Podcast
Questions and Answers
What is the ultimate goal of a supply chain?
What is the ultimate goal of a supply chain?
Which of the following is NOT a core function within a supply chain?
Which of the following is NOT a core function within a supply chain?
What is the crucial link between Demand Planning and Supply Management?
What is the crucial link between Demand Planning and Supply Management?
Why is it considered dangerous to business health to manufacture a product without a demand plan?
Why is it considered dangerous to business health to manufacture a product without a demand plan?
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Which of the following accurately describes the relationship between Demand Planning and Procurement?
Which of the following accurately describes the relationship between Demand Planning and Procurement?
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What is the role of a food processor in a supply chain for tomato sauce?
What is the role of a food processor in a supply chain for tomato sauce?
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What is the significance of suppliers in the tomato sauce supply chain?
What is the significance of suppliers in the tomato sauce supply chain?
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Why were supply chains historically important during World War I and World War II?
Why were supply chains historically important during World War I and World War II?
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What is the primary function of demand planning in manufacturing?
What is the primary function of demand planning in manufacturing?
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What is a major risk of having too much inventory?
What is a major risk of having too much inventory?
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How does the demand plan affect procurement organization?
How does the demand plan affect procurement organization?
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What document authorizes a company's financial commitment to purchase products?
What document authorizes a company's financial commitment to purchase products?
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Which consideration is NOT mentioned as a factor for procurement personnel when dealing with suppliers?
Which consideration is NOT mentioned as a factor for procurement personnel when dealing with suppliers?
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What is a key role of procurement personnel when processing purchase requisitions?
What is a key role of procurement personnel when processing purchase requisitions?
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What is the primary focus of inbound logistics in transportation operations?
What is the primary focus of inbound logistics in transportation operations?
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Which mode of transportation is NOT included in the definition of intermodal transportation?
Which mode of transportation is NOT included in the definition of intermodal transportation?
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What is essential for ensuring that procurement knows what to buy?
What is essential for ensuring that procurement knows what to buy?
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What challenges must procurement personnel manage when working with international suppliers?
What challenges must procurement personnel manage when working with international suppliers?
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Which of the following accurately describes reverse logistics?
Which of the following accurately describes reverse logistics?
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What role does demand planning play in manufacturing?
What role does demand planning play in manufacturing?
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In the context of transportation operations, what does outbound logistics primarily support?
In the context of transportation operations, what does outbound logistics primarily support?
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Which aspect of manufacturing is primarily handled by service operations personnel?
Which aspect of manufacturing is primarily handled by service operations personnel?
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What is a primary function of transportation within a company's supply chain?
What is a primary function of transportation within a company's supply chain?
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What differentiates service operations from manufacturing operations?
What differentiates service operations from manufacturing operations?
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What is primarily defined by sales forecasting within the demand planning process?
What is primarily defined by sales forecasting within the demand planning process?
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Which of the following best describes demand planning?
Which of the following best describes demand planning?
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In the context of demand planning, what are 'semi-finished products'?
In the context of demand planning, what are 'semi-finished products'?
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What aspect is an integral part of the supply chain management process?
What aspect is an integral part of the supply chain management process?
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What does demand forecasting form the basis for?
What does demand forecasting form the basis for?
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What is one of the first steps in the demand planning process?
What is one of the first steps in the demand planning process?
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What resource needs are defined by the demand planning function?
What resource needs are defined by the demand planning function?
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Which of the following best illustrates a completed demand plan for a bakery?
Which of the following best illustrates a completed demand plan for a bakery?
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What is the primary goal of inventory management?
What is the primary goal of inventory management?
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Which of the following processes does inventory management NOT directly involve?
Which of the following processes does inventory management NOT directly involve?
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Why do companies strive to reduce their inventory levels?
Why do companies strive to reduce their inventory levels?
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What must be accurate for products to be fabricated in a manufacturing organization?
What must be accurate for products to be fabricated in a manufacturing organization?
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What role does the company-wide ERP system play in inventory management?
What role does the company-wide ERP system play in inventory management?
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What can happen if procurement does not purchase materials on time?
What can happen if procurement does not purchase materials on time?
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What is a critical factor in the conversion or manufacturing process?
What is a critical factor in the conversion or manufacturing process?
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What module is not typically included in a company-wide ERP system for inventory management?
What module is not typically included in a company-wide ERP system for inventory management?
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What is a key consideration in a supply chain for laptops purchased online?
What is a key consideration in a supply chain for laptops purchased online?
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How does reverse logistics play a role in the online laptop supply chain?
How does reverse logistics play a role in the online laptop supply chain?
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What is the purpose of a return material authorization (RMA) in the context of a laptop supply chain?
What is the purpose of a return material authorization (RMA) in the context of a laptop supply chain?
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Which of these is NOT a direct function of supply chain management in the laptop example?
Which of these is NOT a direct function of supply chain management in the laptop example?
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What is the primary goal of supply chain management (SCM) in the context of the online laptop purchase?
What is the primary goal of supply chain management (SCM) in the context of the online laptop purchase?
