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SUPPLY CHAIN MANAGEMENT LOGISTICS

M.COM PART 2, Question Bank, SUPPLY CHAIN MANAGEMENT LOGISTICS

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  M.COM SEMESTER – IV (CBCS) BUSINESS STUDIES (MANAGEMENT) SUPPLY CHAIN MANAGEMENT LOGISTICS   Q.10 Write a brief note on forms of supply chain networks. ANS: Supply chain networks exhibit various models that aid in understanding the various optimization methods used for studying uncertainty and scenario modelling. As shown below, there are six distinct supply chain network models.           1. Producer Storage with Direct Shipping: In this model, goods are transported directly from the manufacturer’s starting point to the end customer’s destination point, bypassing the retailer. The retailer accepts the order and initiates the delivery request. This is also known as drop-shipping because the product is delivered directly from the manufacturer’s location to the customer’s location. 2. Producer storage with direct shipping and in-transit merge (crossdocking): It is like pure drop-shipping or moving, but the difference is that pieces of the order come from various locations and are merged into one so that the customer receives a single delivery. 3. Distributor storage with package carrier delivery: When inventory is not owned by the manufacturers at the plants, but rather by merchants/retailers in intermediate warehouses, package carriers are used to ship goods from the intermediate location to the final customer. 4. Distributor storage with last-mile delivery: When a merchant/retailer delivers the goods ordered by the customer to the customer’s home rather than using a package carrier, this type occurs. 5. Producer or distributor storage with customer pickup: The inventory is stored at the manufacturer’s or producer’s warehouse, but customers place their orders online or by phone and then come to pick-up points designated for collecting their orders. 6. Retail Storage with Customer Pickup: This is mostly used when inventory is kept locally at retail stores; customers walk into the store or order something online or over the phone and pick it up at the store. Customers’ preferences are used to make distribution system decisions. This, in turn, affects the demand for the product or products as well as the cost of the distribution arrangement.     If you want exam most important question bank pdf then you have to pay per subject 100/- rupees only .  Contact 8652719712 / 8779537141              Telegram Group Mumbai Univeersity :- https://t.me/mumbaiuniversityidol Suraj Patel Education :- https://t.me/surajpateleducation   F.Y.J.C EXAM :- https://t.me/FYJCexam   S.Y.J.C EXAM :- https://t.me/SYJCexam   F.Y EXAM :- https://t.me/fyexam     S.Y EXAM :- https://t.me/syexam     T.Y EXAM :- https://t.me/tyexam     M.Com Part 1 EXAM :- https://t.me/McomPart1Exam   M.Com Part 2 EXAM :- https://t.me/McomPart2Exam M.A EXAM :- https://t.me/mastudentsexam  YouTube Channel  https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw     supply chain management logistics m.com sem 4 question paper   supply chain management logistics m.com sem 4 question with answer m.com semester 4 subjects of supply chain management logistics m.com semester 4 mumbai university supply chain management logistics important question IDOL mumbai university m.com semester 4 supply chain management logistics important question IDOL mumbai university supply chain management logistics important question business management supply chain management m.com sem 4 question paper M.com Semester 4 business management supply chain management Important idol mumbai university M.com Semester 4 business management supply chain management Important business management M.com supply chain management Important question supply chain management mcq questions and answers pdf downloa SUPPLY CHAIN MANAGEMENT AND LOGISTICS M.COM Business Management Supply Chain Management Mcom Master Of Commerce Semester 4 Question Papers M.Com. Semester Pattern Study Material

