NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management

NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management Solutions to each chapter is provided in the list so that you can easily browse through different chapters NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management and select need one. NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management Question Answers Download PDF. NIOS Study Material of Class 10 Logistics & Supply Chain Management Notes Paper 258.

NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management

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Also, you can read the NIOS book online in these sections Solutions by Expert Teachers as per National Institute of Open Schooling (NIOS) Book guidelines. These solutions are part of NIOS All Subject Solutions. Here we have given NIOS Class 10 Logistics & Supply Chain Management Chapter 21 Components of Supply Chain Management, NIOS Secondary Course Logistics & Supply Chain Management Solutions for All Chapters, You can practice these here.

Components of Supply Chain Management

Chapter: 21

INTEXT QUESTIONS 21.1

1. __________ can be described as the control of the flow of goods and services from the point of manufacture to the point of consumption.

(a) Logistics.

(b) Warehousing.

(c) Supply Chain Management.

(d) E- Commerce Business.

Ans: (c) Supply Chain Management.

2. The __________ is designed for organisations that operate in competitive marketplaces and require end-to-end efficiency.

(a) Agile Model.

(b) Efficient Chain Model.

(c) Continuous Flow Model.

(d) Flexible Model.

Ans: (b) Efficient Chain Model.

3. __________ is for companies that have trendy products with a short life cycle.

(a) Fast Chain Model.

(b) Flexible Model.

(c) Efficient Chain Model.

(d) Configured Model.

Ans: (a) Fast Chain Model.

4. Expansion of SCOR:

(a) Supply Chain Organization Research.

(b) Supply Chain Operations Research.

(c) Supply Chain Organization Reference.

(d) Supply Chain Operations Reference.

Ans: (d) Supply Chain Operations Reference.

5. __________ is one of the most promising decision-making. models for strategy.

(a) Flexible model.

(b) SCOR Model.

(c) Efficient Model.

(d) Configured Model.

Ans: (b) SCOR Model.

INTEXT QUESTIONS 21.2

1. Which of the following is not a Supply Chain Management component?

(a) Order.

(b) Plan.

(c) Source.

(d) Location.

Ans: (a) Order.

2. Expand – ERP.

(a) Entrepreneurship Research Planning.

(b) Enterprise Regional Planning.

(c) Enterprise Resource Planning.

(d) Enterprise Research Planning.

Ans: (c) Enterprise Resource Planning.

3. “Standardisation” is in the opposite polarity of.

(a) Diversification.

(b) Differentiation.

(c) Dissatisfaction.

(d) Dissolution.

Ans: (b) Differentiation.

4. __________ can access cloud-based supply chain software from anywhere, at any time, so they can continue to manage, track, and monitor transaction status while on the go.

(a) Authorised users.

(b) Specified users.

(c) Both A & B.

(d) Restricted users.

Ans: (a) Authorised users.

5. __________ is the process of discovering vendors who will procure goods and services in the most cost-effective and efficient manner to meet planned/ actual demand.

(a) Collecting.

(b) Locating.

(c) Procuring.

(d) Sourcing.

Ans: (d) Sourcing.

TERMINAL EXERCISE

1. List out the Major Components of Supply Chain Management.

Ans: The major Components of supply Chain Management are mentioned below: 

(i) The Agile Model is suitable for companies that deal with custom orders.

(ii) In a high-demand market, the Continuous Flow Model provides stability with little variation.

(iii) At the production and assembly levels, the bespoke Configured Model allows for custom configurations.

(iv) The Efficient Chain Model is designed for organisations that operate in competitive marketplaces and require end-to-end efficiency.

(v) The Fast Chain Model is for companies that have trendy products with a short life cycle.

(vi) Flexible Model allows for strong demand peak stone met while also managing long periods of low volume movement.

(vii) The Supply Chain Operations Reference (SCOR) Model is used to measure waste, set standards, and enhance the SCM system over time.

2. Draw the diagram of the SCOR Model of SCM.

Ans: The diagram of the SCOR Model of SCM are mentioned below:

3. Explain the SCOR Model of SCM in today’s Business context.

Ans: The SCOR Model is one of the most promising models for strategic decision-making. It has divided business into multiple processes, resulting in a management environment that is always engaged. It assists businesses in improving operations at both the macro and micro levels. 

The top, configuration, and process elements of supply chain management are defined by the model are:

(i) Plan: Controlling inventory and production operations requires meticulous planning. Companies are constantly attempting to align supply with aggregate demand by building a strategy based on analytics. The term ‘Source’ refers to the process of obtaining what has been planned. ‘Make’ is the process of planning what is sufficient for production, and ‘Deliver’ is the process of achieving  significant service Plan levels by delivering on schedule and within the specified lead time. To avoid the Bullwhip effect, it’s also a good idea to keep an eye on demand changes throughout the value chain.

