SCM 300 EXAM 1 STUDY GUIDE LATEST 2023 NEW A RATED EXAM

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SCM 300 EXAM 1 STUDY GUIDE LATEST 2023 NEW A RATED EXAM Supply Chain Management: The Efficient Integration of: suppliers, manufacturers, transportation organizations and other parties responsible f... or bringing products and services to market (doing the least amount of work for the best product) -Achieve Goals -Execute Efficiently -Manage Resources Operations Management: Design, operation, and improvement of the production systems that efficiently transform INPUTS into finished goods maximizing productivity (ie. process management, capacity planning, scheduling, waiting line management) Procurement (purchasing): responsible for acquiring materials, equipment, products and services ○ Finding supplier that offers the best value ○ Negotiate terms of purchase ○ Create long-term relationships with suppliers Operations: responsible for making business processes effective and efficient ○ Making highest quality product with the fewest resources possible Logistics: responsible for developing transportation itinerary (movement and storage) to navigate smooth flow of materials Reverse Logistics: management of products that flow upstream (toward supplier) Global SCM: when supply chain partners span across multiple countries/continents 1st tier suppliers: provides goods and services directly to a company 2nd tier supplier: provides goods and services to a company’s 1st tier supplier SCM flows: Materials, money, and information -if these three are not continuously flowing, supply chain will fail Business model: a company’s plan for how it will purchase items, transform them, deliver them, and sell them to product profit ○ Business to Consumer (B2C) - amazon, starbucks, nordstrom ○ Business to Business (B2B) - boeing, consulting/marketing agencies ○ Both B2B and B2C- IBM, dell, verizon ○ Brick & Mortar- land-based commerce only (ex.Burger King, Circle K) ○ Internet Only Retailer -net commerce only (ex. Amazon.com) ○ Click & Mortar - land-based and internet (ex. Nordstrom, barnes and noble) [Show More]

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