MKTG 372 Exam 1
One of the "package of features" that make up a service is: A. Appearance B. Facilitating goods C. Packaging D. Cost E. Implied use
B- facilitating goods
The goods-services continuum consists of which set of the following categories? A. No goods, some goods, even mix, some service, no service B. Pure goods, core goods, core services, pure services C. No service, some service, good service, excellent service D. Self-service, help desk service, face-to-face service, service-with-a-smile E. None of these
B- pure goods, core goods, core services, pure services
One reason for studying operations and supply chain management (OSCM) is which of the following? A. OSCM is essential for understanding organizational behavior. B. Most business graduates do OSCM work regardless of their job title. C. All managers should understand the basic principles that guide the design of transformation processes. D. OSCM is a required course in all business degree programs. E. OSCM is the most rigorous business discipline.
C- all managers should understand the basic principles that guide the design of transformation processes
Which of the following are defined as core goods? A. Chemicals B. Airlines C. Data storage systems D. Hotels E. None of these
C- data storage systems
Which of the following is a measure of operations and supply management efficiency used by Wall Street? A. Dividend payout ratio B. Current ratio C. Receivable turnover D. Earnings per share growth E. Financial leverage
C- receivable turnover
Which of the following are not listed in the text as jobs in OSCM? A. Department store manager B. Project manager C. Hospital administrator D. Data center manager E. Call center manager
D- data center manager
Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street? A. Inventory turnover B. Revenue per employee C. Receivable turnover D. Earnings per share E. Asset turnover
D- earnings per share
Which of the following is not a way that operations and supply processes are categorized? A. Planning B. Return C. Delivery D. Selecting E. Making
D- selecting
Current issues in OSCM do not include: A. Coordinating relationships between organizations B. Making senior management aware that OSCM can be a competitive weapon C. The triple bottom line D. Managing customer touch points E. Increasing global supply chain employment
E- increasing global supply chain employment
Doing something at the lowest possible cost is called: _______________
Efficiency
"Business analytics" involves the analysis of data through a unique combination of linear programming, game theory, and queuing theory to better solve business problems.
False
"Green belt" programs are coordinated public works projects aimed a placing an environmentally friendly zone around major cities.
False
"Supply chain" includes only inbound freight and inventory.
False
A bank branch manager position is not an OSCM-type of job.
False
A supply chain manager is an OSCM job while a purchasing manager is not.
False
Activity-system maps depict the geographic reach of a company's business strategies.
False
Although planning involves determining how the various supply chain processes (sourcing, making, delivering, and returning) will be met, planning itself is not considered a supply chain process.
False
An operations strategy must resist change because of the long-term nature of equipment and personnel investments.
False
An order winner is a set of screening criteria that permits a firm's products to be considered as possible candidates for purchase.
False
Automobiles and appliances are classified as "pure goods."
False
By following a straddling strategy, firms can broaden their capabilities and effectively compete with more focused firms in markets requiring low cost for success.
False
Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had little impact on operations and supply chain management.
False
Delivering is not considered in supply chain analysis when outside carriers are contracted to move products to customers.
False
Efficiency means doing the right things to create the most value for the company.
False
Infrastructure decisions within operations strategy include the selection of the appropriate technology, the role of inventory, and the location of facilities.
False
Internet technology has made the sharing of reliable real-time information expensive.
False
Investors pay close attention to efficiency and productivity measures like net income per employee because they are interested in how well the firm manages its workforce relations.
False
It is critical that a sustainable strategy meet the needs of shareholders and employees. It is also highly desirable that it preserves the environment.
False
OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service.
False
One of the competitive dimensions that form the competitive position of a company when planning its strategies is making the best trade-off.
False
Operations and supply chain processes can be conveniently categorized as planning, sourcing, making, and delivering.
False
Operations and supply chain strategy are not important issues to investors who tend to focus on growth, dividends, and earnings per share.
False
Raising senior management awareness of OSCM as a competitive weapon is not an important issue.
False
Returning involves processes for receiving worn-out, defective, and excess products back from customers but does not involve support for customers who have problems with the product.
False
SSME is an acronym standing for "service sector management economics."
False
Service innovations can be patented.
False
Services are homogeneous.
False
Supply networks cannot be constructed for every product or service.
False
Sustainability is the ability to maintain profits in a system.
False
The approach that advocates making revolutionary changes as opposed to evolutionary changes is called "creation theory."
False
The mathematical results of Business Analytics are used to automate decision making and eliminate the decision maker.
False
The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio is called flexibility.
False
The supply chain processes mentioned in the textbook are planning, sourcing, delivering, and returning.
False
The supply network as can be thought of as a pipeline through which cash, material and information flows.
False
The term "electronic commerce" refers to the buying and selling of electronic products and devices.
False
Use of systems like point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has made it more difficult to understand what all the information is saying.
False
Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.
