Exam 2: Supply Chain Management

Purchasing power determines the clout that a firm has.

Acme Corp averages $15 million worth of inventory in all of its worldwide locations.The enterprise operates 51 weeks a year with each week averaging $3 million in sales (at cost).Determine the inventory turnover.

________ is a stock of material used to satisfy customer demand or support the production of goods and services.

Briefly state what responsive supply chains are.

Give three supply chain process measures applying to order placement.

The practice whereby a manufacturer has inventories of materials on consignment from its suppliers falls under the scope of

Backward integration describes the practice of gaining control over supplies by acquiring a controlling interest in one or more of a company's major suppliers .

Define inventory.

Describe the weeks of supply measure.

Describe green purchasing.

Manufacturing firms typically enter into contracts with Tier 2 suppliers with the expectation that these suppliers will then incorporate the guidelines of these contracts into the agreements they in turn enter into with Tier 1 suppliers.

What makes vertical integration attractive as a strategic decision in the design of a firm's supply chain and what does forward and backward integration in the supply chain mean?

________ is a reduction in inventory and safety stock because of the merging of variable demands from customers.

The objective of a firm in a responsive supply chain is likely to be realized if it has a

________ seeks to synchronize a firm's processes and those of its suppliers to match the flow of materials,services,and information with customer demand.

Which of the following best describes vendor managed inventory?

Describe presourcing.

The ________ process produces and delivers the service or product to the firm's customers.

Compare and contrast competitive orientation versus cooperative orientation for suppler relations.

A common disruption of the internal supply chain is information errors.