Podcast
Questions and Answers
What is a core objective of supply chain management?
What is a core objective of supply chain management?
Which practice focuses on managing quality throughout the supply chain?
Which practice focuses on managing quality throughout the supply chain?
What is a significant factor affecting logistics efficiency in the U.S.?
What is a significant factor affecting logistics efficiency in the U.S.?
Which international expansion strategy involves sharing risks with another party?
Which international expansion strategy involves sharing risks with another party?
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Which component of the SCOR© model refers to obtaining materials or goods?
Which component of the SCOR© model refers to obtaining materials or goods?
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Which of the following is excluded from the Balanced Scorecard components?
Which of the following is excluded from the Balanced Scorecard components?
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What is a primary advantage of intermodal transportation?
What is a primary advantage of intermodal transportation?
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What is a main reason for holding inventory?
What is a main reason for holding inventory?
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What are the core objectives of supply chain management?
What are the core objectives of supply chain management?
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Which of the following is NOT a philosophy or practice in Supply Chain Management?
Which of the following is NOT a philosophy or practice in Supply Chain Management?
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What are the key elements of the SCOR Model?
What are the key elements of the SCOR Model?
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Study Notes
Supply Chain Management Fundamentals
- Supply chain management (SCM) definitions and scope
- Flow of goods, services, and information
- Core objectives: minimizing costs versus satisfying customers
Philosophies and Practices in Supply Chain Management
- Total Quality Management (TQM)
- Efficient Consumer Response (ECR)
- Continuous Replenishment (CRP)
- Just-in-Time (JIT)
- Economic Order Quantity (EOQ)
Logistics Costs and Trends
- Historical logistics cost trends, especially post-2008 recession
- Factors impacting logistics efficiency in the US
International Expansion Strategies
- Exporting versus joint ventures, licensing, and direct ownership
- Risk management in global operations, including geopolitical risks like terrorism and instability
Marketing and Customer Orientation
- Components of the marketing mix (Place, Product, Promotion, Price)
- Marketing concepts: customer satisfaction, integrated effort, and long-term profitability
SCORO Model
- Components: Make, Source, Deliver, Return
Performance Measurement
- Balanced Scorecard components: financials, customer service, internal processes, and learning and development
- Excluding government/regulatory issues
Transportation in the Supply Chain
- Economic utilities created by transportation (place and time)
- Comparison of transport modes (motor, air, rail, water, pipeline)
- Strengths and weaknesses of different modes
- Intermodal transportation: advantages and disadvantages
Warehousing and Inventory Management
- Differences between warehouses and distribution centers
- Warehouse functions, inventory levels, and value-added activities
- Types of warehousing (general merchandise, private, cross-docking)
- Reasons for holding inventory (supply assurance, economies of scale, customer service)
Key Concepts and Trends
- Outsourcing in supply chain management: reduced assets, increased expenses
- Post-transaction customer service: handling complaints
- Definition and purpose of transshipments
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Description
Explore the essential concepts and practices of Supply Chain Management (SCM) in this quiz. Understand the flow of goods, core objectives, and various philosophies such as Total Quality Management and Just-in-Time. Assess your knowledge of logistics trends, international expansion strategies, and marketing orientation in SCM.
