Podcast
Questions and Answers
What is the main belief of the information-sharing paradigm in supply chain management?
What is the main belief of the information-sharing paradigm in supply chain management?
- To maximize participation, firms must not engage in joint plan strategies
- To maximize participation, firms should only share historical sales data
- To maximize participation, sharing of information and joint plan strategies are essential (correct)
- To maximize participation, firms should operate independently without sharing information
What is the main focus of the process specialization paradigm in the supply chain?
What is the main focus of the process specialization paradigm in the supply chain?
- Promoting historical sales data analysis
- Elimination of non-value-adding work and redundancy (correct)
- Encouraging firms to duplicate tasks for redundancy
- Increasing non-productive tasks within the supply chain
What is the role of Integrated Service Providers (ISPs) in the supply chain?
What is the role of Integrated Service Providers (ISPs) in the supply chain?
- Offering only transportation services to companies
- Providing redundant services within the supply chain
- Performing multiple tasks for a company as outsourced firms (correct)
- Specializing in historical data analysis
How are Integrated Service Providers (ISPs) classified based on their operational model?
How are Integrated Service Providers (ISPs) classified based on their operational model?
What is a key characteristic of asset-based Integrated Service Providers (ISPs)?
What is a key characteristic of asset-based Integrated Service Providers (ISPs)?
How has Supply Chain Management changed the business model according to the text?
How has Supply Chain Management changed the business model according to the text?
What does cash-to-cash conversion measure in the context of the Supply Chain?
What does cash-to-cash conversion measure in the context of the Supply Chain?
What is the primary goal of dwell time minimization in the supply chain?
What is the primary goal of dwell time minimization in the supply chain?
What is the main benefit of strategic sourcing for firms going global?
What is the main benefit of strategic sourcing for firms going global?
In the context of globalization, what are the four logistical differences mentioned?
In the context of globalization, what are the four logistical differences mentioned?
What is the purpose of cash spin in the supply chain?
What is the purpose of cash spin in the supply chain?
What is the measure of how well the Supply Chain is doing according to financial sophistication?
What is the measure of how well the Supply Chain is doing according to financial sophistication?
What is the key difference between the anticipatory model and the responsive model in Supply Chain Management?
What is the key difference between the anticipatory model and the responsive model in Supply Chain Management?
How does the responsive model in Supply Chain Management differ from the anticipatory model regarding inventory?
How does the responsive model in Supply Chain Management differ from the anticipatory model regarding inventory?
What key strategy helps in keeping supply chains responsive while maintaining low inventories?
What key strategy helps in keeping supply chains responsive while maintaining low inventories?
Which type of postponement is considered a more efficient form of built-to-order strategy?
Which type of postponement is considered a more efficient form of built-to-order strategy?
What is the primary source of information for production decisions in the anticipatory model?
What is the primary source of information for production decisions in the anticipatory model?
What distinguishes the responsive model from the anticipatory model in terms of market/consumer orientation?
What distinguishes the responsive model from the anticipatory model in terms of market/consumer orientation?
Study Notes
Supply Chain Management Models
- The responsive model is market/consumer-oriented, producing products based on actual customer orders, and incurs almost no inventory, allowing for customization.
- The classic anticipatory model is internal, relying on forecasts to dictate production, resulting in inventory buildup.
Postponement Strategies
- Manufacturing postponement: a type of built-to-order production, but more efficient.
- Geographical/logistics postponement: building products and storing them in a logistics hub, awaiting orders.
- Combined postponement: a combination of manufacturing and geographical postponement.
Integrative Management and Supply Chain Processes
- Information-sharing paradigm: sharing information and joint planning strategies to increase participation from supply chain participants.
- Process specialization paradigm: eliminating non-productive, non-value-adding, and redundant work in the supply chain.
Integrated Service Providers (ISPs)
- Outsourced firms that provide multiple services, including transportation and warehousing.
- Classified as third-party/asset-based or fourth-party/non-asset-based providers.
Financial Sophistication
- Cash-to-cash conversion: the time required to convert raw materials or inventory purchases into sales revenue.
- Dwell time minimization: minimizing the time assets sit idle to optimize supply chain efficiency.
- Cash spin: reducing assets in the supply chain and reinvesting in another project.
Globalization
- Opportunities for firms going global include: demand exceeding local supply, strategic sourcing, and offshoring.
- Four logistical differences in globalization: distance, documentation, diversity, and demand.
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Description
Learn about the differences between the responsive supply chain model, which focuses on market/consumer orientation, and the classic anticipatory model. Explore how Supply Chain Management has shifted towards a more responsive approach.
