CPIM EXAM |145| QUESTIONS WITH COMPLETE SOLUTION

CPIM EXAM |145| QUESTIONS WITH COMPLETE SOLUTION Supply Chain Management ANS-The design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand, and measuring performance globally Value Chain Analysis ANS-An examination of all links a company uses to produce and deliver its products and services, starting from the origination point and continuing through delivery to the final customer. Risk Management ANS-The identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control Operations Management ANS-The planning, scheduling, and control of the activities that transform inputs into finished goods and services Materials Management ANS-The grouping of management functions supporting the complete cycle of material flow Manufacturing Planning and Control (MPC) ANS-High-level planning, master scheduling, material requirements planning (MRP), and execution control along with the related check on available capacity Strategic Plan ANS-The plan for how to marshal and determine actions to support the mission, goals, and objectives of an organization Business Plan ANS-A statement of long-range strategy and revenue, cost, and profit objectives usually accompanied by budgets, a projected balance sheet, and a cash flow statement What if Analysis ANS-The process of evaluating alternate strategies by answering the consequences of changes to forecasts, manufacturing plans, inventory levels, and so forth Tactical Plan ANS-The set of functional plans (sales plan, production plan, marketing plan) synchronizing activities across functions that specify production levels, capacity levels, staffing levels, funding levels, for achieving the intermediate goals and objectives to support the organization's strategic plan Balanced Scorecard ANS-A list of financial and operational measurements used to evaluate organizational or supply chain performance