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Modules1, 2, 3, and 6 Terms in this set (104)Supply chain management refers to a relatively new business phenomenon: The management of upstream and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole. Which of the following is not an element of the integrated supply chain for General Mills' Honey Nut Cheerios? Dairy Cow Farmers The "Great Divide" in the supply chain occurs between demand-focused activities and supply-focused activities A firm is a recognized cost leader but has a strategic goal to become a cost and service leader. What is one initiative that could be planned and implemented to achieve this goal? Offer customized services to key customers Which economic utilities are associated with supply chain management? Form, Time and Place Which economic reason is NOT a reason for students to buy textbooks on Amazon.com? Form Supply chain management extends the linking and coordination of materials management, manufacturing management and distribution upstream to suppliers and downstream to customers. Logistics/supply chain management is closely tied with marketing as it typically fills which "P"? Place The separation between demand-focused activities and supply-focused activities is sometimes referred to as The Great Divide Two kinds of customers walk into the Grizzly Fly-Fishing Shop: college freshmen taking a first-time class and high-end professional executives with fishing experience. In order to deliver the most value to each of these customers, John (the store owner) should: focus on creating supply chains that deliver the specific form, time and place utility that each customer segment is looking for, at a price that each segment is willing to pay. Among the following examples, which refers most closely to the place utility that supply chains provide? An Australian grocery store provides food in remote towns A Wall Street Journal article reports on Delta's recent investment in luggage tracking, switching to baggage tags with radio-frequency ID chips embedded. This will allow the airline to accurately track customers' baggage in real time. Even though the new technology costs a great deal, Delta could save on fewer luggage claims and deliveries. What does this example imply? Companies need to evaluate cost-to-serve versus perceived benefits Firms have been talking about "the Great Divide" as one of their biggest challenges. Among the following approaches, which would NOT help a business deal with the great divide? Creating a production-oriented focus across the supply chain One way to think about the proper role of the supply chain in the firm is the following: Delivering on the promise made to customers Which of the following utility does General Mills provide when it uses food ingredients to make Honey Nut Cheerios? Form You've finally graduated and are in the job market. In an interview with Widget Production Company, you start discussing supply chain management with the hiring manager. He tells you that at WPC, logistics and supply chain management basically mean the same thing. This should indicate to you that: WPC probably does not have a clear conception of supply chain management, because SCM is about systematic integration across multiple functions, including purchasing, manufacturing and logistics. It is said today that marketing is responsible for identifying profitable demand and creating products to incent customers to buy, while supply chain management's role is to: satisfy demand by putting the product in customers' hands at the right time, right place, right quantity and right price In the Fiji water example, what key time and place challenge does Fiji bear compared to Dasani? Fiji only has one source, while Dasani has many Supply chain management must demonstrate how improved value contributes to improvements in financial performance. What are three major ways supply chain management does this? Improving asset turns, increasing top-line revenues, and increasing profitability through cost reductions and efficiencies Which emerging megatrends will greatly challenge supply chain managers? Disruptive technology, talent requirements and social changes On the demand creation side, _____________ is concerned with determining and shaping long term customer need, and innovating offerings to satisfy those needs Marketing Downstream, the priority is to deliver the form, time and ________ for a specific customer order. Place Should all customers receive the same level of customer service? No What negative can result from large lot, long lead time operations? The items are in place and at times customers don't want them In relation to the overall supply chain, ______ places a priority on cost savings while _______ places a priority on doing whatever is necessary to deliver form, time and place as promised on a specific order. Upstream, downstream If your company is trying to determine what customers want, the best source of information is: customers What is a very popular framework where supply chain processes are portrayed as involving planning, sourcing, making and delivering? SCOR model The UT College of Business Administration creates a list of classes offered each semester. However, the options do not always meet student want and needs. This is an example of The Great Divide According to the concept of Market Driven Supply Chain, directly before you define customer service objectives, you first should: Segment customers A first-time buyer purchasing school supplies at Wal-Mart can expect this level of customer service: Basic Service Ismail's wife recently purchased a new pair of hiking boots. She initially chose the company because of price and availability. Through the purchase and fulfilment process she was also impressed with the level of communication and assistance she received. All of these factors combined to provide a high level of: Customer value Customer service standards should be set based upon An accurate understanding of actual customer needs
