1. There are many definitions for supply chain management. a. Define supply chain management in your own words. b. What is the goal of supply chain management?

2. Explain the concept of 'value-enhancing benefits' by giving THREE examples of benefits that may be realized by a firm that successfully manages its supply chain.

3. Briefly explain how technology has impacted supply chain management. Give three examples.

4. List three concepts used by supply chain managers in an attempt to make a firm more flexible and responsive to customers' changing needs

5. Discuss the differences between supply chain partnerships of the past and those that have developed today.

6. List the four elements of supply chain management and provide a brief explanation of each of the four elements. What types of failures might each of those elements create within the supply chain? Why might those results be linked to errors in a particular element?

7. Explain the bullwhip effect? What can be done to reduce the bullwhip effect? Give an example of how the bullwhip effect results in excess costs in the supply chain.