Supply Chain Concepts

Front

Definition of supply chain

Back

A group of interconnected companies adding value to transformed inputs from origin to end products or services

Front

Intrinsic flow of supply chain

Back

Flow of material, information, cash, and products

Front

Responsiveness in supply chain

Back

Improving responsiveness across the whole supply chain

Front

Logistics components

Back

Product scheduling, replenishment, procurement

Front

Supply chain transformation

Back

Transforming inputs to end products or services

Front

Supply chain interconnectedness

Back

Interconnected participating companies

Front

Purpose of supply chain

Back

Efficiency, responsiveness, and value delivery

Front

Supply Chain Strategy is defined as a strategy for how the demand chain will function in its environment to meet the goals of the organization's business and organization strategies.

Back

True

Front

Common business strategies that are generic to many industries and manufacturers include best cost, broad differentiation, and focused differentiation.

Back

High cost is not a common business strategy.

Front

A focus advantage exists when an organization can provide the same benefits from a product or service at a lower cost than a competitor.

Back

True