Supply Chain Management Overview
24 Questions
3 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are the three primary flows in a supply chain?

  • Information, product, funds (correct)
  • Materials, labor, capital
  • Production, distribution, consumption
  • Orders, invoices, payments

    • Strategic supply chain decisions typically involve short-term order processing.

    False

    What is the main goal of achieving 'strategic fit' in supply chain management?

    aligning supply chain capabilities with product and market characteristics

    The push/pull view categorizes supply chain processes based on whether they _______ or react to customer demand.

    <p>anticipate</p> Signup and view all the answers

    Match the following supply chain drivers with their descriptions:

    <p>Facilities = Physical locations in the supply chain network Inventory = Raw materials, work-in-process, and finished goods Transportation = Movement of goods between different locations Information = Data and analysis used throughout the supply chain</p> Signup and view all the answers

    Which of the following is NOT a key driver of supply chain performance?

    <p>Advertising</p> Signup and view all the answers

    Omni-channel retailing involves separating online and offline sales channels.

    <p>False</p> Signup and view all the answers

    What is a primary challenge when designing global supply chain networks?

    <p>managing risks related to global operations</p> Signup and view all the answers

    Which of the following best describes the focus of strategic decisions in a supply chain?

    <p>Long-term, overall design of the supply chain network</p> Signup and view all the answers

    Operational decisions typically involve determining production levels for the next year.

    <p>False</p> Signup and view all the answers

    Name two key metrics used to measure forecast accuracy.

    <p>MAD, MAPE</p> Signup and view all the answers

    Aggregate planning involves balancing supply and demand over the ______ term.

    <p>medium</p> Signup and view all the answers

    Match the decision type with its corresponding time horizon:

    <p>Strategic = Long-term Planning = Medium-term Operational = Short-term</p> Signup and view all the answers

    Which of these is a key trade-off considered in aggregate planning?

    <p>Inventory levels, workforce, and production rates</p> Signup and view all the answers

    Linear programming models are typically used to optimize production plans within spreadsheets like Microsoft Excel.

    <p>True</p> Signup and view all the answers

    What is the primary purpose of aggregate planning?

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

    Which company is known for using a responsive supply chain to quickly introduce new fashion products?

    <p>Zara</p> Signup and view all the answers

    Centralizing facilities generally improves responsiveness to regional markets.

    <p>False</p> Signup and view all the answers

    What is the trade-off when maintaining high inventory levels?

    <p>Higher storage costs</p> Signup and view all the answers

    A _____ system reduces inventory costs but risks stockouts during demand surges.

    <p>just-in-time (JIT)</p> Signup and view all the answers

    Match the following companies with their described supply chain strategies:

    <p>Zara = Responsive supply chain Amazon = Integration of warehousing and delivery L.L.Bean = Make-to-stock system Dell = Make-to-order system</p> Signup and view all the answers

    What is a potential downside to decentralizing facilities in a supply chain?

    <p>Increased operating costs</p> Signup and view all the answers

    Visual tools in supply chain management are used to obscure complex information.

    <p>False</p> Signup and view all the answers

    Which Excel models are commonly used for hands-on learning in supply chain decisions?

    <p>Inventory optimization and forecasting</p> Signup and view all the answers

    Study Notes

    Supply Chain Management Study Notes

    • Supply Chain Definition: All parties involved in fulfilling a customer request (manufacturers, suppliers, transporters, retailers, etc.) encompass information, product, and funds flow.
    • Supply Chain Surplus: Customer value minus supply chain costs
    • Decision Phases:
      • Strategic: Long-term decisions concerning facility location.
      • Planning: Mid-term decisions, like inventory policies.
      • Operational: Short-term decisions like order processing.
    • Supply Chain Views:
      • Cycle View: Categorized into cycles like customer order, replenishment, manufacturing, and procurement.
      • Push/Pull View: Processes categorized by whether they anticipate or react to customer demand.
    • Strategic Fit: Aligning supply chain capabilities with product and market characteristics, focusing on responsiveness vs. efficiency, and strategies for managing uncertainty.
    • Key Supply Chain Drivers: Facilities, inventory, transportation, information, sourcing, and pricing.
    • Performance Metrics:
      • Financial: Profitability, revenue, and costs.
      • Operational: Cycle times, fill rates, and inventory turnover.
    • Network Design Factors: Factors in designing distribution networks.
    • Omni-Channel Retailing: Integrating online and offline channels.
    • Network Design Decisions: Facility location, capacity planning, and transportation strategies.
    • Global Supply Chain Networks: Globalization Impacts, Risk management, Decision trees, Offshoring vs. onshoring, and flexibility in uncertain markets.
    • Demand Forecasting Methods: Qualitative (e.g., market surveys) and Quantitative (e.g., time series analysis).
    • Key Forecasting Metrics: Forecast accuracy and error measurement (e.g., MAD, MAPE).
    • Aggregate Planning: Balancing supply and demand over the medium term, considering trade-offs like inventory levels, workforce, and production rates.
    • Tips for Preparation: Understanding the relationships between strategic, planning, and operational decisions. Applying theoretical concepts to case studies. Focusing on key relationships and trade-offs in supply chain drivers, using numerical examples, especially forecasting and aggregate planning techniques, and using Excel models.
    • Critical Thinking and Problem-Solving: Evaluating decisions based on supply chain surplus (customer value - supply chain cost). Relating supply chain management to broader business objectives.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Supply Chain Management Midterm Study Guide PDF

    Description

    This quiz covers the fundamental concepts of supply chain management, including definitions, decision phases, and various views of supply chains. Learn about the strategic fit and key drivers that influence effective supply chain practices.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser