Recent Issues in Supply Chain Management (SCM) Lesson 3.1
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Questions and Answers

What is the primary goal of the benchmarking process?

  • To analyze the business processes of others only
  • To compare own business performance with that of others (correct)
  • To understand in detail existing business processes only
  • To implement new business processes

    • What is the primary benefit of benchmarking?

  • To increase profits
  • To reduce costs
  • To reduce competition
  • To make better informed decisions (correct)

    • What is supply chain management?

  • The integration of business processes between organizations
  • The integration of business processes from end-users to original suppliers (correct)
  • The integration of business processes within an organization
  • The integration of business processes from suppliers to end-users

    • What is the primary goal of demand chain management?

    <p>To anticipate demand characteristics within a given market</p> Signup and view all the answers

    What are the four fundamental elements of demand chain management?

    <p>Integrating the demand and supply processes; managing the digital integration; configuring the value system; and managing the cross-functional working relationships</p> Signup and view all the answers

    What is the primary difference between supply chain management and demand chain management?

    <p>Supply chain management is backward-looking, while demand chain management is forward-looking</p> Signup and view all the answers

    What is the purpose of integrating the demand and supply processes?

    <p>To anticipate demand characteristics within a given market</p> Signup and view all the answers

    What is the primary benefit of demand chain management?

    <p>To anticipate demand characteristics within a given market</p> Signup and view all the answers

    What is the primary goal of supply chain management?

    <p>To achieve total business process excellence and manage relationships with other members of the supply chain</p> Signup and view all the answers

    What is the primary function of inventory management in supply chain management?

    <p>To track and manage supplies of raw materials and components</p> Signup and view all the answers

    What is the primary benefit of automating procurement tasks in supply chain management?

    <p>To build stronger relationships with vendors and improve negotiations</p> Signup and view all the answers

    What is the primary challenge of coordinating logistics in supply chain management without software?

    <p>Coordinating numerous warehouses and transportation channels</p> Signup and view all the answers

    What is the primary goal of supply chain management in terms of inventory management?

    <p>To eliminate excess and waste</p> Signup and view all the answers

    What is the primary benefit of supply chain management in terms of inventory management?

    <p>To free up valuable real estate for other important purposes</p> Signup and view all the answers

    What is the primary function of procurement in supply chain management?

    <p>To automate all activities and tasks associated with sourcing, purchasing, and payables</p> Signup and view all the answers

    What is the primary benefit of supply chain management in terms of relationships with vendors?

    <p>To build stronger relationships with vendors and improve negotiations</p> Signup and view all the answers

    What is a primary goal of achieving complete visibility in supply chain management?

    <p>To improve on-time delivery performance and boost customer satisfaction</p> Signup and view all the answers

    What is one of the benefits of accurate forecasting and planning in supply chain management?

    <p>To avoid unnecessary purchases of raw materials</p> Signup and view all the answers

    What does the implementation of IT in supply chain management enable a firm to do?

    <p>To develop and accumulate knowledge stores about its customers, suppliers, and market demands</p> Signup and view all the answers

    What is one of the functions of return management in supply chain management?

    <p>To simplify and accelerate the inspection and handling of defective goods</p> Signup and view all the answers

    What is the primary purpose of interorganizational systems in supply chain management?

    <p>To enable information sharing and/or processing across organizational boundaries</p> Signup and view all the answers

    What is one of the benefits of achieving complete visibility in supply chain management?

    <p>To improve on-time delivery performance</p> Signup and view all the answers

    What is one of the features of supply chain management?

    <p>Return management</p> Signup and view all the answers

    What is the role of IT in supply chain management?

    <p>To enable the effective control of today's complex supply chains</p> Signup and view all the answers

    What is the primary objective of customer relationship management programs?

    <p>To automate business processes used for sales, service, and support</p> Signup and view all the answers

    What is a key aspect of supply chain management?

    <p>Long-term benefit of all parties through cooperation and information sharing</p> Signup and view all the answers

    What is the role of supply chain management personnel in an organization?

    <p>To ensure that all departments in the business get the raw materials they need to complete their work</p> Signup and view all the answers

    What is the main difference between supply chain management and customer relationship management?

    <p>Supply chain management deals with suppliers, while customer relationship management deals with customers</p> Signup and view all the answers

    What has led to the development of online communication systems in supply chain management?

    <p>The complexity of supply chain management</p> Signup and view all the answers

    What is the primary function of supply chain management in an organization?

    <p>To ensure that movement of resources from suppliers to manufacturing occurs smoothly</p> Signup and view all the answers

    How does IT impact the relationship between buyers and suppliers?

