Cost efficiencies - Study guides, Class notes & Summaries

UTK: BUAD 331 Exam 1 Complete (answers updated fall 2022/23.) ____________ the chain facilitates better strategic alignment between supply chain operations. A. Breaking B. Sharing C. Bending D. Spreading A firm is a recognized cost leader but has a strategic goal to become a cost and service leader. What is one initiative that could be planned and implemented to achieve this goal? A.Increase sales calls to all existing customers. B.Increase capacity utilization to gain economies of ...

TOPIC ONE - Answer OPERATIONS Define the operations function - Answer refers to business processes that transform and add value to inputs to produce outputs, part of the value chain Define the operations process - Answer Inputs - Transformation - Outputs (More Value then Inputs) Define strategic role of operations management - Answer 'affecting all key business areas in the longer term' - meeting key objectives of profit maximisation and competitive advantage What is Michae...

What Act shaped how commercial insurance carriers approached the concepts of paying for medical care? - ANSWER-HMO Act of 1973 ACA - ANSWER-Affordable Care Act HMO (Health Maintenance Organization) - ANSWER-The organization is both the insurer and provider of a set of defined services. Patients within this network must use an in-network provider for their services to be covered. Capitation Payment - ANSWER-part of prospective payment in which healthcare providers receive fixed monthly p...

What is Fintech? correct answers Use of technology to solve financial services problems Financial Services correct answers ◦Commercial Banking ◦Lending ◦Payments ◦Investment Banking ◦Wealth Management ◦Insurance and Credit ◦Financial Regulation Application Programming Interface (API) correct answers A software interface enabling two or more computer programs to communicate Artificial Intelligence (AI) and Machine Learning correct answers Use of computers to detect tr...

ec Academy Questions and Answers Already Passed How have most manufacturing and consumer goods companies historically managed their granular specification details of their packaging? Purpose-built specification software Spreadsheets and PDFs CRM software Yellow sticky notes Spreadsheets and PDFs Which department typically benefits from product and packaging specifications? Procurement Quality Assurance New Product Development Packaging All of the above All of the above Select all that ...

what is economics? - - the study of how people choose to allocate their scare resources - what and how choices are made - how the market system functions inflation - all costs of goods and services increase demand-pull inflation - incomes increase but supply remains constant cost-push inflation - production costs increase therefore costs increase recession - - slowdown in economic activity - 2 consecutive quarters of negative economic growth as measured by a country's GDP economies of s...

WGU D080 Q&A Graded A+ Latest Update 2023/2024 Globalization Worldwide interconnections in virtually every sphere of activity including the spread of products, technology, information, and job opportunities. Globalization can result in blurred boundaries between nations, organizations, and investors trade The action of buying and selling goods and services capital Financial assets such as funds but also equipment, facilities, and other means of production outsource To obtain...

What is Supply Chain Management? : the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) : It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competitive advantage: : requires delivering more value and satisfaction t...

SCMN 2150 Brian Gibson test 1 Questions and Answers Already Passed What is Supply Chain Management? the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Competi...

what is scm : The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? : suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? : the consumer What does SCM involve? : all the activities that take place to get a product in your hands - from the time of raw materials extraction to the minute you pull out your credit card and...