BUAD 331 Final Exam Review Questions & Answers(RATED A+)

Which Economic utility is not a reason for students to buy textbooks from Amazon? - ANSWERForm Which of the following is NOT a characteristic of an efficient supply chain? Supply Predicable Demand Maximize performance and minimize cost Generate high turns to minimize inventory Select primarily for speed, flexibility, and quality Select primarily for cost and quality - ANSWERSelect primarily for speed, flexibility, and quality How has Zara utilized a vertically integrated business model? - ANSWERBy increasing the quantity of products produced in-house rather than by outsourcing What is one major issue that still exists in a lean value creation model: - ANSWERInventory must be held in anticipation of customer orders What is one way that coordination and planning information is used in supply chain management? - ANSWERBalancing the load and capacities of different resources over time SCM is responsible for procurement of... - ANSWERraw materials and subcomponents, manufacturing or assembling the into a finished configuration, and using logistics and distribution to get this configuration where and when it is needed for consumption SCM creates value for customer through... - ANSWERFTP (form, time, place) and value for company through improved financial results Define SCM - ANSWERSupply chain consists of the organizations, people, activities, info, and resources involved in moving a product or service from the origins of supply all the way to the point of final consumption What is the paradigm change for business competition? - ANSWERSupply chains historically focused on being cost leaders, but now in order to be competitive, they need to offer FTP value as well SCM role in marketing mix - ANSWERProvide customers with products they want, when they want it, in the right condition, for the right price The Great Divide - ANSWERlack of communication and coordination between upstream activities (procurement, inbound logistics, and manufacturing and service operations) and downstream activities (demand fulfillment to customers)