MIS Final Exam, Experiencing MIS Study Guide QUESTIONS AND ANSWERS 100% CORRECT!
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Course
MIS , Experiencing MIS
Institution
MIS , Experiencing MIS
contract manufacturing - ANSWER outsourcing production to third party firms, Too often, this means that in order to have the low-cost bid, contract firms skimp on safety, ignore environmental concerns, employ child labor, and engage in other ghastly practices.
information systems - ANSWER includ...
,MIS Final Exam, Experiencing MIS Study
Guide QUESTIONS AND ANSWERS 100%
CORRECT!
contract manufacturing - ANSWER outsourcing production to third party firms, Too
often, this means that in order to have the low-cost bid, contract firms skimp on safety,
ignore environmental concerns, employ child labor, and engage in other ghastly
practices.
information systems - ANSWER includes data, people, and procedures. It's critical for
managers to think about systems, rather than just technologies, when planning for and
deploying technology-enabled solutions.
zara's data gathering system - ANSWER Zara store management and staff use PDAs
and POS systems to gather and analyze customer preference data to plan future
designs based on feedback, rather than on hunches and guesswork.
limited run - ANSWER allow the firm to cultivate the exclusivity of its offerings,
encourage customers to buy right away and at full price, encourages customers to visit
often, reduce to a minimum the risk of making a mistake
Why is technology not equal to systems - ANSWER Zara excels by targeting technology
investment at the points in its value chain where it will have the most significant impact,
making sure that every dollar spent on tech has a payoff.
Contrast this with high-end fashion house Prada's efforts. While it's easy to get seduced
by technology, an information system (IS) is actually made up of more than hardware
and software. An IS also includes data used or created by the system, as well as the
procedures and the people who interact with the system.
Return on Investment (ROI) - ANSWER the amount earned from an expenditure
supply chain - ANSWER is the structuring and coordination of relationships and
activities across firms to deliver value in an information- and technology-intensive global
environment
, disintermediation - ANSWER reduction in the use of intermediaries between producers
and consumers
bullwhip effect - ANSWER variability in order size and order timing increase at each
stage up the supply chain, natural dynamic occurs due to multistage nature of supply
chain
- not related to erratic consumer demand
- reduces overall profitability of supply chain
how to stop the bullwhip effect? - ANSWER let all participants have access to
consumer-demand information
• Interorganizational information systems
are essential to sharing this data between firms
Vertical Integration & Limits - ANSWER • Limitations of Zara's Spain-centric, just-in-time
manufacturing model:
- If problems occur in northern Spain, Zara has little to nothing to fall back on
- The firm is potentially more susceptible to financial vulnerabilities as the Euro has
strengthened relative to the dollar
- Rising transportation costs are issue since they are vertically integrated (i.e. less
impact on horiz. firms)
• Zara's financial performance can also be impacted by broader economic condition
Gap crisis? - ANSWER Having the wrong items in its stores, Zara is twelve times faster
than Gap despite offering roughly ten times more unique products, Gap in Los Angeles
carries nearly the same product line as one in Milwaukee, each Zara store is stocked
with items tailored to the tastes of its local clientele
collaborative consumption - ANSWER wherein an individual takes possession of an
item for a period of time, then returns it for use by others
factors fueling the rise of collaborative consumption - ANSWER A prolonged, worldwide
economic recession and stagnant wages
Boosted consumer interest in low cost alternatives to products
and services
Encouraged laypeople to offer services for hire
Apps and social technologies help allay fears by collecting and sharing ratings, ensuring
payment
Environmental benefit
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