Questions and Answers
Which technology helps reduce inventory costs and improve efficiency by providing updated information?
The supply web can completely replace the supply chain.
False
What does JIT stand for in supply chain management?
Just in Time
______ technologies increase accuracy thanks to automation and the use of technologies.
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Match the following materials-tracking technologies with their characteristics:
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What is one of the primary benefits of cooperative relationships with suppliers?
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Automation in supply web processes typically requires more human involvement.
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Name one customer benefit of using supply web technology.
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_________ is one way to share information about defects and changes in customer demand.
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Which of the following best describes Active RFID?
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Study Notes
Online Recruitment Platforms
- Common platforms include LinkedIn, Indeed, and JobStreet.
- Key challenges include fraud/scams that exploit the company's reputation and technological disparities affecting accessibility.
- Advantages include:
- Enhanced efficiency and cost-effectiveness in the recruitment process.
- Tools for applicant tracking and screening enable targeted candidate filtering.
- Job applications can be submitted anytime, anywhere, promoting flexibility.
- Transparency in job vacancies, salaries, criteria, and descriptions.
On-Demand Service Companies
- Connect time-sensitive customers with independent service providers, acting as intermediaries.
- Platforms like Uber (driver-customer) and Netflix (content-customer) focus on specific services.
- Payment is typically processed online.
- Characterized by:
- Delay sensitivity; customers expect immediate delivery.
- Agent independence; service providers choose their working hours and payment is service completion-based.
- Concerns include job security for gig workers, along with safety and quality control issues.
Strategic Analysis Factors
- Key industry factors:
- Low barriers to entry enable new competitors.
- Moderate supplier power and high customer power.
- High existence of substitutes contributing to competition.
- Firm-specific factors:
- Importance of value chains through outsourcing and collaboration.
- Leveraging technology and core competencies through synergies enhances market reach and customer engagement.
- Legal challenges arise from reliance on reputation and partnerships with larger firms.
Online Retailing Business Models
- Omnichannel: Integrates online and physical retail for seamless shopping experiences.
- Factory-Direct: Manufacturers sell directly to customers without intermediaries (e.g., Casper).
- Catalogue Merchant: Retailers showcase products primarily through catalogs.
- Virtual Merchant: Operate solely online, no physical storefronts.
Auction Types and Structures
- Forward/Regular Auctions:
- English Auction: Bidding starts low and increases until no further bids are placed.
- Dutch Auction: Starts high and decreases until a bid is accepted.
- Yankee Auction: Multiple identical items bid together; highest bidder sets the price.
- Sealed-Bid Auctions:
- Bidders submit blind bids; the highest bid wins.
- Variants include:
- First-price: Highest bidder pays their bid amount.
- Second-price (Vickrey): Highest bidder pays the second-highest bid amount, encouraging truthful bidding.
- Double Auctions: Both buyers and sellers submit price-quantity bids; common in stock exchanges like NYSE.
Supply Chain Management
- Direct materials are essential for product production, while indirect materials support operations.
- Logistics involves the efficient flow of goods and information, requiring Just-In-Time strategies.
- Finance and administration encompass financial management, including budgeting and HR activities.
- E-commerce enhances procurement through platforms like Alibaba, facilitating supplier transactions and reducing costs.
- Supply webs improve efficiency via:
- Internet of Things for transactions.
- Cloud storage for real-time data updates.
- Automation technologies such as RFID and barcodes for tracking and inventory management.
Materials-Tracking Technologies
- RFID: Uses radio signals for quicker, more accurate inventory tracking than barcodes.
- Active RFID: Contains its own power supply for longer-range detection; offers greater reliability for asset tracking.
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Description
This quiz covers the key principles of cooperative relationships in supply chain management, including supplier coordination, customer benefits, and effective communication. Explore how adaptive strategies and information sharing can enhance overall efficiency and cost management within the supply web.