M.COM PART 2, Question Bank, SUPPLY CHAIN MANAGEMENT LOGISTICS

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    M.COM SEMESTER – IV (CBCS) BUSINESS STUDIES (MANAGEMENT) SUPPLY CHAIN MANAGEMENT LOGISTICS   Q.7 Explain the factors for selecting a suitable channel in a business scenario. ANS: Various constituents of the marketing mix like promotion etc., are closely related to the channels of distribution. A wrong choice of distribution channel ultimately increases the price of the product. Deciding a proper channel of distribution is not an easy task. It involves a careful study and consideration of many factors stated below. Some of the factors to consider while selecting a channel of distribution are: (1) The Nature of the Product (2) The Nature of the market (3) The Nature of Middlemen (4) The nature and size of the manufacturing unit (5) Government Regulations and Policies and (6) Competition. 1) The Nature of the Product: These factors include physical characteristics of a product and their impact on the selection of a particular channel of distribution. Various factors under this category are: (a) Perishability: Products which are perishable in nature are distributed by employing a shorter channel of distribution so that goods could be delivered to the consumers without delay. Delay in distribution of these products will deteriorate their quality. (b) Size and weight of product: Bulky and heavy products like coal and food grains etc. are directly distributed to the users involving heavy transportation costs. In order to minimise these costs a short and direct distribution channel is suitable. (c) Products with lesser: Unit value and high turnover are distributed by employing longer channels of distribution. Household products like utensils, cloth, cosmetics etc. take a longer time to reach the consumers. On the other hand, products like jewellery having high product value are directly sold to the consumers by the jewellers. (d) Standardisation: Products of standard size and quality usually take longer by adopting longer channels of distribution. For example, machine tools and automobile products which are of standard size reach the consumer through the wholesalers and retailers. Un-standardised articles take less time and pass-through shorter channels of distribution. (e) Technical Nature of Products: Industrial products which are highly technical in nature are usually distributed directly to the industrial users and take lesser time and adopt shorter channels of distribution. In this case after sales service and technical advice is provided by the manufacturer to the consumers. On the other hand, consumer products of technical nature are usually sold through wholesalers and retailers. In this manner a longer channel of distribution is employed for their sales. After sales services are provided by the wholesalers and retailers. Examples of such products are televisions, scooters, refrigerators, etc. (f) Product Lines: A manufacturer producing different products in the same lines sells directly or through retailers and less time is consumed in their distribution. For example, in automobile rubber products this practice is followed. On the other hand, a manufacturer dealing only in one item appoints sole selling agents, wholesalers and retailers for selling the product. For example, in the case of ‘Vanaspati Ghee’, a longer distribution channel is undertaken. 2) The Nature of the market: This is another factor influencing the choice of a proper channel of distribution. In the words of Lazo and Corbin ―Marketing managements select channels on the basis of customer wants-how, where and under what circumstances. The number of buyers of the product affects the choice of a f channel of distribution. Following factors are considered in this regard: (a) Consumer of industrial market: In the case of industrial markets, the number of buyers is less; a shorter channel of distribution can be adopted. These buyers usually directly purchase from the manufacturers. Marketing intermediaries are not needed in this case. But in the case of consumer markets, where there are a large number of buyers, a longer channel of distribution is employed. Distribution process cannot be effectively carried out without the services of wholesalers and retailers. (b) Number of prospective buyers: If the number of buyers is likely to be more, the distribution channel will be long. On the other hand, if the number of consumers is expected to be less, the manufacturer can effectively sell directly to the consumers by appointing salesmen. (c) Size of the order: If the size of the order placed by the customers is big, direct selling can be undertaken by the manufacturer as in the case of industrial goods. But where the size of the order is small, middlemen are appointed to distribute the products. (d) Geographic concentration of market: Where the customers are concentrated at one particular place or market, the distribution channel will be short and the manufacturer can directly supply the goods in that area by opening his own shops or sales depot. In cases where buyers are widely scattered, it is very difficult for the manufacturer to establish a direct link with the consumers, services of wholesalers and retailers will be used. (e) Buying habits of customers: This includes tastes, preferences, likes and dislikes of customers. Customers also expect certain services like credit and personal attention and after sales services etc. All these factors greatly influence the choice of distribution channel. 3) The Nature of Middlemen: Marketing intermediaries are vital components in the distribution of goods. They greatly influence the marketing of goods.  Important factors relating to the selection of a particular middleman are explained as under: (a) Cost of distribution of goods: Cost of distribution through middlemen is one of the main considerations to be taken into account by the manufacturer. Higher cost of distribution will result in the increased cost of product. The manufacturer should select the most economical distribution channel. In finalising the channel of distribution, services provided by the intermediaries must be kept in mind. It may be pointed out that the manufacturer can select an expensive marketing intermediary because that may ensure various marketing services which cannot be offered by others. (b) Availability of desired middlemen: Sometimes desired middlemen may not be available for the distribution of goods. They may be busy dealing with competitive

