Agile
A well-designed supply chain information system allows managers to recalibrate plans and adjust to volatility in supply and demand. This will help a company become more ______________
It is easy to get
When supply chain data is said to be accessible, what does this specifically mean?
Cloud computing
The type of technology that provides control for which relevant supply chain info can be seen by all stakeholders, creates one version of the truth and eliminates information time lags that hinder event management response
Product, money, information
What are the three flows in supply chain management?
Provide a clear view of the three flows
According to the seven principles of supply chain management, developing an effective supply chain-wide technology strategy will?
Execution
Something that carries out the plan created by a planning system. It "facilitates and improves performance of day-to-day operating tasks
Intelligence tools
These are used in decision making
Event management
This has "disruptions" and "exceptions", if something goes wrong
Optimize
Creation and evaluation of optimal plans within the context of the company's current operating model
Configure
Support a company's efforts to design their supply chains, taking account of future alternative operating models and/or trade-offs between different configuration
Respond
Support the ability to profitably respond to changes in any aspect of execution in a near-real-time manner
False
T/F: Global and domestic supply chains are very similar. The only major challenge is the long distance between the seller and the buyer
Finished goods
International trade is dominated by high value, time sensitive ________ ________ which requires strong global supply chain management capabilities
True (true because they have longer supply chain, more time for disruptions and need more safety stock)
Compared to domestic supply chains, global supply chains have more participants and higher inventory levels
Global sourcing
_________ ___________ entails identifying, evaluating, negotiating, and configuring sources of supply across multiple geographies to reduce costs, maximize performance, and mitigate risks
Lower costs, access to new skills and resources
What are two advantages of global sourcing?
Transportation costs, Tariffs/duties
An analysis of global sourcing alternatives should include the following financial considerations
Contract Manufacturing
___________ _________ is the production of goods by one firm, under the label or brand of another firm based on the customers' designs, formulas, and/or specifications
Direct Investment
If a company wants to move from domestic manufacturing to global manufacturing, which global manufacturing option provides the highest potential return on investment but also creates the greatest risk
Lower freight costs
What is the most commonly cited benefit of pursuing a near-shorting sourcing strategy
Bill of Lading
Which international trade document is issued by the transportation carrier to the exporter acknowledging that shipment has been received and placed on board a particular vessel bound for a particular destination
Group E
These are the departure terms; the buyer has full responsibility from door to door
Group C
These are after the main carriage paid; the seller is responsible for getting goods through port of export, and delivered to the port of import
Group F
This is when the main carriage is unpaid; the seller is responsible for packing the goods and getting the goods to a named place, usually a port of export. And the buyer is responsible from the named place to their location
Group D
This is on arrival; the seller takes full responsibility for getting the goods to the buyer's location
13; 11
Incoterms fell from ____ to _____
Freight insurance
How can an organization reduce its risk of losses in global trade?
Commercial invoices
Which trade document is a bill for goods from the seller to the buyer? It is also used by customs agencies to control commodities and determine duty vacations
Letter of credit
It is when you get a bank involved, in order to assure a payment
Proper packaging
What is the most cost-effective way to prevent international freight damage
Terms of Trade
______ ____ ________ determine the seller's and buyers respective obligations, concerning responsibilities, risks, and charges for the transportation of goods from the seller's premises to the buyer's place
International Commercial Terms
What does INCOTERMS stand for?
Trade documentation
_________ __________ drives the entire export process. Moving information in a timely fashion is key to uninterrupted freight flows
Certificate of Origin
This document verifies the country in which the goods where manufactured
Numerous perils are created by longer distance travel and extensive product handling
Why is freight protection an issue?
Indirect service
Moving of freight is interrupted by changes in transportation modes along the way from the origin to the destination
Direct service
Freight moves directly from the origin to the destination
Freight routing
Routing practices impact customer satisfaction, supply chain performance, and organizational success
Ad valorum taxes
Taxes that are based on the commodity being imported, its declared value, its country of origin, and other factors
Bounded warehouse
A warehouses that holds goods on which the duties are unpaid
Global SCMN
This focuses on planning, implementing, and controlling the cross-border flows of materials, money, and information between companies in different countries
Transaction channel
Ownership transfer issues and responsibilities for freight management
Communication channel
Documentation and information sharing activities geared toward creating visibility and control
Distribution channel
Decisions regarding mode, carrier, and route selection to promote efficient, safe, and reliable delivery
Evaluate the spend category and user requirements
What is the first primary step in global sourcing
Identify and qualify potential suppliers
What is the second step in global sourcing
Select the supplier and negotiate the details
What is the third primary step in global sourcing
Plan and execute the implementation
What is the fourth primary step in global sourcing
Monitor the results and take corrective action
What is the fifth primary step in global sourcing
Supply Chain execution
The applications that direct manufacturing operations, oversee distribution processes like receiving and order fulfillment, and ship products