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___________ can be defined as "a group of resources performing all or part of one or more processes." correct answers operation ___________ is called because of the series of "links" flow raw materials from suppliers; to the production of finished goods; into a distribution channel; and ultimate...

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  • September 12, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • can be defined as a group of resource

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  • MGMT301 mod. 8-14 tophat
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MGMT301 mod. 8-14 tophat || with A+ Guaranteed
Solutions.
___________ can be defined as "a group of resources performing all or part of one or more
processes." correct answers operation

___________ is called because of the series of "links" flow raw materials from suppliers; to the
production of finished goods; into a distribution channel; and ultimately, into the hands of
customers, while ___________ is the design, direction, and control of those processes. correct
answers supply chain and operations management

Groups of processes can be thought of as a "fulfillment stream", with the product "flowing"
towards the customer. correct answers True

A ___________ is some kind of activity or a group of activities, that both consume some sort of
input from one or more suppliers, and transforms them into one or more outputs that are then
provided to customers. correct answers process

All processes are broken into their constituent steps, and each step is analyzed to determine the
most efficient way to execute it while optimizing the flow of product: Which of the following
terms describes this statement?
a. standard work
b. standardized work
c. standard operating procedure
d. all of the above correct answers all of the above

The concept of system thinking is best described by which one of the following?
a. highlights that all components are part of an organism
b. they are interrelated
c. changing one of them can have an unforeseen outcome elsewhere in the system
d. all of the above correct answers all of the above

Which business management guru introduced the concept of the Theory of Constraints, which
outlines five key steps to determine how to optimize an operation or system? correct answers
Eliyahu Goldratt

In a Lean focus, the customer signals the demand for a product, and only what the customer
demands (and values) flow towards them. correct answers true

The continuous improvement process in Lean is characterized by the ___________ (Japanese for
"change for better") process. correct answers Kaizen

Which is the following is the realm of Six Sigma? correct answers the waste of "defects"

, According to the experts, there is a delicate balance exists between holding enough inventory
and holding too much. correct answers true

A customer has four fundamental utilities (or needs whose fulfillment delivers them value).
Which of the following is not one of those utilities? correct answers function

Holding inventory generates which type of cost? correct answers carrying cost

A ___________ occurs when the inventory level of a product has dropped to a quantity where
more inventory is needed to avoid starving the supply chain. correct answers reorder point

A company can focus on monitoring customer demand, and allow the customer to ___________
product towards them, while a company will ___________ product towards the customer and
hope that they buy it, based on the plan. correct answers Pull; Push

Which description best describes relationship marketing? correct answers developing a long-term
relationship with customers becomes important

The use of Big Data solutions, designed to process through vast amounts of transactional data
and to derive customer insights, and is a gold mine of potential information key to both
understanding customers and selling them more product. correct answers true

We call a supply chain node capable of delivering a product to a customer a point-of-presence.
Points-of-presence may include which one of the following?
a. facilities like brick-and-morter retail stores
b. e-commerce fulfillment centers
c. manufacturing facilities capable of direct-to-customer shipment
d. all of the above correct answers all of the above

The structure of an organization basically demonstrates how the hierarchy works within each
organization. correct answers true

___________ is a system of institutional rules and policies designed to outline how various work
roles and responsibilities are delegated, controlled, and coordinated. correct answers
organizational structure

___________ is the process by which managers select and manage various dimensions and
components of organizational structure and culture so that an organization can achieve its goals,
while ___________ is a system of institutional rules and policies designed to outline how various
work roles and responsibilities are delegated, controlled, and coordinated. correct answers
organizational design; organizational structure

Henri Fayol was the man credited with creating the Four Functions of Management. Which
function below is not part of Fayol's Four Functions? correct answers manipulating

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