BUAD 331 Exam 1 Knowledge Checks Questions With complete Solutions

1.2 Supply Chain Management refers to: correct answer: The management of up and downstream relationships with suppliers and customers to deliver superior customer value at less cost to the supply chain as a whole. 1.3 Which company refers to itself as a "technology company merged with a supply chain"? correct answer: Amazon 1.4 How does supply chain management create value? correct answer: Form, Time, Place, and Exchange 1.1 How does supply Zara use its supply chain capabilities to generate competitive advantage? correct answer: Speeding cycle times of new fashions from designs to store shelf to ensure the trendiest fashions. 2.3 What part of the supply chain operations reference (SCOR) model involves turning the raw material into a finished product? correct answer: Make 2.4 In relation to the overall supply chain, _____________ place a priority on cost savings while _________________ places a priority on doing whatever is necessary to deliver form, time, & place as promised on a specific order. correct answer: Upstream operations, downstream operations. 2.5 What negative outcomes can result from large lot-sized, long lead time operations? correct answer: 1) Customers don't want the items. 2) The items are in places & times the customers don't want them.