MGT 3500 Study Exam Questions & Answers.
What is product-service bundling - CORRECT ANSWER Product-service bundling is adding Value-added services to a firm's product offerings to create more value for the customer.
What are the three elements that require integration to be successful in op...
MGT 3500 Study Exam Questions & Answers.
What is product-service bundling - CORRECT ANSWER Product-service bundling is adding Value-added services to a firm's product offerings to create more value for the customer.
What are the three elements that require integration to be successful in operations and supply chain management? - CORRECT ANSWER Strategy, Processes, and Analytics
Operations and supply chain management is concerned with the design and management of the entire system that has what function? - CORRECT ANSWER Produces a product or delivers a service
Which major OSCM concept can be described as an integrated set of activities designed to achieve high-
volume production using minimal inventories of parts that arrive at workstations exactly when they are needed - CORRECT ANSWER Just-in-time (JIT) production
Operations and supply chain ________________ leverage the vast amount of data in enterprise resource planning systems to make decisions related to managing resources. - CORRECT ANSWER analytics
Which current issue in OSCM relates to the ability of a firm to maintain balance in a system, considering the ongoing economic, employee, and environmental viability of the firm? - CORRECT ANSWER Sustainability
What is the name of the process in which one company studies the processes of another firm in order to
identify best practices? - CORRECT ANSWER Benchmarking
Shell Oil Company's motto "People, Planet and Profit" is a real-world implementation of what OSCM concept? - CORRECT ANSWER Triple bottom line
2. A firm's strategy should describe how it intends to create and sustain value for ________________________. - CORRECT ANSWER its current shareholders 3. What is the term used to describe individuals or organizations that are influenced by the actions of the firm? - CORRECT ANSWER Stakeholders
4. How often should a company develop and refine the operations and supply chain strategy. - CORRECT ANSWER At least yearly
5. What is the term used to describe product attributes that attract certain customers and can be used to form the competitive position of a firm? - CORRECT ANSWER Competitive dimensions
6. What are the two main competitive dimensions related to product delivery? - CORRECT ANSWER Delivery speed and delivery reliability
7. What are the two characteristics of a product or service that define quality? - CORRECT ANSWER Design quality and process quality
8. A diagram that shows how a company's strategy is delivered by a set of supporting activities is called a
_____________________________. - CORRECT ANSWER activity-system map
9. In implementing supply chain strategy a firm must minimize its total cost without compromising the needs of its ____________________________. - CORRECT ANSWER Customers
10. What is defined as the likelihood of disruption that would impact the ability of a company to continuously supply products or services? - CORRECT ANSWER Supply chain risk
11. Risks caused by natural or manmade disasters, and therefore impossible to reliably predict, are called ______________________. - CORRECT ANSWER Disruption risks
Country risks - CORRECT ANSWER Currency hedging, local sourcing
Regulatory risk - CORRECT ANSWER Good legal advice, compliance
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ROSEGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
