Introduction to Supply Chain Management: Flows in a Supply Chain
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Questions and Answers

What is the main focus of a supply chain?

  • Flow of products and services (correct)
  • Integrating marketing strategies
  • Coordinating transportation activities
  • Managing financial transactions

    • Which of the following is NOT a part of a supply chain?

  • Marketing agencies (correct)
  • Retailers
  • End customers
  • Financial institutions

    • What does a generic supply chain involve the flow of?

  • Only financial transactions
  • Raw materials and services (correct)
  • Only end products to customers
  • Transportation vehicles only

    • Which element is NOT considered important in supply chain management?

    <p>Marketing</p> Signup and view all the answers

    What is one way in which a supply chain is integrated?

    <p>Through sharing of information and planning activities</p> Signup and view all the answers

    What is an important consideration in supply chain management related to costs?

    <p>Inventory and warehousing costs</p> Signup and view all the answers

    What is the goal of Supply Chain Management?

    <p>To minimize system cost and maximize customer service requirements</p> Signup and view all the answers

    What are the important elements of Supply Chain Management?

    <p>Supplier alliances, demand management, and performance measurement</p> Signup and view all the answers

    What is the definition of Supply Chain Management?

    <p>The design and management of seamless process across organizational boundaries to meet the real needs of the end customer</p> Signup and view all the answers

    What do firms with large inventories, large number of suppliers, and complex products benefit most from?

    <p>Lower purchasing/inventory costs</p> Signup and view all the answers

    What is meant by 'second tier' in the context of Supply Chain Management?

    <p>The supplier's suppliers and the customer's customers</p> Signup and view all the answers

    What is MRP in the context of Supply Chain Management?

    <p>Material Requirement Planning</p> Signup and view all the answers

    What are the benefits of Supply Chain Management for firms with large purchasing budgets?

    <p>Lower purchasing/inventory costs, higher quality/customer service</p> Signup and view all the answers

    What does 'TQM' stand for in the context of Supply Chain Management?

    <p>Total Quality Management</p> Signup and view all the answers

    What is meant by 'strategic partnerships' in Supply Chain Management?

    <p>Long-term relationships with top-performing suppliers</p> Signup and view all the answers

    What is the primary focus of supplier management in Supply Chain Management?

    <p>Ensuring on-time delivery and quality of products/services</p> Signup and view all the answers

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