M.COM PART 2, Question Bank, SUPPLY CHAIN MANAGEMENT LOGISTICS

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   M.COM SEMESTER – IV (CBCS) BUSINESS STUDIES (MANAGEMENT) SUPPLY CHAIN MANAGEMENT LOGISTICS   Q.5 Explain in detail forecasting in SCM and the need for the same in business. ANS: Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. · For example, a company might estimate their revenue in the next year, then compare it against the actual results. Prediction is a similar, but more general term. · Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or Supply Chain Management and Logistics alternatively to less formal judgmental methods or the process of prediction and resolution itself. · Usage can differ between areas of application: for example, in hydrology the terms “forecast” and “forecasting” are sometimes reserved for estimates of values at certain specific future times, while the term “prediction” is used for more general estimates, such as the number of times floods will occur over a long period. · Risk and uncertainty are central to forecasting and prediction; it is generally considered good practice to indicate the degree of uncertainty attaching to forecasts. · In any case, the data must be up to date in order for the forecast to be as accurate as possible. In some cases the data used to predict the variable of interest is itself forecast. · Data-driven forecasting provides more accurate predictions, but qualitative data also plays a significant role in supply chain forecasting and has proven to be just as effective. · In many cases, ecommerce brands use a combination of both quantitative and qualitative forecasting methods to get as close to accurate predictions as possible. · However, qualitative forecasting methods come in handy when there is a lack of data. Oftentimes, new businesses or innovative products rely on qualitative forecasting methods to make predictions. Here are the most common qualitative forecasting methods used in ecommerce supply chain forecasting. 1. Market research: Market research is a best practice for any business, whether it’s selling a product or even a service. For ecommerce sales, market research can be used to predict supply and demand, and help determine whether or not there is strong demand for a product that will support profit goals. Market research can be executed internally by marketing or sales experts, or businesses can hire a third-party that specialize in market research. There are different tactics used, from developing stakeholder surveys, conducting a thorough competitive analysis, or even interviewing experts in a specific field or industry. 2. Delphi method: The Delphi method consists of market orientation and judgments within a small group of experts or advisors, which is then sorted, grouped, and analyzed by third-party experts. The opinions of the experts are gathered individually to avoid the influence of others’ options, which differs from a panel discussion or focus group. The gathering of opinions is outsourced to a third-party, which analyzes the opinions and information shared. Once reviewed closely, the information is then summarized with an emphasis on different patterns or trends before handing the findings over to the business to review. This method has proved effective and dependable for long-term forecasting. 3. Historical analysis: Historical analysis uses the sales history of a product having a parallel relationship with a present product to predict future sales. It can be utilized to predict the market’s response to a new product or product line. For instance, if you sell vacuums, you would look at past performance on your highest selling vacuum models. Then, you would compare whether or not the features for the new vacuum are similar yet offer something new and improved in terms of settings and options. Historical data can also be collected by looking at your competition’s high-selling products and comparing similar products in your line to determine demand when possible. 4. Panel consensus: The panel consensus method brings together members of a business across all levels to establish its forecast. It is an open process that allows all the participants to express their opinions and predictions based on what they know. For example, you could work with your ecommerce customer service team to identify which products are being returned most often and why, or work with your sales team to get insights on what customers are asking for.     If you want exam most important question bank pdf then you have to pay per subject 100/- rupees only .  Contact 8652719712 / 8779537141              Telegram Group Mumbai Univeersity :- https://t.me/mumbaiuniversityidol Suraj Patel Education :- https://t.me/surajpateleducation   F.Y.J.C EXAM :- https://t.me/FYJCexam   S.Y.J.C EXAM :- https://t.me/SYJCexam   F.Y EXAM :- https://t.me/fyexam     S.Y EXAM :- https://t.me/syexam     T.Y EXAM :- https://t.me/tyexam     M.Com Part 1 EXAM :- https://t.me/McomPart1Exam   M.Com Part 2 EXAM :- https://t.me/McomPart2Exam M.A EXAM :- https://t.me/mastudentsexam  YouTube Channel  https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw supply chain management logistics m.com sem 4 question paper supply chain management logistics m.com sem 4 question with answer m.com semester 4 subjects of supply chain management logistics m.com semester 4 mumbai university supply chain management logistics important question IDOL mumbai university m.com semester 4 supply chain management logistics important question IDOL mumbai university supply chain management logistics important question business management supply chain management m.com sem 4 question paper M.com Semester 4 business management supply chain management Important idol mumbai university M.com Semester 4 business management supply chain management Important business management M.com supply chain management Important question supply chain management mcq questions and answers pdf downloa SUPPLY CHAIN MANAGEMENT AND LOGISTICS M.COM Business Management Supply Chain Management Mcom Master Of Commerce Semester 4 Question Papers M.Com. 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M.COM PART 2, Question Bank, SUPPLY CHAIN MANAGEMENT LOGISTICS

