(Select all that apply.). They are trying hard to deliver value-added processes in producing a high-quality product at maximum efficiency in the hope to increase their bottom line. Which of the choices below is not one of the three broad types of customer classifications that can be used to help a company properly segment its supply chain? AKA: lean production, requires manufacturers to work closely with suppliers and transportation providers to get necessary items to the assembly line or factory floor at the precise time they are needed for production. A company is currently using lean value fulfillment. What type of warehouse has the advantages of economies of scale, minimizing labor disputes, and letting experts run the warehouse? -Also known as the Logistics phase, this is the part of supply chain management that oversees the planning and execution of the forward flow of goods and related information between various points in the supply chain to meet customer requirements. The need for supply chain management increases as globalization increases.TRUE True Upload your study docs or become a Course Hero member to access this document Continue to access End of preview. Which enterprise system facilitates an organization working more effectively with its supplier pool? Ans. ut the four basic steps in the supplier selection process in the correct order. Why Do You Need To Know About Supply Chain Management (SCM)? The move to lean and then responsive value creation requires a paradigm shift from a _______ mentality to a customer ________ mentality. A scorecard that is balanced typically includes which of the following? Learn vocabulary, terms, and more with flashcards, games, and other study tools. The primary objective of logistics management is to move the inventory in a supply chain effectively and efficiently to extend the desired level of customer service at the least cost as done parallel with waste management. decisions in warehouse location. Let's have a sneak-peek into some high-level supply chain management goals. -Intense global competition - enter concepts for quality, inventory management & development of alliances. Which measurement would likely rise if the supply chain team secured a supplier that provided a new, popular technology to include in the company's product? In other words, the process allows companies in the supply chain to satisfy customers in the most efficient/effective way possible. Supply Chain Operations Research Model: Return. safari redirect virus iphone; accenture middle east; lee women's comfort knit straight leg pant. Transportation management. Carriers will offer better rates if clients give them revenue miles in ______________. Warehouse services. _____are low in value but often have complex specifications or custom design and, therefore, they require a unique buying process that can be costly or difficult to manage. Select the information that is needed to determine the capacity forecast, which is a part of the supply review. A supply chain is 3 or more companies directly linked by the upstream and downstream flows of materials, energy, money, people, and information from a source to a customer. Staying motivated is the key to achieving your career . As you approach the runway, you notice runway centerline lights. Which of these actions will most directly lead to more cash on hand for an organization? Firms with flexible manufacturing have the ability to create a wide variety of goods with minimized costs associated with changing production techniques. How Do You Do Supply Chain Management (SCM)? What part of the Supply Chain Operations Reference (SCOR) model involves purchasing materials or services? To achieve this, the following subsets of the above broader objective need to be . What is the primary reason that mergers and acquisitions fail? If a technology company wanted to become world renowned for its customer service, which type of benchmarking might it use to gather data? Which type of product profile would typically require a company to hold less inventory on hand? -Focus was on mass production techniques as their principal cost reduction and productivity improvement strategies. Necessitating closer integration and collaboration, Cost Reduction and Continuous Improvement, Reducing purchasing costs, waste, excess inventory & non-value added activities. Becoming more efficitient and effective. 1. customer relationship management 2. customer service management 3. demand management 4. order fulfillment 5. manufacturing flow management 6. supplier relationship management 7. product development and commercialization 8. returns management How many Rights are in the "R's Rule" of supply chain management? Improving demand planning. Traditional Production Scheduling and Mass customization (build-to-order). A company can create a competitive advantage by reducing the cost of its products or services, or by differentiating its products or services from those of its competitors. (RFID chips), an entire group of individuals who orchestrate the movement of goods, services, and information from the source to the consumer. Managers can maximize strengths and efficiencies at each level of the process to create a highly competitive, customer driven supply system that is able to respond immediately to changes in supply and demand. Overall, supply chain operations should have the following objectives; - Value creation. Both a communicator and physical flow process. supports manufacturing flow by identifying and maintaining relationships with