Internally generated customer service and quality metrics accurately reflect a customer perspective. Do you agree with this statement? I disagree: Customer service metrics should be jointly defined by the supplier and the customer Companies lose money on a significant percentage of active customers because They cannot identify the actual costs of selling to individual customers Establishing a segmented customer service policy involves all of the following EXCEPT Establishing a standardized customer service policy for all customers What part of the Supply Chain Operations Reference (SCOR) model involves turning the raw material into a finished product? Make Which part in supply chain misalignment is focused on "up time" and has no visibility of customer service or inventory metrics? Make Which part in supply chain misalignment is focused on the short term planning horizon and is measured by purchase price variance? Source Changes in the business _______ and ________ help shift the focus of functional goals in the departments of a business (finance, marketing, etc.) to total value creation for the enterprise Reward system and culture Which of the following supply chain functions should be focused on customer service because of its timely delivering of products to consumers: logistics At which step in the process can a supply chain manager improve their resource footprint through reducing waste, rework, and scrappage? Make Which of the following is willing to do things for the customer that may lose money for the firm? Logistics High performing companies are able to bend the chain to enable alignment between ___________ and delivery. Manufacturing and Purchasing Supply chains that consistently deliver the strongest business results have fully integrated end-to-end organization with common ________. Metrics Supply chains that consistently deliver the strongest business results have effective IT and work processes that enable superior results by providing _____________ teams the proper tools and information. Multifunctional The Supply Chain value proposition framework represents the interactions between Revenues, costs and assets The Acme Company reports the following data: 3.8% In 2017, Apple Computer reported the following results for the 4th quarter of operations: 2.4% In 2017, Apple Computer reported the following results for the 4th quarter of operations: 12.5% In 2017, Apple
Computer reported the following results for the 4th quarter of operations: 2.4% According to the E&Y survey of supply chain professionals, what is the priority of the supply chain organization? improving service quality Which of these is an example of a "tax haven" a state in the US with low corporate taxes Which of the following actions is most likely to have the largest impact on profitability increase revenues Discuss actions that a firm can take to improve revenues Design products that a customer wants (understand customer needs). Describe actions that the manufacturing organization can take to reduce product costs Reduce process and product waste. The Highline Company reports the following partial set of income statement data: 37,000 Which of the following actions will most directly lead to more cash availability Collect accounts receivable more quickly How does controlling inventory levels impact the expenses of an organization When a firm has inventory, it has expenses related to handling, storing, and tracking the inventory. It has expenses related to equipment and people to move the inventory. The firm has to secure the inventory, and often will insure the value of the inventory. With greater amounts of inventory, all of these expenses go up. Also, firms incur expenses related to inventory damage, obsolescence and theft. These are harder to control as the amount of inventory rises. Another impact is that when a firm's cash is tied up in inventory, it may have to borrow cash to meet other operating needs, so there is a cost of capital of having excess inventory. Describe the benefits of keeping accounts receivable balances low Uncollected accounts receivable creates many costs for a firm. The firm has to employ people (or a credit agency) to collect balances due. Unpaid balances may create poor relationships between the firm selling the goods and services and the customers owing money. Bad debt expense is likely to be greater as A/R/ balances rise. The firm may have to borrow funds until the customers pay Asset Turnover is an indication of how productive _________________. a company's assets are at generating revenue The metric used as a proxy for a company's cash flow is ______________ EBITDA Which of the following is NOT a primary purpose of a companies cash Management bonuses A reduction in a company's inventory investment will result in a ___________ in cash flow increase
Which of the following areas are not impacted by Supply Chain: All of the items above are impacted by Supply Chain Data visualization involves using software packages to better see trends and patterns in data Overall cycle time from order to customer delivery If a company chooses to explore how best to employ a crowdsourced model of labor/assets and chooses to benchmark Uber, which type of benchmarking are they using? Process If the goal is maintain steady levels of inventory at 1,000, what should supply chain planning ask the manufacturing facility to produce in Month +1? Current
Month Month +1 550 units A scorecard that is balanced typically includes which types of measure? All of the above Planning processes heavily utilized IT systems, but a planner is still vital to ensure a high quality plan true What planning approach is critically important for a planner to be successful in their role? Exception based The perfect order concept is best measured by the following the order was received in good condition when expected The process which takes the demand forecast and plans what material is required to be purchased from suppliers over upcoming periods is Supply Planning The process that determines how much inventory to carry and where to place it is Logistics and Distribution Planning
