local optimization can do what? Show
Maximizing local profit or minimizing cost in a supply chain is best described as? magnify fluctuations (marketing forgets to tell OM something is on sale, surge in demand, may run out) What type of negotiation strategy is based on published, auction, or indexed prices? market-based price model A supply chain ends with? starts with? a satisfied customer. What is transferring a firm's activities that have traditionally been internal to external suppliers? outsourcing The advantage of having few suppliers is to form a long-term relationship. With regard to the cost-based price model negotiation strategy, which of the following is true? Prices are based upon supplier costs. Which of the following statements is TRUE? a. When multiple suppliers are used, having geographically dispersed suppliers could lessen the probability of all failing simultaneously. b. It is usually less risky to use single suppliers rather than multiple suppliers. c. When multiple suppliers are used, having geographically centralized suppliers could lessen the probability of all failing simultaneously. d. The risk mitigation effectiveness of using multiple suppliers has nothing to do with the probability of a super-event occurring. When multiple suppliers are used, having geographically dispersed suppliers could lessen the probability of all failing simultaneously. Which of the following is NOT one of the major causes of the bullwhip effect? shared demand information. What term is used to describe the outsourcing of logistics? Third Party Logistics The transfer of some of what are traditional internal activities and resources of a firm to outside vendors is __________. Outsourcing. Which one of the following distribution systems offers quickness and reliability when emergency supplies are needed overseas? airfreight The trucking industry is establishing Web sites, which let shippers and truckers find each other in order to ________. improve logistics efficiency A furniture maker has delivered a dining set to the end consumer rather than to the furniture store. The furniture maker is practicing __________. dropshipping Which of the following is not an advantage of the "few suppliers" concept? Sharing trade secrets between firms Which one of the following performance measures is not true of a world class firm? Long lead time The purchasing approach that holds the suppliers responsible for maintaining the necessary technology, expertise, and forecasting ability plus cost, quality, and delivery competencies is __________. -commodity products, suppliers compete, purchasing based on 1 price many suppliers Which of the following is an aspect of environmental risk in supply-chain management? political issues With the growth of the JIT, which of the following distribution systems has been the biggest loser? railroads
A disadvantage of the "few suppliers" strategy is __________. the high cost of changing partners The three major variations of online catalogs are grouped by __________. Internet trading exchange provides a centralized online system for certain industries and elimiates the need to contact multiple companies online auctions: way to unload excess material or inventory, low barriers to enter. reverse auction for buyers- buyer intiated the process by submitting the desired product or service, potential suppliers then submit bids, bid in downward direction vendors, intermediaries, and buyer exchange systems Which of the following is an opportunity for effective management in the supply chain? channel assembly Local optimization is a supply-chain complication best described as __________. optimizing one's local area without full knowledge of the organizational need What type of negotiation strategy requires the supplier to open its books to the purchasers? cost-based price model What type of negotiation strategy does not generally foster long-term relationships? competitive bidding Which of the following is not a concern of the supply chain? maintenance scheduling Keeping a product generic as long as possible before customizing is known as __________. postponement Which of the following supply-chain strategies creates value by allowing suppliers to have economies of scale? long term partnering with a few suppliers Which of the following best describes vertical integration? developing the ability to produce goods or services previously purchased addit info-integration may be forward, towards the customer, or backwards, towards suppliers Which one of the following is NOT a supply-chain strategy? Short-term relationship with few suppliers A restaurant runs a special promotion on lobster and plans to sell twice as many lobsters as usual. When this large order is sent to the distributer, the distributer assumes the large size is a trend, not a one-time event. The distributer, therefore, places an even larger order with the lobsterman. This is the result of __________. the bullwhip effect The three classic types of negotiation strategies are __________. cost-based price model, market-based price model, and competitive bidding
More reliance on supply chains means ____________ Fewer suppliers____? more risk increase dependence Occurs when orders are relayed through the supply chain with fluctuations increasing at each step. bullwhip effect When calculating bullwhip effect, if measure is greater than one then ________. 1. variance amplification is present Disaster risks are also known as decision trees ________ reduce shipping and productions costs BUT increase inventory holding and do not reflect annual sales. large lots *contribute to bullwhip Which shipping system moves the vast majority of manufactured goods? trucking Which of the following is true regarding the cost and speed of shipments? Faster methods tend to involve smaller shipment sizes while slower methods involve very large shipment sizes. Hoarding supplies for fear of a supply shortage? shortage gaming Large, infrequent orders leading suppliers to order even larger amounts? order batching What is the technique where a manufacturer sends individual components (rather than assembled units) to a distributor? channel assembly The four stages of supplier selection, in order, are: supplier evaluation, supplier development, negotiations, and contracting Supplier selection technique factor weighting technique objectively analyzes a variety of factors both quantitative and qualitative The objective of supply chain management is to: structure the supply chain to maximize its competitive advantage and benefits to the ultimate consumer What is choosing between obtaining products and services externally as opposed to producing them internally Make-or-buy decisions What are some advantages of joint? formal collaboration, enhance skills,secure supply, reduce costs Challenge of joint? cooperation without diluting brand or conceding competitive advantage Keiretsu Networks are a: -middle ground between few suppliers and vertical integration -Supplier becomes
