supply chain
Synchronize all other (non-bottleneck) activities in the process to the bottleneck, ensuring that they are aligned with and support the bottleneck's needs. This describes which of the five focusing steps of Theory of Constraints?
Subordinate
Which of the following matches the appropriate customer strategy with the customer's strategic importance?
"B" Customer; Satisfaction Strategy
At Max & Erma's, loyal customers were worth how much profit over a lifetime?
$25,000
What percentage of cargo to and from the United States does the panama canal handle?
70%
Services account for about what percent of the American economy?
80%
Whose job is it to innovate—that is, to bring the new products to market that customers want to buy?
All of the above; that is, everyone is responsible for innovation
_________________________ touch points focus on the purchase decision. _________________________ touch points deal with the actual use of a product or service?
Acclimated; Utilitarian
What are some advantages to concurrent engineering?
All of the above
Which of the following are issues that make services challenging to manage effectively?
All of the above
Which of the following are key steps in creating a Gantt Chart?
All of the above
Which of the following is a characteristic of an indispensable supply chain manager?
All of the above
Which of the following is a reason or rationale for the development of the balanced scorecard concept?
All of the above
Customizing basic models is an example of which process?
Batch Process
In a sequential, functionally oriented product design process what almost always happens when an idea gets tossed from one function to another.
Both A & C
Which of the following is an important mantra that helps explain why effective measurement is so important to supply chain management?
Both A & C
Which of the following are important reasons to involve suppliers early in the NPD process?
Both A and D
Which of the following tools are bricks-and-mortar stores commonly using to improve data capture and customer profiling?
Both b and e
__________________ involves running the numbers to evaluate whether a product's expected sales, growth, and profit justify required investments.
Business case analysis
Which of the following is almost always an order qualifier?
cost
The number of products you can produce on an assembly line in one shift is an example of what?
Capacity
The net present value is the current value of all _______ _______ (current and future) related to the product.
Cash flows
High-leverage innovators (think the NPD process) build ________________ teams so that important decisions can be made __________________.
Cross-functional; collaboratively
Which part of project planning addresses sub-deliverables?
Decompose
What are the four steps of project planning?
Decompose, Delegate, Schedule, Evaluate
Focusing on the loyalty curve, what are the three outcomes that can result from a customer experience?
Delight, Dissatisfaction, and Defection
In process mapping, the following indicates a decision.
Diamond
When productivity growth is good, you need to ________________. When productivity growth is bad, you need to ___________________.
Disseminate the practice elsewhere; Take corrective action
Which of the following best describes a moment of truth (as defined by SAS' Jan Carlson)?
Every touch point between a customer and the company is a mome
Increase the output of the bottleneck. Remove any non-value adding work or interruptions to the bottleneck. This describes which of the five focusing steps of Theory of Constraints?
Exploit
_________ bring a number of customers (usually 4 to 14) together with a moderator to discuss their experiences, needs, and expectations regarding a new product concept.
Focus groups
Based on its innovation strategy, your company might be a Need Seeker, Market Reader, or Technology Driver. Which of the following is the definition of a Need Seeker?
Go straight to customers to generate ideas.
"Beginning," "Middle," and "End" refers to ___?
Inputs, outputs and flows
Which value gap refers to a company's failure to accurately assess what customers really want?
Knowledge Gap
According to the chapter, what is the #1 reason projects fail?
Lack of planning
Which of the following measurement mantras focuses on how you should measure?
Measure twice; cut once
Which of the following are commonly used types of benchmarking?
Non-Competitive, internal and global benchmarking
Which of the following is not an element of an effective NPD process (aka, the cycle of satisfaction)?
None of the above, they are all elements of the NPD process
Which of the following is not part of the Product Life Cycle?
None of the above, they are all part of the Product Life Cycle
Research has shown that if you invest in which of the following activities, you will end up with an attitude of continuous and constant improvement.
Only a and b
An ____________________ gets you into the competitive game, but it seldom convinces a customer to buy your product.
Order Qualifier
Which of the following is not a strategy companies use to reduce manufacturing costs?
Predictive Analytics
Contribution to fixed costs is equal to __________?
Price per unit minus variable costs
What are the two axes on the risk prioritization matrix?
Probability; Impact
Desi DeSimone, previous CEO of 3M said, "The most interesting _______ are the ones that people need but can't articulate that they _______."
Products, need
In the Kimberly Clark example, researchers visited homes and observed parents and their children. Doing this allowed them to come up with a new product that parents with young children needed. What was this product?
