Scm 300 Module 1 (Davila) Exam Questions (24 Terms) With Verified Definitions Updated 2024

Procurement {Ans: the branch of an organization responsible for acquiring materials, equipment, products, and services. The department responsible for shopping.}Value {Ans: the ratio of "output purchased" divided by "inputs used to purchase" the product or service. Customers seek value. Value increased by giving customers more for the same price, or give them same amount at lower price. Calculation of value (what did I Buy)/(what did it cost me) or (amount of soup, taste of soup, brand name, ease of cooking)/(money paid for soup, convince of purchase)}Competitive Proprities {Ans: cost, quality, speed, and flexibility. Companies and supply chains compete in these four areas. Each company is different in each area. Tracking performances in these areas help the company in meeting its goals in the present and future. Cost: materials, energy, wages, transportation, rent Quality: design, reliability, consistency, materials and fabrics Speed: delivery, on-time, innovation time Flexibility: customization, size of order, design}Downstream {Ans: It's the direction in which products flow towards an end consumer. Direction is the right}Logistics {Ans: A branch in the supply chain responsible for developing the transportation itinerary and finding reliable transportation and storage partners, to be able to navigate the flow of materials