highly valued suppliers. Why Is It Important To Control The Supply Chain Quizlet? The top five supply chain management goals include the following: Ensure efficiency; Optimize and standardize logistics; Focus on improving quality; Increase . How can a supply chain positively affect the finances of a business? Introduction of MRP & MRPII, A method of determining what materials are needed and when they are needed to support the production plan, A method for the effective planning of all resources of a manufacturing company. B.dose not integrate well with functional areas other The basic purpose of supply chain management is to: a. create an exclusive set of suppliers who will not supply your competitors b. link your customers together so the flow of materials remains under control c. synchronize the operations of all suppliers with those of purchasing, production, distribution and customers Setting goals for improvement projects. material preservation and security. Invented by Malcolm McLean it reduced handling cost by 97%, Supply chains are generally described as spanning from end-to-end, i.e., from your suppliers-suppliers on one end, through your internal operations, and out to your customers-customers on the other end, Supply Chain Operations Research Model: Plan, -Planning establishes the parameters within which the supply chain will operate, Supply Chain Operations Research Model: Source, -Sourcing is the process of identifying the suppliers that provide the materials and services needed for the supply chain to deliver the finished product(s) desired by the customer(s), Supply Chain Operations Research Model: Make. Electronic linkages help to ensure large businesses and SMBs can more efficiently and effectively execute procurement and fulfillment processes? the process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumtion, the link that connects all the logistics functions of the supply chain. These organizations are referred to collectively as the supply chain. The owner (client) should not be a member of the team. Values reflect what the organization believes. A basic supply chain is the flow of products & services from: -Managing all the steps involved in bringing a product to market. Tend toward regional solutions that provide balance agility and responsiveness which still providing the opportunity to scale costs and take advantage of labor arbitrage, Which of the following technologies are seen as potentially revolutionary for manufacturing operations? Definition. Which of the choices would be the preferred cash conversion cycle? If average daily demand for a product is 5 units and average lead time for an order to arrive is 7 days, what is the reorder point (ROP) for the product? Which of the choices below is not one of the ways that companies can use to foster an integrated approach to supply chain management? Throughput _ refers to the What are the eight critical business processes on which supply chain managers must focus on? ), effectiveness, efficiency, and adaptability; the ultimate goals of supply chain management is to make high quality products and services in a timely fashion that meet the changing needs of customer and do so in a way that utilizes as few resources as possible, defects, overproduction, transportation, motion, waiting, inventory, over-processing, understanding the product/service and the markets desires, using a business model, organizing the right group of partners, supply chain metrics, information technology tools to collect, organize, and report data to supply chain managers, relationship management skills, financial resources, and organizational integration, Operations Management: Sustainability and Supply Chain Management, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine. Incoming replenishment shipments are preassigned to actual demand orders, so that as soon as a product arrives in the facility it is already assigned to an order. ___________ risks are more about behaviors or perceptions of individuals that can negatively impact the IT solution in question. Identify from the following list a major strategic risk associated with outsourcing. Supply Chain Operations Research Model: Enable. False. For a company that builds ships for cruise lines, which type of supply chain fulfillment model would typically make most sense? The supply chain career planning process is very similar to setting goals. Posted at 23:45h in 1920s dress plus size by wordpress technology stack. Which ERP vendor entered the enterprise system market nearly 30 years after the first solution was introduced? The purpose of a _________ is to observe and document everything he/she sees. implementation of engineering projects critical to the manufacture of new products. Demand forecasting can be done via a variety of sophisticated techniques, Companies are focused on risk mitigation to offset business volatility. Theoretical capacity includes which of the following items? ), Which of the following are examples of disruption impacts? How much energy can be saved when cans are recycled through closed-loop systems? Supply Chain Must Be Aligned With Business Strategy. But there's much more power in integrating that information into your real-time . Warehouses were once relegated to the outskirts of cities, but companies are now reexamining the economics of locating warehouses in city centers to provide increased responsiveness to customers. product-focused push, demand-focused pull. Which of the following is the most important "right" of purchasing? In most