Pull-ups
Which of the following is not one of the value gaps that can undermine customer experiences and can damage relationships?
Service Quality Gaps
The balanced scorecard was developed to help companies take a more ______________ and ______________ approach to measurement.
Short-term; Tactical
Companies that understand how their products _____________________ achieve double the ___________________ of their less-in-touch rivals.
Solve customer's problems; shareholder returns
In which step does target-costing take place at the component level?
Step 5: Engage in target costing process
Which of the following approaches to gathering information about customers is quick and relatively easy, but only provides basic, perhaps superficial, insight into customer needs?
Surveys
What is R&D/Engineering's contribution to the New Product Development Team?
Technical expertise needed to translate concepts into product/service designs.
Which of the following is true regarding the reorder point?
The reorder point compares the amount of inventory currently available with the rate of demand.
Which of the following accurately describe a supply chain map?
To read a supply chain map, you start with the focal firm.
How did Toyota outproduce some of the largest carmakers in the world?
Toyota managed processes not functions
Which of the following approaches can help you mitigate the challenges of poor forecasts?
a and c only
Which two costs does the economic order quantity balance?
a and d only
To help articulate and evaluate the value of your work project what 5Ws do you include in your table?
all of the above
Which of the following are benefits of proactive scanning?
e. a, b, and d only
Which of the following is a characteristic of a pet project program?
f. B, C, and D only
Agility, like other value dimensions is primarily the responsibility of operations management.
false
Approximately 15% of new consumer packaged goods reach the threshold of a highly successful launch: $50 million first-year sales.
false
Companies have refined their forecasting techniques to the point that forecasts are almost always right. Big data has solved the forecasting dilemma.
false
Customer contact refers to how often a company reaches out to customers to find out how good their customer-service experience was—i.e., if they were satisfied.
false
Design decisions are easy-to-change in the short term and have an immediate impact on your firm's competitiveness.
false
In facility layout situations, once you achieve an ideal design, your job is done. You can focus on other things—that is, you don't have to worry about reevaluating the efficiency and efficacy of your layout.
false
Post-Implementation Review is not an important part of project closure.
false
SWOT analysis focuses on internal threats and opportunities as well as external strengths and weaknesses. TrueFalse
false
Showrooming involves searching for a product online to compare prices and then going to a physical store to buy it.
false
The primary purpose of a Gantt Chart is to decomposes work into specific deliverables that the project team will focus on.
false
The product adoption life cycle consists of four stages: Innovators, Early Adopters, Late Majority, and laggards.
false
The term hidden plant was coined to describe the fact that 15-40% of a firm's costs are incurred to deliver products within 48 hours.
false
What does a successful businesses do to insure that work is finished as expected?
it defines the workflow of tasks
A work breakdown structure is a deliverable-oriented, hierarchical decomposition of the work to be completed by a project team. TrueFalse
true
As you employ a customer-success strategy, your goal is to find ways to use your company's distinctive skills to help customers solve their own problems and improve their own capabilities.
true
Cross training only works when you 1) give workers the chance to make real decisions that make an impact and 2) reward them for the value they create.
true
Delighted customers—the ones who view their experience during the two moments of truth as surprisingly good (i.e., remarkable)—become loyal. TrueFalse
true
Empowerment programs/strategies can work in almost any industry, improving worker engagement and learning.
true
Features are the unique characteristics that distinguish a product from rivals' products.
true
Growing personal wealth and corporate profitability made sustainability a valued and viable competitive strategy that influences operations management.
true
In facility layout situations, where you position equipment defines the flow of materials and the number of times you must handle each item. The ideal layout minimizes movement and handling, creating a simple and smooth flow of materials through the facility. TrueFalse
true
Performed well, a SWOT analysis tells a compelling story that motivates change, drives learning, and improves performance.
true
Process design focuses on the technology and work design used to make products or deliver services.
true
Processes are to businesses what narratives are to stories.
true
Product innovation is more than a process. At high-leverage innovators, innovation is a cultural priority.
true
Satisfied customers are six times more likely to defect than delighted customers.
true
The goal of a basic customer service strategy can be stated as follows: Managers hope that by meeting industry standards they are meeting customers' needs. TrueFalse
true
The value chain expresses the idea that different functions within the firm are interconnected and only by working together can the firm effectively create customer value and compete in a tough competitive environment.
true
To the extent that you can standardize service delivery, you can improve control and productivity.
true