5 Questions
Which of the following best describes a supply chain?
A network of organizations that collaborate to manufacture and deliver products and services to customers
What are the three types of flows in a supply chain?
Material flows, information flows, and cash flows
What are the 3Vs of supply chain management?
Visibility, Velocity, Variability
What are the 7R's of logistics?
Right product, right quantity, right place, right time, right customer, right cost, right condition
What are the 10 SC processes from Remy Le moigne?
Customer relationship management, demand management, order fulfillment, supplier relationship management, manufacturing flow management, product development and commercialization, returns management, logistics management, information technology, performance measurement
Study Notes
Supply Chain Management
- A supply chain is a network of organizations, people, activities, information, and resources involved in the production and delivery of a product or service from raw materials to end customers.
Types of Flows in a Supply Chain
- There are three types of flows in a supply chain:
- Product flow (movement of goods, products, or services from one firm to another)
- Information flow (exchange of data, including orders, payments, and inventory levels)
- Financial flow (movement of money, including payment for goods and services)
3Vs of Supply Chain Management
- The 3Vs are Visibility, Velocity, and Variability:
- Visibility: understanding the current state of the supply chain
- Velocity: speed and agility in responding to changes in demand
- Variability: managing and mitigating risks and uncertainties
7Rs of Logistics
- The 7Rs of logistics are:
- Right product
- Right quantity
- Right condition
- Right place
- Right time
- Right customer
- Right cost
10 SC Processes from Remy Le Moigne
- The 10 supply chain processes from Remy Le Moigne are:
- Customer relationship management
- Customer service management
- Demand management
- Order fulfillment
- Manufacturing flow management
- Procurement
- Inventory management
- Warehousing and storage
- Transportation management
- Network management
Test your knowledge on supply chain management with this quiz. Explore topics such as the definition of supply chain, the different flows involved, logistics principles, SC processes, SCM and the 3Vs, and the evolution of SCM. Challenge yourself with this comprehensive quiz!
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