False
"Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products desired by customers.
True
"Product-service bundling" refers to a company building service activities into its product offerings for its customers.
True
"Supply chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm.
True
A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, we could refer to this doctor as being efficient but not effective.
True
A major aspect of planning involves developing a set of metrics to monitor the supply chain.
True
A process can be effective without being efficient.
True
A worker can be efficient without being effective.
True
Activity-system maps are useful in understanding how well a system of activities fits the overall company's strategy.
True
Activity-system maps show how a company's strategy is delivered through a set of tailored activities.
True
All managers should understand the basic principles that guide the design of transformation processes.
True
An operations and supply chain strategy must be integrated with the organization's corporate strategy.
True
An order qualifier is a set of screening criteria that permits a firm's products to be considered as possible candidates for purchase.
True
An order winner is a set of criteria that differentiates the products or services of one firm from another.
True
Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals.
True
Business process reengineering, which seeks revolutionary change, is contrasted with total quality management which commonly advocates incremental change.
True
Central to the concept of operations strategy are the notions of operations focus and trade-offs.
True
Core service providers integrate tangible goods into their product.
True
During a recession, efficient firms often have an opportunity to increase market share while maintaining profitability.
True
Effectiveness means doing the right things to create the most value for the company.
True
Green and black belt programs teach six-sigma quality tools to managers at many corporations.
True
In contrast to careers in finance and marketing, careers in OSCM involve hands-on involvement with people and processes.
True
Infrastructure decisions within operations strategy include the selection of the logic associated with the planning and control systems
True
Just-in-time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese.
True
Lean manufacturing refers to just in time production coupled with total quality control.
True
OSCM is a functional field of business with clear line management responsibilities.
True
One of the competitive dimensions that form the competitive position of a company when planning its strategies is cost.
True
One of the competitive dimensions that form the competitive position of a company when planning its strategies is delivery speed.
True
Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services.
True
Operations and supply management changes constantly because of the dynamic nature of competing in global business and the constant evolution of information technology
True
Operations and supply strategy can be viewed as part of a planning process that coordinates operational goals with those of the larger organization.
True
Planning is where a firm must determine how anticipated demand will be met with available resources.
True
Service science management and engineering aims to apply the latest concepts in information technology to continue to improve service productivity of technology-based organizations.
True
Services are defined and evaluated as a package of features that affect the five senses
True
Services are intangible processes that cannot be weighed or measured.
True
The "triple bottom line" relates to the economic, employee, and environmental impact of a firm's strategy.
True
The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology.
True
The approach that advocates making revolutionary changes as opposed to evolutionary changes is called "business process reengineering."
True
The central idea of supply chain management is to apply a total system approach to managing the flow of information, materials, and services from raw material suppliers through factories and warehouses to the end customer.
True
The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services, and technologies into its current portfolio it is called straddling.
True
The term "electronic commerce" refers to the use of the Internet as an essential element of business activity.
True
The term "value" refers to the relationship between quality and the price paid by the consumer.
True
Processes that are used to transform resources into products are called _______________.
Operations
What is a major industry and university program aiming to apply the latest concepts in information technology to continue to improve service productivity of technology-based organizations called? _____________________________________________
Service science management and engineering (SSME)
What is a total systems approach to managing the flow of information, materials, and services from raw material suppliers through factories and warehouses to the end customer called? ________________________________
Supply chain management
The ability to maintain balance in a system is referred to as ______________.
Sustainability
The use of the Internet as an essential element of business activity is called what? ______________________________
electronic commerce
Name five common measures of operations and supply management efficiency used by Wall Street. 1. _____________________ 2. _____________________ 3. _____________________ 4. _____________________ 5. _____________________
income per employee; revenue per employee; inventory turnover; asset turnover; receivable turnover
What are the five categories of supply chain processes? 1. ___________________ 2. ___________________ 3. ___________________ 4. ___________________ 5. ___________________
planning, sourcing, making, delivering, returning
List five OSCM job titles. 1. ___________________ 2. ___________________ 3. ___________________ 4. ___________________ 5. ___________________
plant manager, hospital administrator, branch manager, department store manager, call center manager, etc.
Value is the ratio of __________________________.
quality to price paid
A pipeline through which material and information flows is a conception of a ______________________.
supply network
Which of the following is not a characteristic that distinguishes services from goods? A. Service jobs are unskilled. B. A service is intangible. C. Services are perishable. D. Services are heterogeneous. E. None of these
A- service jobs are unskilled
What are four current issues in operations and supply management that are discussed in the textbook? 1. ___________________ 2. ___________________ 3. ___________________ 4. ___________________
1. Coordinating relationships between mutually supportive but separate organizations; 2. Optimizing global supplier, production, and distribution networks; 3. Managing customer touch points; 4. Raising senior management awareness of operations as a significant competitive weapon; 5. Sustainability and the triple bottom line
