Ops: Mngt of Bus Processes Exam 3

What are the 7 characteristics of High-quality data to their definitions?

-Accurate: data must be correct and depict reality. -Accessible: data must be readily available for decision making purposes. -Relevant: data must contain details and support analysis. -Timely: data must be current. -Transferable: data must be portable and readable by multiple systems. -Reliable: data must come from credible sources and be unaltered. -Usable: data must support stronger decision making.

What are the key supply chain data requirements

-Accurate: data must be correct and depict reality. -Accessible: data must be readily available for the decision making process. -Relevant: data must be current. -Timely: data must be portable and readable by multiple systems. -Reliable: data must come from credible sources and be unaltered. -Usable: data must support stronger decision making.

What are the International Transportation Decisions and on what items help you select/choose?

-Airlines, Trucks, Pipelines, Railroads, Boats, and Intermodal. -Capacity, transit time, safety, and cost.

How is global SCM different from domestic SCM?

-Better, faster, cheaper. -More complexity, regulation, lead time, participants, planning, distance, risks, and expertise.

Which of the following disruptive technologies is being leveraged by Maersk to create a global tamperproof system for digitizing trade workflow and tracking shipments end-to-end?

-Blockchain: this technology reduces delays, increases security, and decreases international barriers which can contribute to an increase in the total global trade volume by almost 15%.

Business Intelligence vs. Predictive Analytics

-Business Intelligence: Standard and ad hoc reporting, dashboards, alerts, and queries. (Structured data, traditional sources, and manageable data sets) -Predictive Analytics: Optimization, predictive modeling, forecasting, statistical analysis. (Structured/Unstructured data, internal/external data, and massive data sets)

What and who is involved in the U.S. customs entry process?

-Customs brokers: 3rd party logistics professional hired by imported to interpret complex entry rules. -Expertise can clear customs safely, securely, and quickly and ensure legal minimum duties are paid.

What are the Global Production alternatives in managing risk, investment, and control?

-Exporting, Licensing, Franchising, Contract Manufacturing, Joint Ventures, and Direct Investments. (In order from low to high risk, investment, and control)

Match the following risk mitigation techniques to their corresponding examples/descriptions.

-Focus on damage prevention: properly pack goods, use waterproof packaging, and use marking on boxes to indicate proper orientation. -Limit theft opportunities: work with trusted partners, avoid high-risk routes, stay away from highly congested ports, and minimize brand markings on packaging. -Manage the financial risk: purchase cargo insurance from an underwriter.

Match the "letter segments" of Incoterms to their corresponding description.

-Group E: Departure Terms -Group F: Main Carriage Unpaid -Group C: Main Carriage Paid -Group D: Arrival

Key differences in E, F, C, D Incoterm Groups.

-Group E: Departure Terms (EXW) Buyer has full responsibility from the door of seller and total responsibility also means total control. -Group F: Main Carriage Unpaid (FCA, FAS, FOB) Seller responsible for packing the goods and getting the good to a named place, usually a port of export and buyer responsible from the named place to their location. -Group C: Main Carriage Paid (CFR, CIF, CPT, CIP) Seller responsible for getting goods through port of export, and delivered to the port of import and buyer is responsible for getting goods through port of import and on to the final destination. -Group D: Arrival (DAT, DAP, DDP) Seller takes full responsibility for getting goods to the buyer's location and total responsibility = total control.

Harmonized Tariff Schedule (HTS) and how to determine duty rate.

-HTS: all goods imported into the U.S. are subject to duty payment in accordance with their classification. HTS used a hierarchal structure (based on the International Harmonized Commodity Description and Coding System) for describing all goods in trade for duty calculation, quota, and statistical purposes. Add up the goods' value, freight costs, insurance, and any additional costs, and multiply the total by the duty rate.

International air and ocean transportation advantages.

-International air: Transit time and safety -Ocean transportation: Capacity and cost

What are the drivers of global production? What are its advantages and disadvantages?

-Labor cost differences, emerging market potential, reduction of transaction costs, reduction of trade barriers, access to necessary resources, and risk reduction. -Advantages: allows companies to extend their reach around the world through a variety of ownership options. -Disadvantages: Regulatory structures, language and cultural barriers, currency fluctuations, and SC network integrations.

