Questions and Answers
A vertically integrated enterprise can grow by doing which of the following?
A company that has multiple disconnected legacy systems notes that a competitor is sharing real-time information and collaboration with first-tier suppliers and customers. The company wants to leap quickly forward to match or surpass the competitor's supply chain functionality. What stage can this firm achieve with a single upgrade project, assuming that they have enough capital to invest in the effort?
Demand and which of the following types of information typically flow from the end customer upward in a service supply chain?
You are working in an organization that is in the second developmental stage of organizational design. What should you be prepared to do?
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Which of the following is a benefit of lateral supply chains?
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In a low-price supermarket chain, the stores, the distribution centers, the third-party logistics provider, and the manufacturers work together to replace what is sold in the stores within less than 24 hours. What type of supply chain structure does that illustrate?
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A company can demonstrate cross-functional integration of planning and capacity for operations. It appoints a leader with experience in external integration, who starts by aggregating purchasing to find volume discounts. This organization is currently trying to grow out of which of the following stages of supply network technology optimization?
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The integrated enterprise stage of supply chain evolution is significantly different from the prior stage in that:
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A company benchmarks its competitor as having unattended internet trading and capable-to-promise (CTP). What stage of supply chain development has this competitor reached?
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A coal mine ships coal to a generating plant that supplies power to a manufacturer that produces a machine that is shipped to a distributor that sells mining equipment to the same mine that began the process. This is an example of a:
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The APICS Dictionary, 15th edition, refers to a supply chain as a "global network." Which of the following correctly indicates what could comprise this network?
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Technically speaking, which of the following combinations of companies is sufficient to constitute a supply chain?
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A company that is changing its business model to that of a lateral supply chain most likely would:
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Which of the following is the supply chain evolution stage in which a nucleus company begins initiatives to improve efficiency, effectiveness, and quality within functional areas?
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In which stage of organizational design development might an organization start having at least one business process that requires collaboration from another corporation even if this is just for one product line or component?
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Which of the following is true of e-business strategy?
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Understanding process interdependencies and responsibility for each sub-step and identifying bottlenecks will provide which supply chain ability?
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A firm's highest stage of production is manufacturing resource planning (MRP II), it uses informal demand planning with disconnected spreadsheets for the supply chain, and it has online catalogs on the internet. What stage of supply chain development has the firm reached?
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What three factors determine cash flow for an organization?
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What group is the primary stakeholder in any business activity?
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Study Notes
Supply Chains Introduction
- Supply chains encompass the entire network of entities involved in delivering a product or service from raw materials to the end consumer.
- Participants in a supply chain include suppliers, manufacturers, distributors, retailers, and customers.
- Efficient supply chain management reduces costs, enhances customer satisfaction, and increases competitiveness.
Key Concepts
- Supply Chain Management (SCM): The coordination and optimization of supply chain activities to maximize customer value and achieve a sustainable competitive advantage.
- Logistics: The segment of the supply chain focused on the transportation and storage of goods.
- Value Chain: A concept that breaks down the activities a company performs to deliver a product, assessing each step for added value.
Importance of Supply Chains
- Globalization has expanded supply chains, making them more complex and interdependent.
- Effective supply chain strategies can lead to reduced lead times, inventory management improvements, and better quality control.
- Risk management within supply chains is critical to mitigate disruptions caused by natural disasters, political instability, or economic shifts.
Trends in Supply Chains
- Technological advancements such as Artificial Intelligence (AI), Internet of Things (IoT), and blockchain are transforming traditional supply chain practices.
- Sustainability and ethical sourcing are gaining importance, pushing companies to adopt greener practices in their supply chains.
- E-commerce growth is reshaping supply chains to be more agile and responsive to consumer demands.
Challenges in Supply Chains
- Managing fluctuations in demand and supply can create imbalances and inefficiencies.
- Cybersecurity threats pose risks to information integrity and operational continuity in supply chains.
- The need for real-time data and transparency is crucial for effective decision-making and optimization across the supply chain.
Supply Chains Introduction
- Supply chains encompass the entire network of entities involved in delivering a product or service from raw materials to the end consumer.
- Participants in a supply chain include suppliers, manufacturers, distributors, retailers, and customers.
- Efficient supply chain management reduces costs, enhances customer satisfaction, and increases competitiveness.
Key Concepts
- Supply Chain Management (SCM): The coordination and optimization of supply chain activities to maximize customer value and achieve a sustainable competitive advantage.
- Logistics: The segment of the supply chain focused on the transportation and storage of goods.
- Value Chain: A concept that breaks down the activities a company performs to deliver a product, assessing each step for added value.
Importance of Supply Chains
- Globalization has expanded supply chains, making them more complex and interdependent.
- Effective supply chain strategies can lead to reduced lead times, inventory management improvements, and better quality control.
- Risk management within supply chains is critical to mitigate disruptions caused by natural disasters, political instability, or economic shifts.
Trends in Supply Chains
- Technological advancements such as Artificial Intelligence (AI), Internet of Things (IoT), and blockchain are transforming traditional supply chain practices.
- Sustainability and ethical sourcing are gaining importance, pushing companies to adopt greener practices in their supply chains.
- E-commerce growth is reshaping supply chains to be more agile and responsive to consumer demands.
Challenges in Supply Chains
- Managing fluctuations in demand and supply can create imbalances and inefficiencies.
- Cybersecurity threats pose risks to information integrity and operational continuity in supply chains.
- The need for real-time data and transparency is crucial for effective decision-making and optimization across the supply chain.
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Description
Introduction to Supply Chains
