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.