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 (A)</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 (C)</p> Signup and view all the answers

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

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

What are the important elements of Supply Chain Management?

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

What is MRP in the context of Supply Chain Management?

<p>Material Requirement Planning (B)</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 (A)</p> Signup and view all the answers

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

<p>Total Quality Management (A)</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 (B)</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 (D)</p> Signup and view all the answers

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