12 Questions
What is the primary focus of logistics management?
Managing the flow and storage of goods, services, and related information
What is the definition of a supply chain?
The network of suppliers, manufacturers, distributors, and retailers
What is the goal of supply chain management?
To improve the long-term performance of individual companies and the supply chain as a whole
What percentage of companies focus on integration with their first-tier suppliers?
34%
What is the definition of supply chain management?
The systematic coordination of traditional business functions across companies
How many key sub-processes are there for supply chain management?
8
What was the state of activities under the SCM umbrella until the 1960s?
Independent from each other
What is the main purpose of inbound logistics?
To receive and store raw materials
What is the term for the set of activities that create value for a company?
Value chain
What is the relationship between the supply chain and the value chain?
The supply chain is a subset of the value chain
What is the result of the evolution of supply chain management from 2000 to today?
All processes fall under SCM
How did Michael Porter categorize primary activities?
Into 5 categories
Review key concepts in supply chain management, including logistics and value chain, to prepare for your industrial purchasing and marketing exam. Learn about the processes involved in making raw materials into a product and how to meet customer requirements.
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