Prelim Casc-211
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22 Terms
Q: What was the typical order-to-delivery time in the 1990s?
A: About 15–30 days, sometimes longer.
Q: How were orders commonly created and transferred in the 1990s?
A: Telephone, fax, electronic data interchange (EDI), and public mail.
Q: What caused major changes in supply chain operations during the 1990s?
A: Computerization, the Internet, and inexpensive information transmission.
Q: What four characteristics became the norm for business information?
A: Speed, accessibility, accuracy, and relevancy.
Q: Why did the Internet become important to business?
A: It became a common and economical way to conduct business-to-business (B2B) transactions.
Q: What emerged because of improved information technology and connectivity?
A: A global economy.
Q: What is supply chain management?
A: Firms collaborating to leverage strategic positioning and improve efficiency.
Q: What is a supply chain strategy?
A: A channel arrangement based on acknowledged dependency and collaboration.
Q: What do supply chain operations span?
A: Functional areas within firms and across trading partners and customers.
Q: What is logistics?
A: The work required to move and position inventory throughout the supply chain.
Q: What is the relationship between logistics and supply chain management?
A: Logistics is a subset of the broader supply chain framework.
Q: How does logistics create value?
A: Through the timing and positioning of inventory.
Q: What does integrated logistics do?
A: It links and synchronizes the overall supply chain as a continuous process.
Q: What is the context of an integrated supply chain?
A: Multifirm collaboration within key resource flows and constraints.
Q: What must an enterprise align with to gain competitive advantage?
A: Customers, distributors, and suppliers.
Q: From where to where are business operations integrated?
A: From initial material purchase to delivery of products to customers.
Q: What are the five critical flows in a supply chain?
A:
Information
Product
Service
Financial
Knowledge
Memory: I-P-S-F-K
Q: What is the primary conduit of product and service flow?
A: Logistics.