2. EVA - Economic Value Analysis 4. . With perfect information at all levels of the supply chain, there will not be a bullwhip effect. 5580 Test 2. 2. the supply chain financial impact a major financial objective for any organization is to produce a satisfactory return for stockholders. 9. superstarh6. Here's a list of the things that . It means resorting to more than the conventional metrics of capital, cost, and service. supply chain (SC): A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, through to its eventual delivery to the end user. Global Supply Chain Procurement &.
A) The supply chain extends from the ultimate customer back to Mother Earth B) The chain is viewed as a whole, a single entity rather than fragmented groups C) Money enters the supply chain only when the ultimate customer buys a product or service D) Supply chains are relatively easy to describe and visualize E) The term supply chain is a more . The supply chain segment involved with . is a military term, as it was developed originally to supply the battlefield. Promise time, lead time, cycle time, transit time, delivery time, unloading time, processing time, queue time, quality assurance time, processing time, turnaround time, receiving time, On-Time-In-Full (OTIF) Somewhat of a combination of Perfect Order and On-Time, the OTIF metric measures the incidence of the customer getting what they want, when they want it. As suppliers feel pressure, look out for quality degradation and late deliveries. The basic purpose of supply chain management is to: a. create an exclusive set of suppliers who will not supply your competitors b. link your customers together so the flow of materials remains under control c. synchronize the operations of all suppliers with those of purchasing, production, distribution and customers Supply chain performance measures can broadly be classified into two categories Qualitative measures For example, customer satisfaction and product quality. lhvhx9. Capacity-constrained resource Minimizing finished goods holding costs Customer wait time reduction Work-in-process inventory When sources have been selected and vetted, companies must negotiate contracts and schedule deliveries.
. Logistics, in its simplest form. The Five Forces. Innovation in products B. 62 of 126 Reducing need to release and rehire workers Leadership and top management commitment Impact, intimacy, vision leveling demand fluctuations with incentives for consumers. 5. Recover. A performance measure, or a set of performance measures, is used to determine the efficiency and/or effectiveness of an existing system, or to compare competing alternative systems. B. One of the biggest questions procurement teams need to ask is whether the organization plans to manufacture goods themselves or they will buy ready-made goods. Buying inexpensive fuel Logistics Management analytics can help Evaluate equipment alternatives Life Cycle ownership costs End-of-Life Phase Previous page. A scorecard providing metrics related to the five SCOR supply chain strategies: reliability, responsiveness, Agility, cost and assets Benchmarking Comparing an organization's performance, products, practices, and/or services with those of other organizations that operate in the same or comparable industry Chapter 7 business logistics52 terms Question 4 of 10 There is a definitive and prescriptive set of supply chain measures that result in one best way to measure supply chain performance. selecting the final solution assigning task responsibilities defining the problem data gathering: Network Design -- Quantitative A Network design decisions for most supply chains center on the simple (profit or revenue or cost) equation. The CMTC Manufacturing blog recommends the following five critical areas that require management attention to achieve an optimized high performing supply chain: 1. Measuring Supply Chain Performance: Key Performance Indicators Quiz; Go to Supply Chain Strategy & Design Ch 12. Element One: Integration. Multi-echelon inventory reduction techniques. Resource Based View (RBV) & Relational View (RV) Approach. In this combined approach, the approach aims to "push" customers to choose particular options and once options are chosen, the customer's order "pulls" demand through the company's supply chain. Before any part or raw material is used in a manufacturer of a finished good . Keeping trucks busy 3. 47 terms. Innovation in processes C. Selection of suppliers who help pursue the triple bottom line D. All of the above Reset Selection Question 16 of 25 2.0 Points To reduce supply chain risk, a company should A. It is established that there exists a correlation between social sustainability and supply chain performance (Lindgreen, Swaen, Maon, Andersen, & Skjoett-Larsen, 2009 Laurin and Fantazy (2017 . Respond. Creating capabilities in all three A's involves proper training and the right performance measurement system, business process design, product design, and incentive schemes and contracts with supply chain partners. Food production, processing, and availability also can affect community-level measures, such as economic growth and social infrastructure. This preview shows page 21 - 24 out of 24 pages. However, they don't tend to let customers choose just any option. A performance measure, or a set of performance measures, is used to determine the efficiency and/or effectiveness of an existing system, or to compare competing alternative systems. We present a survey of emerging research on the impact of e-business on supply chain management including descriptive . T-tests in addition to chi-square assessments were used to measure the relationship differences of two countries with their partner firms.The study concluded that the . For businesses that carry non-perishable goods it's tempting to order and carry surplus stock to help meet market demand and hit order fulfillment targets. Give incentives to the supply chain organization for working in ways which would deliver the biggest value for your company, and at the same time, secure against the biggest risks. Companies can outsource their supply chain to facilitate efficient service and business growth. These are the five key metrics you should track to optimize your supply chain operation: Perfect Order Index. Balanced Scorecard 2. Lecture 9 + 10. 3. COST. Finances flow - includes payment schedules, credit terms, consignment, and also . So start by analyzing the effectiveness of your communication with your suppliers. D. Supply chains for high fashion women's shoes have nothing in common with that for bananas. False Companies typically like to design scorecards that fit their business and industry. Fakes are also a big problem when supplies are scarce, Sheffi said, as companies look for alternative suppliers. SCOR Model 3. False. It alerts supply chain leaders to take action and avoid customer dissatisfaction. hannah_bennett9. Give incentives to the supply chain organization for working in ways which would deliver the biggest value for your company, and at the same time, secure against the biggest risks. answer choices. Supply chains are only used products for perishable. An information management system is one of the few elements of supply chain that can offer both improved performance and lower cost. Fill Rate. The CMTC Manufacturing blog recommends the following five critical areas that require management attention to achieve an optimized high performing supply chain: 1. It means resorting to more than the conventional metrics of capital, cost, and service. 