Answer Guide for Operations Management and Sustainable Supply chains
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Course
Supply chain management
Institution
Supply Chain Management
Supply chain - AnswersA global network of organizations and activities that supply a firm with goods and services
Ten strategic om decisions - Answers1. Design of goods and services
2. Managing quality
3. Process and capacity design
4. Location strategy
5. Layout strategy
6. Human resources a...
Answer Guide for Operations Management and Sustainable Supply Chains
Supply chain - AnswersA global network of organizations and activities that supply a
firm with goods and services
Ten strategic om decisions - Answers1. Design of goods and services
2. Managing quality
3. Process and capacity design
4. Location strategy
5. Layout strategy
6. Human resources and job design
7. Supply-chain management
8. Inventory management
9. Scheduling
10. Maintenance
Services - AnswersEconomic activities that typically produce an intangible product
(such as education, entertainment, lodging, government, financial, and health services)
productivity - Answersthe ratio of outputs (goods and services) divided by the inputs
(resources such as labor and capital)
Production - AnswersThe process of creating goods and services
Single factor productivity - Answersindicates the ratio of goods and services produced
(outputs) to one resource (input)
multifactor productivity - AnswersIndicates the rate of goods and services produced
(outputs) to many resources (inputs)
Productivity variables - Answersthe three factors critical to productivity improvement -
labor, capital, and the art and science of management
Critical variables in enhancing productivity - Answerslabor, capital, management
Knowledge society - Answersa society in which much of the labor force has migrated
from manual work to work based on knowledge
Industry 4.0 - AnswersThe fourth industrial revolution with widespread real-time
digitalization
Stakeholders - AnswersThose with a vested interest in an organization, including
customers, distributors, suppliers, owners, lenders, employees, and community
members.
Operations managment - AnswersA specialized area in management that converts or
transforms resources (including human resources) into goods and services.
service sector - AnswersThe sector of the economy that provides services--such as
health care, banking, and education--contrast to the sector that produces goods.
Mission - Answersthe purpose or rationale for an organization's existence
Strategy - Answershow an organization expects to achieve its missions and goals
Competitive advantage - Answersthe creation of a unique advantage over competitors
differentation - Answersdistinguishing the offerings of an organization in a way that the
customer perceives as adding value
Experience Differentiation - AnswersEngaging a customer with a product through
imaginative use of the five senses, so the customer "experiences" the product
Resources view - Answersa method managers use to evaluate the resources at their
disposal and manage or alter them to achieve competitive advantage
, Value-chain analysis - Answersa way to identify those elements in the product/service
chain that uniquely add value
Five forces model - Answersa method of analyzing the five forces in the competitive
environment
SWOT analysis - Answersa method of determining internal strengths and weaknesses
and external opportunities and threats
Key success factors - Answersactivities or factors that are key to achieving competitive
advantage
Core competencies - Answersa set of outstanding skills, talents, and capabilities that
differentiates and organization from its competition.
Activity map - Answersa graphical link of competitive advantage, KSFs, and supporting
activities
Outsourcing - Answerstransferring a firm's activities that have traditionally been internal
to external suppliers
Theory of comparative advantage - Answersa theory which states that countries benefit
from specializing in (and exporting) goods and services in which they have relative
advantage, and they benefit from importing goods and services in which they have a
relative disadvantage
International business - Answersa firm that engages in cross-border transactions
Multinational corporation - Answersa firm that has extensive involvement in international
business, owning or controlling facilities in more than one country
Four international operations strategies - Answers•Global Strategy •Transnational
Strategy • International Strategy •Multidomestic Strategy
International strategy - Answersa strategy in which global markets are penetrated using
exports and licenses
multidomestic strategy - Answersa strategy in which operating decisions are
decentralized to each country to enhance local responsiveness
Global Strategy - Answersa strategy in which operating decisions are centralized and
headquarters coordinates the standardization and learning between facilities
transational strategy - AnswersA strategy that combines the benefits of global scale
efficiencies with the benefits of local responsiveness
Treacy and Wiersema's Strategy Framework - Answersoperational excellence,
customer intimacy, product leadership
Product leadership - AnswersPremium market prices due to customer demand/
experience. Constant stream of leading-edge products
Porter's Strategies to competitive advantage - Answerscost leadership, differentiation,
and focus
Operational Excellence - AnswersUse of automation, streamlining of operations to
reduce costs, wait times, reliable service, etc. Focus on price and convenience
Customer Intimacy - AnswersUnique range and personalization of services products
and services. Focus on long term customer loyalty
Porter's Five Forces - Answersthreat of entry, threat of substitute, supplier power, buyer
power, and competitive rivalry
Threat of new entry - AnswersTime and cost of entry
Specialist knowledge
Economies of scale
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