Supply Chain Management Flashcards

Identification

• Supply Chain Design: Reflects the structure of the supply chain over the next several years.
• Demand Forecast: Supply Chain Planning starts with a demand forecast for the coming year.
• Supply Chain Operations: Focuses on individual customer orders during this phase.
• Internal Supply Chain: The part of the supply chain that happens inside the company itself.
• Turf War: Happens when departments only care about their own goals and not working as a team.
• Process Map: A map that helps everyone understand the steps of the whole process of the supply chain.
• External Supply Chain: Involves other companies like suppliers of raw materials or customers who buy the products.
• Push Process: A type of supply chain process view where the company produces or prepares the products before the customers order them.
• Pull Process: A type of supply chain process view where the company only produces a product after the customer orders it.
• Supply Chain Management: Involves proactively managing the two-way movement and coordination of goods, services, information, and funds from raw materials through the end user.

True or False

• True: The advantage of a single sourcing strategy is improved communication from the close buyer-seller relationship.
• False: One of the advantages of a single sourcing strategy in the buyer's perspective is NOT quality considerations.
• True: Pull Process is the type of supply chain process view where the company only produces after a customer orders a product.
• False: In a push process, the company DOES NOT wait for the demand first before making the product.
• True: The Purchasing Department is the one who orders the materials needed for the product.
• True: In the supply chain, product development is assigned to plan and design the product.
• True: The Sales Department is assigned to receive the customer's order.
• False: In the planning phase, companies do not define a set of operating policies that govern long-term operations.
• False: The Production plan DOES NOT serve as a broad blueprint for operations and establishes the parameters within which short-term production and distribution decisions are made.
• False: Production plan DOES NOT allow the supply chain to alter capacity allocations and change supply contracts.

Multiple Choice

• Pull Process (ans): The type of supply chain process view where the company only produces after a customer orders a product.
• Purchasing Department (ans): The department in the supply chain who orders the materials needed for the product.
• Product Development (ans): Included in the supply chain that is assigned to plan and design the product.
• Aggregate Planning (ans): Serves as a broad blueprint for operations and establishes the parameters within which short-term production and distribution decisions are made.
• Multi-Sourcing Strategy (ans): The sourcing strategy characterized by engaging with several different suppliers for the same type of goods or services.
• Single Sourcing Strategy (ans): A company that aims to develop strong partnerships and mutual benefits with a limited number of suppliers is likely employing this strategy.
• Network Sourcing Strategy (ans): The concept of leveraging a web of interconnected suppliers, often sharing information and resources, best describes.
• Reduced risk of supply disruption (ans): One of the potential advantages of a multi-sourcing strategy.
• Inventory Management (ans): NOT a sourcing strategy.
• Supply Chain Orientation (ans): A company with this is one that recognizes the strategic value of managing operational activities and flows across a supply chain.