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  M.COM SEMESTER – IV (CBCS) BUSINESS STUDIES (MANAGEMENT) SUPPLY CHAIN MANAGEMENT LOGISTICS Q.4 Explain the concept of organizing in SCM in detail. ANS: Organizing includes developing a structure for the people, positions, departments, and activities within the firm. Managers can arrange the structural elements of the firm to maximize the flow of information and the efficiency of work processes. They accomplish this by doing the following: ● Dividing up tasks (division of labor) ● Grouping jobs and employees (departmentalization) ● Assigning authority and responsibilities (delegation) A manager performs organizing function with the help of following steps: 1. Identification of activities: All the activities which have to be performed in a concern have to be identified first. For example, preparation of accounts, making sales, record keeping, quality control, inventory control, etc. All these activities have to be grouped and classified into units. 2. Departmentally organizing the activities: In this step, the manager tries to combine and group similar and related activities into units or departments. This organization of dividing the whole concern into independent units and departments is called departmentation. 3. Classifying the authority: Once the departments are made, the manager likes to classify the powers and its extent to the managers. This activity of giving a rank in order to the managerial positions is called hierarchy. The top management is into formulation of policies, the middle level management into departmental supervision and lower level management into supervision of foremen. The clarification of authority helps in bringing efficiency in the running of a concern. This helps in achieving efficiency in the running of a concern. This helps in avoiding wastage of time, money, effort, in avoidance of duplication or overlapping of efforts and this helps in bringing smoothness in a concern‘s working. 4. Coordination between authority and responsibility: Relationships are established among various groups to enable smooth interaction toward the achievement of the organizational goal. Each individual is made aware of his authority and he/she knows whom they have to take orders from and to whom they are accountable and to whom they have to report. A clear organizational structure is drawn and all the employees are made aware of it. 5. Effective administration: The organization structure is helpful in defining the jobs positions. The roles to be performed by different managers are clarified. Specialization is achieved through division of work. This all leads to efficient and effective administration. 6. Growth and diversification: A company‘s growth is totally dependent on how efficiently and smoothly a concern works. Efficiency can be brought about by clarifying the role positions to the managers, coordination between authority and responsibility and concentrating on specialization. In addition to this, a company can diversify if its potential grows. This is possible only when the organization structure is well- defined. This is possible through a set of formal structures. 7. Sense of security: Organizational structure clarifies the job positions. The roles assigned to every manager are clear. Coordination is possible. Therefore, clarity of powers helps automatically in increasing mental satisfaction and thereby a sense of security in a concern. This is very important for job- satisfaction. 8. Scope for new changes: Where the roles and activities to be performed are clear and every person gets independence in his working, this provides enough space to a manager to develop his talents and flourish his knowledge. A manager gets ready for taking independent decisions which can be a road or path to adoption of new techniques of production. This scope for bringing new changes into the running of an enterprise is possible only through a set of organizational structure. If you want exam most important question bank pdf then you have to pay per subject 100/- rupees only .    Contact 8652719712 / 8779537141              Telegram Group Mumbai Univeersity :- https://t.me/mumbaiuniversityidol Suraj Patel Education :- https://t.me/surajpateleducation   F.Y.J.C EXAM :- https://t.me/FYJCexam   S.Y.J.C EXAM :- https://t.me/SYJCexam   F.Y EXAM :- https://t.me/fyexam     S.Y EXAM :- https://t.me/syexam     T.Y EXAM :- https://t.me/tyexam     M.Com Part 1 EXAM :- https://t.me/McomPart1Exam   M.Com Part 2 EXAM :- https://t.me/McomPart2Exam M.A EXAM :- https://t.me/mastudentsexam  YouTube Channel  https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw         supply chain management logistics m.com sem 4 question paper       supply chain management logistics m.com sem 4 question with answer m.com semester 4 subjects of supply chain management logistics m.com semester 4 mumbai university supply chain management logistics important question IDOL mumbai university m.com semester 4 supply chain management logistics important question IDOL mumbai university supply chain management logistics important question business management supply chain management m.com sem 4 question paper M.com Semester 4 business management supply chain management Important idol mumbai university M.com Semester 4 business management supply chain management Important business management M.com supply chain management Important question supply chain management mcq questions and answers pdf downloa SUPPLY CHAIN MANAGEMENT AND LOGISTICS M.COM Business Management Supply Chain Management Mcom Master Of Commerce Semester 4 Question Papers M.Com. 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M.COM PART 2, Question Bank, SUPPLY CHAIN MANAGEMENT LOGISTICS

