Download SCM 300 Exam 1: Supply Chain Management Questions and Answers and more Exams Business Systems in PDF only on Docsity!
Questions & Answers | Already Graded A
(100% correct)
3 branches of supply chain procurement (purchasing), operation, logistics, reverse Procurement (purchasing) the branch of supply chain where deals happen, negotiations for the best price on materials, equipment, goods, and services. acquiring materials and placing orders. Operations the branch responsible for making business processes effective and efficient (help create high quality products/services using fewest resources possible). Logistics is concerned with transportation, finding the right partners or best ways to get the product or service from origin to consumption. Key variable in elementary inventory calculations Q - lot size D - annual demand C - cost to purchase one unite
Questions & Answers | Already Graded A
(100% correct)
H - cost to hold on unit of inventory in one year S - cost to place a single order Annual cost to purchase inventory DC Annual Holding Cost (AHC) (Q/2)*H Annual Ordering Cost (AOC) (D/Q)S Equation for total cost DC + AHC + AOC Economic Order Quantity (EOQ) the lot size that minimizes total annual inventory holding and ordering costs, making it the optimal lot size = SQRT (2DS/H)
Questions & Answers | Already Graded A
(100% correct)
going backwards, moving towards the supplier. ex: finding ways to maximize efficiency coming back. see if all the boxes that have arrived at the retailer are empty and not damaged to send them beck for reuse. developing relationships with the companies first tier supplier to enhance and better communication. Supply chain competitive priorities cost, quality, speed, flexibility For example, a fast food restaurant will customize these priorities differently from a higher up restaunt Cost material, energy, waste, transportation Quality design, reliability, consistency, materials or fabrics speed delivery, on time, innovative time flexibility
Questions & Answers | Already Graded A
(100% correct)
customization, size of orders, design Types of inventory
- raw materials
- work in process
- finished goods
- maintenance, repair, and operating
- market inventory
- safety stock (buffer stock)
- anticipation inventory
- pipeline inventory
- inventory visibility Raw materials materials that will be used to create an item or a service. Have not yet begun their manufacture to create them into a good or a service. Work in Process (WIP) Items that have gone through the manufacturing but have not been completed. Example, a partially assembled shovel.
Questions & Answers | Already Graded A
(100% correct)
Pipeline Inventory Inventory that is moving from one point in the supply chain to another. For example, the amount of time it takes a shovel from raw material (Point A) to being on the shelves (Point B). this is also known as lead time.
- To calculate Pipeline inventory, you = Periodic Demand* Lead time. Inventory Visibility (Supply chain visibility) The ability to see what is happening with inventory upstream and downstream in a supply chain. Drop shipment a three-party system made up of, retailer (show casing products), Manufacturer (creating the goods and services to be sold), and the consumer (the person ordering). Cutting out the middle man in the process. Dumage bubble wrap, Styrofoam popcorn, small inflatable air bags, large inflatable airbags ROI a ratio of total profit/total investment
Questions & Answers | Already Graded A
(100% correct)
Cross Dock Distribution of goods from an upstream supplier to a downstream customer MRO Items that are not intended for finished goods but required for a healthy office, desks, computers, cleaning supplies and so on. Supplier Certification A list of standards that that is wanted form the buyer buying from the supplier. The official certification can be done by a supplier or by a third-party company. Bottleneck The weak point in an assembly. It is the point that is causing overall less efficiency, identifying that point will help create a better assembly system. Idle time
Questions & Answers | Already Graded A
(100% correct)
easy to avoid
- Quantity discounts, whole sale prices.
- Establishing suppliers base, building deep suppliers relations.
- Supplier Specialization: since a lot of items are bought over and over again, the purchasing department can develop a more complicated depth of understanding to the items being purchase Decentralized purchasing Unlike centralized purchasing, requests are sent to each department separately, meaning that each office can make purchases all on their own Decentralized Purchasing advantages Closer knowledge of requirements: knowing exactly what to buy and from which supplier to get the best part of the product they want.
- Closer knowledge of suppliers: since Purchasing Departments can be far away, local buyers can make better decisions on purchasing.
- Speed of purchase Tier 1 supplier (s1) are the direct suppliers of the company, providing goods and services to the company directly.