If a company chooses to explore how best to employ a crowdsourced model of labor/assets and chooses to benchmark this process with similar processes at other companies, which type of benchmarking are they using? Competitive How does Zara use its supply chain capabilities to generate competitive advantage Speeding cycle times of new fashions from design to store shelf to ensure the trendiest fashions Supply chain management refers to: the management of up and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole. Which of the following companies refers to itself as a "technology company merged with a supply chain"? Amazon How does supply chain management create value Form, time, place, exchange The "Great Divide" in supply chain management occurs between demand-generating activities and demand-fulfilling activities · What megatrend will greatly challenge supply chain managers? All of the above Supply chain management refers to a relatively new business phenomenon of the management of upstream and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole What part of the Supply Chain Operations Reference (SCOR) model involves turning the raw material into a finished product Make In relation to the overall supply chain, ______ place a priority on cost savings while _______ place a priority on doing whatever is necessary to deliver form, time, and place as promised on a specific order upstream operations, downstream operations · What negative outcomes can result from large lot-sized, long lead-time operations? All of the above ____________ the chain facilitates better strategic alignment between supply chain operations Bending What did Caterpillar do in 2013 that led to a better integration of its supply chain functions Formed an integrated supply chain group to manage it's supply chain Which of the following would be a metric for a senior level supply chain manager Cash-to-cash cycle What is a company's optimal service level The point where the cost and revenue curves are farthest apart In 2016, Apple Computer reported the following results for 4th Quarter of operation 2.4% According to an E&Y survey of supply chain professionals, what is the priority of the supply chain organization? improving service quality Which of these is an example of a "tax haven" a country or jurisdiction with very low corporate taxes Which of the following actions will most directly will lead to more cash availability Collect account receivable more quickly · Sales: $460,000 Inventory days 106 A firm reports the following data A/R 41 Which one of the types of planning was not introduced in this module DatePlanning Planning processes heavily utilized IT systems, but a planner is still vital to ensure a high quality plan True Which planning approach was discussed in this module exception based Supply chain measurements are often called all of the below except critical paths Supply chain measurement is important for all the reasons below except To build the income statement End-to-end supply chain measures are the most important type of supply chain metric true A scorecard that is balanced typically includes which type of measure. All of the above Metrics provide a complete picture of supply chain performance. False What are the three types of benchmarking discussed Competitive, Process, Internal Data visualization involves using software packages to better see trends and patterns in data True Sets found in the same folderSupply chain exam 2118 terms amandainmannnn28 BUAD 331 Exam 386 terms ocwolford BUAD331 - Unit 1119 terms Maxdiggity Supply chain (text-book modules 1 and 2)73 terms amandainmannnn28 Other sets by this creator43145 terms utreras09PLUS Mod. 748 terms utreras09PLUS Mod. 653 terms utreras09PLUS Mod. 561 terms utreras09PLUS Recommended textbook solutionsHuman Resource Management15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine 249 solutions Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Service Management: Operations, Strategy, and Information Technology7th EditionJames Fitzsimmons, Mona Fitzsimmons 103 solutions
Operations Management: Sustainability and Supply Chain Management12th EditionBarry Render, Chuck Munson, Jay Heizer 1,698 solutions Other Quizlet setsEnglish Chapter One Grammar14 terms Marg487 Quiz 1 unit 238 terms Alex_Docherty Chapter 18 Heart110 terms ArmandoBio156PLUS Linear Algebra Test 3 (T/F)44 terms mack3nzie77 Related questionsQUESTION Trent Automobiles was expecting a large shipment of metal the previous week. But three weeks later, the shipment still hadn't arrived. A lot of time was lost and the expenses shot up. This will result in a lack of: 6 answers QUESTION A batch process is less flexible than an assembly line and less efficient that a job shop 15 answers QUESTION What is the Critical Chain Method? 15 answers QUESTION T or F: When well-informed, specialized salespeople provide useful information to potential customers, these customers do not purchase the new product from a lower-cost outlet. 3 answers Which of the following is the top reason why executives are using SCM to manage extended enterprises?Process cycle timeincrementsAccording to the figure top reasons executives use SCM to manage extendedenterprises cost control is the top reason.
What is supply chain management and why is it important quizlet?Why is the Supply Chain so Important? The Process of planning, implementing and controlling supply chain operations. Managing flow of information through supply chain in order to attain the level of Synchronization that will make it more responsive to customer needs while lowering costs.
Which of the following is a key to SCM success quizlet?Which of the following is a key to SCM success? Make the sale to the manufacturers.
What are the 5 basic components of a supply chain management SCM system quizlet?Plan, source, make, deliver, and return are the five basic supply chain management components.
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Which of the following is a top reason why executives use SCM to manage extended enterprises quizlet?
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