Supply Chain Management

Question 1

It includes payment schedules, credit terms, and additional arrangements

Answer 1

Financial flow

Question 2

It is a place where inventory is stored, manufactured or assembled

Answer 2

Facility

Question 3

It determines how much a firm will charge for the goods and services that it makes available in the supply chain

Answer 3

Pricing

Question 4

Its objective is to link the marketplace, distribution network, manufacturing, and procurement activities in a manner that delivers exceptional customer service at the most reasonable cost

Answer 4

Supply Chain

Question 4

It is slow and prone to errors due to duplication of data entries during various stages of the purchasing process

Answer 4

Manual Purchasing System

Question 5

Wholesalers and retailers who purchase for resale

Answer 5

Merchants

Question 6

It includes the smooth flow of an item from the producer to the customer

Answer 6

MATERIAL FLOW

Question 7

Manufacture quality products at the lowest imaginable controllable cost, in order to deliver volume targets

Answer 7

Plant Management

Question 8

It consists of all raw materials; work in progress, finished goods within the supply chain

Answer 8

Inventory

Question 9

It is the choice of who will perform a particular supply chain activity, such as production, storage, transportation, or the management of information

Answer 9

Sourcing

Question 10

Focuses on converting raw materials into finished products

Answer 10

Manufacturing

Question 11

It ambitiously sought sustainable growth, with a goal of doubling its revenue using half its environmental footprint by 2020. Its supply chain program is designed to determine the right level of services and marketing support each channel requires to enable profitable growth

Answer 11

Unilever

Question 12

Involves an assessment of multiple key areas that impact the full Sourcing and Procurement spectrum

Answer 12

Spend Management

Question 13

Focuses on the raw materials supplied to manufacturing, including how, when, and from what location

Answer 13

Supply

Question 14

Supply chain management can be divided into 3 main flows

Answer 14

• Product
  -Information
  -Financial

Question 14

It was developed in the 1970s to improve the purchasing process

Answer 14

Electronic Data Interchange (EDI)

Question 14

It is an ideal option for business striving toward minimizing their carbon footprint

Answer 14

SUSTAINABLE PROCUREMENT

Question 14

It includes moving goods from supplier to customer, as well as dealing with customer service needs

Answer 14

Product Flow

Question 14

The e-procurement system eliminates these tasks to streamline the procurement process

Answer 14

labor-intensive and time-consuming tasks ( or non-value adding activities)

Question 14

A well-defined strategy that entails procuring products and services from an expansive range of international suppliers

Answer 14

Global Sourcing

Question 14

Focuses on ensuring that the products reach the consumer through an organized network of distributors, warehouse and retailers

Answer 14

Distribution

Question 15

Supply management is also known as?

Answer 15

Procurement

Question 16

Defines Supply Chain Management as the “identification, acquisition, access, positioning, management of resources and related capabilities the organization needs or potentially needs in the attainment of its strategic objectives.”

Answer 16

Institute for Supply Management

Question 17

Purchase raw materials for convention, services, capital equipment and operating supplies

Answer 17

INDUSTRIAL BUYERS

Question 18

It is where individual, local purchasing departments, such as at the plant level, make their own purchasing decision

Answer 18

DECENTRALIZED PURCHASING

Question 19

It measures the impact of a change in purchase spends on firm’s profit before taxes, assuming gross sales and other expenses remain unchanged

Answer 19

Profit-Leverage Effect of Purchasing

Question 20

Financial ratio of a firm’s net income in relation to its total assets

Answer 20

Return on Assets

Question 21

Decisions at this level of SCM activities, affect how the products move along the supply chain

Answer 21

Operational

Question 22

An art of management of providing the right product, at the right time, right place, and at the right cost to the customer

Answer 22

SUPPLY CHAIN MANAGEMENT

Question 23

It involves moving inventory from one point in the supply chain to another point

Answer 23

Transportation

Question 24

It is a useful model that identifies three key features of e-business that are enabled through technology, as an extension of the traditional 4P’s marketing model

Answer 24

Marketing Model

Question 25

It describes supply chain management as: The design and management of seamless, value added process across organizational boundaries to meet the real needs of the end customer

Answer 25

Institute for Supply Management (ISM)

Question 25

Purchasing structure can be viewed as a __________, with centralization at one extreme decentralization at the other

Answer 25

Continuum

Question 25

The difference between the supply chain cost and revenue generated

Answer 25

Supply Chain Surplus or Profitability

Question 26

This involves the gathering of facts, data, observation and trends about the marketplace in which suppliers conduct business

Answer 26

Supply Market Analysis