Buad 331 stuvia - Study guides, Class notes & Summaries

What is a supply chain? - ANSWERA supply chain consists of the organizations, people, activities, information, and resources involved in moving a product or service from the origins of supply all the way to point of final consumption, and, increasingly, re-entering material that was not consumed back into the supply chain for reuse or recycling. How long have supply chains been around? - ANSWERThey have been in existence for many centuries, although the term "supply chain" was not commonpla...

what statement best describes what a supply chain is? - ANSWERA complex network of companies that works together to provide a good or service for the end-use customer According to the University of Tennessee's concept of the Integrated Supply Chain, what lies at the center of the effort? - ANSWERthe customer experience Which economic utilities are associated with supply chain management? - ANSWERForm, Time, and Place A company that seeks to achieve competitive advantage by simultaneous...

How does Zara use its supply chain capabilities to generate competitive advantage? A. Stocking clothing far in advance of sales to ensure in-stock availability. B. Buying new seasonal clothing lines in bulk to take advantage of volume discounts from suppliers. C. Speeding cycle times of new fashions from design to store shelf to ensure the trendiest fashions. D. Cycling seasonal clothing trends using long-term predictions of demand to lower costs for customers. - ANSWERC Supply chain ma...

Why might a company consider expanding its supply chain internationally? A. To obtain access to lower-cost suppliers B. To take advantage of a skilled labor base in another country C. To support international expansion of sales D. To fend off competition from an international competitor E. All of the above - ANSWERE. All of the above What dimension of the country assessment framework involves the strength of supply chain support businesses in the region?A.Competency B.Economy C.Politic...

Ways Organizations Create Value - ANSWEROrganizations create value by shaping the product (form utility), delivering it at the right time (time utility), and placing it where it's needed (place utility). Cost Leadership - ANSWERProviding products or services at the lowest cost. Differentiation - ANSWEROffering unique and high-quality products. Responsiveness - ANSWERQuickly adapting to changes in demand and customer needs. ROA Definition - ANSWERReturn on Assets is a financial metri...

Which of the following is not a technique for fulfilling customer orders? A. Supply cycle time B. Anticipate form, time, and place C. Full Postponement D. Make to stock, postpone time/place - ANSWERA. Supply cycle time Define order cycle time. A. The total cost of ownership combined with the customer value of a product B. The total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled C. The total elapsed time from when the customer first o...

b. Selectively apply automation to help reduce costs and lower prices at whole foods - ANSWER1. In class we discussed amazons recent acquisition of whole foods. The strategy that seems the most plausible for amazon is: Focus on creating supply chains that deliver the specific form, time and place utility that each customer segment is looking for, at a price that each segment is willing to pay - ANSWER3. Two kinds of customers walk into grizzly fly fishing shop: college freshman taking a first...

SCM Contributes to value creation: - ANSWERIn its most basic form, a business makes a promise to customers that it will fulfill a need by providing a good or service, and then it delivers on that promise. Business organizations provide value only when they identify demand and fulfill that demand by providing a good or service. These three types of value involve fulfilling a customer need - ANSWER(1) with the right form (2) at the right time (3) at the right place—essentially, the role pla...

Why might a company consider expanding its supply chain internationally? - ANSWERAll of the above (To obtain access to lower-cost suppliers To take advantage of a skilled labor base in another country To support international expansion of sales To fend off competition from an international competitor) What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular w...

What is one major ISSUE that still exists in a lean fulfillment model: - ANSWERINVENTORY must be held in anticipation of customer orders Assuming company decided to adopt full agile/responsive order fulfillment, which case above would exemplify the costs associated with this strategy? - ANSWERTotal Inventory = Zero Case D In class we discussed 3-dimensional printers. Which of the following is NOT expected to be one of the benefits? - ANSWERReduced DEMAND uncertainty. What is one benefi...