cases, demand for a product and the company's ability to produce are not_____, During the DSI process, if a business concludes that there is more demand in the marketplace than there is capacity in the supply chain for a particular product, the business's reasonable action(s) would be to_____, In a business-to-business environment, a customer's demand plan should serve as input to the supplier's_____, Plan-driven forecasting occurs when the firm's financial goals have an inordinate influence on the firm's_____. Top Five Goals and Objectives of Supply Chain Management. Supply chain risks can only be effectively mitigated by managing risk at each node in the supply chain, Firms need to be more flexible and responsive to customer needs, adapting to unexpected changes. T ime-bound. View Test Prep - SCM quiz.xlsx from SCM-2020 MISC at Sullivan University. One of the major challenges of supply chain management is answer choices forward buying maintaining the visibility of inventory building safety-stock inventory Pushing inventory back to vendors Question 16 30 seconds Q. warehouse design. Energy costs are significant in the processing of aluminum into beverage cans. 6. What is the Main Goal of Supply Chain Management? It represents a conscious effort by the supply chain firms to develop and run supply chains in the most effective & efficient ways possible. Which executive should lead the reconciliation review step in DSI? How does supply chain management create value? concerned with ensuring that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process. Why is manufacturing referred to as the "center" of the supply chain? can create additional revenues for firms. It is believed that by studying the management process, you are increasing your effectiveness as a manager. Most primary goals of efficient supply chain management should be - faster delivery, Higher efficiency, and an accelerated cash flow. Using S.M.A.R.T., these state that all goals should be. Production scheduling based on pushing a product down to the consumer has disadvantages: 1. sourcing and procurement of raw materials and supplies. Either transactional or relational contract depending upon the goal. The "Great Divide" in supply chain management occurs between: demand-generating activities and demand-fulfilling activities. For a manufacturing company buying steel on the commodity market, what would likely be the best relationship approach? kipling monkey names and colours. September 2, 2022; cheap gold necklaces near berlin; 4 prong diamond earring setting -Enabling processes facilitate a company's ability to manage the supply chain and are spread throughout every stage. A supply chain is a network of businesses that interact with one another to create a common goal or goal of buying goods or services. Demand uncertainty is the uncertainty of customers who demand the product. The primary purpose of an effective supply chain is to make or create a readily available inventory to fulfill the customer's demand. To pursue sustainability is to create and maintain the conditions under which humans and nature can exist in productive harmony to support present and future generations.". (001) If you are *performing duties* in Air Force Specialty Code (AFSC) *2T251*, which title describes you best. In the Make-to-Order or Pull Model, stock is produced based on anticipated (i.e., forecasted) demand. It is natural within organizations for functions to cooperate for the good of the overall organization. Reduce time for collection of accounts receivable. Objectives of Logistics Management in SCM. Supply chain management (SCM) is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. 3.balance score card benefits include: well defined measures and clear objectives Challenge of Supply Chain - Customer satisfaction. collaborating across sourcing, manufacturing, and delivery to achieve overall goals. Increased outsourcing of non-core competencies, Expanding the Supply Chain Internationally, both mature and emerging markets have become a part of the overall business growth strategy for many companies, Societal pressures to make and source in 'the right way'; minimizing social, economic and environmental impact while developing a positive impact, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer. Now you must be wondering what those goals are. -Companies are focusing on their own core competencies, outsourcing, global supply chain coordination, integrating with suppliers and customers for competitive advantage and speed. (Select all that apply. The difference between the customer's desired order cycle time and the total supply chain order cycle time is known as _______, The economic order quantity (EOQ) model aims to _______. -Also known as Reverse Logistics, this is the part of supply chain management that deals with planning and controlling the process of moving goods specifically from the point of consumption back to the point of origin for repair, reclamation, remanufacture, recycling, or disposal. View more. An airplane's main fixed wings have moving parts. allows companies to prioritize their marketing focus on different customer groups according to each group's long-term value to the company or supply chain. Which factors create the difference between an operations theoretical capacity and its actual capacity? the management of up and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole. Should all customers receive the same level of customer service? September 1, 2022; suv with panoramic sunroof 2022 . A company's