Which disruptive technologies is most commonly talked about in regards to "Bit Coins?"

Blockchain

Which vessel type emitted the most "annual carbon-dioxide emissions" overall in 2019?

Bulk Carriers

In the context of global manufacturing methods, Licensing generally requires more capital investment than joint ventures.

False

What are freight protection risks?

Freight theft, product damage, shipment delay, and limited carrier liability.

Which of the following is NOT one of the three Global Supply Chain Management?

Global Manufacturing (Export Preparations, International Delivery, and International Sourcing are the 3 Global SCM)

Within the context of Freight Protection, which of the following is NOT a risk?

Poor Documentation (Freight Theft, Limited Carrier Liability, Shipment Delay, and Product Damage are risks)

Incoterms clarify important issues for buyers and sellers. Which of the following is NOT one of those issues?

Provide the ground rules for negotiations between parties.

What is NOT one of the goals of Supply Chain Technology?

Quality Control

Which of the 5 supply chain technologies involves an opportunity for connected and sensored items to communicate information and deliver insights that will upend traditional supply chain pracices?

The Internet of Things (IoT)

Distinguish between the goals of Supply Chain technology.

-Optimization: using mathematical modeling to assess your options and find the solution that satisfies Supply Chain stakeholders. -Cross-chain visibility: current data across the Supply Chain is a prerequisite for effective decision making; visibility tools capture real-time about the state of the Supply Chain, filter it , and put it into an accessible format for users. -Speed to Market: ensures product velocity aligns with customer needs. -Agility: helps the company sense and respond to changing market conditions. -Collaboration: supporting tools like the internet, virtual private network, and cloud computing link geographically dispersed Supply Chains to achieve seamless information sharing. -Adaptability: requires a flexible geographically dispersed network, supported by strong technology. -Differentiation: organizations must align demand and supply to optimize profit. -Risk Management: companies should use predictive analytics and risk management technology to minimize their threats.

How can organizations delay or avoid paying import duties on products?

-Organizations can store imports at Free trade zones and bonded warehouses.

What is the purpose of Global Sourcing? What are the cost and risks for Global Sourcing?

-Plans, implements, and controls the cross-border flows of materials, money, and information between companies in different countries. -Costs: (added up equal 15-20% of product value) 1) Landed cost (purchase price of goods, delivery charges, insurance fees, and customer duties), 2) 3rd Party Fees (documentation prep, export packing, and related charges), 3) Sneaky costs (in-transit ownership costs, warehouse expenses, costs related to delays, damage, or lost sales). -Risks: 1) Longer lead times 2) Higher logistics costs 3) Higher transportation costs 4) Increased changes for in-transit damage and theft 5) Lower intellectual property protection 6) Reduced supply chain visibility

Place the 4 decisions of intermodal transportation in order by corresponding step.

-Step 1: Type of Service: -Step 2: Mode -Step 3: Carriers -Step 4: Routes

Incoterms

-the global standard for the interpretation of the most common terms in foreign trade. -they clarify the obligations of each party, assign responsibility for payments, and articulate the risks assumed by each party.

What are the primary documents used in global trade?

1) Commercial Invoice: you must identity the buyer and seller and accurately provide date and terms of sale, quantity, weight, and/or volume of shipment, type of packaging, complete description of goods, unit value and total value, and insurance, shipping and other charges. 2) Bill of Lading: evidence of contract of carriage, receipt of goods, and document of title to the goods. 3) Insurance Certificate: assures the coverage of loss or damage to the freight during transit. 4) Certificate of Origin: verifies the country in which the goods were manufactured. 5) Letter of Credit: protects the buyer and the seller. (guarantees the seller will receive payment as long as the delivery conditions are met)

What are the aspects of the Customs Clearance process?

1) Entry Filing: key documents are entry manifest, commercial invoice, packing lists, and bond evidence. 2) Arrival: automated manifest system for time sensitive products, perishable goods, and tariff quota merchandise. 3) Examination: value of goods for dutiable status, country of origin, prohibited articles or illegal contraband, and make sure goods match the invoice. 4) Classification: U.S. harmonized tariff schedule, hierarchal structure for duty calculation, quotas, and statistical purposes. 5) Taxation Duty: based on declared value, country of origin, and quotas. 6) Release: requirements completed and duties paid.

