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