Lesson 1: SUPPLY CHAIN

Question 1

• Includes those various firms included in the execution of the activities needed to produce and transport a product or service to consumers or industrial users.
• Comprises supplies that provide raw materials to a producer, wholesalers and retailers that distribute finished goods to consumers.

The main goals focus on shared efficiency, optimized transportation and utilization, quality improvement and long-term stability:
1. Collaborative effort for efficiency
2. Maximized transportation and
logistics
3. Quality enhancement
4. Long term stability and relationship

Answer 1

Supply Chain

Question 2

This will allow companies to prioritize their marketing focus on different customer groups based on each group’s long term value to the company or supply chain.

Answer 2

Customer Relationship Management

Question 3

This is a multi-company, unified system of responding to customer’s complaints, concerns, questions or comments.

Answer 3

Customer Service Management

Question 4

this process tries to align supply and demand throughout the supply chain by foreseeing customer requirements.

Answer 4

Demand management

Question 5

this engages in generating, filling, delivering, and providing on-the-spot service for customer’s orders.

Answer 5

Order-fulfilment

Question 6

this ensures that firms in the supply chain have the necessary resources to produce with flexibility.

Answer 6

Manufacturing flow management

Question 7

this provides structural support for developing and maintaining good relationships especially with highly valued suppliers in order to gain performance advantages.

Answer 7

Supplier Relationship Management

Question 8

This facilitates the joint development and marketing of new products and services among a group of supply chain partner firms.

Answer 8

Product development and commercialization

Question 9

This enables to manage volumes of returned product efficiently while maximizing related costs.

Answer 9

Returns Management