Procurement
sourcing + purchasing + supplier management + total cost management is what?
Procurement
This is where the distribution center is owned by manufacturer (they are integrated together)
Integrated Fulfillment
A set of supply chain partners who participate in storage, transportation, and communications that contribute to the flow of goods.
Logistics Channel
A functional group (ex. formal entity on the organization chart) as well as functional activity (ex. buying goods and services)
like procurement is what?
Purchasing
This President has been the only human to have ever been allowed to mix creamery flavors.
A) George H. W. Bush
B) Bill Clinton
C) George W. Bush
D) Ronald Reagan
B) Bill Clinton
finding, evaluating, and contracting with the best suppliers is what?
Sourcing
Who does demand management work with a lot?
Marketing - in order to understand what our customers needs are
Supplier selection requires:
A) supplier evaluation and effective third-party logistics.
B) supplier development and logistics.
C) negotiations, supplier evaluation, supplier development, and contracts.
D) an integrated supply chain.
C) negotiations, supplier evaluation, supplier development, and contracts.
_ to _ is a situation where one business makes a commercial transaction with another
Business-to-business
Before Beaver was, well, Beaver, the football team played on __
The lawn in front of Old Main
____ are materials whose price is set by market supply and demand
Commodities
What is the goal when choosing your distribution channel? (Hint:$)
Make it less costly in terms of getting product to customer
Which of the following is NOT true about reverse logistics as compared to forward logistics?
A. Inventory management is not consistent.
B. Distribution costs are less directly visible.
C. Forecasting is more uncertain.
D. Speed is often very important.
E. Pricing is dependent upon many factors.
D. Speed is often very important.
Purchasing outside the purchasing chain is called what?
Maverick Spending
Originally the school colors were _ and _, which explains why the famous “S” made up by the S Section turns like this during homecoming week.
Pink and Black
Purchased items can represent _____ as firms contract out more of their manufacturing to others.
60% of revenues
20% of revenues
15% of revenues
60% of revenues
There are a lot of different ways we can get product to customers. How do we refer to these different ways?
Distribution Channels - looking at different avenues you can use.
A major issue in logistics is:
A) cost of purchases.
B) supplier evaluation.
C) product customization.
D) cost of shipping alternatives.
D) cost of shipping alternatives.
Star, Question Mark, Cash Cow, and Dog are examples from what?
Growth Share Matrix
T/F: Berkey Creamery is the largest university creamery in the world
True! Yummy!!!!
_ _ _ is the largest professional association in the world for people working in procurement, career center, professional credential programs
Institute for Supply Management (ISM)
which of the following choices is NOT a specific measure of Supply Chain performance?
A) Throughput time of the supply chain
B) Quality including customer satisfaction
C) Flexibility to accommodate customer needs
D) On time delivery
B) Quality including customer satisfaction
Name the Top Three shipping options in Logistics
Common Carrier
Contract Carrier
Third Party Logistics Carrier
What are the 7 Rights of Purchasing?
Right material
Right quantity
Right place
Right time
Right supplier
Right service
Right price
T/F: Penn State University’s Nittany Lion statue is the 2nd most photographed object in Pennsylvania
True!!