SCMT 364 LearnSmart
Total Quality Management became popular during what time frame
1980s
Which of the following is an example of a goods producing business?
An automobile manufacturer A car manufacturer
Doing something at the lowest possible cost is known as
Efficiency
What refers to the use of the internet as an essential element of business activity?
Electronic commerce
A common set of financial indicators that Wall Street tracks to benchmark companies are called what?
Management efficiency ratios
Which of the following is not a type of process in the supply chain
Marketing
A company known for delivering high-volume standardized services
McDonald's
Works with people to figure out the best way to deliver the goods and services of the firm
OSCM manager
What is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services
Operations and supply chain management
One or more activities that transform inputs into outputs are called what?
Process
Product-service bundling refers to a company bundling service activities into it product offerings for its customers. Which of these activities would not be included in the product-service bundle?
Product design
Building service activities into a firm's product offering is known as
Product-service bundling
Where does medical care fell on the goods-service continuum?
Pure services
Which of the following processes involves the selection of suppliers?
Sourcing
A process is made up of one or more activities that transform inputs into outputs
True
Business analytics is defined as the analysis of data to better solve business problems
True
The attractiveness of a product relative to its cost is known as
Value
The ratio of revenue to total assets is known as
asset turnover
A process in which one company studies the processes of another company for best practices is known as
benchmarking
A process that cannot be weighed or measured is known as
intangible
The ratio of cost of good sold to average inventory value is known as
inventory turnover
The ability to produce a unique product exactly to a particular customer's requirements is known as
mass customization
Bundling service activities into a firm's product offering is known as
product-service bundling
The ability to meet current resource needs without compromising the ability of future
sustainability
