1201 Exam 2

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Cash Flow

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113 Terms

1

Cash Flow

the movement of money across members to finance the supply chain

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2

Distribution Channels

One or several businesses or individuals that take part in the flow of goods and services from the manufacture to the end user or consumer

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3

Distributor

intermediaries between manufactures and stores that deliver the finished products

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4

information flows

the movement of information up and down the supply chain for members to make informed decisions, minimize risk, adapt to changes, and quickly detect problems

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5

intergrity

a strong adherence to values

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6

manufacturer

the business who produces goods and wants to distribute them to its consumers

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7

product flow

the movement of raw materials and products across the supply chain

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8

Shipper

an get or business who ships products by means of transportation

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9

Suppliers

also known as vendors, are the individuals or businesses who provide goods or services to the manufacturer for their products

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10

Supply chain

consists of all the internal and external partners who participate, beginning with the raw materials or supplies and ending with the final consumer making use of the product or service

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11

Supply chain management

the planning and administration of all the activates needed to source and purchase convert, and all logistics management activities

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12

Warehouse

a place, such as a room or building, where finished products are stored until their distribution is for sale

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13

What benefits does a supply chain bring?

  Revenues go up

Cost go down A well-managed supply chain will significantly impact a business's bottom life

Improves member’s profits

Boost customer service

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14

The supply Chain Components

  1. Planning

  2. Logistics

  3. Warehouse

  4. Production

  5. Demand and Inventory

  6. Sourcing and Purchasing

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15

What are the two types of supply chains?

Efficiency and Responsiveness

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16

What is Efficiency focused on

Increasing profits

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17

What is Responsiveness focused on

quickly meeting the expectations

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18

The Fast Chain model

• Used for businesses that manufacture products that are based on trends or products with a short life cycle.

• Works best when products must change frequently and get them to customers before the end of the trend

• Must focus on constant product portfolio renewal, accurate demand forecasting, and low production costs to pass on the savings to consumers

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19

What type is The Fast Chain model

Efficiency model

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20

The continuous flow model

·        Focus on producing the same product that no little to no variations. Best when he same product can be continuously made.

·        Examples: oil, cotton, sugar, coffee

·        This model helps reduce the number of electronic transactions, share inventory levels, and engage in collaborative planning is key to anticipate any fluctuations in demand.

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21

What type is continuous flow model

Efficiency model

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The flexible model

·        Good for when unexpected demands are needed

·        There are high demand peaks and low demand bottoms

·        They must be flexible

·        They do this in four ways

¨     1. Extra capacity of critical resources, rapid response capacity, technical strengths in process and product engineering and a process flow that can be quickly arranged.

§  The Custom Configured Model

·        Provides custom configurations particularly during assembly and production.

·        A blend of the continuous flow and agile models

v Potential Disruptions for Supply Chain

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23

T/F is the flexible model is a efficiency model

False

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The Agile Model

·        This model is best for businesses that trade in specialty order

·        It’s made to be flexible to producing large amounts to very little amounts

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25

T/F the Agile Model is responsiveness

True

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The Custom Configured Model

·        Provides custom configurations particularly during assembly and production.

·        A blend of the continuous flow and agile models

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27

What type is the custom configured model?

responsiveness

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28

What is KPI

Key performance indicators in the Supply chain

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29

Examples of KPI

  • Operational efficiency gains

  • Operational speed and agility

  • Cost savings

  • Business performance gain

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30

Who said that people who don’t support the clients at the bank are more likely to get laid off?

Tommy McBride

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31

T/F, did Tommy Mcbride say this, wealth management is about RELATIONSHIPS not TRANSACTION

True

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32

What are the big 4 accounting firms according to Ryan Pratt?

  • PWC

  • Ernesto Young

  • Deloitte

  • KPMG

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33

Who said this “be flexible, achieving goals requires sacrifices, be humble, have faith, and show gratitude

Ryan Pratt

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34

Who said to Lean into your faith?

Michelle Jones

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35

Michelle Jones main points

  • Lean into your faith

  • Try everything to find what you like and do not like

  • Read everything

  • Practice working on soft skills and interviews

  • Get to know your professor

  • Look put together

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36

What big employer did Jay Voncannon works for?

