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MIS 301 final Question and answers correctly solved 2024

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MIS 301 final Question and answers correctly solved 2024 What is supply chain? - correct answer sequence of processes involved in the production and distribution of a commodity What is disintermediation? - correct answer reduction in the use of intermediaries between producers and consumer...

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  • 27 augustus 2024
  • 17
  • 2024/2025
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  • mis 301 final question and answers correctly solv

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Voorbeeld van de inhoud

MIS 301 final
What is supply chain? - correct answer ✔sequence of processes involved in
the production and distribution of a commodity


What is disintermediation? - correct answer ✔reduction in the use of
intermediaries between producers and consumers


What is bullwhip effect? How do you stop the bullwhip effect? - correct
answer ✔increasing swings in inventory in response to shifts in customer
demand as one moves further up the supply chain
let all participants have access to consumer-demand information


What is vertical integration and understand how it has benefited Zara? -
correct answer ✔Vertical integration is when one company engages in 2+
stages of production normally conducted by another company.
It benefits Zara in the sense that they can produce and fix things much quicker
15 days for design 10 days for tweaks.


What are the risks of vertical integration for Zara? - correct answer ✔If
problems occur in northern Spain, Zara has little to
nothing to fall back on (natural disaster)
Rising transportation costs are issue since they are vertically integrated
The firm is potentially more susceptible to financial vulnerabilities as the Euro
has strengthened relative to the dollar


What is contract manufacturing? Read Contract Manufacturing: Lower Costs
at What Cost? - correct answer ✔Production of goods by one firm, under the
label or brand of another firm

,How does Zara gather data? What is PDA, POS system? - correct answer
✔PDA: Walk around and ask people what they like. 70% of salary can come
from commissions
POS: Garment rankings by sales


How does Zara use data to help with designing new lines? - correct answer
✔They send customer info to the cube and at the factory they tweak the
clothes


Understand Zara's manufacturing and logistics. - correct answer ✔In house
and outsourcing manufacturing. Helps nearby economy
Inventory overturn restock every 2 wks manufacturing was really quick
amount they sale equals how much they had.


Understand vertical integration, value chain, and logistics. - correct answer
✔combination in one company of two or more stages of production normally
operated by separate companies.
process or activities by which a company adds value to an article, including
production, marketing, and the provision of after-sales service
process of planning, implementing, and controlling procedures for the efficient
and effective transportation and storage of goods


What is limited run and how Zara utilizes this concept to increase sales? -
correct answer ✔Limited run is the idea that the clothes will be there for
limited time so it makes customers buy the clothes when they see it because it
may be gone the next day and will never come back.


Why is technology not equal to systems? Read about Prada case in your
textbook.

, Know about IS, ROI, and operations. - correct answer ✔ROI - Amount
earned from an expenditure
IS - Integrated solution that combines 5 components (scroll up)
You have to take into account the people and procedures and data, Prada
messed up in these areas because no one could work the tech and the data
was wrong (out of stock when it really wasn't)


What is collaborative consumption or sharing economy? - correct answer
✔economic system in which assets or services are shared between private
individuals, either free or for a fee, typically by means of the Internet.


What are the factors fueling the rise of collaborative consumption? - correct
answer ✔A prolonged, worldwide economic recession and stagnant wages
have boosted consumer interest in low-cost alternatives to conventional
products and services, and it encouraged a whole new class of lay people to
try their hand at offering services for hire


Read 2.2 Winning in Electronic Markets. - correct answer ✔Be early to
attract a mass market of buyers and sellers. Allows you to gain scale, money,
and brand for competitive advantage.


Understand how social media is used for virality and trust strengthening. -
correct answer ✔When people refer things to their friends, the friend will see
it as credible and trustworthy and will use it as well.


We talked about why Uber left Austin in class. Please read Section 2.4 in your
textbook to understand challenges of safety and regulations. - correct answer
✔Uber and Lyft fell on the short end of the stick with Prop 1 (voting bill that
said they had to use finger prints in their background checks.
Spent almost 8.6 million on advertising, lost to opponent who spent 200,000
Catered to the wrong demographic who typically does not vote.

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