Supply Chain Management Webinar

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Questions and Answers

What is a Bill of Lading primarily used for?

To track delivery times

To outline shipping routes

To show goods, their quantity, and destination (correct)

To serve as a purchase order

Which Incoterm indicates that the seller has fulfilled their obligation once goods are ready for pickup at their premises?

FCA

EXW (correct)

DAP

CIP

What does the term CPT stand for in Incoterms?

Carriage Pricing Terms

Carriage Paid To (correct)

Customs Paid To

Cost Paid Transport

In the term CIP, what additional obligation does the seller have compared to CPT?

To provide minimum insurance coverage Signup and view all the answers

Which Incoterm requires the seller to deliver goods at an identified terminal and unload them for the buyer?

DAT Signup and view all the answers

What does DDP stand for in the context of Incoterms?

Delivered Duty Paid Signup and view all the answers

What is the purpose of cross docking in a business?

To ship received goods with minimal storage time Signup and view all the answers

Which term describes the seller delivering goods to a carrier specified by the buyer on the seller's premises?

FCA Signup and view all the answers

What is one of the main goals of Just-in-time manufacturing?

Reduce inventory costs Signup and view all the answers

Which step is NOT part of the order fulfillment process?

Supplier negotiation Signup and view all the answers

What does FIFO stand for in supply chain management?

First in, first out Signup and view all the answers

What is the purpose of back ordering?

To place orders for out-of-stock items Signup and view all the answers

Which of the following best describes LIFO?

Most recent purchases are sold first Signup and view all the answers

What is included in the landed cost of an item?

Cost price, shipping charges, custom duties, taxes, and other charges Signup and view all the answers

What is a primary feature of the Toyota Production System?

Improving efficiency by reducing waste Signup and view all the answers

Which of the following does NOT characterize supply chain management?

Only focuses on warehouse management Signup and view all the answers

Study Notes

SAKSHAM: IL6 Webinar for Logistics - Supply Chain Management

Tata Steel webinar on supply chain management
Supply chain management is a network between a company and its suppliers to produce and distribute a specific product to the final customer
It includes various activities and involves different people and entities, and information and resources

Supply Chain Management Definition

Effective management of flow of information, material, and funds from supplier's supplier to final consumer

Supply Chain Diagram

Diagram depicts the flow of information, material, and funds from suppliers' suppliers to the final consumer
Entities in the diagram include Supplier's Supplier, Supplier, Manufacturer, Wholesaler, Retailer, Consumer

Tata Steel Supply Chain - Work Flow Diagram

Detailed flow diagram outlining the work flow of supply chain at Tata Steel (TSM)
Process steps include procurement, receiving raw materials, processing at plant, vehicle placement, packaging, placement of transport, loading of materials, QA check, system documentation, and payment

Supply Chain Processes - Push/Pull View

Supply chain processes fall into two categories:
- Pull: execution initiated in response to a customer order (reactive)
- Push: execution initiated in anticipation of a customer order (speculative)
Push/pull boundary separates push processes from pull processes

Scope of Supply Chain in a Firm

Includes communication and information flow, internal supply chain, external supply chain, and CRM, SCM and SRM

Key Activity in Macro Process

Lists CRM, SCM and SRM as key activities in the macro process under supply chain management

Order Generation and Fulfillment

Five steps in the order fulfillment process:
- Receiving inventory shipments
- Inventory storage
- Order processing
- Shipping
- Returns processing

Important Concepts in Supply Chain

Just-in-Time (JIT): A management strategy aligning raw-material orders with production schedules, also known as Toyota Production System (TPS)
Vendor Managed Inventory (VMI): Increases efficiency, decreases waste, reduces inventory costs, and requires producers to accurately forecast demand, and involves a supplier managing the inventory for the customer
Kanban: An inventory control system used in just-in-time manufacturing, used to track and order parts and materials
FIFO & LIFO: Cost lot tracking methods where items are valued and sold in the order they purchased (FIFO) or most recent purchase first (LIFO)
Landed Cost: The total cost of ownership of an item, including cost price, shipping charges, customs duties, taxes, and other charges
Back Ordering: Placing a purchase order for a product temporarily out of stock in response to high demand or a spike in demand
Bill of Lading: A shipping document showing goods' type, quantity, and destination address, acting as a legal receipt
Cross Docking: A method to ship goods from vendors to customers with minimal storage time

Different Incoterms in Supply Chain

EXW, FCA, FAS, FOB, CFR, DAT, DAP, DDP in a diagram describing international recognized rules defining responsibilities of sellers and buyers in export transactions

Different Types of Logistics

Diagram illustrating different types of logistics (1PL, 2PL, 3PL, 4PL, and 5PL) and activities involved in each model

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Description

Explore the fundamentals of supply chain management through this insightful webinar by Tata Steel. Understand the essential flow of information, materials, and funds from suppliers to end consumers, illustrated by detailed diagrams and workflow processes specific to Tata Steel's operations.

Supply Chain Management Webinar - Tata Steel

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