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Supply chain management must demonstrate how improved value contributes to improvements in financial performance. What are three major ways supply chain management does this?
Increasing top-line revenue, facilitating exchanges at lower prices, and improving customer service.
Increasing profitability, provides best-practice customer service to each customer, utilizing technology to make products ubiquitous.
Improving asset turns, increasing top-line revenues, and
increasing profitability through cost reductions and efficiencies
Improving customer service, reducing working capital, and creating looser credit terms so customers have longer to pay for their purchases.
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Supply chain management must demonstrate how improved value contributes to improvements in financial performance. What are three major ways supply chain management does this?
A. Increasing top-line revenue, facilitating exchanges at lower prices, and improving customer service.
B. Increasing profitability, provides best-practice customer service to each customer, utilizing technology to make products ubiquitous.
C. Improving asset turns, increasing top-line revenues, and increasing profitability through cost reductions and efficiencies
D. Improving customer service, reducing working capital, and creating looser credit terms so customers have longer to pay for their purchases.
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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:
Sales 80,000
Gross Margin 8,000
Operating Margin 3,000
Current Assets
300,000
Total Assets 450,000
What is Acme Company's Operating Income percentage?
3.8%
In 2017, Apple Computer reported the following results for the 4th quarter of operations:
Sales $46,852 million
Gross Margin $17,813 million
Net Margin $ 9,014 million
Current Assets $128,645 million
Total Assets $375,319 million
Calculate Apple's Return on Assets for the 4th quarter of 2017
2.4%
In 2017, Apple Computer reported the following results for the 4th quarter of operations:
Sales $46,852 million
Gross Margin $17,813 million
Net Margin $ 9,014 million
Current Assets $128,645 million
Total Assets $375,319 million
Calculate Apple's Asset Turnover for the 4th quarter of 2017
12.5%
In 2017, Apple
Computer reported the following results for the 4th quarter of operations:
Sales $46,852 million
Gross Margin $17,813 million
Net Margin $ 9,014 million
Current Assets $128,645 million
Total Assets $375,319 million
Calculate Apple's Return on Assets for the 4th quarter of 2017
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).
Improve quality of products.
Price goods and services competitively, and to reflect value created.
Develop and cross-sell complementary products and services.
Improve product availability.
Effectively promote products and services.
Discount slow-moving goods.
Train salespeople on how to best sell products and
services
Describe actions that the manufacturing organization can take to reduce product costs
Reduce process and product waste.
Increase machine reliability.
Train workers.
Invest in technology.
Reduce cycle time.
Reduce changeover costs
The Highline Company reports the following partial set of income statement data:
Sales 200,000
Depreciation
& Amortization Expense 18,000
Gross Margin 68,000
Interest and Tax Expenses 4,000
Net Margin 15,000
Calculate Highline's EBITDA
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:
A. Revenue Generation
B. Total Cost Management
C. Asset Utilization
D. All of the items above are 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
Starting Inventory 1,000
Production 250
Shipments 300
Ending Inventory 500
550 units
A scorecard that is balanced typically includes which types of measure?
A. Financial
B. Quality
C. Learning and improvement
D. Cycle time
E. All of the above
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?
A. Disruptive technology
B.
Talent/skills requirements
C. Social changes
D. All of the above
E. None of the above
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?
A. Customers don't want the items.
B. The items are in places and at times customers don't want them.
C. Unsold products are sold at reduced prices or scrapped altogether.
D. All of the above
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
sales/ COGS $46,852 mil.
Gross margin $17,813 mil.
Net Margin $9,014 mil.
Current Assets $128,645 mil.
Total Assets
$375,319 mil.
What is Apple's Return on Assets for the 4th Quarter of 2016?
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
Accounts Receivable Balance: $40,000
Cost of Goods Sold: $300,000
Inventory Balance: $87,000
Accounts Payable Balance: $25,000
Calculate the following
matrics:
A/R days
Inventory days
A/P days
Cash-to-Cash days
When making your calculations, please follow conventional rules for rounding up or down to arrive at your answer
Inventory days 106
A/P days 30
Cash-to-Cash Days 108
A firm reports the following data
Sales: $445,000
Accounts Receivable Balance: $50,000
Cost of Goods Sold: $280,000
Inventory Balance: $50,000
Accounts
Payable Balance: $42,000
Calculate the following matrics:
A/R days
Inventory days
A/P days
Cash-to-Cash days
A/R 41
Inventory 65
A/P 55
Cash-to-cash 51
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.
A. Financial
B. Quality
C. Learning and Improvement
D. Cycle Time
E. All of the above
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
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