CH 1 1 What type of utility does logistics directly contribute pg 3 logistics directly impacts both place and time utility 2 What are the types of utility pg 3 Possession Form Place Time 3 What is the definition of possession utility pg 3 The value or usefulness that comes from a customer being able to take possession of a product 4 What is the definition of efficiency pg 4 how well a company does what they say they are going to do 5 What is the definition of mass logistics pg 5 A one sized fits all approach in which every customer gets the same type and levels of logistics service 6 What is the definition of the systems approach pg 9 A company s objectives can be realized by recognizing the mutual interdependence of the major functional areas of the firm such as marketing production finance and logistics 7 Which departments measure inventories in terms of cost value and units pg 11 8 What are the components of the marketing mix pg 12 14 Finance cost value Logistics units Place decisions Price decisions Product decisions Promotion decisions CSCMP Glossary Carmen Articles wk1 9 What is the definition of benchmarking pg 19 The process of comparing performance against the practices of other leading companies for the purpose of improving performance 10 What is the definition of change management pg 32 The process of managing and monitoring all changes to products and processes What customers or users actually want 11 What is the definition of demand pg 57 Kewill Logistics 2020 Carmen Articles wk1 12 What is needed to react to changing demand pg 3 Speed time to market Agility Customer service 13 What are the challenges to the logistics industry increasing overall costs pg 6 Rising fuel prices Green logistics and mileage tax Labor shortages Reduced inventories smaller more frequent deliveries Parcel shipping internet shopping not just managing pallets now Traffic congestion 4PL 4th party logistics that don t own any assets but manage movement of goods CH 5 14 What are the characteristics of an underperforming supply chain pg 76 practices Poor service ex damaged goods resulting from bad material handling Unproductive assets ex inventory turnover High variable operating costs ex high transportation costs 15 What is the definition of a supply chain pg 77 A combination of processes functions activities relationships and pathways along which products services information and financial transactions move in and between enterprises from original producer raw material stage to ultimate end user or consumer 16 What are the components of the SCOR model pg 79 plan source make deliver return enable logistics operations procurement 17 What organizational functions are included in the SCOR model pg 79 18 What is the definition of an agile supply chain pg 80 81 Focuses on an organization s ability to respond to changes in demand with respect to volume and variety 19 What is the definition of a perfect order pg 81 An order that simultaneously achieves relevant customer metrics such as ontime delivery damage free and correct order quantity 20 What is the definition of supply chain collaboration pg 82 Cooperative formal or informal supply chain relationships between manufacturing companies and their suppliers business partners or customers developed to enhance the overall business performance of both sides 21 What collaboration offers the best opportunity for improving supply chain performance pg 83 measurement Strategic Collaborations joint buyer seller processes decision making and BCG Adaptive Supply Chain Carmen Article wk2 22 What are the trends affecting companies supply chain design and operation pg 4 5 Customization and diversity Consumer Connectivity Differential growth and inflation Margin pressure Information economics Regulatory and fiscal environment Commodity volatility Vulnerability of networks 23 Which of the 3 steps are used by companies to review how well the supply chain supports and reinforces competitive advantage pg 8 Supply chain strategic intent 24 What supply chain areas are affected by global trends pg 10 high definition demand responsiveness smart deployment planned resilience Supply Chain Management Review When Uncertainty is a CERTAIN FACTOR Carmen Article wk2 25 What are the factors affecting supply chains pg 41 the aging of developed countries oil prices a power shift toward the east trading bloc formation globalized Green Laws pervasive technologies 26 What are the technologies that provide supply chain visibility pg 44 tracking technologies GPS and smart tags such as RFID devices CH 6 27 What two terms are used synonymously pg 95 purchasing and supply management in the past purchasing and procurement NOW 28 What are the objectives of procurement pg 95 Supporting organizational goals and objectives Supporting operational requirements Managing the purchasing process effectively and efficiently Managing the supply base Developing strong relationships with other functional groups 29 What is included in the situational analysis step in the supplier and selection process pg 96 97 internal factors such as supply policies external factors such as legal issues 30 What is the final step in the supplier and selection process pg 97 evaluate the decision by comparing the actual and expected performances 31 What are the benefits of multiple sourcing of suppliers pg 97 increased amount of competition greater supply risk mitigation improved marketing intelligence 32 What is the purpose of Kraljic s Portfolio Matrix pg 98 used by managers to classify corporate purchases in terms of their importance and supply complexity with a goal of minimizing supply vulnerability and getting the most out of the firm s purchasing power 33 What step in the global sourcing process is planning used pg 100 Planning is the first step it is the process of honestly evaluating global sourcing opportunities and challenges 34 What is the definition of scrap material pg 103 Materials that are no longer serviceable have been discarded or are a by product of the production process ex scrap steel when producing an automobile or washing mashine Deloitte Charting the course Why Procurement must transform itself by 2020 Carmen Article wk3 35 What is the external forces procurement will need to respond for today and 2020 pg 7 corporate strategy financial metrics bottom line value global supply m a customers trade and operating model regulatory outsourcing offshoring 36 What does the risk management procurement outcome