part of the company coalition what do virtual companies rely on? variety of supplier relationships to provide services on demand -Allow the creation of unique enterprises to meet changing market demands push merchandise into the supply chain for sales that have not occurred incentives local optimization,incentives, large lots contribute to what? bullwhip effect *impact matters vendor
based management has vendors maintaining inventory for the buyers, often physically doing so into directly the buyers facility >creates mutually beneficial relationship between customer and supplier. availability of inventory at lowest cost A supplier assumes the role of inventory planner for the customer -reduces stockouts, less risk, lower cost long term commitments with suppliers to purchase items which are later delievered when actual order is released blanket order standardization involves use of common components of different products and cross production facilites Some companies require for supplier certification: qualification,education,certification contracting besides rules of engagement for relationship, it moderns the supply chain contract is crafted to enable the parties to share risk, benefits, and creating incentives e-procedurement what three forms do the catalogs it come in? speeds purchasing, reduces costs, integrates supply chain provided by the vendors,intermediaries,industry specfic changes often develop by buyers objective of logistics management? obtain efficient operations through the integration of all material acquisition, movement, and storage activities --essentially moving and storing goods through supply chain -frequenctly used for outsourcing core competencies of outsourcing value, rare, difficult for replication comine two modes of transportation into one multimodal biggest effect in lead time? transportation warehouses can perform consolidation and break-bulk to reduce shipping costs by taking advantage of full truck load discounts Outsourcing logistics can reduce inventory, costs, and improve delivery reliability and speed. through what? also:coordinate supplier inventory with delivery services third party logistics the design distrubtion networks to meet customer expectation suggests three criteria: rapid response-more locations/availability 3 primary cost considerations when determining the best number of distribution facilities inventory costs-costs w/maintaining
inv make up logistics costs Which of the following is NOT one of the sources? well the sources are: many suppliers T or F: Most of the revenues do not go towards purchases false Which is the false answer? Short term relationships with few suppliers What is the bullwhip formula? variance of orders / variance of demand any company with multiple facilites must determine which products to procure centrally for all the sites and which to purchase locally at each site anedoctes can be found in many firms about different branches getting different deals from the same supplier Leverage volume centralized purchasing
storing goods in a warehouse for a long period of time remains an ever present activity in many industries. often less expensive than alternatives such as: accepting back orders,losing sales, paying for express delievery, or storing goods at local sites may use conveyor belt systems due to size warehousing through innovate scheduling of shipments, warehouses can perform consolidation and break bulk activites to reduce shipping costs by taking advantages of full truck load discounts true via channel assembly, warehouse can be a excellent place for implementing what? postponement integration may be forward, towards the customer, or backwards, towards suppliers through what vertical integration how is accurate pull data generated? by sharing point of sales information and computer assisted ordering a lot size reduction occurs when? the benefits of large orders are diminished ex.providing discounts based on annual volume rather than units per order or reducing cost of placing the order single stage control of replishment does what? implies designating one supply chain number to monitor and manage inventory for the whole system Collaborative planning, forecasting, and replenishment (CPFR) involves members of the supply chain: sharing, planning, forecasting, and inventory info with each other
electric ordering funds transfer do what reduce paperwork and reduce transaction costs bypasses the seller and reduces costs. ships components directly to customers w/out using seller dropshipping Speeds purchasing, reduces costs, integrates supply chain E-procurement What does the S stand for? super event What does the U stand for? unique event What type of negotiation strategy requires the supplier?The market-based price negotiation strategy requires that the supplier open its books to the purchaser.
Which of the following supply chain strategies creates value by allowing suppliers to have economies of scale?Which of the following supply-chain strategies creates value by allowing suppliers to have economies of scale? Long-term partnering with a few suppliers is the supply-chain strategy that creates value by allowing suppliers to have economies of scale.
When using the low cost strategy for supply chain management the firm should invest aggressively to reduce production lead time?When using the low-cost strategy for supply chain management, the firm should invest aggressively to reduce production lead time. Savings in the supply chain exert more leverage as the firm has a lower net profit margin. A reduction in inventory costs is one reason for making rather than buying.
What is a supply chain designed to optimize both forward and reverse flows?Closed-Loop Supply Chain. designed to optimize both forward and reverse flows.
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Maximizing local profit or minimizing cost in a supply chain is best described as __________.
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