Week 4 Questions
Pg. 249 1.) The difference between supply chain management and demand management is the area of focus for the business. Supply Chain management, manages the life cycle of the product production from supplier to customer. In other words from purchasing , through production and to logistics.In Demand management, the company manages the customer needs to design, price, market, distribute and determine the amount of products to produce. This allows the company to create or mange demand of set products.

2.) Big Mac - people need food - food sourced - transport - food production - transport - restaurant stocked - food prep and cook - food delivery to customer Gasoline - machines require gasoline - oil sourced - transport - oil stored - transport - oil arrives at stations for storage - oil disbursed as customers come Auto Repair - car breaks - mechanic sourced - transport - mechanic provides repair - customer comes back to get auto
Text book - information needed - textbook written - published - printed - distributed - sold – read 3.) Supply chain management is important to study because it involves the management of processes that not only is internal processes but also requires the integration and coordination of materials moving in and out of the supply chain to meet customer needs.

4.) Lead time plays an important part of the supply chain performance. Lead time is the time it takes to deliver a product from the time the order is placed. If this is done in an appropriate amount of time, it leads to consumer’s satisfaction. If it takes longer than necessary, it will cause consumers to be dissatisfied which will lead to a loss in profits. “Forecasting is the art and science of predicting future events” (Schroeder, et al., 2013, p. 251). Forecasting is not exact in its predictions. There is always an error. This