Exploring Supply Chain Concepts

Imagine Abigail is helping Cebo manage the inventory for a local bookstore. What do you think is the primary goal of inventory management?

• To minimize product variety.

• To eliminate all stockouts.

• To increase storage costs.

• To balance supply and demand effectively.

Imagine Kai and Ethan are brainstorming exciting ways to manage inventory for their trendy new shop. Can you name two popular inventory management techniques they might consider?

• Safety Stock and Reorder Point

• Batch Processing and Continuous Review

• Just-In-Time (JIT) and Economic Order Quantity (EOQ)

• First-In-First-Out (FIFO) and Last-In-First-Out (LIFO)

Hey there, students! Have you ever wondered how logistics can spice up the supply chain efficiency at a delightful place like Carla's Bakery? Let's dive in!

• Logistics has no effect on supply chain efficiency.

• Logistics increases supply chain costs without benefits.

• Logistics enhances supply chain efficiency by optimizing transportation, inventory management, and operational processes.

• Logistics only focuses on customer service.

During a lively logistics class, Aiden and Abigail were having an animated discussion about the essential components of transportation management.

• Product packaging design

• Key components of transportation management include route planning, carrier selection, freight auditing, shipment tracking, and performance analysis.

• Inventory management

• Customer service training

David and Aria are on a mission to enhance their company's supplier relationships! Can you help them define what supplier relationship management really means?

• Supplier Relationship Management is all about haggling for the best prices with suppliers.

• Supplier Relationship Management is the exciting process of strategically managing interactions and relationships with suppliers to boost efficiency and value.

• Supplier Relationship Management is the art of handling customer complaints.

• Supplier Relationship Management is focused on keeping inventory levels in check with suppliers.

Hey there, aspiring bakers! What exciting factors should Olivia and Ethan consider when choosing the best suppliers for Nombulelo's new bakery?

• Employee benefits

• Brand popularity

• Supplier location

• Price, quality, reliability, financial stability, reputation, compliance, and specific needs.

Sophia, William, and Liam are having a lively discussion about the magic of demand forecasting in supply chain management for their exciting new startup. They are eager to discover how it can supercharge their business!

• Demand forecasting is primarily used for marketing strategies.

• Demand forecasting is only useful for large companies.

• Demand forecasting is essential for optimizing inventory, reducing costs, and improving service levels in the supply chain.

• Demand forecasting has no impact on customer satisfaction.

In a recent exciting project, Noah and Anika teamed up to forecast demand for a brand new product launch! Can you guess which methods they used for their demand forecasting adventure?

• Historical data analysis

• Customer satisfaction surveys

• Inventory management techniques

• Qualitative methods (expert opinion, market research) and quantitative methods (time series analysis, causal models).

Imagine Samuel is managing a delightful bakery and is curious about how production planning can spice up the inventory levels of his scrumptious ingredients.

• Production planning is all about slashing production costs.

• Production planning has zero effect on how ingredients are stocked.

• Production planning boosts inventory levels without considering what customers want.

• Production planning is the secret ingredient to optimizing inventory levels by harmonizing supply with demand.

Hey there, future bakers! What exciting steps do you think Avery, Isla, and Kai should take in production planning for Raygene's new bakery?

• The steps involved in production planning are: demand forecasting, capacity planning, scheduling, inventory management, and production control.

• Employee training and development

• Market analysis and research

• Product marketing strategy