supply chain includes all of the companies involved in all of the upstream and downstream flows of products, services, finances, and information, from the initial suppliers (the point of origin) to the ultimate customers (the point of consumption). Latest second hand Suzuki GT bikes for sale . calculate the optimal amount of inventory to be reordered by balancing ordering costs with carrying costs. Suzuki GT bikes for sale . All rights reserved. (Select all that apply.). Inventory management. The goal of supply chain management is to increase _ while reducing inventory and expenses. Managing closed-loop supply chains are more complex than traditional forward supply chains because _______. The goal of Supply Chain Management is to increase customer service by increasing inventory and reducing costs (True or False). TRUE TRUE 10. What is the ideal situation for companies as they seek to create a competitive advantage through SCM? Order management. Purchasing and supply management primarily affects which of the following at the organizational level? Field services. Safety's importance does not vary with time or situation. The purpose is to balance supply management with demand management. Operations are often seen as a standalone function when they should be a fully integrated component of supply chain management. -Understand the company's business strategy and core customer requirements. Protection Protect our citizens, residents, visitors, and assets against the greatest threats and hazards in a . 7,290. The National Preparedness Goal identifies five mission areas and 32 core capabilities intended to assist everyone who has a role in achieving all of the elements in the Goal. system whereby orders are entered into the supply chain and filled, Information technology that replaces the paper documents that usually accompany business transactions, such as purchase orders and invoices, with electronic transmission of the needed information to reduce inventory levels, improve cash flow, streamline operations, and increase the speed and accuracy of information transmission, an inventory control system that manages the replenishment of raw materials, supplies, and components from the supplier to the manufacturer, a method of developing and maintaining an adequate assortment of materials or products to meet a manufacturer's or a customer's demand, an inventory control system that manages the replenishment of goods from the manufacturer to the final consumer, a real-time inventory system that triggers shipments only when a good is sold to the end user, moves inventory into, within, and out of the warehouse quickly with minimal handling, Outsourcing, or Contract Logistics, is a rapidly growing segment of the distribution industry in which a manufacturer or supplier turns over the entire function of buying and managing transportation or another function of the supply chain, such as warehousing, a distribution technique that includes any kind of product or service that can be distributed electronically, whether over traditional forms such as fiber optic cable or through satellite transmission of electronic signals, Service Management: Operations, Strategy, and Information Technology, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Operations Management: Sustainability and Supply Chain Management, Information Technology Project Management: Providing Measurable Organizational Value. 3 or more companies directly linked by the upstream and downstream flows of products, services, finances, and information from a source to a customer. What warehouse automation system is used for high-assortment, low-volume SKUs and maximizes space use? Supply chains are primarily about cost reduction activities. 2022 NC State University. Which of the following is not a goal of supply chain management? to require suppliers to share a greater burden for managing inventory. Effective managers and supervisors can be developed from among the rank and file. Which measurement would likely rise if the supply chain team was able to partner with a logistics provider to use the company-owned trucks and distribution center for more hours per week? ABC Company supply chain exhibits which of the following? What does the supply chain represent quizlet? Planners who work at a strategic level with suppliers are called _____. 180 seconds. That description matches what term? A basic, stable product with consistent, predictable demand. They are the most visible piece of the supply chain. Knowledge of lead times and lead time variability 4. Supplier Relationship management In traditional mass-market manufacturing, production begins when forecasts call for additional products to be made or when inventory control systems signal low inventory levels. Such development requires two things, most nearly. Five Mission Areas Prevention Prevent, avoid or stop an imminent, threatened or actual act of terrorism. a. operational Reasonable estimates of inventory holding costs, ordering costs, and shortage costs 5. (Refer to Figure 162.) the simultaneous design and development of all the processes and information needed to manufacture a product, to sell it, to distribute it, and to service it.all of these. supply chain management the effective and efficient integration of the suppliers, manufacturers, transportation organizations, as well as the other parties responsible for collectively bringing products and services to market prcurement the branch of the supply chain responsible for acquiring materials, equipment, products and services