Supply Chain Management

Question 1

What is a supply chain?

Answer 1

Network of various supplier manufacturer, warehouses, distributors and retailers who, through coordinated plans and activities, develop products by converting raw materials to finished goods

Question 2

What is the supply chain management?

Answer 2

Set of approaches used to efficiently integrate suppliers, manufacturers, warehouses, and stores, so that product is produced and distributed in the right quantities, to the right locations at the right time.

Question 3

What are the main objectives of supply chain management?

Answer 3

Minimize operational cost and satisfy service-level requirements

Question 4

What does the SCM entails?

Answer 4

Material planning, procurement and intergration, warehouse and fulfilment, distribution, repairs and returns

Question 5

What are risks associated with SCM

Answer 5

Uncertainty, inventory, bullwhip effect

Question 6

What are factors contributing to uncertainty

Answer 6

Natural causes, man-made disruptions, govt regulations, innovations, macroeconomic s, changes at consumer level, internal factors

Question 7

What is the bullwhip effect

Answer 7

Inventory fluctuation that occur when a slight demand is magnified as information moves back upstream

Question 8

What is the bullwhip effect caused by

Answer 8

Demand forcast inaccuracies
Order batching
Price fluctuation
Rationing
Shortage gaming

Question 9

What does the bullwhip effect result in?

Answer 9

Excessive inventory investment
Poor customer service levels
In effective transport use
Misused manufacturing capacity
Lost revenues

Question 10

What are some minimization techniques for the bullwhip effect

Answer 10

Keep prices stable and eliminate promotions
Make frequent and leveled orders
Reduce dépendance on forecast
Share information with other entities

Question 11

What is supply chain sustainability?

Answer 11

Supply chain can have a significant impact on the environment and socially, since there is a rising demand for sustainability, businesses are finding ways to include it in their supply chains

Question 12

What is environmental sustainability?

Answer 12

The preservation of diverse biological systems that remain productive over time

Question 13

What is social sustainability?

Answer 13

Maintaining societies’ long-term well-being

Question 14

Which activity in supply chain has a greater impact on sustainability?

Answer 14

Transport and production

Question 15

What are some payoffs relating to adopting sustainability in an organization?

Answer 15

Financial
Customer
Operational
Organizational

Question 16

What is the most important enabler of SCM?

Answer 16

Information technology

Question 17

What information technologies make SCM possible on a global basis?

Answer 17

Ebusiness
Electronic data interchange
Bar codes
Point of sales data
Radio frequency identification
The internet

Question 18

What is SC integration and what are the major areas?

Answer 18

Level of coordination of members of a supply chain

Information sharing
Collaborative activities (planning, forecasting, replenishment, design)
Coordinated workflow (prod and ops, procurement)
Adoption of new business models and techs

Question 19

How is sc performance measured?

Answer 19

Kpi

Question 20

What are some important kpi?

Answer 20

Inventory overturn
Days of supply