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Supply Chain Management > Modules 1-5 > Flashcards

Modules 1-5 Flashcards

1
Q

It allows suppliers,
manufacturers, distributors,
retailers, and customers to reduce lead time,
paperwork, and other
unnecessary activities

A

Technological Advancement

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2
Q

It made communication tools easier for users, allowing its presence in components to extend in the supply chain.

A

Communication

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3
Q

Supply chain management planning
tools are intended to integrate the
resource planning activities in a firm or
organization.

A

Planning and Analysis

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4
Q

What are the most
common planning tools?

A

Material
requirement planning (MRP), Manufacturing resources planning
(MRPII), and Enterprise Resource Planning (ERP).

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5
Q

Directly related
to relationship management,
which includes suppliers and customers.

A

Management

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6
Q

It leads to significant reduction in costs and also helps continuous evaluation and improvement in the buying process.

A

Inventory Control

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7
Q

Companies are inclined to work with different suppliers in different
ways.

A

Supply Chain Relationships

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8
Q

Commodity processes or products that already exist; you only have to
use smart modifications and apply them.

A

Value-added Process (Manufacturing)

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9
Q

Two factors are significant when we talk about value-added:

A

Flexibility and Quality

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10
Q

Transfer the products from one stage of the supply chain to the end user count much.

A

Transportation

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11
Q

Time-to-consumer is a crucial indicator of product flow
efficiency. The less time it takes for goods to reach the end customer, the more efficient the
product flow.

A

Improved product and material flow.

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12
Q

Help them
evaluate the quality of information
sharing, then implement solutions to
best fill the gaps.

A

Seamless Information Flow

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13
Q

Leads to significant
reduction in costs and also helps continuous
evaluation and
improvement in the buying process.

A

Enhanced Financial Flow

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13
Q

The relationship between the supplier and hotel becomes stronger because of professional
management in the form of development of proper purchasing
policies.

A

Better Relationship with
Suppliers

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14
Q

Inter-firm operational coordination. It
involves coordination of material flow from supplier to buyers
and to end-consumers.

A

Supply Chain Coordination

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15
Q

Inter-firm relationship in the supply chain focusing
around on the OEM – Original Equipment Manufacturer and
first tier of supplier and first tier customer.

A

Supply Chain Relationship

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16
Q

How the supply chain is constructed from all its
participating firm.

A

Supply Chain Configuration

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17
Q

Everyone involved in the manufacturing process
communicates and collaborates. Instead of functioning in separate
divisions, or silos, integrated teams work together to make sure
the product gets to the distribution phase.

A

Integration

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18
Q

The day-to-day activities in the company must be
managed properly. Keeping a strong supply chain, day-to-day
operations are the backbone of the work manufacturers do.

A

Operations

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19
Q

The area of supply chain management that makes
sure a company has everything it needs to manufacture products,
including materials, supplies, tools and equipment.

A

Purchasing

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20
Q

The supply chain ends when the product lands
on store shelves where customers can buy them or their front door
(if they purchase them online).

A

Distribution

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21
Q

Prevent the intent and
appearance of unethical
or compromising
conduct in relationships,
actions, and
communications.

A

Impropriety

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22
Q

Ensure that any personal,
business, or other activity
does not conflict with the
lawful interests of your
employer.

A

Conflicts of Interest

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23
Q

Avoid behaviors or
actions that may
negatively influence, or
appear to influence,
supply management
decisions

A

Influence

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24
Q

Uphold fiduciary and
other responsibilities
using reasonable care
and granted authority to
deliver value to your
employer

A

Responsibilities to
Your Employer

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25
Q

Protect confidential and
proprietary information

A

Sustainability and
Social Responsibility

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26
Q

Protect confidential and
proprietary information

A

Confidential and
Proprietary Information.

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27
Q

Avoid improper
reciprocal agreements.

A

Management &
Reciprocity.

28
Q

Know and obey the letter
and spirit of laws,
regulations, and trade
agreements applicable to
supply management

A

Applicable Laws,
Regulations, and Trade
Agreements.

29
Q

Develop skills, expand
knowledge, and conduct
business that demonstrates
competence and promotes
the supply management
profession

A

Professional
Competence.

30
Q

Part of a supply chain involved
with the forward and reverse flow of
goods, services, cash, and information.

A

Logistics

31
Q

Includes
management of inbound and outbound
transportation, material handling,
warehousing, inventory, order
fulfillment and distribution, third-party
logistics, and reverse logistics (the
return of goods from customers).

A

Logistics Management

32
Q

Set of firms that supply raw
materials, components, parts,
information, finances and
expertise needed to create a
product and/or service.

A

Upstream Partners

33
Q

Marketing channels (or
distribution channels) partners,
such as the wholesalers and
retailers which forms the vital
connection between the firm
and the customers.

A

Downstream Partners

34
Q

All manufacturing supply
chains have raw materials flow from the raw
materials at the beginning of the supply chain
to the finished product at the end of the chain.

A

Material Flow

35
Q

All supply chains have and
make use of – such as demand
information flow, forecasting information flow,
product information flow, design and scheduling
information flow and new product information
flow.

A

Information Flow

36
Q

Basically it is the blood stream of any
supply chain.

