BUAD 331 Exam Questions And Answers (Verified And Updated)
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Course
BUAD 331
Institution
BUAD 331
BUAD 331 Exam Questions And Answers (Verified And Updated)
Planning
involves predicting or forecasting future demand for a product or service to secure capacity, materials, and talent to fulfill the expected demand in a way that meets customer's expectations
Sourcing or Procurement
involve...
BUAD 331 Exam Questions And Answers
(Verified And Updated)
Planning
involves predicting or forecasting future demand for a product or service to secure capacity,
materials, and talent to fulfill the expected demand in a way that meets customer's expectations
Sourcing or Procurement
involve identifying, acquiring, and managing the goods and services needed to run a business or
another organization
Inbound Logistics
involves the management of materials from suppliers and vendors into production processes or
storage facilities
Manufacturing and Service Operations
refer to the processes and activities involved in transforming resources into finished products, as well
as those involved in planning and controlling the systems that produce goods and services
Order Management
encompasses planning, directing, monitoring, and controlling the processes related to customer
orders, manufacturing orders, and purchase orders
Outbound logistics
is the process related to the movement and storage of finished products from the end of the
production line to the end user
Customer Service and Aftersales support
include services provided after delivery, such as repairs, maintenance, and/or telephone support
Returns Management
entails processes related to returning goods from the customer to the manufacturer due to
obsolescence, performance problems, customer preference, or reduction of waste and environmental
concerns
Example of companies that use an integrated supply chain system
Amazon and chinese e-commerce company Alibaba
4 ways Organizations create value
Exchange, Form, time, Place
Linking Supply Chain to Financial Performance
SCM must demonstrate how that better value improves financial performance
SCM can improve asset utilization
True
,Supply Chains contribute to reduce environmental impact such as:
More efficient transportation planning to take some trucks off the road
Reusing water in manufacturing plants to reduce wastewater
Improving packaging to reduce landfill materials
Converting local transportation assets to electric or natural gas
Value Example: Fiji water is a premium (differentiate) product and Dasani is a widespread available
product (High Intensity distribution strategy) but Fiji is more of a selective distribution strategy)
Form: Fiji (Spring water), Dasani (Purified Tap Water)
Time: Fiji (Single source far from market), Dasani (Multiple sources close to market; coca-cola bottler)
Place: Fiji (Limited availability as "premium item", Dasani (Wide Availability)
Revenue Generation has been largely a customer facing function
Example: When Coca-Cola want to put out a new product, they look into supply chain for money
(They mostly look at Total Cost Management and Asset Utilization)
SUPPLY CHAIN IS A COST CENTERED BUSINESS
Right-Sized inventory:
Have enough of the inventory where it is not too much
Cash Conversion Cycle:
We want cash immediately
Example: Dell has a negative cash conversion, they take your money right away but behind the scenes
they delay payment to their suppliers
Supply chain management contributes to reduced environmental impact in all of the following ways
EXCEPT:
A. More efficient transportation planning to take some trucks off the road
B. Reusing water in manufacturing plants to reduce wastewater
C. Improving packaging to reduce landfill materials
(D). Sourcing from global areas to increase transportation miles
E. Converting local transportation assets to electric or
Supply Chain Management:
A. Emphasizes optimized advertising and promotion across the organization
B. Requires a high level of corporate input in inventory management and production scheduling
decisions
, (C) Extends the linking and coordination of materials management, manufacturing management and
distribution upstream to suppliers and downstream to customers
D. Uses mergers and acquisition across the supply chain integration to better manage materials flow
from suppliers and distribution of end product to the customer
A firm is a recognized cost leader but has a strategic goal to become a cost and service leader. What is
one initiative that could be planned and implemented to make this a reality?
A. Increase sales calls to all existing customers
B. Increase capacity utilization to gain economies of scale
C. Award larger employee bonuses to encourage more emphasis on selling
(D). Offer customized services to key customers
E. Own every step in the supply chain instead of relying on external suppliers
Productivity in SCM contributes to inflation that directly impacts the quality of life
True
Supply Chain also has a significant impact on employment
True
How does Zara use its supply chain capabilities to generate a 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 demand predictions to lower customer costs.
Supply chain management refers to:
A. the delivery of goods and services to downstream customers
B. the collaboration between a company's operations and logistics functions
(C). the design and coordination of a network of organizations to get, use, deliver, and dispose of
goods and services
D. the procurement, movement, and storage of goods and services
E. the management of upstream networks of suppliers
Walmart's low-price strategy enables it to:
A. Combine form, time, and place.
(B) Operate efficiently to reduce costs and increase profitability.
C. Utilize economies of scale to charge more.
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