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How to Pass study.com Business 315: Logistics & Supply Chain Management Final Proctored Exam

So boys and girls, buckle up, it’s time to enter the world of supply chains, where the trick of moving products from one place to another occurs. If you are here then it means that you are preparing to face the Study.com Business 315: Logistics & Supply Chain Management course. From beginning learners to the ones returning to logistics, this course will provide the basic knowledge of supply chains and their operation as well as their significance and management.  This course takes you through the historical backgrounds of supply chains, the minute details of logistics, and the tactical factors behind the function of supply chain management. Not only goods are being transported, but to where, how, and if it is to everyone’s benefit to make that transport happen in its most effective and environmentally friendly manner possible. Ready to dive in? Here is a breakdown of what you will need to know and some tips that would help you pass that final proctored exam. — What You’ll Learn in Business 315📖 Embarking on the Study.com Business 315: Logistics & Supply Chain Management course is like getting a glimpse of an accurately managed maze of business aspects. The following are the topics that are being covered in this course; it’s important to realize that each of these topics is critical for grasping the complete supply chain management process from initiation to completion. Therefore, one may wonder what you are going to immerse yourself in.  First, the History of Operations & Supply Chain Management will be introduced. Clearly, this is not just an ordinary timeline; it is a way of grasping significant inventions that heralded change in the field. For instance, Henry Ford in the automobile industry introduced the assembly line ways which revolutionized the general ways of production and was the key reason why the costs of production were slashed. You will also get to know about the evolution process of ocean shipping containers by Malcolm McLean in the 1950s, this discovery enabled the standardization of international trade shipping making the process more efficient. EDI which started earlier in the 1960s could be considered as the initial stage of supply chain management with the help of computer technology and aiming at the improvement of communication and data exchange between businesses.  Subsequently, you are going to come across the Decision-Making Process in Supply Chain Management. This section is very important because the process by which managers make key managerial decisions affecting the supply chain network is described. You will get to know about tools of decision making including a decision-making tree, pay-back analysis, and simulations which assist us in valuing many prospective courses of action and selecting the most advisable one. As for theoretical knowledge, the concepts of Six Sigma intended to minimize flaws and increase the quality of outcomes are also examined in great detail. The knowledge of these ideas is crucial since they are frequently included in the final exam.  You will also be introduced to Quality in Operations & Supply Chains. This entails the assessment of the quality of products and services, comprehending total quality management, and learning about the key movable items such as W. Edwards Deming, Joseph Juran, and Philip Crosby. Key principles include : Customer focus Continuous improvement Employee involvement As you progress, you’ll explore International Supply Chain Procurement & Distribution. This section will expose you to the complexities of global supply chains, procurement processes, and the impact of technology on outsourcing and insourcing. You’ll learn about: Reverse auctions: Suppliers compete to offer the lowest price. Vendor-managed inventory: Streamlines operations but requires robust communication. Distribution outsourcing: Pros and cons of using third-party logistics providers. The course also tackles Inventory Management, where you’ll understand various inventory systems, the impact of inventory decisions on the supply chain, and the integration of supply chain technologies. You’ll study: Economic order quantity (EOQ) Continuous and periodic review systems Inventory valuation methods: FIFO, LIFO, and weighted average. Lastly, the performance measurement and analysis of supply chains is delivered as the final course. Here, and here only, you will be introduced to such indicators as KPI, variability of the processes, ways of inventory valuation, and PIV. It is crucial to understand what performance indicates and how it might be measured and analyzed to be able to identify the deficiencies and make proper decisions concerning the enhancement of supply chain performance. Once completed in this course, you’ll be adequately armed with knowledge in logistics and supply chain management to overcome any existing or future issues therein. Ready to dive in? Let’s move on to a week-by-week study plan to ensure you ace this course! Click here for exam support Weekly Study Strategies for Business 315 📝 To support your success in Study.com Business 315: Logistics & Supply Chain Management, below is the weekly guide to the course. If you follow this guide the final proctored exam will not pose a major challenge to you. Week 1: Introduction to Supply Chain Management Topics: History of Operations & Supply Chain Management, Benefits & Best Practices, Supply Chain Integration Tasks: Watch video lessons for Chapter 1. Take notes on key innovations like Henry Ford’s assembly line. Complete quizzes to reinforce your understanding. External Resource: YouTube Video on Supply Chain Basics Week 2: Decision-Making Process of Supply Chain Management Topics: Decision Making for Managers, Strategic Decisions, Quantitative Decision-Making Tools Tasks: Watch video lessons for Chapter 2. Practice using decision trees and payback analysis. Complete the chapter quizzes. External Resource: Quizlet Flashcards on Decision-Making Tools Week 3: Quality in Operations & Supply Chains Topics: Product Quality, Service Quality Dimensions, Total Quality Management Tasks: Watch video lessons for Chapter 3. Learn about TQM principles and key contributors like Deming, Juran, and Crosby. Complete quizzes and review feedback. External Resource: YouTube Playlist on Total Quality Management Week 4: Overview of Supply Chain Strategy & Design Topics: Supply Chain Management Goals, Managing Uncertainty, Risk Pooling Tasks: Watch video lessons for Chapter 4. Understand the bullwhip effect and strategies to manage it.