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BUAD 331 Exam 4 Questions and Answers
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BUAD 331 Exam 4 Questions and Answers
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BUAD 331 Exam 4 Questions and AnswersWhat is the Cost of Inventory? Correct Ans-capital costs
service costs
storage space costs
inventory risk costs
ABC and ABM are... Correct Ans-allocation techniques that make it possible to more
precisely assess the segment profitability
Allocations are more... Correct Ans-realistic than traditional cost accounting which relies
on sales volume or direct labor hours to allocate "overhead"
Shape your demand to... Correct Ans-match your supply
A (BLANK) must be taken when maximizing overall company competitiveness Correct Ans-
holistic financial perspective
Benchmarking Correct Ans-the comparison of metrics and processes with externally
focused best practice performance to introduce change and aspire to superior performance
standards
Purpose of benchmarking Correct Ans-- to answer the question of "are we competitive?"
, BUAD 331 Exam 4 Questions and Answers
- to establish the ground for creative breakthroughs and move away from tradition
- to provide externally-oriented performance input that is forward looking
Conventional change processes present... Correct Ans-solutions for a better future without
thoroughly diagnosing the present problem
- as a result, personnel recognize the risk of change instead of the risk of not changing
Industry comparision Correct Ans-are we competitive?
Internal comparision Correct Ans-can we do it better?
"Best in Class" comparision Correct Ans-can we do it differently?
Apply the right... Correct Ans-resources (get support from top management)
Involve management from the (BLANK) under review Correct Ans-functional areas
Budget sufficient (BLANK) and (BLANK) to collect the necessary data Correct Ans-time
money
, BUAD 331 Exam 4 Questions and Answers
Analysis must be (BLANK) to relevant strategic issues Correct Ans-related
Analysis must drive what 3 things? Correct Ans-concrete actions
concrete plans
performance targets
Benchmarking must be viewed as both... Correct Ans-1) a way to improve existing
processes and internal operations
2) learn new ways to do things
The using the supply chain implications of time, what can you predict most accurately?
Correct Ans-where you will be next week at this time
Planning Horizon and Uncertainty Correct Ans-- too much results in inventory
- too little results in customer service
The time it takes to procure, make and deliver the finished product to a customer is often...
Correct Ans-longer than the time the customer is prepared to wait
Lead Time Gap = Correct Ans-SC Lead Time - Customer's Order Cycle Time
Supply Chain Lead Time Correct Ans-procurement, manufacturing, and delivery of order
, BUAD 331 Exam 4 Questions and Answers
Customer's Order Cycle Time Correct Ans-time that the customer is prepared to wait on an
order
In conventional organizations, the only way to close Lead Time Gap is to... Correct Ans-
attempt to forecast the market's requirements and carry just-in-case inventory
Ideally, a reduction in the gap can be achieved by... Correct Ans-shortening the SC Lead
Time (pipeline time) while simultaneously trying to gain earlier warning of requirements
through improved visibility of demand
Cash-to-cash Cycle = Correct Ans-Days of Inventory + Days Accounts Receivable - Days
Accounts Payable
Which of the following statements LEAST describes a new competitive environment?
Correct Ans-A new competitive environment requires the paradigm of OR rather than the
paradigm of AND
As the time horizon for planning supply chain (BLANK), the accuracy of the planning (BLANK).
Correct Ans-is pulled to actual time (shortens)
improves
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