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buad 331 final exam|47 Questions with Complete Solutions
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buad 331 final exam|47 Questions withComplete Solutions
How can purchasing add value to an organization?
A. By ensuring an uninterrupted flow of materials or services
B. By reducing the total cost of products
C. By collaborating with other areas such as logistics on supplier location
decisions.
D. By increasing revenue through supplier innovation and new product
launch
E. All of the above - -All of the above
-Manufacturing and service operations are primarily about creating which
form of utitly?
Form
Time
Place
Electric - -Form
-Creating partnerships that provide access to unique and valuable resources
that can serve as the basis for outcompeting other businesses in the same
sector in the long term is the idea behind:
A. the relational view of competition.
B. the transactional view of competition.
C. partnership management.
D. supplier management. - -the relational view of competition.
-Why does manufacturing often have a high level of emphasis on the supply
chain?
It usually employs many people
It is often the main constraint in the supply chain
It is often capital intensive
All of the above - -All of the above
-Warehouses play a critical role in the supply chain system by:
Enabling diseconomies of scale in sourcing, manufacturing, and
transportation
Preventing the consolidation of materials from multiple suppliers
Providing an inflexible and high-cost capability for customizing products
Placing a buffer between supply and demand - -placing a buffer between
supply and demand
, -Ted wanted to paint his upstairs hallway. He selected 4 different colors of
brown/ beige and chose "Puppy Paws," which Lowe's mixed for him on site.
This method of order fulfillment is an example of ________.
A. Time postponement
B. Place postponement
C. Logistics postponement
D. Manufacturing or form postponement - -Manufacturing or form
postponement
-Is a part of the supply chain involved in managing the forward and reverse
flow and storage goods, services, and related information between the point
of origin and the point of consumption to meet customer requirements?
Logistics
Procurement
Transportation
Negotiation - -Logistics
-____________ added time is the percent of total cycle time that a product or
service may spend waiting to have form, time, or place value added to it.
Non-value
Late shipment
Product cycle
Variable - -Non-value
-The Supply Chain value proposition framework represents the interactions
between:
revenue, cost, and assets
revenue, cash, and costs
cash, costs of goods sold, and inventory
operational value, profitability, and investors - -revenue, cost, and assets
-customer service standards should be set based on:
An accurate understanding of actual customer needs
Trade publication articles about what customers want
managers' assessment of what is best for the customers
industry service levels - -An accurate understanding of actual customer
needs
-What is one major characteristic that still exists in a lean fulfillment model?
requirement to hold inventory in anticipation of customer needs
need for fewer deliveries
greater uncertainty in raw material inventory
longer lead times - -requirement to hold inventory in anticipation of
customer needs
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