BUAD 331 Exam 4 With Most Brilliant Questions And Answers
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Course
BUAD 331 4
Institution
BUAD 331 4
Logistics Management - CORRECT ANSWER-is the part of SCM that plans,
implements, and controls the efficient, effective, forward and reverse flow and storage of
goods, services, and related information between the point of origin and the point of
consumption in order to meet customer requireme...
BUAD 331 Exam 4 With Most Brilliant
Questions And Answers
Logistics Management - CORRECT ANSWER-is the part of SCM that plans,
implements, and controls the efficient, effective, forward and reverse flow and storage of
goods, services, and related information between the point of origin and the point of
consumption in order to meet customer requirements
Supply Chain Management - CORRECT ANSWER-the management of upstream and
downstream relationships with suppliers and customers in order to deliver superior
customer value at less cost to the supply chain as a whole
Customer Value - CORRECT ANSWER-= perception of benefits / total cost of
ownership
What overarching goal should drive the design and execution of any company's supply
chain? - CORRECT ANSWER-achieving customer value
Customer Service - CORRECT ANSWER-actions that provide the time and place utility
in the transfer of goods and services
What are the 3 components of customer service? - CORRECT ANSWER-1) pre-
transactional
2) transactional
3) post transactional
Default Customer Service strategy - CORRECT ANSWER-everyone gets the same
level of service
- "average" supplier to key accounts
- superior supplier to other customers
- high inventories
- excessive expediting
Tailored Customer Service strategy - CORRECT ANSWER-customer and/or product
segments get different levels of service
- stronger franchise with best customers
- lower logistics costs
- higher inventory turns
- reduced expediting
,How do you create financial value in an organization? - CORRECT ANSWER-Return on
Asset improvement
The Perfect Order - CORRECT ANSWER-= # of orders perfect on all elements / total
orders
"if you ain't perfect, you've failed"
Walmart elements examples: - CORRECT ANSWER-
Capital costs - CORRECT ANSWER-investment ($) in inventory
interest/financing expenses
Service costs - CORRECT ANSWER-insurance on inventory
taxes on inventory
Storage Space costs - CORRECT ANSWER-manufacturing plant warehouses
company owned warehouses
rented warehouses
public warehouses
What is the Cost of Inventory? - CORRECT ANSWER-capital costs
service costs
storage space costs
inventory risk costs
ABC and ABM are... - CORRECT ANSWER-allocation techniques that make it possible
to more precisely assess the segment profitability
Allocations are more... - CORRECT ANSWER-realistic than traditional cost accounting
which relies on sales volume or direct labor hours to allocate "overhead"
Shape your demand to... - CORRECT ANSWER-match your supply
A (BLANK) must be taken when maximizing overall company competitiveness -
CORRECT ANSWER-holistic financial perspective
Benchmarking - CORRECT ANSWER-the comparison of metrics and processes with
externally focused best practice performance to introduce change and aspire to superior
performance standards
, Purpose of benchmarking - CORRECT ANSWER-- to answer the question of "are we
competitive?"
- to establish the ground for creative breakthroughs and move away from tradition
- to provide externally-oriented performance input that is forward looking
Conventional change processes present... - CORRECT ANSWER-solutions for a better
future without thoroughly diagnosing the present problem
- as a result, personnel recognize the risk of change instead of the risk of not changing
Industry comparision - CORRECT ANSWER-are we competitive?
Internal comparision - CORRECT ANSWER-can we do it better?
"Best in Class" comparision - CORRECT ANSWER-can we do it differently?
Apply the right... - CORRECT ANSWER-resources (get support from top management)
Involve management from the (BLANK) under review - CORRECT ANSWER-functional
areas
Budget sufficient (BLANK) and (BLANK) to collect the necessary data - CORRECT
ANSWER-time
money
Analysis must be (BLANK) to relevant strategic issues - CORRECT ANSWER-related
Analysis must drive what 3 things? - CORRECT ANSWER-concrete actions
concrete plans
performance targets
Benchmarking must be viewed as both... - CORRECT ANSWER-1) a way to improve
existing processes and internal operations
2) learn new ways to do things
The using the supply chain implications of time, what can you predict most accurately? -
CORRECT ANSWER-where you will be next week at this time
Planning Horizon and Uncertainty - CORRECT ANSWER-- too much results in
inventory
- too little results in customer service
The time it takes to procure, make and deliver the finished product to a customer is
often... - CORRECT ANSWER-longer than the time the customer is prepared to wait
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