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Questions and Answers
Which of the following is a key principle of supply chain management?
Which of the following is a key principle of supply chain management?
- Co-ordination of logistics activities
- Interdependence and balance (correct)
- Changing competitive environment
- Demand creation and physical supply
What is the relation between supply chain management and logistics?
What is the relation between supply chain management and logistics?
- Logistics is a narrower concept than supply chain management (correct)
- Logistics and supply chain management are the same thing
- Logistics is a wider concept than supply chain management
- Logistics and supply chain management are unrelated
What is the mission of logistics management?
What is the mission of logistics management?
- To manage the changing competitive environment
- To create competitive advantage
- To co-ordinate demand creation and physical supply (correct)
- To become the value chain
What is the relationship between the supply chain and competitive performance?
What is the relationship between the supply chain and competitive performance?
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What are the two principles illustrated by the activities of demand creation and physical supply?
What are the two principles illustrated by the activities of demand creation and physical supply?
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Study Notes
Supply Chain Management Principles
- Segregation of Concerns is a key principle of supply chain management, which involves dividing the entire supply chain into manageable parts to focus on specific areas.
Relation Between Supply Chain Management and Logistics
- Logistics management is a subset of supply chain management, focusing on the movement and storage of goods, while supply chain management encompasses a broader range of activities, including sourcing, production, and distribution.
Mission of Logistics Management
- The mission of logistics management is to plan, coordinate, and execute the movement and storage of goods, products, and resources from one place to another.
Supply Chain and Competitive Performance
- The relationship between the supply chain and competitive performance is that a well-designed and well-managed supply chain can be a source of competitive advantage for a company.
Principles of Demand Creation and Physical Supply
- The two principles illustrated by the activities of demand creation and physical supply are the Push-Pull Principle and the Speculation-Hedging Principle, which guide the management of supply chain operations.
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