Exam 1 (1,2,3,8,9) Questions and Answers 100% Correct!
What is an Order qualifier? - ANSWER-o Customer requirements for price, quality, delivery, etc.
o A company must meet or exceed minimum level to qualify for order
What is an Order Winners? - ANSWER-o Characteristics that persuade customers to select a product/service from a qualifying company
What do Order Winners turn into? - ANSWER-- Today Order Winner are tmr order Qualifiers
What are the Manufacturing Strategies? - ANSWER-- Engineer-to-order
- Make-to-Order
- Configure-to-Order
- Assemble-to-Order
- Make-to-Stoke
- Postponement
- Engineer-to-order - ANSWER-o Manufacturer does not start until the order is received.
o Custom designs
o Unique products
o Long lead time
o Inventory purchased after order is received
o Longer
- Make-to-Order - ANSWER-o Manufacturer does not start until the order is received
o Often uses standard components
o Little design time
o Lead time is reduced
o Inventory held as raw materials
o Can't Put a lot of inventory, Homes designed, getting it ready before purchase or construction.
- Configure-to-Order - ANSWER-o Customer allowed to configure product based on features and options
o May be an entirely new configuration
o Since features and options often available, no significant design time required
§ Typically implies shorter delivery time
o Similar characteristics to Make-to-Order
o Computer customized product - Assemble-to-Order - ANSWER-o Manufacturer inventories standard components
o No design time required
o Assembly only required
o Shorter lead time
o Inventory held as standard components
- Make-to-Stock - ANSWER-o Manufacturer produces the goods in anticipation of customer demand
o Little or no customer involvement with design
o Shortest lead time
o Inventory held as finished goods
- Postponement - ANSWER-o Waiting to assembly
What is the Supply Chain Concept? - ANSWER-- Includes all activities and processes to supply a product or service to the customer
- Links many companies
- Has a number of supplier Customer relationships - Flow of products, services, information, and cash.
What intermediaries do supply chain concepts have? - ANSWER-- Wholesalers
- Warehouses
- Realters
Just in Time - ANSWER-- Focused on creating partners
- Still in competitive culture
Historical Perspective on inventory management - ANSWER-- In the past there were well defined and rigid boundaries between organizations
- JIT viewed suppliers as partners
o Mutual analysis for cost reduction
o Mutual product design
o Greatly reduced inventory
o Improved communications (internet, EDI)
What is an example of the historical perspective? - ANSWER-o Ford Lean Manufacturing à Was not able to repeat this until Toyota.
§ Liberty ships assembly
What is the growth of Supply Chain Concept? - ANSWER-- Integrated systems (ERP) and the sharing of information
- Global competition and supply
- Flexible designs - reduced product life cycles
- JIT approach to inter-organizational relations
- Subcontracting or outsourcing work
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 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 papersmaster01. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.32. You're not tied to anything after your purchase.
