Supply Chain Management Description Part 1

Question 1

It involves various participants who perform a sequence of activities in moving physical goods or services from a point of origin to a point of consumption.

Answer 1

supply chain

Question 2

Supply chain involves various _________ who perform a sequence of activities in moving physical goods or services from a point of origin to a point of consumption.

Answer 2

participants

Question 3

The APICS Dictionary defines a supply chain as “the __________ used to deliver products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.”

Answer 3

global network

Question 4

downstream order of supply chain

Answer 4

1. source supplier
2. manufacturer
3. distributor
4. retailer
5. customer

Question 5

upstream order of supply chain

Answer 5

1. customer
2. retailer
3. distributor
4. manufacturer
5. source supplier

Question 6

Key Characteristics of a Supply Chain:
- can only be formed if there are ____________ participating companies
- participating companies within a supply chain normally do not belong to the same business ownership, and hence there is a __________ in between
- companies are inter-connected on the common commitment to ________ to the steam of material flow that run through the supply chain

Answer 6

more than one, legal independence, add value

Question 7

It is simply and ultimately the business management, whatever it may be in its specific context, which is perceived and enacted from the relevant supply chain perspective.

Answer 7

supply chain management

Question 8

‘To be fully effective in today’s competitive environment, firms must expand their integrated behavior to incorporate customers and suppliers. This extension, through __________, is referred to as supply chain management.’

Answer 8

external integration

Question 9

It encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management activities.

Answer 9

supply chain management

Question 10

Supply chain management encompasses the ___________ involved in sourcing and procurement, conversion, and all logistics management activities.

Answer 10

planning and management of all activities

Question 11

Supply chain management also includes ________ and _______ with channel partners, which can be suppliers, intermediaries, third party service providers, and customers.

Answer 11

coordination, collaboration

Question 12

It integrates supply and demand management within and across companies.

Answer 12

supply chain management

Question 13

Any supply chain management practice and activities is captured by the three conceptual components which are: _________, ________, and ________.

Answer 13

supply chain configuration, supply chain relationship, supply chain coordination

Question 14

It is about how a supply chain is constructed from all its participating firms. This includes how big is the supply base for OEM; how wide or narrow is the extent of vertical integration; how much of the OEM’s operations are outsourced; how the downstream distribution channel is designed; and so on.

Answer 14

supply chain configuration

Question 15

It is also known as supply chain architecture.

Answer 15

supply chain configuration

Question 16

The decision on _________ is strategic and at a higher level.

Answer 16

supply chain configuration

Question 17

It is about inter-firm relationships across the supply chain albeit the key focus of relationship is often around the OEM and its first-tier suppliers and first tier customers and the relationship in between.

Answer 17

supply chain relationship

Question 18

In a supply chain relationship, the type and level of the relationship is determined by the contents of __________.

Answer 18

inter-organizational exchanges

Question 19

type of relationship given that they only exchanged the volume and price of the transaction

Answer 19

arm’s length

Question 20

type of relationship given that the parties exchanged their vision, investment planning, NPI process and detailed financial information

Answer 20

close partnership

Question 21

The decision on _________ is both strategic and operational.

Answer 21

supply chain relationship

Question 22

It refers mainly to the inter-firm operational coordination within a supply chain.

Answer 22

supply chain coordination

Question 23

It involves the coordination of continuous material flows from the suppliers to the buyers and through to the end-consumer in a preferably JIM manner.

Answer 23

supply chain coordination

Question 24

_________ throughout the supply chain could be a key focal point for the supply chain coordination.

Answer 24

inventory management

Question 25

The decision on the _______ tends to be operational.

Answer 25

supply chain coordination

Question 26

As global competition increases and businesses extend their reach into foreign markets, they become more dependent on their supply chains. A supply chain depends on the _______ of each of these participants.

Answer 26

continued profitability

Question 27

difference between revenue and costs

Answer 27

total profit

Question 28

Regardless of the means taken to achieve business goals, all firms need to synchronize the flows of _____, _______, and _____.

Answer 28

products, information, funds

Question 29

Supply Chain Management Today - Development Trends

Answer 29

- functional to process perspective - operational to strategic viewpoint - single enterprise to extended enterprise - transactional to relationship-based engagement - local to regional, and regional to global

Question 30

Supply Chain Management Tomorrow - Obstacles to Supply Chain Integration

Answer 30

- need for globalization - complexity of arranging entities with common interests - lack of effective interorganizational systems - need for multiple supply chains within companies - lack of trust between participants

Question 31

It is the supply chain for just one part used in a product.

Answer 31

pipeline

Question 32

The Four Intrinsic Flows of a Supply Chain

Answer 32

- Material Flow - Information Flow - Finance Flow - Commercial Flow

Question 33

from the raw materials at the beginning of the supply chain to the finished products at the end of the supply chain

Answer 33

material flow

Question 34

the money flow or the blood stream of a supply chain

Answer 34

Finance Flow

Question 35

the transactional process of buying and selling shifts the material flow's ownership from the supplier to the buyer repeatedly until the end of the supply chain - the end-consumer

Answer 35

Commercial Flow

Question 36

Supply chain management is concerned with the efficient integration of suppliers, factories, warehouses and stores so that merchandise is produced and distributed:

Answer 36

- in the right quantities - to the right locations - at the right time