Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
What is a supply chain?
|
a network of organizations and facilities that transforms raw materials into products delivered to customers
|
|
|
What is unique about supply chains?
|
you can work in both directions- up or down
|
|
|
So, supply chains are also...
|
networks
|
|
|
What is the only source of revenue in a supply chain?
|
the customer
|
|
|
What four major factors affect supply chain performance?
|
facilities, inventory, transportation and information
|
|
|
What three things do facilities concern?
|
location, size and operations method
|
|
|
What does inventory include?
|
all materials in the supply chain, including raw materials, in-process work, and finished goods
|
|
|
When managing an inventory one must balance between...
|
availability and cost
|
|
|
What are the three factors of information?
|
purpose, availability and means
|
|
|
What is supply chain profitability?
|
the difference between the sum of the revenue generated by the supply chain and the sum of the costs that all organizations in the supply chain incur to obtain that revenue
|
|
|
When will the maximum profit for a supply chain NOT occur?
|
if each organization in the supply chain maximizes its own profits in isolation
|
|
|
What is the bullwhip effect?
|
the variability in the size and timing of orders increases at each stage up the supply chain, from customer to supplier
|
|
|
Why does the bullwhip effect occur?
|
b/c of the multistage nature of the supply chain
|
|
|
Overall the bullwhip effect...
|
reduces profitability
|
|
|
How can one eliminate the bullwhip effect?
|
to give all participants access to consumer-demand information from the retailer
|
|
|
In terms of the supply chain, what is speed?
|
the dollar value in goods exchanged in a given period of time
|
