What is primary activity of supply chain management?

The three primary activities of supply chain management include: Demand Management – Understanding the exit demand, quantity, due date, certainty and priority of an organization's products. To achieve successful demand management, it is key to have current data, collaboration and a wide range of visibility.14-Nov-2017

What is the basic objective of supply chain management Mcq?

The basic objective of supply chain management is to ensure minimum cost and maximum efficiency in every aspect of handling of raw material, component parts and finished goods as they move from production centre to the final consumer.

What is meant by supply management?

Supply management is the act of identifying, acquiring, and managing resources and suppliers that are essential to the operations of an organization. It includes the purchase of physical goods, information, services, and any other necessary resources that enable a company to continue operating and growing.

What is the major decision areas in supply chain management?

The major decision areas in supply chain management are 1) location, 2) production, 3) inventory, and 4) transportation (distribution).07-Sept-2022

What are the four 4 stages of supply chains?

What are the components of your supply chain you should be focusing on right now?

INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage.
OPERATIONS.
PURCHASING.
DISTRIBUTION.

What are the 5 stages of the supply chain?

The Top-level of this model has five different processes which are also known as components of Supply Chain Management – Plan, Source, Make, Deliver and Return. Let's deep dive into each component: Plan: Planning is imperative to control inventory and manufacturing processes.31-Aug-2020

What are the 7 supply chain functions?

The functions of a supply chain include product development, marketing, operations, distribution, finance, and customer service. Today, many supply chains are global in scale. Effective supply chain management results in lower costs and a faster production cycle.

What does 3PL stand for?

third-party logistics

What are the 4 components of supply chain management Mcq?

The major decision areas in supply chain management are

location, production, distribution, inventory.
planning, production, distribution, inventory.
location, production, scheduling, inventory.
location, production, distribution, marketing.

What are the 6 types of supply chain management?

Here are six types of supply chain models that can drive supply chain management for a business:

Continuous Flow. This is one of the most traditional models on the list.
Fast chain. The fast chain model is one of the new names in supply chain strategies.
Efficient Chain.
Agile.
Custom-configured.
Flexible.

What is the full form of SCM?

What is SCM (Supply Chain Management)? At the most fundamental level, supply chain management (SCM) is management of the flow of goods, data, and finances related to a product or service, from the procurement of raw materials to the delivery of the product at its final destination.

What are the 8 supply chain processes?

The Supply Chain Management Process includes the building blocks of Supply Chain Management are Strategic Planning, Demand Planning, Supply Planning, Procurement, Manufacturing, Warehousing, Order Fulfillment and Transportation business processes.

What are the 4 main areas of supply chain?

Integration, operations, purchasing and distribution are the four elements of the supply chain that work together to establish a path to competition that is both cost-effective and competitive.07-Dec-2021

What are the top 3 elements of supply chain?

Generally the key aspects of Supply Chain management are Purchasing (sourcing), Planning (scheduling) and Logistics (delivery).30-Oct-2018

What are the 3 types of supply chain strategies?

The three levels of supply chain management are strategic, tactical and operational.

Strategic Planning. This level of supply chain management is responsible for developing long-term plans that outline the company's overall objectives and goals.
Tactical Planning.
Operational Execution.

What is supply chain process cycle?

The Supply Chain and its Cycles. A simplistic representation of a supply chain involves a sequence of five stages, from suppliers to the final customer. Each of these stages has its own cycle, which is a sequence of operations and transactions taking place between two stages.

Is the fourth stage of SCM?

The fourth stage is the delivery stage. Here the products are delivered to the customer at the destined location by the supplier. This stage is basically the logistics phase, where customer orders are accepted and delivery of the goods is planned.

What is supply chain life cycle?

In short, a supply chain life can be separated into three stages: 1) formation, 2) operation and 3) extinction. Each step is critical to the next step, even extinction is critical to the next formation and the overall success for the supply chain and the overall continuity of the business.09-Oct-2008

What are the 10 key elements of supply chain management?

What are the 10 Basic Elements of Supply Chain Management?

Integration. Every business needs strategic planning for the better functioning of operations.
Operations.
Purchasing.
Distribution.
Agility.
Innovation.
Performance Measurement.
Alignment.

What are the 5 primary activities of a value chain?

The value chain framework is made up of five primary activities -- inbound operations, operations, outbound logistics, marketing and sales, service -- and four secondary activities -- procurement and purchasing, human resource management, technological development and company infrastructure.