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[33:799:301] - Final Exam Guide - Everything you need to know! (46 pages long)


Department
Supply Chain Management
Course Code
33:799:301
Professor
James King
Study Guide
Final

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Rutgers
33:799:301
FINAL EXAM
STUDY GUIDE

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Supply chain management - From obtaining raw goods to delivering final goods to customers
- Managing all the steps involved in bringing a product to market - buy materials,
manufacture or assemble them, sell to customer
Vertical integration - Company owns resources from point of source to point of sale
Tiers of suppliers and tiers of channel partners (customers) all the way to consumers
Tier 1 = Direct supplier/customer
Tier 2 = Indirect supplier/customer
Tier 3 = Indirect supplier/customer
Tier n = Indirect supplier/customer
Efficient supply chain model - Supply chain and processes are designed to minimize cost,
predictable supply and low cost, high inventory turns, low cost production/utilized capacity
Responsive supply chain model - Supply chain designed to respond quickly to market demand,
fast response, minimal inventory, minimize lead time, flexible capacity/inventory of parts
Push or Make-to-Stock - Producing stock on the basis of anticipated demand
- Forecast > Buy components > Manufacture > Warehouse > Sell > Deliver
Pull or Make-to-Order - Producing stock in response to actual demand
- Sell > Buy components > Manufacture > Deliver
Material Requirements Planning - Method of determining what materials are needed and when
they are needed to support the production plan
Manufacturing Resource Planning - A method for the effective planning of all resources of a
manufacturing company
Just-in-Time - Philosophy of manufacturing based on the planned elimination of all waste and
continuous productivity improvement
Total Quality Management - Management approach to long-term success through customer
satisfaction based on the participation of all members of an organization in improving
processes, goods, services, and the culture in which they work. Everyone in the organization
has to take ownership for quality.
Business Process Reengineering - Procedure that involves the fundamental rethinking and
radical redesign of business processes to achieve dramatic organizational improvements in
such critical measures of performance as cost, quality, service, and speed
Companies have to focus on:
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- Speed
- Sustainability
- Corporate Social Responsibility
- Ethics
- Digital Disruptions
- Low barriers to entry by competitors
- Connected consumers
Globalization - Expanding the Supply Chain internationally, bothy mature and emerging markets
have become a part of the overall business growth strategy for many companies
Companies needs to be more flexible and responsive to customer needs, adapting to
unexpected changes, necessitating closer integration and collaboration
- Working on new cost-reduction initiatives across the entire supply chain - challenging
partners to reduce cost as well
Companies are also focused on risk mitigation to offset business volatility
Societal pressures to make and source in ‘the right way’; minimizing social, economic and
environmental impact
Supply Management - Sourcing, acquiring necessary products to create your business
Operations Management - Forecasting and demand planning, all types of management
Logistics Management - Warehousing and distribution, transportation
Integration - Enabling systems, project management, performance management
Transportation Management - tradeoff decisions between cost and timing of delivery/customer
service via truck, rail, air, pipeline & water
Network Design - Creating distribution networks based on tradeoff decisions between cost and
sophistication of distribution system
Supply chain basic model: Plan > Source > Make > Deliver > (prepare for) < Return
Sourcing is the process of identifying the suppliers that provide the materials and services
needed for the supply chain to deliver the finished products
Seven R’s Rule - Right product, right quantity, right condition, right place, right time, right
customer, right costs
- Balancing low cost manufacturing with variable customer demand
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