    <p>IT decreases transaction costs between buyers and suppliers and creates a more relational/cooperative governance structure</p> Signup and view all the answers

    What is a consequence of IT in supply chain management?

    <p>Reducing the importance of human interaction in buyer-supplier relationships</p> Signup and view all the answers

    What do supply chain management professionals use to ensure their suppliers provide the right raw materials to create products and services?

    <p>Data generated from software applications</p> Signup and view all the answers

    What is the primary function of customer relationship management in an organization?

    <p>To take and transmit orders and ensure that product returns and customer support needs are handled</p> Signup and view all the answers

    What is a characteristic of supply chain management?

    <p>A series of interconnected activities</p> Signup and view all the answers

    What is the definition of a benchmark?

    <p>A standard of performance</p> Signup and view all the answers

    What is a benefit of the development of IT in supply chain management?

    <p>Enabling greater relationship between suppliers</p> Signup and view all the answers

    What is a result of the use of the Internet in supply chain management?

    <p>Increasing the richness of communications between firms and customers</p> Signup and view all the answers

    What do supply chain management professionals need to ensure the smooth operation of their organization?

    <p>Accurate manufacturing and inventory data from suppliers</p> Signup and view all the answers

    What is a key aspect of supply chain management in relation to variability ordering?

    <p>The importance of IT in supply chain management is largely caused by variability ordering</p> Signup and view all the answers

    Study Notes

    Supply Chain Management (SCM)

    • SCM is the management of multiple relationships across the supply chain, dealing with total business process excellence and representing a new way of managing businesses and relationships with other members of the supply chain.
    • SCM involves the stream of processes of moving goods from customer order through raw materials, supply, production, and distribution of products to the customer.

    Features of Supply Chain Management

    • Inventory Management: tracking and managing supplies of raw materials, components, and finished goods to satisfy customer orders and minimize waste.
    • Procurement: automating and streamlining sourcing, purchasing, and payables across a company's supplier network, building stronger relationships with vendors and improving negotiations.
    • Logistics: coordinating warehouses and transportation channels, improving on-time delivery performance and customer satisfaction.
    • Forecasting and Planning: anticipating customer demand and planning procurement and production processes accordingly, avoiding unnecessary purchases and excess finished goods.
    • Return Management: simplifying and accelerating the inspection and handling of defective or broken goods, automating claims processing with suppliers and distributors.

    Role of Computer/IT in Supply Chain Management

    • IT is a prerequisite for effective control of complex supply chains, enabling firms to develop and accumulate knowledge stores about customers, suppliers, and market demands.
    • IT Systems: using interorganizational systems for information sharing and processing across organizational boundaries, including internal IT systems and identification technologies like RFID.
    • Supply Chain Management: a business network defined as a set of connected business relationships, concerned with planning, coordinating, and controlling materials, parts, and finished goods from supplier to customer.

    IT and SCM

    • IT has increased the popularity of supply chain design and management as a business paradigm.
    • IT enables online communication systems, increasing the richness of communications between firms and customers.
    • IT emphasizes the long-term benefit of all parties in the supply chain through cooperation and information sharing.
    • IT increases information processing capabilities, reducing uncertainty and enabling greater relationship management.
    • IT decreases transaction costs between buyers and suppliers, creating a more relational/cooperative governance structure.

    CRM versus SCM

    • Customer Relationship Management (CRM) programs ensure parts and service get to customers when needed, automating business processes for sales, service, and support.
    • Supply Chain Management (SCM) personnel ensure that all departments in the business get the raw materials they need, working with vendors.
    • CRM personnel work with customers, ensuring they receive support and services, while SCM personnel work with vendors.
    • SCM ensures the smooth movement of resources from suppliers to manufacturing, while CRM takes and transmits orders, handling product returns and customer support.

    Benchmarking Concept

    • A benchmark is a standard of performance.
    • Benchmarking Process: understand existing business processes, analyze the processes of others, compare own business performance, and implement steps to close the performance gap.
    • Benefits of Benchmarking: informs better decisions, exposes organizations to new ideas, allows for thinking outside the box, and provides a methodology for implementing change.

    Value Addition in SCM - Concept of Demand Chain Management

    • Supply Chain Management: integrating business processes from end-user through original suppliers, providing products, services, and information that add value for customers.
    • Demand Chain Management: a sequence of backward-reaching processes, initiated by the end-customer, that enables companies to anticipate demand characteristics within a given market.
    • Conceptual Framework for Demand Chain Management: integrating demand and supply processes, managing digital integration, configuring the value system, and managing cross-functional working relationships between marketing and supply functions.

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    Description

    This quiz covers recent issues in supply chain management, including the management of multiple relationships across the supply chain and total business process excellence.

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