Supply Chain Management Webinar Overview

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Questions and Answers

What does the supply chain network encompass?

The manufacturing process solely

Just the distribution of products

Various activities, people, entities, information, and resources (correct)

Only transportation and warehousing

Which step is NOT part of the order fulfillment process?

Order processing

Inventory storage

Market analysis (correct)

Shipping

What is the primary goal of just-in-time manufacturing?

To focus solely on production quality

To enhance production speed regardless of waste

To reduce inventory costs and improve efficiency (correct)

To increase inventory levels

What does FIFO stand for in supply chain management?

First in first out Signup and view all the answers

What does back ordering allow businesses to do?

Purchase items that are out of stock and fulfill future customer demand Signup and view all the answers

What does LIFO mean in supply chain terminology?

Last in first out Signup and view all the answers

Which of the following does NOT influence landed cost?

Manufacturing location Signup and view all the answers

Which statement accurately describes the key aspect of the Toyota Production System?

It promotes waste reduction and efficiency Signup and view all the answers

What is the primary purpose of a Bill of Lading?

To serve as a legal receipt of payment Signup and view all the answers

What does EXW stand for in Incoterms?

Ex Works Signup and view all the answers

Which Incoterm requires the seller to pay for insurance during transit?

CIP Signup and view all the answers

What does DDP indicate about the seller's responsibilities?

The seller must pay for transportation and duties or tariffs. Signup and view all the answers

What is the key feature of cross docking?

Goods are shipped with little to no storage time. Signup and view all the answers

In the context of Incoterms, what does DAT stand for?

Delivered At Terminal Signup and view all the answers

Which of the following is NOT a responsibility outlined by Incoterms?

Insurance coverage for all transit risks Signup and view all the answers

What does the term 'FCA' refer to in shipping logistics?

Free Carrier Signup and view all the answers

Study Notes

SAKSHAM: IL6 Webinar for Logistics - Supply Chain Management

The webinar covered supply chain management, a network between a company and its suppliers to produce and distribute products to final buyers.
It involves various activities, people, entities, information, and resources.
Supply chain management encompasses the effective flow of information, materials, and funds from the supplier's supplier to the final consumer.
Different types of logistics, ranging from 1PL to 5PL, were covered. Each level involves different degrees of involvement in the supply chain.
The webinar presented a flowchart of the work-flow of supply chain at Tata Steel. The flowchart outlined steps in procurement, transportation, processing at the plant, loading, documentation, and quality check.
The presentation showcased the push/pull view of supply chains. This categorized processes as reactive (pull) or speculative (push) based on their execution timing relative to customer demand.
Supply chain scope encompasses a wide range impacting purchasing, production, and distribution activities within a firm and the external supply chain that involves suppliers, manufacturers, distributors, and retailers.
The macro processes under supply chain management, such as CRM, ISCM, and SRM, were identified.
The order fulfillment process consists of five essential steps: receiving inventory, storage, order processing, shipping, and returns processing

Important Concepts in Supply Chain

Just-in-Time (JIT) manufacturing, also known as the Toyota Production System (TPS), aligns raw material orders with production schedules.
Vendor Managed Inventory (VMI) improves efficiency, reduces inventory costs, and minimizes forecasting needs.
Kanban is an inventory control system for JIT manufacturing.
FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) are cost lot tracking methods.
Landed Cost is the total ownership cost of an item, encompassing cost price, shipping, customs, duties, and other charges.
Backordering involves placing orders for products temporarily out-of-stock.
Bill of Lading documents goods transportation details, acting as a legal receipt.
Cross-docking minimizes storage time through direct transfer of products from inbound to outbound transportation streams.

Incoterms

Incoterms are internationally recognized rules for defining the responsibilities of sellers and buyers in export transactions. Specific terms like EXW, FCA, FAS, FOB, CFR, DAT, DAP, and DDP were highlighted. These terms detail the responsibilities of the seller and buyer at various stages of the supply chain.
- Some terms indicate costs, insurance, and responsibility for transportation. For example, CIP indicates that the seller assumes responsibility for both transportation and insurance of the goods up to an agreed-upon destination.

Order Generation & Fulfillment

Five steps involved in order fulfillment: receiving inventory, inventory storage, order processing, shipping and returns processing.

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Description

This webinar focused on supply chain management, detailing its role as a network connecting companies and suppliers. It covered logistics types, effective information flow, and included a case study from Tata Steel. The discussion highlighted the push/pull view of supply chains and various logistical engagements.