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Which of these is a key element of SCM in the online laptop supply chain?
Which of these is a key element of SCM in the online laptop supply chain?
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How does live chat contribute to the laptop supply chain?
How does live chat contribute to the laptop supply chain?
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What role does customer service play in the online laptop supply chain?
What role does customer service play in the online laptop supply chain?
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Flashcards
Annual Sales Forecast
Annual Sales Forecast
Estimation of how many laptops will be sold in a year.
Demand Plan
Demand Plan
Strategy to procure components needed to meet forecasted demand.
Value-Added Facility
Value-Added Facility
Location where the final assembly of laptops takes place.
Inventory Control System
Inventory Control System
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Customer Service Representatives
Customer Service Representatives
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Packaging for Transport
Packaging for Transport
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Reverse Logistics
Reverse Logistics
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Supply Chain Management (SCM)
Supply Chain Management (SCM)
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Supply Chain
Supply Chain
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Demand Planning
Demand Planning
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Supply Management and Procurement
Supply Management and Procurement
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Inventory Management
Inventory Management
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Warehousing Operations
Warehousing Operations
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Manufacturing and Service Operations
Manufacturing and Service Operations
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Transportation Operations
Transportation Operations
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Customer Service Operations
Customer Service Operations
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Demand Planning Function
Demand Planning Function
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Procurement Organization
Procurement Organization
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ERP System
ERP System
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Supplier's Lead Time
Supplier's Lead Time
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Purchase Requisitions
Purchase Requisitions
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Purchase Orders (POs)
Purchase Orders (POs)
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Global Supplier Interactions
Global Supplier Interactions
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Supplier Risk Management
Supplier Risk Management
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Enterprise Resource Planning (ERP)
Enterprise Resource Planning (ERP)
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Demand Forecasting
Demand Forecasting
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Sales Forecast
Sales Forecast
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Interdependencies in SCM
Interdependencies in SCM
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Raw Material Requirements
Raw Material Requirements
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Procurement Requisitions
Procurement Requisitions
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Procurement
Procurement
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Manufacturing Process
Manufacturing Process
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Quality Control
Quality Control
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Inventory Costs
Inventory Costs
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Manufacturing Dependence
Manufacturing Dependence
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Service Operations
Service Operations
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Supply Chain Links
Supply Chain Links
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Intermodal Transportation
Intermodal Transportation
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Inbound Logistics
Inbound Logistics
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Outbound Logistics
Outbound Logistics
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Study Notes
Supply Chain Basics
- A supply chain is a network of people, processes, resources, and technologies that work together to produce goods and services for customers.
- Supply chains have existed for centuries, evolving from early trade routes to today's complex global networks.
- Modern supply chains involve multi-national companies cooperating to create products and services.
What is a Supply Chain?
- A supply chain is a series of interconnected functions within an organization.
- It starts with strategic planning and ends with product delivery to the customer.
- Key functions include demand planning, supply management/procurement, warehousing, manufacturing/service operations, transportation, and customer service.
- Demand planning ensures that inventory is available when needed to meet customer demand.
- Procurement acquires raw materials and components.
- Warehousing stores and manages inventory.
- Manufacturing/service operations create the final product or service.
- Transportation moves products to customers.
- Customer service deals with customer inquiries and issues.
Examples of Supply Chains in Use
- Supply chains are present in various industries and involve many stages to bring a product to a customer.
- Example: A customer purchasing laundry detergent at Walmart involves a supply chain that starts with predicting sales demand, then sourcing the needed raw materials, packaging, and shipping the detergent throughout the supply chain and into a retailer's inventory.
- Another example: A customer buying a computer online, involves the supply chain to define how many computers need to be produced, managing inventory, and delivering the product, to the retailer and/or customer.
Supply Chain Management (SCM)
- SCM is a comprehensive approach to manage the entire flow of data, information, materials, and services across all supply chain functions.
- SCM integrates various business processes and functions.
- The Council of Supply Chain Management Professionals (CSCMP) defines SCM as the planning and management of all activities involved in sourcing, procurement, production, logistics, and coordination with various partners
- SCM integrates and coordinates various functions to ensure efficiency and effectiveness.
- SCM activities include sourcing, manufacturing, warehousing, delivering to customers, and managing customer relationships.
Modern Supply Chains
- Modern supply chains are global and highly interconnected.
- Factors like intense competition, technological advances (computers, the internet, personal technology), and changing consumer expectations influence modern supply chains.
- Companies today often work with global partners throughout the supply chain, to meet the increasing demands and expectations of their customers.
- Collaboration and integration between various companies and their suppliers is critical for efficiency in the modern supply chain.
Demand Planning
- Demand forecasting estimates future demand to plan inventory and resource requirements.
- Demand planning is usually done annually, estimating how much inventory needs to be created and purchased to meet the expected sales projections.
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Description
Test your knowledge on the fundamentals of supply chains, including key concepts, processes, and functions within a supply chain network. This quiz covers topics from strategic planning to product delivery, including procurement, warehousing, and customer service.