exam 1 mkt 303
Sort these operations and supply chain management events in order of their development (earliest to latest)
1. Just-in-time (JIT) production 2. Six Sigma Quality 3. Electronic Commerce 4. Business Analytics
Place the steps in the risk management process into the proper order in which they can be applied to situations where risk disruptions are possible.
1. identify the sources of potential 2. assess the potential 3. Develop plans to mitigate the risk
Total Quality Management (TQM) became popular during what time frame?
1980s
Logistics, while continuing to grow, currently make up _________ percent of the US gross domestic product.
8 to 9
Which of the following is an example of a service business?
A call center.
According to the Logistics-System Design Matrix, which of the following modes of transporting products is the fastest but most expensive?
Air
Which of the following is an example of a goods producing business?
An automobile manufacturer
Which of the following is identified as an approach used in consolidation warehouses, where, rather than making larger shipments, they are broken down into small shipments for local delivery in an area?
Cross- Docking
Which of the following additional services can be provided by the logistics company? Multiple select question.
Customer service functions Inventory control Warehouse management
Which of the following is NOT a major challenge likely to be faced by operations and supply chain managers in the future?
Developing appealing advertising and marketing materials for Internet customers.
efficiency
Efficiency is doing something at the lowest possible cost
An order qualifier today will be an order winner in the future.
False
True or false: Third-party logistics companies manage only customer service functions. True false question.
False A third-party logistics company manages all or part of another company's product delivery operations, including warehousing, inventory control, and customer service.
True or false: An operations and supply chain strategy is independent of the corporate strategy.
False, Operations and supply chain strategy must be integrated with corporate strategy.
International logistics is concerned with movement of goods and materials on a _______ scale.
Global
The functions concerned with movement of goods and materials on a global scale are known as ________ logistics
International
Major information system activities for planning logistics involve allocating resources, managing _______ levels, scheduling, and order tracking.
Inventory
The framework used to describe logistics processes is which of the following?
Logistics-System Design Matrix
Order winners and qualifiers represent a link between operations and what other business function?
Marketing
Which of the following tasks is an operations and supply chain manager likely to perform? (Select all that apply)
Negotiates contract with vendors and coordinates flow of materials Ensures the shipping of finished products to customers
The feature that actually differentiates one product from the other candidates and is purchased is known as the? Multiple choice question.
Order winner
Which of the following competitive dimensions relates to environmental impact? Multiple choice question.
Other Product-Specific Criteria
According to the logistics-system design matrix, which of the following modes of transporting products is limited to liquids, gases, and slurry? Multiple choice question.
PipeLines
What tool involves assessing the probability or relative frequency of an event against the aggregate severity of the loss?
Risk mapping
When a firm seeks to match the benefits of a successful position while maintaining its existing position (for example, an automobile manufacturer wants to occupy both the luxury-car segment and the performance-car segment at the same time). This is an example of
Straddling is when a firm seeks to match the benefits of a successful position while maintaining its existing position.
The introduction of electronic commerce was facilitated by what event?
The growth of the Internet in the 1990s.
Which of the following is true of services?
They are intangible., They are perishable.
A company that manages all or part of another company's product delivery operations is known as which of the following?
Third-party Logistics company
Which term defines when activities are incompatible so that more of one thing necessitates less of another activity?
Trade-off
True or false: Standardized containers can be used to efficiently transfer product between multiple transportation modes.
True, Firms may use multiple modes of transportation for goods; standardized containers can help to transfer the product between the modes efficiently.
True or false: Operations effectiveness is related directly to the costs of doing business.
True, Operations effectiveness is directly related to business costs and relates to implementing strategic priorities at minimum cost.
True or false: An operations strategy must consider the risk throughout the supply chain. True false question.
True, Understanding the risks associated with the supply chain is a key consideration for operations strategies.
Pure Services
University, Medical
In the context of efficiency and effectiveness _______ is abstractly defined as quality divided by price.
Value
Which of the following are the dimensions of the Logistics-System Design Matrix?
Volume cost speed of delivery
According to the Logistics-System Design Matrix, which of the following modes of transporting products has the highest capacity and a very low cost?
Water
Straddling is defined as
adding new features, services, or technologies to existing products to match a competitor.
goods/services combinations
automobiles, Airlines
Which of the following is NOT a type of process in the supply chain?
evaluating
pure good
food prodcuts, chemicals
A process that cannot be weighed or measured is known as Multiple choice question.
intangible
effectiveness
is doing the right things to create the most value for the customer.
value
is the attractiveness of a product relative to its price.
quality
is the attractiveness of the product, considering its features and durability.
Performing activities in a manner that best implements strategic priorities at minimum cost is known as
operations effectiveness.
The operations and supply chain strategy is a part of the
planning process.
Building service activities into a firm's product offering is known as
product-service bundling.
All of the following are competitive dimensions that help to form a firm's competitive position except
retail speed. (Correct Answer) Delivery speed is a competitive dimension that can attract buyers who need products to arrive quickly. Flexibility is a competitive dimension used to attract buyers who want new product innovation. Cost is a competitive dimension that can attract buyers who are solely attracted to low cost.
Which of the following processes involves the selection of suppliers?
sourcing
When a company seeks to match the benefits of a successful position and maintain their current position in the marketplace it is attempting a(n) ________________ approach. Multiple choice question.
straddling
The ability to meet current resource needs without compromising the ability of future generations to meet their needs is known as
sustainability
Operations and supply chain processes are the activities that
transform inputs into outputs.
True or false: An operations and supply chain manager helps firms determine the best way to deliver its goods and services.
true
True or false: Electronic commerce is defined as the use of the Internet as an essential element of business activity.
true
True or false: Most product offerings are a combination of goods and services.
true
True or false: Operations and supply chain management is focused on the systems that create and deliver an organization's products and services.
true
True or false: Product-service bundling occurs when a firm adds a service activity to a product. True false question.
true
True or false: Special consolidation warehouses are used when shipments from various sources are pulled together and combined into larger shipments with a common destination or into smaller shipments to deliver locally.
true, Special consolidation warehouses pull shipments from various sources, they are used for cross-docking to combine larger shipments or break them down into small shipments for local delivery.