SCM 300 Module 1 Definitions
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Questions and Answers
- 1.
Efficient integration of suppliers, transporters, manufacturers, warehouses, retailers and all other parties associated with delivery of the final product.
Explanation
The correct answer is Supply Chain Management. Supply chain management refers to the efficient integration of suppliers, transporters, manufacturers, warehouses, retailers, and all other parties involved in the delivery of the final product. It involves coordinating and managing the flow of goods, information, and finances to ensure that products are delivered to customers in a timely and cost-effective manner. This includes activities such as procurement, production planning, inventory management, logistics, and customer service. By effectively managing the supply chain, businesses can improve efficiency, reduce costs, and enhance customer satisfaction.Rate this question:
- 2.
Design, Operation, and Improvement of PRODUCTION SYSTEMS that Efficiently transform INPUTS into Finished Goods and Services, Maximizing Productivity.
Explanation
The term "operations" refers to the design, operation, and improvement of production systems that efficiently transform inputs into finished goods and services, maximizing productivity. This includes activities such as planning, organizing, and controlling the processes involved in producing goods or delivering services. The capitalization of "Operations" in the answer suggests that it is a specific field or department within an organization that focuses on these activities.Rate this question:
- 3.
What are these duties examples of: Process management, Plant management Capacity planning - resources, speed Scheduling jobs/people Waiting Line Management Process Improvement Management
- A.
Logistics
- B.
Operations
- C.
Procurement
- D.
None of the above
Correct Answer
B. OperationsExplanation
The given duties examples of process management, plant management, capacity planning, scheduling jobs/people, waiting line management, and process improvement management are all related to the operations function within a business. Operations management involves overseeing the production and delivery of goods and services, ensuring efficiency and effectiveness in processes, managing resources and capacity, and continuously improving operations. Therefore, the correct answer is Operations.Rate this question:
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- 4.
What are these duties examples of: Distribution/Warehousing, Infrastructure Mgmt. Packaging, containerization, transportation, documentation Third party management and communication
- A.
Purchasing
- B.
Procurement
- C.
Logistics
- D.
Operations
Correct Answer
C. LogisticsExplanation
The given duties examples of distribution/warehousing, infrastructure management, packaging, containerization, transportation, documentation, third party management, and communication are all related to the process of logistics. Logistics involves the planning, implementation, and control of the movement and storage of goods and resources from the point of origin to the point of consumption. Therefore, the correct answer for this question is logistics.Rate this question:
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- 5.
What are these duties examples of: Supplier Selection Purchasing negotiations Supplier relationship management Materials/Inventory management
- A.
Logistics
- B.
Operations
- C.
Marketing
- D.
Procurement
Correct Answer
D. ProcurementExplanation
These duties examples are all related to the procurement function. Supplier selection, purchasing negotiations, supplier relationship management, and materials/inventory management are all tasks that fall under the umbrella of procurement. Procurement involves the process of sourcing, purchasing, and managing goods and services for an organization. It is responsible for ensuring that the organization obtains the right products at the right time and at the right price from the right suppliers.Rate this question:
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- 6.
The process of obtaining services, supplies, and equipment in conformance with corporate regulations.
Correct Answer
Procurement
procurementExplanation
Procurement refers to the process of acquiring services, supplies, and equipment while adhering to corporate regulations. This involves sourcing, negotiating contracts, and managing relationships with suppliers to ensure that the organization's needs are met efficiently and cost-effectively. By following established procedures and guidelines, procurement ensures that the company obtains the necessary resources in a compliant and controlled manner, ultimately supporting the smooth operation of the business.Rate this question:
- 7.
Is the COORDINATED Planning and Execution of the following: - Product Distribution throughout the Supply Chain - Who gets what? - Preparation of Packaged Product- Movement Itinerary (Transport)- Storage Itinerary (Warehousing)
Correct Answer
Logistics
logisticsExplanation
The COORDINATED planning and execution of product distribution throughout the supply chain, preparation of packaged product, movement itinerary (transport), and storage itinerary (warehousing) is known as logistics. Logistics involves managing the flow of goods, information, and resources from the point of origin to the point of consumption. It includes activities such as transportation, warehousing, inventory management, and order fulfillment.Rate this question:
- 8.
What are the four Competitive Priorities?
- 9.
When an intermediate and end customer return products, obtain warranty repairs, or throw away or recycle them is an example of:
Correct Answer
Reverse Logistics
Reverse LogisticsExplanation
The given answer is "Reverse Logistics" because it refers to the process of managing the flow of products from the end customer back to the manufacturer or retailer. This includes activities such as product returns, warranty repairs, and product disposal or recycling. By mentioning "Reverse Logistics" twice, it emphasizes the concept being discussed in the question.Rate this question:
- 10.
