/ search engines)
logistics management
75
refers to what to use to ensure the goods arrive to consumers
logistics management
76
helps companies place orders accurately and maintain assortment of products and supplies
inventory management
77
involves creating reports and tracking costs
inventory management
78
best costs for inventory management
suppliers and vendors
79
inventory is reconciled/ adjusted after
physical counts
80
it helps discover/ survey available and sold-out items
inventory management
81
it is what is usually considered during inventory. it includes info like its weight, color, and description
specifications
82
this is done to maintain the assortment of products in the stock room during inventory
arranging/ grouping
83
this is important in logistics and supply chain strategy because it helps companies achieve profit and market shares through green practices
green supply chain
84
why is green supply chain important in logistics and supply chain strategy?
to achieve profit and market shares
85
how companies require suppliers + distribution partners to deliver in areas of manufacturing and transportation to save money and optimize green solutions
green supply chain
86
in a green supply chain, suppliers and distribution partners deliver in areas of
manufacturing and transportation
87
green supply chain talks about __.
sustainability
88
green supply chain involves:
procurement
distribution activities
manufacturing
89
greening the supply chain:
ethical sourcing
manufacturing
packaging
transport
POS
customer use
reuse
end of life
90
- the info available within the supply chain
- companies integrate + use multiple system
information technology
91
why do companies integrate + use systems?
distribute info about customer orders electronically = save costs
92
importance of information technology
helps forecast data (through modern tech)
monitor inventory levels and sales trends (no manual records)
93
information technology results to:
- 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
best practice in forecast (easy to manage, real-time data)
information technology
95
enumerate the supply chain cycle
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
it is needed to create a product
raw materials
97
one who purchases products and sell to customers
dealer
98
necessary for flow of product to be beneficial to everyone involved
exchange of info
99
steps in supply chain cycle
supplier
procurement
production
distribution
dealer
customer
100
encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistic management activities
supply chain management
101
scm includes __ and __ with channel partners
coordination and collaboration
102
integrates supply and demand management within and across companies
supply chain management
103
represents the efforts by supply chain firms to develop and run an effective supply chains
supply chain management
104
all activities associated with the flow and transformation of goods
scm
105
when is scm successful?
getting the right product to the right customer at the lowest cost
106
it touches the different supply chain activities to help maximize a company's profit and total value
scm
107
factors affecting SCM in HM
1. the guest is GOD in HM
2. different management systems = different implications
3. efforts = customer oriented
108
advantages of SCM
- 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
