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
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