Exam (elaborations)
BUSI 3250: EXAM 3 QUESTIONS AND ANSWERS 2024
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BUSI 3250: EXAM 3 QUESTIONS AND ANSWERS 2024
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BUSI 3250: EXAM 3outsourcing is an increasingly common option for companies because it allows
them to: - ANSWERS-- focus scarce resources on their core competencies*
- leverage the skills of other companies to reduce costs & capital investments*
- improve flexibility & speed of response
- enhance quality
- provide other strategic benefits
- any part of the value chain can be outsourced
wholly owned subsidairy - ANSWERS-established in a country with low cost labor
or producing a product not made in the home country
overseas joint venture - ANSWERS-established where labor costs are lower to
supply components to home country
in-bond plant contractor - ANSWERS-home country plant send components to be
machined & assembled or just assembled by an independent contractor in an in-
bond plant
(taxes & duties are not paid for temporarily imported products)
,intra firm trade - ANSWERS-trade that occurs between a parent company & its
foreign affiliates
problems with global sourcing - ANSWERS-1. international freight, insurance &
packing
2. import duties
3. customhouse brokers fees
4. transit or pipeline inventory
5. cost of letter of credit
6. international travel & communication costs
7. company import specialists
8. reworking of products that do not meet specifications
just-in-time (JIT) - ANSWERS-- a balanced system in which there is little or no
delay time & idle in-process & finished goods inventory
- developed to enable firms to manage inventory cost & enhance quality
total quality management (TQM)* - ANSWERS-a companywide management
approach in which the entire organization is managed so that it excels on all
dimensions of product & services that are important to the customer
quality circle - ANSWERS-small work group that meets periodically to discuss ways
to improve its functional areas & the quality of the product
, bottleneck - ANSWERS-operation in a manufacturing system whose output sets
the limit for the entire systems output
(longest time in operations of supply chain)
six sigma* - ANSWERS-- means a maximum of 3.4 defects per million occurrences
- business management process for reducing defects & eliminating variation
5 steps of six sigma:* - ANSWERS-1. define
2. measure
3. analyze
4. improve
5. control
logistics - ANSWERS-managerial functions associated with the movement of
materials such as raw materials, work in progress or finished goods
logistics services include: - ANSWERS-- shipping
- warehousing
- distribution management
- brokerage services
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