30 seconds. Change can be . . Absolutely time is a critical component of measuring supply chain performance. Supply Chain Performance Measures. New Technology Changes How Work is Done 47 Chapter 5. A pattern of sales growth and decline over the period in which a product . Know where you stand. Which of the following supply chain performance metrics measures the average percentage of orders among supply chain members that arrive on time, complete, and damage-free? Question 5 of 10 Environmental and social impacts are considered outside of supply chain management. The perfect order index measures the error-free rate of the entire supply chain process. It is important that these materials are procured and delivered on time so that production can begin. 1. In addition to the general rationale for . SURVEY. Accounting Final. Management of the entire supply chain is an arduous task; however, it can be partitioned into five major parts which we are going to examine below.. 9. All these functions together form the supply chain. Procurement is the acquisition of goods and services at the best possible price, in the right quantity and at the right time. All these are now done in a coordinated manner to improve efficiency, reduce costs and improve customer experience. The purpose of the study is to reach at a true understanding of the elements of supply chain management' effect in companies . There are three main categories of supply chain performance metrics; time, cost and quality . In her presentation, Jessop alluded to six levers supply chain managers can pull to improve these. Other things to know include each plant's operational status and inventory level. and measures his goal, all the while striving to create company-wide alignment. 5. The Balanced Scorecard framework consists of four perspectives: financial perspective, human resources perspective, inventory perspective, and the logistics perspective. There is a close connection between the design and management of supply chain flows (product, records, and cash) and the fulfillment of a supply chain. Operations and Supply Chain Management Multiple Choice Questions, EOQ, Inventory Management, Supply Chain Management, Product Process Matrix, MPS, MRP, Production Planning & Control, Product Process Matrix, MCQ on OSCM, Multiple Choice Questions on . Managing logistics and supply chain costs is particularly important for companies engaged in international trade. Affected individuals fall into three groups: (1) people involved directly in agricultural food production (e.g., farmers); (2) people involved in the rest of the food system (e.g., processing, manufacturing, food service, and retailing); and (3) consumers. The Supply chain KPIs specifically refer to the top few metrics that have a significant bearing on the overall health of the supply chain. Detect. Cash-to-Cash Time. . Supply Chain KPIs (Key performance indicators) are the metrics and measures that help supply chain professionals monitor the efficacy and efficiency of various supply chain processes. Inventory Turnover. 3.1 Financial Measures of Performance 3.2 Drivers of Supply Chain Performance 3.3 Framework for Structuring Drivers 3.4 Facilities 3.5 Inventory 3.6 Transportation 3.7 Information 3.8 Sourcing . Best Practices For Managing Quality In The Supply Chain 1. Warehousing Public & Contract Warehousing Value Added Services Cross Docking Transloading Technology Transportation Drayage Inbound Planning Packaging Pick & Pack Rework Packaging Kitting b. The 5 Biggest Supply Chain Challenges Supply chain managers have seen increasing challenges to create, and keep, efficient and effective supply chain methods. In this paper, we examine how the web is changing supply chain management. The five functions of supply chain management include the following: 1. Description.
Define clear measurement program 3. Metrics for Measuring Supply Chain Performance 61 Chapter 6. ISBN-13. the absolute size of the profit must be considered in relation to the stockholders' net investment, or net worth. Procurement, storing, and delivery is the functions of supply chain management. Thankfully, there are 4 simple ways to mitigate and control the effects. Reference studies the Bayesian network method to measure the risk of circular supply chain, which can help supply chain managers and risk experts focus on areas that are more vulnerable to risks. The supply chain process begins with your suppliers, so the first step to improving your supply chain should be to evaluate your supplier relationships. This is because these costs account for 5% to 50% of the total landed cost of the product, which includes the purchase price, freight, insurance, warehousing, customs duties, and other costs. C. inventory, quality, time, delivery, and flexibility. True False. 184 terms. Simplifying the complex The first step of the transformation plan, reorganizing Starbucks' supply chain organization, got under way in late 2008. n. See Page 1 57 of 126 Definition Which of the following are examples of traditional measures of supply 58 of 126Capacity-constrained resource demand exceeds supply Work-in-process inventory Awesome! Supply Chain Operations: Planning and Sourcing 17 Chapter 3. SCORmark, facilitated by our global alliance partner PricewaterhouseCoopers (PwC), combines the SCOR Digital Standard hierarchy with PwC's historical population data of from more . 4/14/22, 7:44 PM Test: Chapter 11 And 15 Practice Quiz, Chapter 7 JIT AND Chp 4 Supply Chain Management, Chp 12-13-14-16 | Quizlet Definition When monitoring the progress of a project, it is important to focus on? In the manufacturing process, raw materials are required to produce goods and products. Businesses have now started to pay more attention to this component simply because of its impact on the supply chain. 20 terms. Supply chain sustainability is accomplished primarily through A. Strategic positioning. Question 16. 6.Unforeseen Delays. Time - When companies look at selecting supply chain performance metrics, they usually will examine those metrics that relate to time, as they are easily calculated, easily understood, and clearly show operational effectiveness. Supply Chain Performance Measures. What are Supply Chain KPIs? Supplier lead time reduction. These two questions relate to two key financial indicators EBITDA and net working capital that CEOs and shareholders alike examine to determine a company's success. The first function of supply chain management is purchasing. Definition of the bullwhip effect. Customer Service