Study Guide exam 2 - Review Study Guide Exam 2 1 Who are...

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Review Study Guide: Exam 2 1. Who are suppliers? a. People who are providing the product 2. What do they supply? a. Goods and services for use in producing, transporting, storing, and after market disposition of other goods and services for customers. 3. What is a supply chain? a. All members and parts that makeup the process to get product to end consumer. a.i. Raw materials suppliers firm retailers/wholesalers consumers a.i.1. Recycling can also be a part of the supply chain in most aspects 4. Who are the upstream and downstream partners? a. Upstream- is a supplier b. Downstream - is a customer **Business process associated with suppliers- acquisition and management of suppliers 5. Why do you want to acquire/develop a relationship with suppliers? a. Affect ability to retain consumers b. Affect bottom line profitability c. Represent your company and your company’s interests and values 6. Long term benefit? a. Ultimately will be more profitable in the long run. 7. What value do they add to your product/service in the eyes of your customer? a. Cost efficiencies; better customer service; increased speed of delivery 8. What is just-in-time? a. Gets product to you just when you need it 9. What is supply chain management?
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a. Planning and management of all activities involved in sourcing and procurement, conversion, and all logistics, management activities, after market disposition, customer service, inventory management, production scheduling. b. Coordination and collaboration with channel partners, which can be suppliers, intermediaries, 3 rd party service providers, and customers c. Integrates supply and demand management within and across companies thru info flow 10. Factors affect management of Supply Chain? a. Communication, trust, honesty, power, and understanding needs and wants of the supplier 11. Goals of managing the supply chain?
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