SCM QUIZ

Question 1

____is a network of facilities and distribution options that performs the functions of procurement of materials, transformation of the material into intermediate and finished products, distribution of these finished products to customers.

Answer 1

supply chain

Question 2

The network of individuals, companies,
resources, activities, and technologies
used to make and sell a product or
service.

Answer 2

SUPPLY CHAIN

Question 3

centralized management of the flow of
goods and services and includes all processes
that transform raw materials into final products.

Answer 3

SUPPLY CHAIN MANAGEMENT

Question 4

proper SCM can increase revenues, decrease
costs, deliver products to consumer faster, and
impact a company’s bottom line.

Answer 4

SUPPLY CHAIN MANAGEMENT

Question 5

organizations that make products or
services. Service providers are producers of services, and manufacturers are producers of
products. Some producers are also consumers or customers of products made by other
producers.

Answer 5

Producers

Question 6

organizations that make products or
services. Service providers are producers of services, and manufacturers are producers of
products. Some producers are also consumers or customers of products made by other
producers.

Answer 6

Producers

Question 7

Give the participants of Supply Chain

Answer 7

Producers
Distributors
Retailers
Customers

Question 8

are companies that take inventory in bulk from producers and
deliver a bundle of related product lines to customers. Distributors buffer the producers from
fluctuations in product demand by stocking inventory purchased from producers and doing
much of the sales work to find and service customer needs.

Answer 8

Distributors

Question 9

A customer may be an organization (a producer or distributor) that purchases a
product in order to incorporate it into another product that they in turn sell to their
customers (ultimate customers).

Answer 9

Customers

Question 10

They
advertise to their customers and use combinations of price, product selection, service, and
convenience as their primary draw to attract customers.

Answer 10

Retailers

Question 11

6 components in Supply Chain Management system

Answer 11

Planning
Sourcing
Making
Delivering
Returning
Enabling

Question 12

designing the supply chain intentionally, determining how the organization will measure the supply chain

Answer 12

Planning

Question 13

Selecting suppliers who will provide the goods, raw materials, or services creating the contracts that govern the suppliers, managing and monitoring existing relationships.

Answer 13

Sourcing

Question 14

reviewing and accepting raw materials, manufacturing the product, quality testing and packaging.

Answer 14

Making

Question 15

Coordinating the orders, scheduling delivery, dispatching, invoicing, receiving payments.

Answer 15

Delivering

Question 16

Supply chain managers also need to develop a network that supports returning products. In some cases, this may include scrapping or re-producing a defective product; returning a product to the warehouse

Answer 16

Returning

Question 17

Support processes to monitor information throughout the supply chain assure compliance with all regulations include finance, HR, IT, facilities, portfolio management, product design, sales, and quality assurance.

Answer 17

Enabling

Question 18

Give the key SCM Processes

Answer 18

1. Customer Relationship Management
2. Supplier Relationship Management
3. Customer Service Management
4. Demand Management
5. Order Fulfillment
6. Manufacturing Flow Management
7. Product Development and Commercialization
8. Returns Management

Question 19

Defines how a company interacts with its suppliers. As in the case of customer relationship management, a company will form close relationships with some of its suppliers, while others are less closely
cultivated.

Answer 19

Supplier Relationship Management

Question 20

Creates a structure for developing and maintaining relationships with customers. Individual customers or groups are identified, based on their value over time, and their loyalty can be enhanced by providing tailored
products and services.

Answer 20

Customer Relationship Management

Question 21

Operates at the customer interface. It provides the key point of contact for
administering the PSA and can give the customer information on orders,
shipping dates and product availability.

Answer 21

Customer Service Management

Question 22

is the process of forecasting demand to make
sure products can be reliably delivered. Effective demand planning can improve the accuracy of revenue forecasts, align inventory levels with peaks and troughs in demand, and enhance profitability for a particular channel or product.

Answer 22

Demand planning

Question 23

a systematic approach to planning, buying,
and selling merchandise to maximize the return on investment (ROI)
while simultaneously making merchandise available at the places,
times, prices, and quantities that the market demands.

Answer 23

Merchandise planning

Question 24

is a marketing technique to increase
demand for products in retail stores based on special pricing, display
fixtures, demonstrations, value-added bonuses, no-obligation gifts,
and other promotions.

Answer 24

Trade promotion planning

Question 25

Allows a company to be proactive in matching supply to demand. The process includes forecasting and synchronization of supply and demand, in order to increase flexibility and reduce demand variability. The process should employ customer intelligence, historical sales information and planned marketing efforts to forecast and influence demand.

Answer 25

Demand Management

Question 26

Process involves more than just filling orders. It includes all activities necessary to define customer requirement and to design a process that allows a company to meet customer requests, while minimizing the total delivered cost. This is not just the logistics function,

Answer 26

Order Fulfilment

Question 27

Includes all the activities necessary to move goods through production and to obtain, implement and manage manufacturing flexibility in the supply chain. Manufacturing flexibility reflects the ability to make a wide variety of products at an appropriate rate and at lowest possible cost.

Answer 27

Manufacturing Flow Management

Question 28

SCM process by which activities associated with product returns, reverse logistics, gatekeeping, and avoidance are managed within the firm and across key members of the supply chain.

Answer 28

Returns Management

Question 29

Provides the structure for developing and bringing products to market in unison with customers and suppliers. The product development and commercialization process team must coordinate with customer relationship management to identify customer articulated and unarticulated needs;

Answer 29

Product Development and Commercialization

Question 30

Benefits of supply chain management

Answer 30

- better ability to predict and meet customer demand -better supply chain visibility, risk management and predictive capabilities -fewer process inefficiencies and less product waste - improvements in quality -increased sustainability, both from a societal and an environmental standpoint - lower overhead - improvements in cash flow; and -more efficient logistics.

Question 31

SCM Entities

Answer 31

1. Products 2. Facilities 3. Vehicles 4. Routes

Question 32

It is when using ERP systems and spreadsheets for planning, companies typically rely only on historical data, resulting in little wiggle room for changes should any disruptions occur in demand or supply.

Answer 32

Make the move to real-time supply chain planning

Question 33

Connecting traditionally siloed supply chain planning to sales and operations planning and financial planning. Companies can benefit from synchronizing their short-term operational planning with their wider business planning processes to make real-time updates to inventory forecasts and supply.

Answer 33

Unify supply chain planning with enterprise planning

Question 34

Anticipating what customers want and when they want it is an ongoing challenge.

Answer 34

Anticipate the demand of the end customer

Question 35

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become large and potentially unwieldy—especially when spreadsheets are the primary planning tools.

Answer 35

Leverage real-time data across all points of the supply chain

Question 35

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become large and potentially unwieldy—especially when spreadsheets are the primary planning tools.

Answer 35

Leverage real-time data across all points of the supply chain

Question 35

Supply chain planning typically involves a myriad of suppliers, channels, customers, and pricing schemes, models can become large and potentially unwieldy—especially when spreadsheets are the primary planning tools.

Answer 35

Leverage real-time data across all points of the supply chain

Question 36

Things in demand at various facilities

Answer 36

Products

Question 37

places where products are made, stored, sold or consumed

Answer 37

Facilities

Question 38

paths taken by vehicles to move products between facilities

Answer 38

Routes

Question 39

mechanisms to move products between facilities to meet demand

Question 40

mechanisms to move products between facilities to meet demand

Answer 40

Vehicles