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Questions and Answers
What is one of the key benefits of integrated inventory management?
What is a consequence of globalization in the context of supply chain management?
What is the primary focus of Supply Chain Management in terms of customer experience?
What led to the evolution of supply chain management in the 2000s?
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What is a key success factor in many markets?
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What is the primary difference between logistics and supply chain management?
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What is a limitation of traditional logistics?
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What is the typical timeframe of supply chain management?
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What is an example of advanced technology that enabled real-time tracking and optimization in supply chain management?
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When did business activities like purchasing, warehousing, and transportation start to integrate into materials management?
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What is the daily production capacity of iPhones in Zhengzhou, China?
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How many manual steps are involved in the iPhone assembly process?
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What is the main purpose of allowing customers to pre-order iPhones before the launch date?
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Which company is involved in the delivery of new iPhones to stores, distribution centers, and customers on the launch day?
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How many Apple Stores are there in the US?
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What is the main goal of logistics?
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Which of the following is NOT part of The 7 Rs of logistics?
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How does Supply Chain Management differ from logistics?
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What are the primary activities of Supply Chain Management?
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Involving partners is a differentiating point of which concept discussed?
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What activities are regrouped under supply chain management?
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What is a key difference between the international and domestic environment for logisticians?
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Why is international insurance more complex compared to domestic insurance?
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What characterizes globalization?
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Why does the transportation of time & temperature-sensitive goods require more careful planning over long distances?
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Study Notes
Supply Chain Management (SCM)
- Involves collaboration with external partners to achieve overall supply chain efficiency
- Takes a long-term view, emphasizing strategic planning and optimization of the entire supply chain
- Focuses on enhancing the overall customer experience by managing the entire supply chain effectively
History of Supply Chain Management
- Before the 1960s, business activities like purchasing, warehousing, and transportation were managed separately
- Over time, they integrated into materials management, logistics in the 1990s, and eventually evolved into supply chain management in the 2000s with the inclusion of information technology, marketing, and sales
Supply Chain vs. Logistics
- Supply chain management involves integrating outside organizations and focuses on the end customer
- Logistics focuses on meeting immediate customer needs related to product movement and delivery
- Supply chain management is often larger than logistics and involves more comprehensive and integrated approach
Key Factors Leading to SCM
- Inventory management: shift of management and financial attention to where an organization's funds are tied up
- Changes in company structure: firms have become integrated and more specialized, necessitating a more comprehensive approach
- Globalization: supply chains expanded globally, requiring a more integrated approach
- Technology advancements: enabled real-time tracking, end-to-end visibility, collaboration, and optimization across the entire supply chain
- Customer expectations: SCM evolved to meet customer demands for faster, more reliable, and transparent supply chain processes
Case Study: Apple GSCM
- Logistics and distribution: Apple allowed customers to pre-order iPhones prior to launch to forecast demand
- UPS is a major carrier involved in the launch, delivering new products to stores, distribution centers, and customers in over 20 countries
- Retail network: Apple has a global retail network with 510 stores in 25 countries, offering a luxury shopping experience and technical support
Logistics
- The 7 Rs of logistics: "Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price"
- Goal: to meet customer requirements
International Logistics
- Environment: operates in a different environment than domestic logistics, with greater number of intermediaries, risks, and hazards
- Challenges: documentation, requirements, warehousing, and transportation of time and temperature-sensitive goods
Globalization
- Definition: a complex series of economic, social, technological, cultural, and political changes
- Geographically, it continues to take place throughout the world
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Description
Test your knowledge on the 7 Rs of logistics as defined by The Chartered Institute of Logistics & Transport UK. Understand the importance of getting the right product, quantity, condition, place, time, customer, and price in logistics operations.