A

Financial Flow

37
Q

The materials flow
run through the supply chain, changes its ownership from one
company to another, from supplier to buyer.

A

Commercial Flow

38
Q

A practice of placing a purchase order to a
supplier for a product that’s temporarily out
of stock in your warehouse and has already
been ordered by your customers.

A

Back ordering

39
Q

A shipping document showing the type of goods, their
quantity, and the destination address. It is required
whenever goods are transported from one point to
another, whether you ship them by land, sea or air.

A

Bill of Lading

40
Q

A method in which the buyer will agree to buy a certain
quantity of one or more items over an agreed-upon
period of time without specifying their exact
shipment dates at the time of purchase.

A

Blanket Order

41
Q

Means the act of placing your goods in the care of a
third-party warehouse owner (known as the consignee)
who maintains them for a fee.

A

Consignment

42
Q

A method of cost lot
tracking where items are valued and sold in
the order they were purchased.

A

First In, First Out

43
Q

A method of cost lot
tracking where your most recent purchases
are sold first.

A

Last In, First Out

44
Q

An item that is dismantled into two or
more parts in order to facilitate easier
transportation. These parts will then be
put together before delivery.

A

Knocked Down

45
Q

A document prepared by the seller, on behalf of
the carrier, that specifies the shipment’s point of
origin, the details of the transacting parties (the
buyer and seller), the route, and the destination
address.

A

Waybill

46
Q

4 Major Drivers of SC

A

Facilities
Inventories
Transportation
Information

47
Q

5 Stages in Developing SC

A
  1. Plan
  2. Source
  3. Make
  4. Deliver
  5. Return
48
Q

3 Elements of Rational Decision Making

A

Conceptualization
Information
Prediction

49
Q

A process of selecting the best option or course of
action based on a careful and logical evaluation
of the costs, benefits, and risks associated with
each potential choice.

A

Rational Decision Making

50
Q

Concentration of authority at the top level is known as

A

Centralization

51
Q

Evenly and
systematic distribution of authority at all levels is known as

A

Decentralization

52
Q

Personal traits like preferences,
intellectual maturity experience, educational standard, social and
religious designation and status etc., of the person responsible for
the decision-making also exert great influence on decision-making.

A

Psychological Element

53
Q

Decisions must be taken at the appropriate time keeping in
view the prevailing conditions.

A

Timing of Decisions

54
Q

When a particular decision has been taken it must be
communicated properly in time to the persons concerned.

A

Communication of Decisions

55
Q

It arouses the feeling of oneness with the company and the
decisions taken are considered as superior.

A

Participation of Employees

56
Q

Aligning supply and distribution with organizational
strategy and deciding on the degree to which outsourcing will be employed.

A

Supply chain strategy alignment

57
Q

Determining the number and location of suppliers, warehouses,
production/operations facilities, and distribution centers.

A

Network configuration

58
Q

Integrating systems and processes throughout the supply chain to
share information, including forecasts, inventory status, tracking of shipments, and events

A

Information technology

59
Q

Making decisions on new product and services selection and design.

A

Products and services:

60
Q

Assessing long-term capacity needs, including when and how
much will be needed and the degree of flexibility to incorporate.

A

Capacity planning

61
Q

Partnership choices, level of partnering, and degree of
formality.

A

Strategic partnerships

62
Q

Deciding whether to use centralized or decentralized
distribution, and deciding whether to use the organization’s own facilities and equipment for
distribution or to use third-party logistics providers.

A

Distribution strategy

63
Q

Identifying potential sources of risk and
deciding the amount of risk that is acceptable.

A

Uncertainty and risk reduction

64
Q

Tactical Responsibility of Management

A
  1. Forecasting: Prepare and evaluate forecasts.
  2. Sourcing: Choose suppliers and some make-or-buy decisions.
  3. Operations planning: Coordinate the external supply chain and internal operations.
  4. Managing inventory: Decide where in the supply chain to store the various types of
    inventory (raw materials, semi-finished goods, finished goods).
  5. Transportation planning: Match capacity with demand.
  6. Collaborating: Work with supply chain partners to coordinate plans
65
Q

Operational Responsibilities of Management

A
  1. Scheduling: Short-term scheduling of operations and distribution
  2. Receiving: Management of inbound deliveries from suppliers
  3. Transforming: Conversion of inputs into outputs.
  4. Order fulfilling: Linking production resources and/or inventory to specific customer orders.
  5. Managing inventory: Maintenance and replenishment activities.
  6. Shipping: Management of outbound deliveries to distribution centers
    and/or customers.
  7. Information sharing: Exchange of information with supply chain
    partners.
  8. Controlling: Control of quality, inventory, and other key variables and
    implementing corrective action, including variation reduction, when necessary.
66
Q

The
acquisition of goods and services at the best possible price, in the right
quantity and at the right time.

A

Procurement

67
Q

Is the sequence of organizations—their
facilities, functions, and activities— that are involved in
producing and delivering a product or service.

A

Supply Chain

68
Q

Is the network of activities of all the
individuals, organizations, resources, activities
and technology involved in the creation and
sale of a product, from the delivery of source
materials from the supplier to the
manufacturer, through to its eventual delivery
to the end user.

A

Supply Chain Management

Supply Chain Management (1 decks)

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