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Pricing Schools Business

Features Pricing Schools Business

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Lecture 1: Supply Chain and Logistics

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Questions and Answers

What is the primary focus of logistics management?

Planning and controlling the supply chain

Transforming raw materials into finished goods

Coordinating customer relationships

Managing the flow and storage of goods, services, and related information (correct)

What is the definition of a supply chain?

The process of manufacturing a product

The network of suppliers, manufacturers, distributors, and retailers (correct)

The planning and controlling of logistics

The flow of goods from raw materials to end customers

What is the goal of supply chain management?

To manage the flow of goods and services

To optimize the supply chain for a single company

To maximize profits for individual companies

To improve the long-term performance of individual companies and the supply chain as a whole (correct)

What percentage of companies focus on integration with their first-tier suppliers?

34% (D) Signup and view all the answers

What is the definition of supply chain management?

The systematic coordination of traditional business functions across companies (A) Signup and view all the answers

How many key sub-processes are there for supply chain management?

8 (D) Signup and view all the answers

What was the state of activities under the SCM umbrella until the 1960s?

Independent from each other (B) Signup and view all the answers

What is the main purpose of inbound logistics?

To receive and store raw materials (A) Signup and view all the answers

What is the term for the set of activities that create value for a company?

Value chain (A) Signup and view all the answers

What is the relationship between the supply chain and the value chain?

The supply chain is a subset of the value chain (A) Signup and view all the answers

What is the result of the evolution of supply chain management from 2000 to today?

All processes fall under SCM (B) Signup and view all the answers

How did Michael Porter categorize primary activities?

Into 5 categories (C) Signup and view all the answers