Updated Scmn 3150 Brian Gibson Test 1 Study Guide Graded A+

7 Principles of SCM {Ans: 1. Segment customers based on service needs 2. Customize the logistics network 3. Drive operations from demand 4. Differentiate product closer to the customer 5. Source strategically 6. Develop supply chain-wide technology strategy 7. Use supply chain spanning performance measures}What are the goals of SCM? {Ans: Customer care, competitiveness, efficiency, responsiveness and resilience; these goals focus on making BETTER, FASTER, AND CHEAPER, MORE RESPONSIVE supply chains than your competition}Decentralized networks create (6): {Ans: more safety stock, high overhead cost, short lead times, customer service, low delivery costs, few economies of scale}1. Cost (be low cost provider) 2. Quality (defect free products and services) 3. Speed (fast response time) 4. Reliability (consistent order cycle time) 5. Adaptability (deal with changing demand) 6. Flexibility (able to offer variety) {Ans: How can an organization build competitive advantage via SCM? (6)}_________ focuses on shortening the time to recognize true market data and understand true market shifts. {Ans: Demand sensing}What are the seven rights to fulfillment accuracy (customers expectations? {Ans: right product right customer right time right place right condition right quantity right cost}