A firm requires a high level of ______ to manage its supply chain functionality.

Q: What are the requirements for an effective supply chain?

Lets consider some of the foundational elements of supply chain management that are required to: Maximize sales revenue. Reduce lead times. Maximize stock availability..

While yesterday’s supply chains were focused on the availability, movement and cost of physical assets, today’s supply chains are about the management of data, services and products bundled into solutions. Modern supply chain management systems are about much more than just where and when. Supply chain management affects product and service quality, delivery, costs, customer experience and ultimately, profitability.

Inhaltsverzeichnis Show

What are the requirements for an effective supply chain?
What are the 4 components of supply chain management?
What are the 4 supply chain functions?
What are the top 3 elements of supply chain?

As recently as 2017, a typical supply chain accessed 50 times more data than just five years earlier. However, less than a quarter of this data is being analyzed. That means the value of critical, time-sensitive data — such as information about weather, sudden labor shortages, political unrest and microbursts in demand — can be lost.

Modern supply chains take advantage of massive amounts of data generated by the chain process and are curated by analytical experts and data scientists. Future supply chain leaders and the Enterprise Resource Planning (ERP) systems they manage will likely focus on optimizing the usefulness of this data — analyzing it in real time with minimal latency.

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Question	Answer
What is the primary reason that time to market has decreased over the past two decades...	Information Technology
A Supply Chain is best described by which of the following...	A group of collaborative companies
Which of the following best describes an integrative supply chain process...	The fusion of critical components of a supply chain
The concept of postponement...	seeks to reduce the risk of anticipation
Collaboration is the act of...	Integrating a supply chain
An integrated service supplier (ISP) seeks to...	Provide critical operational functionality in a supply chain
The lowest total process cost is...	May be the lowest cost for each involved function
The anticipatory business model is best described by which statement...	Driven by forecast
Geographic postponement is characterized by...	Timely delivery
Cash-to-cash conversion...	Is typically related to inventory turn
What is dwell time...	The ratio of asset idle time to total time required to complete a mission
The internet has increased business-to-business connectivity (t/f)	False
Perfect orders are limited to firms committed to integrated supply chain management (t/f)	False
Supply Chain Management promotes a network of highly efficient independent businesses (t/f)	True
There are eight critical supply chain processes (t/f)	True (be able to name them)
Collaboration is a fundamental part of SCM (t/f)	True
A third party service supplier is also a public warehouse (t/f)	False
Process specialization involves the same concepts as vertical integration (t/f)	False
The principle of postponement is new to the discipline of logistics (t/f)	False
Form and time postponement are fundamentally the same concept (t/f)	False
Geographic postponement is directly linked to dependable delivery (t/f)	True
Cash-to-cash conversion is an efficiency measurement (t/f)	False
Free cash spin is an important operational measure (t/f)	False
Increased operational responsiveness is directly related to information technology (t/f)	True
Enterprise extension is a diversification strategy (t/f)	False
Vertical integration and supply chain extension are essentially the same concepts (t/f)	False
A unique feature of integrates logistics is...	Complexity and scope of operations
Basic logistics service is a concept that...	Describes the level of service provided all established customers
A logistics performance cycle is...	The basic unit of supply chain design and operational control
The term "mother facility" is often used to describe...	An inventory replenishment source for smaller facilities
A flow through facility is...	Is also often called a cross-dock facility
The "pareto principle" is...	Used in logistics to develop fine line inventory classification
Service reliability is best described as...	The quality dimension of logistics performance
The primary reason that total logistics cost has reduced as a percentage of GDP is...	Inventory has decreaded as a percent of total cost
The work of logistics involves...	Transportation, inventory, order processing, warehousing, and facility network design
The logistics performance cycle...	Is the basic unit of supply chain design and control
Logistics cost has declined as a percent of GDP over the past 25 years (t/f)	True
Service reliability involves logistical quality (t/f)	True
Total cost was not typically the way managers viewed logistics prior to the 1960's (t/f)	True
The logistics value proposition is based solely on cost minimization (t/f)	False
The work of logistics is all about transportation planning and execution (t/f)	False
Logistical system design is driven by careful integration of all operational components to minimize total cost (t/f)	False
Transportation cost drives a firms focus on speed and consistency (t/f)	False
Facility network design is the function of total cost minimization (t/f)	False
Procurement and manufacturing are an integral part of integrated logistics (t/f)	False
Echeloned distribution structure facilitates direct delivery (t/f)	False
Logistics cost is greater than healthcare cost in the US (t/f)	False
Efficiency as contrasted to effectiveness is the primary goal of logistics (t/f)	False
Performance cycle uncertainty is a key concern in logistical operations (t/f)	True
The goal of cycle synchronization is achievement of planned time performance (t/f)	True
Performance cycle variance is a prime determinate of safety stock (t/f)	True
In providing service outputs to consumers, a disadvantage of Internet retailers compared to store-based retailers arises in...	Waiting time
In general, offering consumers higher levels of service output in terms of greater spatial convenience or product variety...	results in higher logistics and distribution cost
The most exacting measure of logistics performance regarding availability is...	Orders shipped complete
Which of the following is not one of the "service outputs" of a supply chain...	Price
Numerous studies have been performed concerning retail stockouts. While results vary, generally the studies find that stockouts...	Average about 8%
With respect to operational performance, most logistics managers would prefer which of the following...	A consistent 3 day performance cycle
Jones Company promised a customer that the customer would receive at least 98% of all items ordered. In fact, the customer received 95% of the items. This is an example of which "gap" in the customer satisfaction model...	Communication gap
The difference between a "customer success" focus and a "customer satisfaction" focus is that...	Customer satisfaction deals with expectations, customer success deals with requirements
