Scm 470 exam 1 - Study guides, Class notes & Summaries

SCM 470 Exam 1 Verified Solutions atasu 2010 [1]: What do the authors note is a common belief that sales and marketing managers have about the effect of remanufactured products on sales and profits? Why do they hold this belief? Remanufacturing reduces profits because remanufactured products cannibalize sales of new products. Source of this justification: "gut feelings", "assumptions", "it is known". [2]: What is a canonical example of a perfect substitute in a remanu...

SCM 470 Exam #1 Random Variable A mathematical device which represents a numerical quantity whose value is uncertain and may differ every time we observe it. Most often classified as *discrete* or *continuous*. Sample Space The possible values that a random variable can take. Ex. When tossing a coin, our sample space is {Heads, Tails} Probability Density Functions (PDF) Describes the likelihood of observing different values in a random variable's sampling space. Cumulative Dis...

OM 470 - Supply Chain Management - Exam 1 All Answers Correct What is a supply chain? ️All stages involved, directly or indirectly, in fulfilling a customer request Includes manufacturers, suppliers, transporters, warehouses, retailers, and customers Within each company, the supply chain includes all functions involved in fulfilling a customer request (product development, marketing, operations, distribution, finance, customer service) What is Supply Chain Management? ️Supply Cha...