Yes. You publish to SCORM and tick the zip option. Have you made sure that you have correctly configured your SCORM settings before publishing and zipping?
In Moodle you also upload the SCORM zip file and Moodle will unzip it into a folder on the server ready to play. Moodle looks for the imsmanifest.xml file at the root level of the zipped content. If it finds it there, then it should play OK.
