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SCM 303 Exam 1 MSU With Complete Solutions Latest Update
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SCM 303 Exam 1 MSU With Complete Solutions Latest Update
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SCM 303 Exam 1 MSU With Complete Solutions Latest Update· TPE-TCO-Life refers to: - correct answers A tradeoff of concerns
· For our class and enterprise risk management, and "enterprise" could be: - correct answers any entity or group
· "Amazonization" is: - correct answers the shift to online ordering and direct delivery to a business or home
· The industry 4.0 focus is on: - correct answers o Advancing from computer automation to cyber physical systems
· Value: - correct answers o the amount buyers are willing to pay (measured by total revenue which is price and volume) for what a firm provides to them
· Integrated Supply Chain Management is: - correct answers o the consideration of all supply chain activities into one seamless system
· Inbound Logistics is: - correct answers o activities associated with receiving, storing, and disseminating inputs to the product such as materials handling, warehousing, inventory control, vehicle scheduling, and returns to suppliers.
· Cross functional activities include: - correct answers o risk, quality, sustainability
· A company strategy is defined and decided by: - correct answers o Customers and individuals
· Identify the aspects of an operations management system that are affected by infrastructural decisions. - correct answers o Workforce
o Production planning and control
o Process innovation · Identify the characteristics of goods - correct answers o Goods are tangible.
o Goods can be inventoried.
o Goods have long lead times.
· Identify the definition of a process. - correct answers o A system of activities that transform inputs to valuable outputs
· From a historical perspective, identify the reasons why advances in technology and infrastructure have increased the focus on supply chains in operations management. - correct answers o Digital communication has made information transactions for planning, material movement tracking, and financial needs more efficient.
o Modern transportation is faster, more reliable, and connects more remote locations to the global network.
o Modern transportation networks open opportunities both for new suppliers & new markets.
· Identify the aspects of an operations management system that are affected when a manager makes structural decisions. - correct answers o Facilities
o Supply chain network
o Capacity
· Identify a difference between goods and services. - correct answers o Quality assessment of goods is easier than the quality assessment of services.
· True or false: Operations management is a process-oriented discipline - correct answers o True
Lean Operation - correct answers is an operation that produces maximum levels of efficiency and effectiveness using a minimal amount of resources.
· True or false: China, Russia, and India are examples of countries where a move towards more centralized control has increased economic growth. - correct answers False
· Identify the true statements about goods and services. - correct answers o Goods can be produced in advance and stored in inventory.
o Goods manufacturing operations can use inventory to smooth out imbalance between production and demand.
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