A firm whose business boundaries include one-time suppliers and/or customers.
Correct Answer
Vertically Integrated firm
vertically integrated firmExplanation
A vertically integrated firm is a company that controls multiple stages of the production and distribution process within its industry. This means that the firm not only produces goods or services but also owns and operates the suppliers and customers involved in the supply chain. By integrating these different stages, the firm can have more control over its operations, reduce costs, and improve efficiency. Therefore, a firm whose business boundaries include one-time suppliers and/or customers can be classified as a vertically integrated firm.Rate this question:
- 11.
Lean Production is also commonly known as the Toyota Production System
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
Lean Production is indeed commonly known as the Toyota Production System. This system was developed by Toyota in the 1940s and 1950s and has since been widely adopted by many other companies around the world. It focuses on eliminating waste, improving efficiency, and continuously improving processes. Lean Production aims to create value for customers by producing high-quality products with minimal waste and cost. The principles and techniques of Lean Production have had a significant impact on the manufacturing industry and have been recognized as a key driver of operational excellence.Rate this question:
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- 12.
Encouraging or helping the firm's suppliers to perform in some desired fashion
Correct Answer
supplier management
Supplier ManagementExplanation
Supplier management refers to the process of encouraging or helping the firm's suppliers to perform in a desired fashion. This involves actively managing the relationships with suppliers, setting expectations, and providing support to ensure that they meet the firm's requirements. By effectively managing suppliers, the firm can improve the quality of goods or services received, reduce costs, and enhance overall performance. Supplier management is crucial for maintaining a strong and reliable supply chain, which is essential for the success of any business.Rate this question:
- 13.
Determining the current capabilities of suppliers
Correct Answer
Supplier Evaluation
supplier evaluationExplanation
The given answer is "Supplier Evaluation" or "supplier evaluation". This refers to the process of assessing and analyzing the performance and capabilities of suppliers. It involves evaluating various factors such as quality, reliability, cost-effectiveness, delivery time, and customer service. By conducting supplier evaluations, companies can determine the current capabilities of their suppliers and make informed decisions about their suitability for ongoing or future business partnerships. This helps in ensuring that the company is working with reliable and efficient suppliers, which ultimately contributes to the overall success of the supply chain and business operations.Rate this question:
- 14.
This allows buyers to assume the supplier will meet certain product quality and service requirements covered by the certification, thus reducing duplicate testing and inspections and the need for extensive supplier evaluations
Correct Answer
supplier certification
Supplier CertificationExplanation
Supplier certification allows buyers to assume that the supplier will meet certain product quality and service requirements covered by the certification. This reduces the need for duplicate testing and inspections, as well as extensive supplier evaluations. By having a certified supplier, buyers can have confidence in the supplier's ability to consistently deliver high-quality products and services, saving time and resources in the procurement process.Rate this question:
- 15.
Software application for managing their inventory
Correct Answer
Material Requirements Planning (MRP)
material requirements planningExplanation
The correct answer is Material Requirements Planning (MRP). MRP is a software application used by businesses to manage their inventory. It helps in determining the quantity and timing of materials needed for production, ensuring that the right amount of materials are available at the right time to meet customer demand. MRP takes into account factors such as lead times, production schedules, and inventory levels to optimize the procurement and production process. By using MRP, businesses can minimize inventory costs, reduce stockouts, and improve overall efficiency in their supply chain.Rate this question:
- 16.
Strategies and systems, with the objective of matching demand to available capacity, either by improving production scheduling, curtailing demand, using a back-order system, or increasing capacity.
Correct Answer
demand management
Demand ManagementExplanation
Demand management refers to the strategies and systems used to match the demand for a product or service with the available capacity. This can be achieved through various methods such as improving production scheduling, curtailing demand, using a back-order system, or increasing capacity. The objective is to ensure that the demand and supply are balanced, optimizing resources and meeting customer needs efficiently.Rate this question:
- 17.
This occurs when the participants realize that supply chain management must become part of the firms' strategic planning processes, where objectives and policies are jointly determined based on the end-customers' needs and what the supply chain as a whole can do well.
Correct Answer
Supply Chain Integration
supply chain integrationExplanation
The correct answer is supply chain integration. This refers to the process of aligning and coordinating the different activities and functions within a supply chain to work together seamlessly. It involves integrating suppliers, manufacturers, distributors, and retailers to achieve common goals and meet customer demands effectively. By integrating the supply chain, firms can better understand and respond to customer needs, improve efficiency, reduce costs, and enhance overall performance.Rate this question:
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Current Version
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Mar 19, 2023Quiz Edited by
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Feb 18, 2010Quiz Created by
Mastone
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