Supply Chain Chapter 1

It was intense global competition that led manufactures to adopt Supply Chain Management (SCM) and other practices such as Just-in-Time (JIT) A. True B. False

A. True

Supply chain management starts with understanding the flow A. True B. False

A. True

Which one of the following is NOT a common modes of transportation in the supply chain? a. Air b. Bus c. Pipeline d. Rail e. Truck f. Water

B. Bus

Service firms offer intangible products (meaning products that cannot be physically touched), therefore, they do not have a supply chain. A. True B. False

B. False

The goal of Supply Chain Management is to increase customer service by increasing inventory and reducing costs. A. True B. False

B. False

Which of the following statements is TRUE? A. Supply chain management was invented by the auto manufacturing industry B. Strategic partnerships are seen as one of the foundations of supply chain management C. Purchasing is seen as the final and most difficult step in the supply chain D. Logistics and Supply Chain Management are synonymous terms (i.e., they mean the same thing).

B. Strategic Partnerships are seen as one of the foundations of supply chain management

Successful modern supply chain management typically includes the practice of ? a. Keeping high inventories throughout the supply chain b. Always purchasing materials with the lowest per unit cost c. Collaborating and sharing information between supply chain partners d. Issuing ultimatums to your supply chain partners

C. Collaborating and sharing information between supply chain partners

Which one of the following is NOT one of the four Foundations of Supply Chain Management? a. Logistics Management b. Operations Management c. Demand Management d. Supply Management e. Integration

C. Demand Management

Integration -Managing all of the enabling systems necessary to facilitate the complete integration of the operations, supply, and logistics functions outlined above

Enabling Systems Supply Chain Risk and Security Management Performance Measurement Project Management

Operations Management -Managing Internal Resources

Forecasting and Demand Planning Planning Systems Inventory Management Process Management

What are the goals of Supply Chain Management?

Increase customer service and reduce inventory investment and operating expenses

What are the 4 foundations of supply chain management?

Operations management, supply management, logistics management, and integration

Pull or Make-to-order

Producing stock in response to actual demand

Push or Make-to-stock

Producing stock on the basis of anticipated demand. Demand forecasting can be done via a variety of sophisticated techniques.

Supply Management -Managing all of the supplies and suppliers that are needed to run the business

Purchasing Management Strategic Sourcing Supplier Relationship Management

What are the 5 modes of transportation?

Truck, Rail, Air, Pipeline, Water

Logistics Management -Managing all of the movement and storage of products and materials within the supply chain, whether the flow is forward or reverse

Warehousing & Distribution Transportation International Trade Management Customer Relationship Management Service Response Logistics