SCHM 2301 Exam 1 Questions with

SCHM 2301 Exam 1 Questions with Complete Solutions (Latest 2025) supply chain management - Correct Answers ✅- the design and execution of relationships and flows that connect the parties and processes across a supply chain

• focuses on managing relationships and flows (flows of info,

materials, energy, money, people) operations management - Correct Answers ✅- the management of processes used to design, supply, produce, and deliver valuable good and services to customers

• mainly concerned with how resources will be developed and

used to accomplish business goals corporate strategic planning - Correct Answers ✅- addresses the portfolio of business owned by a firm

• communicates the overall mission of the firm
• identifies the types of business that the firm wants to be in
• is the broadest in scope
• is the least constrained
• covers a long-term horizon

strategic business unit planning - Correct Answers ✅- "how should our business unit compete"

• what customers and market segment they consider?
• what product they will offer? 1 / 3

SCHM 2301 Exam 1 Questions with Complete Solutions (Latest 2025)

• how compete with competitors by its competitive

advantage?

• several factors affect business models such as technologies,

competitors, market

• SWOT analysis is usually used

functional planning - Correct Answers ✅- each group in SBU has to develop this type of strategic plan --> one that is coordinated with and supportive of the SBU plan

• is the most detailed and constrained strategy

strategy (design) - Correct Answers ✅- how to structure (configure) the supply chain during the next several years

- ex: outsource/insource, locations of warehouses, production

sites, modes of transportation planning (tactical) - Correct Answers ✅- maximize the supply chain surplus over the planning horizon quarter to a year

- ex: which markets will be supplied from which locations, the

subcontracting of manufacturing, the inventory policies to be followed, the timing and size of marketing and price promotions 2 / 3

SCHM 2301 Exam 1 Questions with Complete Solutions (Latest 2025) operational (functional) - Correct Answers ✅- make decision regarding individual customer orders (weekly or daily)

- ex: allocate inventory or production to individual orders, set

a date by which an order is to be filled, generate pick lists at a warehouse, set delivery schedules of trucks, place replenishment orders operations strategy - Correct Answers ✅- a set of competitive priorities

• coupled with supply chain structural and infrastructural

design choices

• intended to create capabilities that support value prop for

key customers value proposition - Correct Answers ✅- all of the tangible and intangible "benefits" that customers can expect to obtain by using the products offered by the firm

• presented as a statement of product and service features

and defines how the business competes as well as the types of products that it will offer

• main characteristics of value proposition - Correct

Answers ✅1.) it offers a combination of product features that customers find attractive and are willing to pay for

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