Global Supply Chain Management Overview

The four areas are Marketing, Supply Management, Logistics Management, and Operations Management.

Marketing is important because it involves understanding customers and competitors in target markets.

Supply management affects efficiency by ensuring the availability of raw materials and manufacturing resources.

<p>Factors include international trade regulations, shipping costs, storage resources, and labor charges.</p> Signup and view all the answers

<p>A global supply chain can lead to cost savings by utilizing cheaper labor, technology, or resources in different countries.</p> Signup and view all the answers

<p>It allows businesses to sell more products and take advantage of opportunities in different markets.</p> Signup and view all the answers

<p>Operations management oversees supply chain processes, including sourcing and labor management across different countries.</p> Signup and view all the answers

<p>Larger production volumes lead to lower costs per unit as bulk purchasing and transportation savings are achieved.</p> Signup and view all the answers

<p>A stronger dollar can make purchasing goods and services from foreign suppliers cheaper.</p> Signup and view all the answers

<p>It protects against supply shortages by allowing sourcing from various countries.</p> Signup and view all the answers

<p>It enables companies to compensate for shortages by switching production among different manufacturers.</p> Signup and view all the answers

<p>Global supply chains create efficiencies by streamlining production processes and reducing overall costs.</p> Signup and view all the answers

<p>It serves as a hedge against disruptions by allowing resource allocation to unaffected regions.</p> Signup and view all the answers

<p>Building strong relationships with suppliers and manufacturers across different regions.</p> Signup and view all the answers

<p>It reduces logistical costs by decreasing the distance between production and customer locations.</p> Signup and view all the answers

<p>Navigating environmental, social, and political upheavals in various countries.</p> Signup and view all the answers

<p>The primary benefit is creating a more cost-efficient product than if produced in a single country.</p> Signup and view all the answers

<p>One challenge is dealing with longer lead times due to long-distance shipping.</p> Signup and view all the answers

<p>Language barriers can lead to miscommunication in trade and cultural expectations.</p> Signup and view all the answers

<p>They must ensure shipments meet different legal requirements and customs regulations.</p> Signup and view all the answers

<p>A solid financial plan is important to maintain enough working capital for infrastructure and operation.</p> Signup and view all the answers

<p>Technology can cause disruptions that affect the efficiency and reliability of supply chains.</p> Signup and view all the answers

<p>Cultural expectations can lead to misunderstandings and vary in meaning across different countries.</p> Signup and view all the answers

<p>Conflicting legal requirements across different jurisdictions can create significant challenges.</p> Signup and view all the answers

<p>Suppliers, manufacturers, distributors, retailers, and final customers.</p> Signup and view all the answers

<p>It involves processing, preparing, and shipping customer orders from store inventory.</p> Signup and view all the answers

<p>The replenishment cycle focuses on restocking inventory from distributors, while the customer order cycle is about fulfilling customer orders.</p> Signup and view all the answers

<p>The manufacturing cycle entails the scheduling of production based on demand from distributors.</p> Signup and view all the answers

<p>The procurement cycle involves scheduling the components needed for manufacturing goods.</p> Signup and view all the answers

<p>Retailers carry limited inventory, leading to frequent stockouts and orders when critical levels are reached.</p> Signup and view all the answers

<p>Distributors have higher and more stable inventory levels, leading to less fluctuation in the replenishment cycle.</p> Signup and view all the answers

<p>Flexible manufacturing systems allow for adjustments in production to accommodate fluctuations in demand.</p> Signup and view all the answers

<p>The key stages are procurement, production, assembly, shipping, customer delivery, customer order cycle, replenishment cycle, and manufacturing cycle.</p> Signup and view all the answers

<p>Geopolitical issues can disrupt mutually beneficial supply connections when politicians exert influence, leading to international tensions and protectionism.</p> Signup and view all the answers

<p>The customer order cycle involves processing, preparing, and shipping orders to meet customer demand.</p> Signup and view all the answers

<p>The replenishment cycle is significant as it ensures that outlets are resupplied from distribution centers and wholesalers, maintaining stock levels.</p> Signup and view all the answers

<p>Companies face challenges like language and cultural differences, as well as the need for effective communication between diverse stakeholders.</p> Signup and view all the answers

<p>The assembly stage involves putting together the various components of a product to create the final item.</p> Signup and view all the answers

<p>The manufacturing cycle is based on demand from distributors, dictating production scheduling.</p> Signup and view all the answers

<p>The internet has largely eliminated the need for scratchy undersea cable phone calls, facilitating clearer and more efficient communication.</p> Signup and view all the answers

<p>The primary purpose of demand planning is to determine supply and demand based on historical data and market conditions.</p> Signup and view all the answers

<p>Two key considerations in supply planning are identifying the needed raw materials and determining the sourcing locations.</p> Signup and view all the answers

<p>Technology, particularly AI and machine learning, is used to apply real-time data and make accurate predictions for demand planning.</p> Signup and view all the answers

<p>The sales and marketing teams collaborate during sales and operations planning.</p> Signup and view all the answers

<p>Sourcing helps achieve significant cost savings by selecting suppliers and managing the procurement process efficiently.</p> Signup and view all the answers

<p>Production planning involves determining how to produce the required products without creating an inventory surplus.</p> Signup and view all the answers

<p>A thoughtful strategy is crucial as it addresses a company's current and future needs while minimizing operating costs.</p> Signup and view all the answers

<p>Market conditions are important as they influence demand predictions and help align supply with consumer needs.</p> Signup and view all the answers