Supply Chain Management Overview

<p>Supply Network (C)</p> Signup and view all the answers

<p>Balancing supply and demand (C)</p> Signup and view all the answers

<p>Static supply strategies (B)</p> Signup and view all the answers

<p>By coordinating supply chain activities (C)</p> Signup and view all the answers

<p>Not all customers require the same level of service (C)</p> Signup and view all the answers

<p>Customer value minus supply chain cost (C)</p> Signup and view all the answers

<p>Benefit perceived by the customer (D)</p> Signup and view all the answers

<p>The difference between the value perceived and the actual purchase price (C)</p> Signup and view all the answers

<p>Customer market research (C)</p> Signup and view all the answers

<p>Total supply chain profitability (A)</p> Signup and view all the answers

<p>Customer purchases (D)</p> Signup and view all the answers

<p>Customer returns (D)</p> Signup and view all the answers

<p>Total profit shared across all stages (D)</p> Signup and view all the answers

<p>Managing the flows of products, information, and funds (B)</p> Signup and view all the answers

<p>Wal-Mart (D)</p> Signup and view all the answers

<p>With an adaptive mindset to meet changing technology and customer needs (A)</p> Signup and view all the answers

<p>Adapting to customer expectations (B)</p> Signup and view all the answers

<p>Accurate and up-to-date information (A)</p> Signup and view all the answers

<p>Identifying an operational problem (B)</p> Signup and view all the answers

<p>Information must be accessible at any time (D)</p> Signup and view all the answers

<p>Strategic phase (D)</p> Signup and view all the answers

<p>To optimize inventory and production (C)</p> Signup and view all the answers

<p>Tactical phase (C)</p> Signup and view all the answers

<p>Using accurate and relevant information (B)</p> Signup and view all the answers

<p>Must be confidential (A)</p> Signup and view all the answers

<p>Execution is initiated in response to a customer order. (C)</p> Signup and view all the answers

<p>Push processes anticipate demand, while pull processes react to demand. (A)</p> Signup and view all the answers

<p>To clearly differentiate between reactive and speculative processes. (C)</p> Signup and view all the answers

<p>Customer order receiving (B)</p> Signup and view all the answers

<p>Supplier Resource Management (SRM) (B)</p> Signup and view all the answers

<p>Replenishment Cycle (D)</p> Signup and view all the answers

<p>It enables cohesive functionality and responsiveness throughout the supply chain. (D)</p> Signup and view all the answers

<p>Supplier to Manufacturer (C)</p> Signup and view all the answers

<p>Order fulfillment (B)</p> Signup and view all the answers

<p>Replenishing retailer inventories (A)</p> Signup and view all the answers

<p>To establish strong relationships with suppliers and manage their performance. (D)</p> Signup and view all the answers

<p>Retail order fulfillment (A)</p> Signup and view all the answers

<p>They rely on forecasts rather than actual demand. (C)</p> Signup and view all the answers

<p>To define processes and responsibilities of each member (C)</p> Signup and view all the answers

<p>Supplier to Manufacturer processes (A)</p> Signup and view all the answers

<p>Retail order trigger (C)</p> Signup and view all the answers

The management of all stages involved in fulfilling a customer request, from suppliers to customers.

All stages, directly or indirectly, involved in fulfilling a customer request, including suppliers, manufacturers, distributors and customers.

Customers, retailers, wholesalers/distributors, manufacturers, and component/raw material suppliers are the typical stages of a supply chain.

An alternative term for a supply chain emphasizing the interconnectedness and complexity of the supply chain.

The movement of products through the different stages of the supply chain.

The movement of payments of the money among parties in the supply chain—for example, from customer to retailer, or from manufacturer to wholesaler.

The exchange of information among parties in the supply chain.

The customer is an integral component of a supply chain since all stages of the process are designed to fulfill the customer's needs.

The difference between the selling price of a product and the sum of all costs incurred throughout the supply chain, including information, storage, transportation, production, and assembly.

The overall profit generated from all stages of the supply chain, encompassing all activities from sourcing raw materials to delivering finished products to the customer.

To maximize total supply chain profitability, not just profits at individual stages, by effectively managing all aspects of information, product, and fund flows.

Strategic choices made regarding supply chain design, planning, and operations significantly influence a firm's success or failure.

Supply chains must evolve and change over time to adapt to evolving customer needs, technological advancements, and competitive pressures.

A supply chain that consistently outperforms competitors by offering faster delivery, lower costs, and greater product customization.

Costs arise from various flows of information, products, and funds exchanged between different stages of the supply chain.

The customer is the sole source of revenue for any supply chain, emphasizing the importance of fulfilling their needs and expectations.

SCM is the process of optimizing the delivery of goods, services, and information from supplier to customer; it ensures a balance between supply and demand.

Key characteristics of SCM include inventory visibility, pull systems, real-time information flow, tailored customer service, and collaborative supply chain relationships.

Landed cost refers to the total cost of a product, including manufacturing, transportation, and other associated costs, until it reaches its final destination.

The primary objective of a supply chain is to maximize overall value generated, which is the difference between customer value and supply chain cost.

Supply chain surplus is the difference between the value the customer receives and the cost the supply chain incurs to deliver that value.

Real-time information flow allows for two-way communication and data sharing between all parts of the supply chain, improving decision-making and efficiency.

Different customers have different needs; tailored customer service ensures each customer receives the specific level of service they require.

A way to visualize the supply chain by breaking it down into different cycles that happen between each stage.

All the steps involved in taking, processing, and fulfilling a customer's order.

The process of restocking inventories at a retailer, where the retailer acts as the 'customer' to the distributor.

It includes receiving customer orders, entering them into the system, and fulfilling them by shipping or delivering the products.

The customer, the retailer, and the fulfillment center are all involved.

To clarify the different processes happening in the supply chain and who is responsible for each one.

They help break down the supply chain into manageable chunks and ensure smooth flow of products from start to finish.

Triggering a new order when inventory falls low, entering the order, fulfilling it, and receiving the products.

Categorizes supply chain processes based on when they're triggered: in response to customer orders (pull) or in anticipation of orders (push).

A process initiated before a customer order, aiming to meet expected demand.

A process initiated after a customer places an order, reacting to specific demand.

The point in the supply chain where the transition from push to pull strategies occurs.

All processes that interact directly with customers, including marketing, sales, order fulfillment, and customer service.

All processes that occur within a company, such as manufacturing, warehousing, and inventory management.

All processes that interact with suppliers, including sourcing, negotiation, and managing supplier relationships.

The successful coordination and collaboration between CRM, ISCM, and SRM, ensuring smooth flow of products, information, and finance.

Information in a supply chain must be correct and free from errors to ensure reliable decision-making.

Information in a supply chain needs to reflect the most recent changes and updates to be relevant and useful.

Information in a supply chain should be easily and readily available to all involved parties at any time.

Information in a supply chain should be tailored to the specific needs and roles of different individuals.

Any issue affecting the smooth functioning of a supply chain, such as production delays or customer dissatisfaction.

IT systems are tools used in businesses to collect, analyze, and share information to improve operational performance and decision-making within a supply chain.

Long-term choices made by businesses regarding where to locate facilities or how to allocate resources for the entire supply chain.

Day-to-day decisions made by businesses concerning production schedules, inventory levels, and procurement tasks.