operations highly integrated process, often requires persons from multiple companies and multiple functions to come together and coordinate to create customers satisfaction at a given place and time. The concept of bending the chain refers to _____. SCM Supply Chain Management Definitions & Terms. Which type of inventory do firms use to hedge against variation in downstream customer demand and variation in delivery lead time from suppliers? (Select all that apply.). Issues of dis-integration happen both within the supply chain and in its relationship with other business functions. The "Great Divide" in supply chain management occurs between: suppliers and manufacturers demand-generating activities and demand-fulfilling activities sales and marketing activities organizations and their customers demand-generating activities and demand-fulfilling activities What megatrend will greatly challenge supply chain managers? . The goal of supply chain management is to create a competitive advantage for a company. Identifying your suppliers and customers beyond Tier 1 to ensure you policies are followed throughout the supply chain. The concept of Supply Chain Management (SCM) is based on two core ideas: The organizations that make up the supply chain are linked together through physical flows and information flows. A communicator of customer demand that extends from the point of sale all the way back to the supplier, and a physical flow process that engineers the timely and cost-effective movement of goods through the entire supply pipeline, When multiple firms in a supply chain coordinate their activities and processes so that they are seamlessly linked to one another in an effort to satisfy the customer, 1) Relationship integration: capability to develop and maintain a shared mental framework across companies that describes how they will depend on one another when working together, 8 critical business processes of supply chain managers, bundles of interconnected activities that stretch across firms in the supply chain, Customer Relationship Management Process (CRM). A current best practice strategy that focuses on equipment maintenance is _____. ordering of goods. The first is that practically every product that reaches an end user represents the cumulative effort of multiple organizations. S pecific. Valuable supply chain research and the latest industry news, delivered free to your inbox. All of them can be traced back to four fundamental factors that are the goals of pursuing social sustainability in the first place: Ensure adherence to proper labor, safety, and security standards The ones that are closest to the manufacturers, Most definitions of Supply Chain Management revolves around 2 key words. The Vested methodology is best described as _______. IOR/EOR services. There is often confusion between the "Achievable" and "Realistic" portions of this . ___________ are goods that are of high value to internal and external customers but are not in a complex purchasing environment. Here are the fundamental steps for effective supply chain career planning: 1) Set Career Goals that Motivate You. coordinate and integrate all of the activities performed by supply chain members into a seamless process, from the source to the point of consumption, ultimately giving supply chain managers "total visibility" inside and out of the firm. (Select all that apply.). This aggregate planning technique is known for being examined under a variety of conditions. Which of the following would be an appropriate metric for a senior-level supply chain executive who is managing an integrated supply chain? Outsourcing landed cost is usually higher than insourcing cost. A reliable forecast of demand that includes an indication of possible forecast error 3. jeep jl soft top window storage bag . Pull or Make-to-Order, -Push or Make-to-Stock: Producing stock on the basis of anticipated demand. The goal of supply chain management is tosynchronize supply and demand of all of the organizations that are part of the chain. A) Understand customers and supply chain B) Match supply chain responsiveness with the implied uncertainty of demand C) Meet short lead times D) Ensure that all functional strategies within the supply chain support the supply chain's level of responsiveness E) all of the above Answer: C Diff: 2 Topic: 2.2 Achieving Strategic Fit 24) The cost of . What was #1 from the Top 10 SCM innovations video? Time - When companies look at selecting supply chain performance metrics, they usually will examine those metrics that relate to time, as they are easily calculated, easily understood, and clearly show operational effectiveness. By now, almost all our readers have probably heard the popular acronym for goal-setting. We're seeing many companies build sustainability goals into their supply management objectives. The cost of supplied material is passed on to the customer. Tactical decisions can also help minimize risks. External collaboration and partnerships were virtually nonexistent, -Manufacturers focused on inventory reduction to improve cash flow and reduce cost. Today supply chain management is: (two key words)? To be effective, management must have the following: 1. There's value in gathering information on your suppliers' progress toward compliance and sustainability. At what time during flight do these parts play a major role. Additional funds allocated to the IT operating budget. ), Closed-loop supply chains _______ (Select all that apply.).
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