Which aspects of supply chain management are especially important for small businesses? A top management strategic responsibility with respect to supply chains is
network configuration
.
Which of the following is least likely to be a key consideration when a company chooses a supplier multiple choice?
value analysis
is the correct answer.
Which of these aspects of supply chain management are especially concerning to small business?
Three aspects of supply chain management that are often of concern to small businesses are: (1)
inventory management
; (2) reducing risks; and (3) international trade. Traffic management refers to truck movement within our parking areas.
Which of the following is the goal of supply chain management?
The primary purpose of the supply chain is to
fulfill demand, drive customer value, improve responsiveness, facilitate financial success and build a good network
. Most primary goals of efficient supply chain management should be – faster delivery, Higher efficiency, and an accelerated cash flow.
Which of the following is not a key aspect of supply chain management?
Answer:
Customer power
is not a key attribute of supply chain management. Explanation: Supply chain management includes all methods to change raw materials to final products, it is the management of the flow of services and goods.
What are the five basic components of supply chain management?
The Top-level of this model has five different processes which are also known as components of Supply Chain Management –
Plan, Source, Make, Deliver and Return
.
What are the main factors contributing to supply chain success?
According to most experts, there are three main success factors in effective and agile supply chains:
your supplier relationships, your people, and the effective use of the supporting technology
.
Which of the following inventory costs is typically the largest?
- Capital costs. It is the largest component among the carrying inventory costs. …
- Storage space costs. …
- Inventory services costs. …
- Inventory risk costs. …
- A first approach to the carrying costs: quick estimates and formula.
Which of the following is a principle required for ethical behavior in purchasing quizlet?
Which of the following is a principle required for ethical behavior in purchasing? In supply chain organizations, functions must operate independently of each other.
Functions should be integrated
. In purchasing, one’s only ethical obligation is to one’s suppliers.
What does it mean when a buyer certifies a supplier quizlet?
What does it mean when a buyer certifies a supplier? The
buyer has certified the supplier has met or exceeded its requirements and can forgo inspecting their incoming goods.
What are the three basic objectives of supply chain?
The Importance of Supply Chain Management
These strategic goals include
ensuring efficiency, improving quality, and optimizing transportation
. These goals will help you reduce costs, increase efficiency and profits, and can even help you gain a competitive advantage within your industry.
What is the main aim of SCM?
Supply chain management is
the management of the flow of goods and services and includes all processes that transform raw materials into final products
. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace.
What are the four 4 stages of supply chains?
There are four customary stages in a product’s life cycle:
the introductory phase, the growth phase, the maturity phase and the decline phase
. Each phase is markedly different and often requires different value chains. Supply managers need to craft supply strategies that reflect the unique needs of each phase.
What are the benefits of supply chain?
- Better collaboration. …
- Improved quality control. …
- Higher efficiency rate. …
- Keeping up with demand. …
- Shipping optimization. …
- Reduced overhead costs. …
- Improved risk mitigation. …
- Improved cash flow.
What are the processes of supply chain management?
- Customer Relationship Management. …
- Supplier Relationship Management. …
- Customer Service Management. …
- <Demand Management. …
- The Order Fulfilment. …
- Manufacturing Flow Management. …
- Product Development and Commercialisation. …
- Returns Management.
What are the major decision areas in supply chain management?
There are four major decision areas in supply chain management: 1) location, 2) production, 3) inventory, and 4) transportation (distribution), and there are both strategic and operational elements in each of these decision areas.
