Question

A successful supply chain management strategy integrates which of the following:

Multiple Choice

• processes and systems within and across organizations.

• processes and systems within the organization.

• the flow of materials within an organization.

• the flow of information within the buying organization.

• the flow of information with first tier suppliers.

Supply can influence risk management in which area(s)?

Multiple Choice

• financial

• operational

• reputation

• financial and operational

• financial, operational and reputation

Answer 1

• A successful supply chain management strategy integrates which of the following:

Answer- processes and systems within and across organizations.

Explanation- A successful supply chain management strategy provides a customer-centric approach and finding innovative ways to keep the cost at minimal at the same time instigate growth. The key dimensions to the success of supply chain management are the integration of the key dimensions such as market- supply and demand, product (availability or shortage), risk factors and the performance of the organization. These dimensions are not only within the extended supply chain but also across the organization. It is pertinent that the supply chain management strategy is the focus for all the departments in the organization.

Other options- processes and systems within the organization does not lead to effective management of other departments. The flow of information or the flow of materials across the organizations does not include risk and performance factors which are pertinent for successful supply chain management strategy.

• Supply can influence risk management in which area(s)?

Answer- financial, operational and reputation

Explanation- Supply influence risk management in financial, operational and reputational areas. Financial stability is a main factor for success of SCM. Operational efficiency exhibits the effectiveness of SCM. Finally, both financial and operational areas lead to the organization’s reputation. For example, if the organization is unable to deliver the products on-time, then it would lead to financial losses due to misdelivery, inefficiency in operations, and finally the reputation of the organization is at stake.