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What is a Supply Chain?
A network of suppliers, manufacturers, and customers that work together to produce and deliver a product or service.
What are the key components of a supply chain?
Suppliers, Manufacturers, Customers.
What types of organizations have supply chains?
All organizations, including large or small, public or private, for-profit or not-for-profit.
What is the structure of a supply chain?
A flow of materials and products from suppliers to manufacturers to customers.
What are the main links in a supply chain?
Inbound transportation, manufacturers, outbound transportation, suppliers, and customers.
What is an example of a simple supply chain?
A fast-food restaurant sourcing ingredients, preparing food, and serving customers.
How does a supply chain disruption affect the process?
A shortage of key materials (e.g., cocoa beans) can halt production, causing inventory buildup and impacting all suppliers and customers.
What happens when a supply disruption occurs?
Manufacturing stops, orders get canceled, and inventory imbalances occur throughout the supply chain.
Why is supply chain management important?
It coordinates independent trading partners to maximize customer value and competitive advantage.
What are the two main goals of supply chain management?
Increase customer service while reducing inventory and operating expenses.
What is a service supply chain?
A network managing intangible products, focusing on labor and intellectual property rather than physical goods.
What is the SCOR Model in supply chain management?
A standardized framework including Plan, Source, Make, Deliver, and Return.
What does the "Plan" phase in SCOR involve?
Establishing the parameters for managing resources, marketing, distribution, and inventory policies.
What does the "Source" phase in SCOR involve?
Identifying and managing suppliers, pricing, shipping, and delivery processes.
What does the "Make" phase in SCOR involve?
Manufacturing operations, quality control, and scheduling for product completion.
What does the "Deliver" phase in SCOR involve?
Logistics management, order fulfillment, transportation, and customer deliveries.
What does the "Return" phase in SCOR involve?
Handling defective or excess products through reverse logistics.
What is the difference between Logistics and Supply Chain Management?
Logistics focuses on moving goods efficiently, while SCM includes broader coordination of suppliers, manufacturers, and customers.
What are the two basic supply chain models?
Efficient Model (cost reduction focus) and Responsive Model (speed and flexibility focus).
What is the Push Business Model?
A "Make-to-Stock" approach where products are manufactured based on forecasts before customer orders.
What is the Pull Business Model?
A "Make-to-Order" approach where products are manufactured in response to actual customer demand.
What are contemporary trends affecting supply chains?
Reshoring, near-shoring, supply chain diversification, and technology adoption.
What is Supply Chain Visibility?
The ability to track products in real time using data, technology, and analytics.
What is a Circular Supply Chain?
A system designed to reduce waste and extend resource life through recycling, refurbishing, and reuse.
What is Supply Chain as a Service (SCaaS)?
Outsourcing supply chain operations to third parties to improve efficiency and scalability.