Questions & Answers | Already Graded A
(100% correct)
Tier 2 Suppliers (S2) providing goods and services to S1, S2 suppliers must be on point because if not then S1 are not on point and neither is the company. Building Deep Supplier Relationships - Case Study Toyota and Honda have this way of creating good competition between their suppliers without treating them like they have no dignity. They also, unlike GM and American auto makers, don't let suppliers fight over the cheapest deal possible and kick the others out the water. They care about quality as well as price, and time after time they have showed innovation, reliability, and customer loyalty that is not found in American automakers. The reason we see this in Japan and not the U.S is because they play the game different, they prioritize different, and the way they share information is different. It's like a really good and complicated jazz song, if everyone's on board than its perfect, but if someone messes up than we need to change that person and give someone else an opportunity until the person that messed proves worthy of coming back. That jazz song is called "Keiretsu" or the Keiretsu System. Turning supplier rivalry into opportunity, getting the most out of their suppliers' creativity as possible for the benefit of the company. Cargo Classifications Bulk, Break Bulk, Neo-Bulk Bulk cargo
Questions & Answers | Already Graded A
(100% correct)
Intermodal ยทseamless multimodal shipment. No need to unload container, repackage package. One container for entire trip. Measured in TEU (Twenty-foot equivalent unit): each 20 footer = 1TEU and each 40 footer = 2 TEU Controlled Atmosphere Container AKA REEFERS temperature controlled, record temperature throughout transport. Longer transit times possible, delay aging/repining process, reduce water loss & weight shrinkage, eliminates insects, harmful gases removed. Roads: ยท Container chassis vs one-piece trailer ยท You need to consider regulations, related infrastructure, additional costs, and crossing borders. ยท Any product can be moved and are very reliable. ยท 2nd fastest mode of transport-much cheaper than air LTLS AND LCLS will usually make many stops RAIL (so few rails in USA but it is the cheapest) (relatively low cost but not many offers)
Questions & Answers | Already Graded A
(100% correct)
ยท TOFC (trailer on a flat car-piggyback service) AND COFC (container on a flat car) ยท Double stack ยท You need to consider regulations, related infrastructure, additional costs, and crossing borders. ยท Most affordable ยท Can carry really heavy loads. ยท There is an issue with reliability and not very fast. OCEAN ยท Bulk carriers: oil, LNG (liquefied natural gas) carrier ยท Container ships: primarily carry breakbulk cargo o 4000 to 20000 TEUs (10,000 40foot containers) ยท Neo-bulk ships: used to ship cargo like lumbar, vehicles, etc. o RO/RO ship: roll on and roll off like vehicles ยท You need to consider low cost and cargo versatility (affordability and flexibility), speed, lead times, inventory requirements, logistical partners, and crossing boarders ยท Low cost and you can move anything, anywhere. But they are very slow. Air shipments ยท Major types of carriers: overnight and freight carriers ยท PROS: speed is the obvious advantage. Fastest growing transport mode and becoming more affordable ยท CONS: extremely expensive, incompatible containers - intermodal challenges
Questions & Answers | Already Graded A
(100% correct)
A platform upon which large amount of cargo can be moved by an automated forklift. Shipping Labels: A label that is often attached to inventory (typically affixed to a box) that contains information about the shipment. Standardized containers Steel boxes that can be loaded with cargo. Line flow layouts assembly line and continuous flow system Assembly Line Can be stopped at any time without compromising inventory. Continuous flow system Cannot be stopped in the middle or in-between, the cycle of the flow system must be completed every time.
Questions & Answers | Already Graded A
(100% correct)
What is the classification of packaging that fills up the empty space inside of a package? For example, this type of packaging would include the inflatable bags inside Amazon shipping boxes. dunnage According to the eNotes, a _____ is when a customer orders from an online retailer, the website sends the order to a manufacturer, and the manufacture directly sends the product to the customer: In this scenario, the online retailer never owns or even possesses the inventory drop shipment According the the eNotes, what is it called if Chipotle decides to make its own tortillas instead of buying them from a supplier? (Taking over supply chain responsibilities of upstream supply chain partners) Backward Integration A company produces 200 handbags utilizing $2000 in resources. 200 handbags/$2000 represents Productivity According to the eNotes, a(n) ___ is a specific product or service's identification code used to track inventory or catalog sales. SKU (stock keeping unit)
Questions & Answers | Already Graded A
(100% correct)
According to the eNotes, a ___ describes all items in a box, including dimensions and weight. In some cases it may even provide a location of items in a box or container. Packing List According to the eNotes, which manufacturing layout combines elements of both line flow and flexible flow layouts? Hybrid Flow Wal-mart purchases cereal from kelloggs. Kelloggs purchases raisins for their cereal from Sun Maid. Sun Maid purchases grapes from the Vineyard Corporation. According to the enotes, Sun maid is Walmarts 2nd tier supplier According to the eNotes, _____ inventory are materials that are not intended as part of the finished goods but are important to the daily operations of the company MRO According to the eNotes, a company that takes on additional supply chain responsibilities that were formerly done by outside parties is said to have.... vertically integrated
Questions & Answers | Already Graded A
(100% correct)
Inventory that is kept to account for variation and/or uncertainty in demand would be referred to as safety stock