KOCH

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37

Jay Voncannon ledership qualities

  • be principled

  • be a servant

  • know what you don’t know

  • be humble

  • respect others

  • challenge and always welcome challenges

  • Make effective decisions - act like a owner

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38

Jay Voncannon points

  • Be curious

  • Network (being involved)

  • Home your technical skills

  • Teach yourself

  • seek mentors

  • learn how to lead

  • take risk

  • Embrace change

  • LEAD

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39

Assembly line process

Makes a product or service at the lowest cost with the least amount of customization and variety

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40

automation

anything that helps someone do a task faster, easier, or with less effort

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41

batch process

makes a product or service at increased volumes than a job shop with less variety and customization at a Lower cost

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42

buy decision

The activity of purchasing a product or service from a supplier or the market

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43

capacity planning

the activity used to ensure that enough production capability is ready to meet customer demand

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44

centralized inventory

holding the products at a centralized distribution center

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45

decentralized inventory

the holding of products at the store level and using the distribution center to replenish what has been sold at the store

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46

decoupling demand

the ability to make a product ahead of customer demand and inventory the product unit it is needed

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47

demand planning

the activity that focuses on getting the customer to buy the service when the business would like them to

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48

DMAIC

Define, measure, analyze, improve, and control; the basis of the SIX sigma methodology

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finished goods

items that are sellable to the customer

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50

hybrid process

the combination of job shop, batch, and assembly line prices to provide low prices and high customization

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51

inspection

the detection of a defect or problem in a product or service after it has been produced

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52

inventory

the goods that a company makes and buys to be able to provide a good or service

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53

job shop process

the process that provides the highest levels of customization

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54

Lean

the identification of waste anywhere in a process and removing it

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55

make decision

the production of a good or providing of a service by a business

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56

operations management

organizing the processes that turns inputs, such as labor, raw materials, purchased goods, and capital into products or services that a business can sell

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57

outsiurcing

another name for buying

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58

prevention

the attempt to reduce the likelihood a problem occuring before a product or service is started

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59

Productivity

a ratio of how much time, energy, materials, and labor needed to produce a product or provide a service

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60

products

goods that can be physically toched and inventoried

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61

quality

the meeting or exceeding of customer expectations

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62

raw materials

the basic elements that a businees buys for their products or services

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services

something that is intangible and cannot be touched or put on a shelf

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Six sigma

a methodology designed to reduce the variation in a process so that it is consistent and does not deviate from the expected outcome

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Work-in-process (WIP)

items that a business has started to process but are not yet able to be sold

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66

ANAR

a sales qualification method that stands for authority, needs, afford, and receptive

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67

buyers

the individuals responsible for making an organizational purchase

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derived demand

the secondary demand for labor, raw materials, buildings ect. that is originated from the direct demand for goods

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direct demand

the amount of product or service consumers will want to acquire

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70

influence

having the ability to personally affect the actions, decisions, opinions, or thinking of others, as defined by the center for creative leadership

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71

lead

an unqualified contact or business who might eventually become a buyer

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72

personal sales

the assessment and presentation by a business’ sales force with the goal of completing a slae and building customer relationships

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73

prospect

an individual who agrees to consider the soluction the sales person represents

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74

prospecting

the process of locating potential buyers for a product or service

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75

qualify

to judge whether the products or services the salesperson represents would be a good fit for the lead

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76

sales funnel

the representation of the journey potential buyers will go through in their journey towards a sale

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salespeople

individuals representing a company in charge of completing a sale and supporting byers

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sale process

a consistent series of steps taken to provide value and close a sale; that is turn a prospect into a customer

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79

UDEA

a simple yet effective framework that aligns values, experience, and talent to achieve breakthrough results that stands for understanding, digging deep, evidence, and agreement

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80

unique value

the statement that defines how a company provides value un a unique or different eay that competitors do not

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81

value

the perceived usefulness, importance, or worth of an offering, through the solutions they present

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82

Value proposition

a form of communication that addresses what a compact does in terms of the buyers value by explaining and describing how business, or a person, will address their buyers goals and challenges

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83

ad

an announcement or message done in a public medium

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84

advertising campaign

a group of ads aligned to meet a goal

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85

brand

defined as any name, symbol, term, design, etc. that identifies the manufacturer of a product or service

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86

creative idea

the central theme of an advertising campaign

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87

differentiation

the selection of what benefits our target market finds valuable

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88

differentation

the selection of what benefits our target market finds valuable

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89

diversification strategy

focuses on targeting a new market with a new product

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90

homogeneous

the characteristic that individuals within a segment share such as similar preferences, demographics, or needs between them

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91

loyalty

consists of the positive feelings associated with the offer, such as happiness and an emotional connection, as well as the commitment that accompanies such feelings

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92

macroenvironment

consists of all the larger societal forces that impact the microenvironment

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93

MASDA

criteria to determine whether the identified segments have been effectively identified and are relevant to the business; it stands for measurable, accessible, substantial, differentiable, actionable

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market

consists of current and potential customers for a product or service

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95

market development strategy

guides business growth by taking what it already offers to a new target market to generate sales

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market penetration strategy

focuses on achieving growth by increasing the sales of a current products in a current market

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97

marketing

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offering that have value for customers, clients, partners, and society at large

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98

marketing environment

the forces outside marketing that have an impact on marketing ability to build and maintain profitable relationships with target customers; the marketing environment is further divided into macro and micro environments

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marketing lead generation

creating opportunities to find potential customers and capture their information so the business can follow up with them to eventually active a sale

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marketing mix

the tools available that provide a roadmap to execute our strategy and achieve the response we desire from a target amrket

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