OSCM Chapter 1

Sort these operations and supply chain management events in order of their development (beginning with the oldest at the top to the latest).

1. Just in Time production 2.six sigma quality 3.electronic commerce 4.Business Analytics

Total Quality Management (TQM) became popular during what time frame?

1980s

Last year, Ace Electronics had Revenue of $3,000,000. The Total Assets held by Ace Electronics last year was $1,000,000. What was the asset turnover for Ace Electronics last year?

3

Last year, Ace Electronics had credit sales of $1,500,000. The average accounts receivable balance last year was $250,000. What was the receivables turnover ratio for Ace Electronics last year?

6

Which of the following is an example of a goods producing business?

An automobile manufacturer.

Which of the following is NOT an efficiency measure used by Wall Street?

Employee turnover. Reason: Employee turnover is a measure of employee satisfaction, not efficiency.

Which of the following tasks is an operations and supply chain manager likely to perform? (Select all that apply)

Ensures the shipping of finished products to customers Negotiates contract with vendors and coordinates flow of materials

Which of the following is NOT a type of process in the supply chain?

Evaluating Reason: Evaluating is NOT one of the five supply chain processes.

Which of the following is an example of benchmarking?

Hiring a consultant to study customer satisfaction metrics with those of key competitors.

The introduction of electronic commerce was facilitated by what event?

The growth of the Internet in the 1990s.

Receivables turnover is

a measure of the number of times receivables are collected, on average, during the fiscal year.

A process in which one company studies the processes of another company for best practices is known as

benchmarking.

True or false: Mass customization refers to the ability to produce generic products that appeal to a broad range of customers.

false

Inventory turnover is a way to evaluate

supply chain efficiency.

Operations and supply chain management is primarily concerned with systems that create and deliver

the firm's primary products and services. Reason: Operations and supply chain management activities include the design, operation, and improvement of systems that create and deliver the firm's primary products and services.

Operations and supply chain processes are the activities that

transform inputs into outputs. Reason: Operations and supply chain processes transform inputs into outputs.

True or false: A process is made up of one or more activities that transform inputs into outputs.

true

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: Product-service bundling occurs when a firm adds a service activity to a product.

true

In the context of efficiency and effectiveness,______ is abstractly defined as quality divided by price.

value