Firms, for example, use analytical tools to forecast market demand and use material planning systems like Material Requirement Planning to plan the required raw materials (in SAP ERP system) Supply chain managers must plan ahead to satisfy client demands. Forecasting demand, designing the supply chain intentionally, and deciding how the organisation will measure the supply chain to ensure it is performing as expected in terms of efficiency, delivering value to customers, and assisting in the achievement of organisational goals are all examples of this. 

(ii) Source: Sourcing is the process of discovering vendors who will procure goods and services in the most cost-effective and efficient manner to meet planned/actual demand. Suppliers must meet specific requirements in order for the company to deliver high-quality goods to the customer. Perishable and non-perishable products can both be sourced.

(iii) Location: Another crucial aspect of supply chain management is assisting with direct and indirect consumer integration. It has made a substantial contribution to the firm’s brand image. Consumers’ expectations for finished goods and services must be met through the company’s delivery channels and logistics services. The company uses a variety of freight modes, including road, air, and rail, to ensure a seamless Delivery.

4. Elucidate the key principles of Supply Chain Management.

Ans: The key principles of supply Chain Management are mentioned below: 

(i) Adapt Supply Chain to Customer’s Needs: Customers’ requirements are addressed in the training of both businesspeople and supply chain specialists. We separate clients into distinct categories to better understand them, which we term “segmentation.” ABC analysis, which divides customers based on sales volume or profitability, is the most basic method of segmenting customers. Product, industry, andtrade channel segmentation are additional options.

(ii) Customise Logistics Network: The logistics network is the next item to personalise once you’ve divided your consumer base. To service various segments, you must customise distinct logistic networks. Companies must plan and manage their logistical, warehousing, and transportation activities to fulfil the unified standard. For example, you may already have separate logistics networks for different customers if you were a contract manufacturer in China. Each client in the United States or the European Union may already have control over raw material sources, and may request specialised manufacturing lines, as well as 3PL businesses and air/sea carriers. As a result, logistics network design is a customer driven project.

(iii) Adopt Both Service and Financial Metrics: According to Anderson et al, Activity Based Costing (ABC) should be used to estimate client profitability. There is, however, an intriguing twist to the ABC principle. In his book “Accounting and Management: A Field Study Perspective,” Robert Kaplan and W. Bruns established activity based costing in 1987. In 2003, however, Robert Kaplan stated that maintaining the ABC costing model to reflect changes in activities, processes, goods, and consumers is tough. Then he created Time Driven Activity Based Costing, a more refined idea.

(iv) Strategically Outsource: Outsourcing entails enlisting the help of other parties to complete certain duties on the company’s behalf. It is the quickest approach to saving money. However, while outsourcing work, there are several golden standards that must be followed. It is recommended that businesses do not outsource their core competencies. Vendors for outsourcing the task should be selected accordingly. It is always preferable to retrain a small number of employees who have sufficient knowledge and experience to manage outsourced vendors.

(v) Create it That Facilitates Multi-level Decision-making: 

If you search for vital success factors on Google, you will get a wealth of material. You can also learn how to properly deploy ERP (Enterprise Resource Planning) in your present company. To support the re- engineered business process, enterprise – wide systems are replacing several rigid and poorly integrated systems. It’s improving people’s knowledge of process flaws, and it’s helping businesses figure out what kind of technology they need.

5. Discuss the features of effective supply chain Management.

Ans: The features of effective supply chain Management are mentioned below: 

(i) Ability to Integrate Throughout the Supply Chain: A digital system should include functions that cover the whole supply chain, integrating numerous organisations such as suppliers, OEMs, shippers, warehouse centres, and customers. Technology is an enabler. It should work with all of your other apps, including business software, legacy systems, third-party apps, help desk, and email, independent of the information source, operating system, or platform. This can solve connectivity problems and allow for efficient information flow throughout a chain.

(ii) Real-time and Collaboration Capabilities: Bottlenecks, missing goods, and dissatisfied customers can all be avoided with real-time information. Organisations with real-time capabilities are better able to adapt to changes in the supply chain as they occur.

(iii) Process Optimization Abilities: When normal, repetitive operations are automated, employees can focus on higher paying duties. Businesses can use AI and machine learning to optimise additional tiresome operations in addition to automating operational duties with bespoke rules. For example, software can be programmed to only accept a product if it is in its best-finished state, removing the need for human interaction. Organisations can use this strategy to experiment with more agile working methods, better manage high levels of complexity, and only use human intervention in exceptional circumstances.

(iv) Customization: Prebuilt application components and bespoke business rule configurations provide flexibility, allowing organisations to quickly adjust to changes and get to market with tailored solutions for customers. Developers can enhance the functionalities of some supply chain solutions using programming languages like Java and Python. Open architecture also encourages businesses to create their own applications to meet their specific needs, such as creating various versions of a product to appeal to different client segments and therefore increasing revenue.

(v) Cloud-Based Access and Mobility: Authorised users can access cloud-based supply chain software from anywhere,

at any time, so they can continue to manage, track, and monitor transaction status while on the go. Another advantage is that a cloud-based solution can be implemented at a lesser cost, in less time, and with less risk than an on-premise system. 

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