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SCM 303 Exam 1 MSU Questions And 100% Correct Answers (A+)
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SCM 303 Exam 1 MSU Questions And 100% CorrectAnswers (A+)
· TPE-TCO-Life refers to: - ANSWER A tradeoff of concerns
corporate strategy - ANSWER overall mission and target businesses
corporate strategy covers - ANSWER Long time horizon
.•Overall values, direction and goals
.•Acquisitions and divestitures
.•Performance metrics.•
Risk management
· For our class and enterprise risk management, and "enterprise" could be: - ANSWER
any entity or group
· "Amazonization" is: - ANSWER the shift to online ordering and direct delivery to a
business or home
· The industry 4.0 focus is on: - ANSWER o Advancing from computer automation to
cyber physical systems
· Value: - ANSWER o the amount buyers are willing to pay (measured by total revenue
which is price and volume) for what a firm provides to them
· Integrated Supply Chain Management is: - ANSWER o the consideration of all supply
chain activities into one seamless system
,· Inbound Logistics refers to: - ANSWER o activities that are associated with receiving,
storing and disseminating inputs to the product. Examples include materials handling,
warehousing, inventory control, vehicle scheduling and returning to suppliers.
· Some examples of cross functional activities include: - ANSWER o risk, quality,
sustainability
· A company strategy is defined and decided by: - ANSWER o Customers and individuals
· Identify which aspects of an operations management system are affected by
infrastructural decisions. - ANSWER o Staff o Production planning and control o Process
innovation
· Match the characteristics with goods. - ANSWER o Goods are tangible.
o Goods can be inventoried.
o Goods have long lead times.
· Match the terms with the correct definition. - ANSWER o A process is a system of
activities that transform inputs to valuable outputs
· Explain historically why a set of factors related to improved technology and
infrastructure has shifted the attention of operations management to supply chains. -
ANSWER o Digital communication has accelerated information transactions for
planning, material movement tracking and financial needs. o Modern transportation is
faster, more reliable and more rapidly connects more remote locations to the global
network.
o Modern transportation networks open opportunities both for new suppliers & new
markets.
· Identify the aspects of an operations management system that are affected when a
manager makes structural decisions. - ANSWER o Facilities
, o Supply chain network
o Capacity
· Identify a difference between goods and services. - ANSWER o Quality assessment of
goods is easier than the quality assessment of services.
· True or false: Operations management is a process-oriented discipline - ANSWER o
True
Lean Operation - ANSWER is the operation that achieves maximum levels of efficiency
and effectiveness with a minimal amount of resource.
· True or false: China, Russia, and India are examples of countries where a move
towards more centralized control has increased economic growth. - ANSWER False
· Identify the true statements about goods and services. - ANSWER o Goods can be
made in advance and stored in inventory.
o Goods manufacturing operations can utilize inventory to smooth out imbalance
between production and demand.
o A producer of services must maintain adequate capacity to satisfy demand during
peak periods.
· Resources - ANSWER o Choice, Workers, machines, money, and knowledge
· Inputs - ANSWER o Materials, energy, money, people and data
· Outputs - ANSWER o Goods and Services
· Downstream stages of the supply chain are made up of layers of partners and
customers commonly referred to as _____. - ANSWER o Echelons
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