Providing perfect orders to customer would be a key aspect of which customer accommodation focus...	Customer service
Jones Company makes every effort to consistently meet the expectations of all of its customers. It is clear that Jones company is focused on...	Customer satisfaction
Which customer accommodation approach requires a comprehensive supply chain perspective on the part of logistics executives...	Customer success
Providing value-added services is a critical aspect of...	Customer success
From a strategic perspective, companies should strive to...	Realize different customer accommodation approaches may be appropriate for different customers
Alpha Company has a performance standard of 97% fill rate. Last month it achieved a 94% fill rate. This is an example of...	Performance gap
On-time delivery is an aspect of a company's performance in...	Operational performance
Since walmart and target are both mass merchandisers it is likely that they both have the same logistical service requirements from suppliers (t/f)	False
Providing greater spatial convenience to customers typically requires greater logistics expense (t/f)	True
Companies should strive to offer the same fill rate performance on all items they stock (t/f)	False
Good logistics practice involves developing operations in which malfunctions never occur (t/f)	False
A company has identified that there are 5 critical components of a "perfect order". It establishes a 97% standard on each of these components. Assuming it achieves this standard, it can expect that its overall perfect order performance is 97% (t/f)	False
Achieving customer satisfaction with logistical performance does not mean that customers will be loyal (t/f)	True
Customers may be dissatisfied with a company even if that company consistently provides perfect order performance (t/f)	True
A customer success program in a company should focus on every customer the company serves (t/f)	False
In developing strategy for customer accommodation, low-profitability customers should never be candidates for a customer success relationship (t/f)	False
A firm which provides logistics service that is superior to its competitors can be sure that customers are satisfied (t/f)	False
A company has decided that it no longer needs to extensively count and inspect the products it receives from a particular supplier. This suggests that the company has begun...	Supplier operational integration
Generally speaking, procurement can have a greater impact on the net income of a company than most other departments. This is due to the fact that...	Purchased materials and supplies frequently represent the largest costs in a company
Which of the following reflects does not reflect a strategic focus on procurement...	Focus on purchase price
Supply base reduction (volume consolidation)...	Has potential benefits for suppliers as well as for buyers
In procurement, Total Cost of Ownership includes all of the following except...	(ALL) Field failures of purchased items, consideration of the impact of supplier quantity discounts, and cost of order placement
Early Supplier Involvement (ESI) is an important part of the "Volume Consolidation" stage of procurement strategy evolution (t/f)	False
Good purchasing strategy is based on standardized set of procedures for dealing with every supplier in a firm's supply base (t/f)	False
The most important objective in procurement strategy is to insure that the lowest purchase price is obtained from suppliers (t/f)	False
It is very possible that the supplier which offers the lowest purchase price does not have the lowest total cost of ownership for the buying firm (t/f)	True
In the promotional material for the GG2330 portable bar code scanner, the Yanda Comp states that the mean time between failures for the scanner is 400 operating hours. Which of the following dimensions of quality does this indicate...	Reliability
John Jones has a VCR which a friend described as being of poor quality since it doesn't have a remote control. The friend is focusing on what aspect of quality...	Features
John Jones told his friend that his VCR is over 20 years old while most VCRs only last about 10 years. He is focusing on which aspect of quality...	Durability
Which of the following manufacturing approaches would describe most consumer products, such as food, razor blades, over the counter drug, etc...	MTS (Make to stock)
Which of the following approaches would typically have the longest customer experienced lead time...	MTO vs. PTO vs. MTS vs. ATO *MTO*
Which of the following process structures can produce highest volume...	Continuous flow
Which manufacturing process can produce many different product varieties but has a long customer experienced lead time...	Batch operation
In this manufacturing approach, typically many different end items are made by combining standard components in inventory into many different products...	ATO (Assemble to order)
In MTS (make to stock), customer orders are satisfied from...	Finished goods inventory
Which of the following statements would be true regarding the customer experienced lead time in a make to order company...	It would be longer than assemble to order company
A job shop manufacturing process allows products to be customized for specific customers (t/f)	True
The customer accommodation cycle for make to plan items is typically longer than the cycle for assemble to order items (t/f)	False
Make to order strategies typically have lower inventory and warehousing cost than make to plan strategies (t/f)	True
A six-sigma quality program suggests that the acceptable level of defects or failures is one-half that of a traditional three sigma approach (t/f)	False
Performance based logistics has been found to both improve quality as well as reduce the cost for the buying organization (t/f)	True

What are the requirements for an effective supply chain?

Let's consider some of the foundational elements of supply chain management that are required to: Maximize sales revenue. Reduce lead times. Maximize stock availability..

1 - Effective Demand Forecasting. ... .

2 - Effective Inventory Planning. ... .

3 - Effective Production Scheduling. ... .

4 - Effective Supplier Management..

What are the 4 components of supply chain management?

What are the components of your supply chain you should be focusing on right now?.

INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage. ... .

OPERATIONS. ... .

PURCHASING. ... .

DISTRIBUTION..

What are the 4 supply chain functions?

Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.

What are the top 3 elements of supply chain?

Generally the key aspects of Supply Chain management are Purchasing (sourcing), Planning (scheduling) and Logistics (delivery). Sometimes logistics is separate, and procurement may be included with Purchasing, depending upon how location specific the procurement activities are.

A firm requires a high level of ______ to manage its supply chain functionality.

What are the requirements for an effective supply chain?

What are the 4 components of supply chain management?

What are the 4 supply chain functions?

What are the top 3 elements of supply chain?

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