331 final exam stuvia - Study guides, Class notes & Summaries

SCM Contributes to value creation: - ANSWERIn its most basic form, a business makes a promise to customers that it will fulfill a need by providing a good or service, and then it delivers on that promise. Business organizations provide value only when they identify demand and fulfill that demand by providing a good or service. These three types of value involve fulfilling a customer need - ANSWER(1) with the right form (2) at the right time (3) at the right place—essentially, the role pla...

Why might a company consider expanding its supply chain internationally? - ANSWERAll of the above (To obtain access to lower-cost suppliers To take advantage of a skilled labor base in another country To support international expansion of sales To fend off competition from an international competitor) What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular w...

Which Economic utility is not a reason for students to buy textbooks from Amazon? - ANSWERForm Which of the following is NOT a characteristic of an efficient supply chain? Supply Predicable Demand Maximize performance and minimize cost Generate high turns to minimize inventory Select primarily for speed, flexibility, and quality Select primarily for cost and quality - ANSWERSelect primarily for speed, flexibility, and quality How has Zara utilized a vertically integrated business mode...

T/F: Supply chain management has a widely accepted definition that does not vary substantially between countries - ANSWERFalse What type of company will likely work with international supply chains? Large multinational company Regional company Small business All of the above - ANSWERall of the above T/F: Labor laws in the United States are generally seen to be more-friendly to the international worker than those in most other countries. - ANSWERfalse Why might a company consider e...

regional economic integration - ANSWERAgreements among countries in a geographic region to reduce and ultimately remove tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other Free Trade Area - ANSWERA group of countries committed to removing all barriers to the free flow of goods and services between each other Common external tariff - ANSWERThe policy of customs unions in which the members adopt the same tariffs toward nonmembers ...

Why might a company consider expanding its supply chain internationally? - ANSWERTo obtain access to lower-cost suppliers; To take advantage of a skilled labor base in another country; To support international expansion of sales; To fend off competition from an international competitor What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular with companies t...

How can purchasing add value to an organization? A. By ensuring an uninterrupted flow of materials or services B. By reducing the total cost of products C. By collaborating with other areas such as logistics on supplier location decisions. D. By increasing revenue through supplier innovation and new product launch E. All of the above - ANSWERAll of the above Manufacturing and service operations are primarily about creating which form of utitly? Form Time Place Electric - ANSWERForm ...

Why might a company consider expanding its supply chain internationally? - ANSWERAll of the above What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular with companies today? - ANSWERRegional strategy that groups countries into clusters What is the most common way that countries agree to increase trade? - ANSWERThrough negotiating bilateral or multilateral ...

Why might a company consider expanding its supplier chain internationally? -To obtain access to lower-cost suppliers -To take advantage of a skilled base in another country -To support international expansion of sales -To fend off competition from an international competitor - ANSWERAll of the above What is the biggest cause of difficulties in working with another culture? - ANSWERDifferent ways of making decisions and approaching business Which supply chain strategy is most popular wi...

Which economic utility is NOT a reason for students to buy textbooks on A? - ANSWERForm You walk into Ted's Wicked Dive Shop and order a custom-designed diving mask that is fitted to the specific dimensions of your face. You are really pumped up about the purchase and expect delivery in 10 days. Two weeks later you call Ted and ask him where your mask is. It turns out the order was shipping in 9 days, but to another customer with the same name who lives in Nashville. What kind of value did T...