Supply chain management logistics m.com sem 4 question with answer | M.Com. Semester Pattern Study Material

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 M.COM SEMESTER – IV (CBCS) BUSINESS STUDIES (MANAGEMENT) SUPPLY CHAIN MANAGEMENT LOGISTICS Q.2 Explain the principles of SCM in detail. ANS: The concept of the chain is important because each link is connected in a specific direction and order, and the next link cannot be reached without going through the previous one. Each link adds time and costs, and may involve labour, parts, and transportation. Every product a business carries may have its own supply chain, though they may use certain suppliers for multiple products.       1. Adapt Supply Chain to Customer’s Needs: The businesses and supply chain professionals understand customer‘s needs. Customers are divided into different groups called ‗segments‘ in order to understand them better. On the basis of sales volume or profitability, the primitive way to segment customer is ABC analysis. It can also be done by product, trade channel and industry. Anticipating the customer‘s needs is also very important. Once the needs of the customers are anticipated, the supply chain should be aligned to cater to the needs. 2. Customize Logistics Network: After the segmentation of the customers based on different requirements, SCM managers have to tailor logistics networks to serve different segments. The SCM manager has to prioritize the deliveries and make suitable provisions to quickly distribute those goods that are marked as urgent. 3. Align Demand Planning Across Supply Chain: Supply chain professionals are trained to share data with trading partners in order to avoid the unnecessary stock. The demand data must be used wisely by the SCM managers. 4. Differentiate Products Close to Customers: Standardization and differentiation are two completely opposite things. Some cosmetic companies manufacture only 1 SKU that can be sold throughout Asia instead of 1 SKU per country. Due to the economy of the sales, standardization can drastically bring down the cost. 5. Outsources Strategically: Though outsourcing is all the rage, the managers must outsource strategically. The core expertise should not be outsourced ever. This principle stands the test of time. 6. Develop IT that Support Multi-Level Decision Making: The IT projects should not be done in isolation and before IT projects, the business process reengineering should be done. This provides a proper understanding of process insufficiencies and helps to determine the kind of innovation needed. 7. Adapt Both Services and Financial Metrics: The activity-based costing (ABC) is applied to determine the customer‘s profitability. It is even better to exploit Time Driven Activity Based Costing in order to understand changes in activities, process, product and customers. If you want exam most important question bank pdf then you have to pay per subject 100/- rupees only .  Contact 8652719712 / 8779537141              Telegram Group Mumbai Univeersity :- https://t.me/mumbaiuniversityidol Suraj Patel Education :- https://t.me/surajpateleducation   F.Y.J.C EXAM :- https://t.me/FYJCexam   S.Y.J.C EXAM :- https://t.me/SYJCexam   F.Y EXAM :- https://t.me/fyexam     S.Y EXAM :- https://t.me/syexam     T.Y EXAM :- https://t.me/tyexam     M.Com Part 1 EXAM :- https://t.me/McomPart1Exam   M.Com Part 2 EXAM :- https://t.me/McomPart2Exam M.A EXAM :- https://t.me/mastudentsexam  YouTube Channel  https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw         supply chain management logistics m.com sem 4 question paper   supply chain management logistics m.com sem 4 question with answer m.com semester 4 subjects of supply chain management logistics m.com semester 4 mumbai university supply chain management logistics important question IDOL mumbai university m.com semester 4 supply chain management logistics important question IDOL mumbai university supply chain management logistics important question business management supply chain management m.com sem 4 question paper M.com Semester 4 business management supply chain management Important idol mumbai university M.com Semester 4 business management supply chain management Important business management M.com supply chain management Important question supply chain management mcq questions and answers pdf downloa SUPPLY CHAIN MANAGEMENT AND LOGISTICS M.COM Business Management Supply Chain Management Mcom Master Of Commerce Semester 4 Question Papers M.Com. Semester Pattern Study Material

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