SCM Test 1

Maintaining the appropriate fit among the four critical elements—customers, product factors, operational CSFs or capabilities, and core competencies—is ______.

Part of developing and refining an operations strategy

Managing operations within each company in a supply chain requires _______ both long-term and short-term tasks.

Planning, organizing, and executing

The two subcategories of quantitative methods are ______.

Time series analysis and causal (associative) methods

Product scheduling and worker assignments are examples of forecasted activities in ______ decision-making.

operational

Contracting with a third party or an external company to manufacture a good or deliver a service is known as ______

outsourcing

Both operations management and supply chain management share the same goal of ______.

producing and delivering goods and services that create value for customers

a functional strategy is ______

the same as the department level strategy

Which of the following statements best describes the ultimate goal of operations and supply chain strategies?

to produce and deliver products or services that delight customers

Goods are often capital intensive, as opposed to services, which are often labor intensive.

True

Like manufacturing companies, service companies also compete based on the core competencies of price, quality, time, flexibility and innovation.

True

a(n) ________ strategy answers the questions of what industries and markets the organization should enter and compete in

corporate

Sustainability in the context of creating environmental value refers to ______.

ensuring that current operations do not deplete resources now and for the future

The smoothing constant can take a value between______

0 to 1

Which of the following statements about a supply chain is true?

A supply chain includes all organizations that contribute to the development, manufacture, and shipping of products to a consumer.

A supply chain is often called ______.

A value chain

Unlike its operations strategy, a firm's supply chain strategy does not need to be aligned with its corporate strategy.

False

When the smoothing constant (α) is set to 1, then exponential smoothing is equivalent to ______.

naive approach

______ is the average of the sum of the absolute differences between the actual and forecasted demand values.

Mean absolute deviation (MAD)

Which of the following is most likely to be a core competency for a company

Ability to innovate

Which of the following is an internal interface with the operations function?

Accounting

Storage facilities can only be on the outbound side of a supply chain.

False

Suppliers are the ______ portion of an organization's supply chain.

Inbound

The performance of an operations strategy is mainly judged by how well ______.

It supports the firms corporate and business unit strategies

Increased retail sales in December and peak demand for snow shovels during winter are examples of ______

Seasonal variations

Which of the following statements is FALSE about good forecasts?

The costs of preparing the forecasts should outweigh its benefits

Exponential smoothing and weighted moving average are examples of ______.

Time series analysis

Labor productivity _______ such as ______ in the computation of the productivity measures

a single input, labor hours

The scope of the operations function _____

applies both within and outside the firm