What are the major categories of Supply Chain Software?

1) Supply Chain Planning: provide accurate, detailed info about issues that affect planning and development of supply chain activities. PROVIDES: decision support planning, what-it scenario analysis, and real-time demand commitments. 2) Supply Chain Execution: facilitate improved performance of tasks across the supply chain. PROVIDES: greater control of costs, stronger customer service, improved inventory visibility, faster throughput, and higher inventory turns. 3) Event Management and Visibility: help manage problem scenarios and provide, timely info to ensure that the right product gets to the right place at the right time. PROVIDES: visibility of critical flows, early warning signals, trigger corrective actions, aid for decision-makers, and aid in keeping managers informed. 4) Business Intelligence: extract key data across the supply chain and provide it for key decision makers. PROVIDES: self-service reporting, performance score carding, dashboard development, activity monitoring, and cross-chain collaboration. 5) Facilitating Tools: enterprise resource planning systems, supplier relationship management software, customer relationship management tools, and automatic I.D. tools.

If you are helping Walt Weiss develop his infield shift for the World Series, which technology would you use to determine the patterns of the opposing team?

AI

What is the oldest form of insurance, going back almost 500 years, and can be provided as an add-on by the transportation carrier or from a 3rd party?

Cargo Insurance

Reporting arrival of goods, Release, and Accounting for duties and/or taxes are steps in which aspect of importing to the U.S?

Clearance Procedures

What Global Supply Chain Management Activities involves negotiating the terms of trade, preparing the trade documents, and protecting the freight?

Export Preparations

Which of the following is NOT a growth driver of global manufacturing?

Increase in trade barriers (Risk Reduction, Labor cost differences, and Emerging market potential are growth drivers)

What is the final activity within Global Supply Chain Management?

International Delivery

Calculate Exchange Rate.

Money after exchange / Money before exchange

Based on class conversion, which mode of transportation creates the greatest risks of international freight loss, damage, and theft?

Ocean Transportation

When deciding on a mode of transportation which of the following is NOT one of the main 4 considerations?

Reliability (Cost, Transit Time, Safety, and Capacity are the 4 main considerations)

A type of supply chain software that helps manage problem scenarios and provide accurate, timely info to ensure that the right product gets to the right place at the right time.

Supply chain event management applications

This category of SCM software includes applications that control, monitor, and allocate resources related to various supply chain operational processes.

Supply chain execution and order fulfillment (SCE)

Which domestic carrier mode has the advantages of Accessibility, Reliability, and Product Protection?

Trucks

The first step to improving resilience is to gain a clear view of supply chain risks at the company, business segment, or product level, depending on which level is likely to be actionable for a given organization.

True

What is NOT a valuable strategy for the final leg of the global supply chain journey?

Use trucks for final deliveries that exceed 1,000 miles

What are the 5 questions of global supply chain management to their corresponding description/explanation?

What is global supply chain management? Focuses on planning, implementing, controlling the cross-border flows of materials, money, and information between companies in different countries. How are global SCM activities coordinated? Through 3 channels of activity management: Transaction channel, communication channel, and distribution channel. Why is global SCM so complex? Traditional challenges, an expanded network of different links and nodes, international transactions require more steps, and broader geographic area than domestic SCM. What are the cost considerations in global SCM? Landed costs, 3rd party fees, and sneaky costs. Does global SCM create value? Low supply chain create profitable supply and demand matching, suppliers gain access to global markets at better costs, consumes gain wider variety of affordable goods, and workers gain access to better jobs that boost their standard of living.

What is the role of ports in global supply chain operations?

from port to final destination, no direct move, limited access, and congestion. Seaport, airport, trucks, and trains. Trucks are less than 750 miles with ADVANTAGES of accessibility, reliability, and product protection and DRAWBACKS of limited capacity and higher costs. Trains are more than 750 miles with ADVATAGES of high efficiency, large capacity, and low costs and DRAWBACKS of accessibility limitations and inconsistent service.