APICS CPIM MODULE 1
Strategic plan – answer examines "how to marshal and determine actions to support the
mission, goals, and objectives of an organization
Business plan - answer a statement of long range strategy and revenue, cost, and profit
objectives usually accompanied by budgets, a projected balance sheet, and a cash flow
(source and application of funds) statement
Manufacturing planning hierarchy – answer SMR, MPR, DSP, ECO
Competitive advantage - answer the advantage a company has over its rivals in
attracting customers and defending against competitors
Key success factors - answer the product attributes, organizational strengths, and
accomplishments with the greatest impact on future success in the marketplace - that
will create a sustainable competitive advantage and then plots a course to ensure those
factors are in place
strategy - answeridentifies how the company will function in its environment. Specifies
how to satisfy customers, how to grow the business, how to compete in its environment,
how to manage the organization and develop capabilities within the business and how
to
vision - answerthe shared perception of the organizations future - what the organization
will achieve and a supporting philosophy - must be supported by strategic objectives,
strategies, and action plans to move it in the desired direction
mission - answerthe overall goals for an organization set within the parameters of the
business scope
corporate culture - answerthe set of important assumptions that members of the
company share - a system of shared values about what is important and beliefs about
how the company works - these common assumptions then influence the ways the
company operates
performance objectives - answermeasurements that enable the firm to monitor whether
or not the firms strategy is being accomplished - thus the measurement should be
aligned to strategy
global measurements - answerjudge the performance of the system as a whole, relate
to the long term goals of a business, and could include measures related to profitability,
market share, growth, and productivity
,key performance indicator - answera financial or non financial measure that is used to
define and assess progress toward specific organizational goals and typically is tied to
an organizations strategy and business stakeholders
local measures - answerthe set of measurements that relates to a resource, operation,
process, or part...for example, errors per printed page, departmental efficiency, and
volume discounts
performance measurement system - answera system for collecting measuring and
comparing a measure to a standard for a specific criterion for an operation, item, good,
service, business, etc
balanced scorecard - answera list of financial and operational measurements used to
evaluate organizational or supply chain performance - it formally connects overall
objectives, strategies, and measurements
strategic drivers - answerfactors that influence business unit and manufacturing units
may be external factors such as potential markets that are not being served (or are
being underserved) by competitors or intense levels of competition that will require
close control of costs
PESTEL - answeracronym used to describe the focus of an analysis of an organizations
external, or macro, environment - political, economic, sociocultural, technological,
environmental, and legal
macro environment - answerthe environment external to a business including
technological, economic, natural, and regulatory forces that marketing efforts cannot
control
five-forces model of competition - answera methodology for analyzing competitive
pressures in a market and assessing the strength and importance of each of those
pressures
competitive analysis - answeran analysis of a competitor that includes its strategies,
capabilities, prices, and costs
resource - answeranything that adds value to a good or service in its creation,
production, or delivery
SWOT analysis - answeran analysis of the strengths, weaknesses, opportunities, and
threats of and to an organization
value chain - answerthe functions within a company that add value to the goods or
services that the organization sells to customers and for which it receives payment
, trading partners - answerany organization external to the firm that plays a integral role
within the supply chain community and whose business fortune depends on the success
of the supply chain community
value chain analysis - answeran examination of all links a company uses to produce
and deliver its products and service, starting from the origination point and continuing
through delivery to the final customer
product life cycle - answerthe stages a new product goes through from beginning to end
product positioning - answerthe marketing effort involved in placing a product in a
market to serve a particular niche or function
make to order - answera production environment where a good or service can be made
after receipt of a customers order - the final product is usually a combination of standard
items and items custom-designed to meet the special needs of the customer
engineer to order - answerproducts whose customer specifications require unique
engineering design, significant customization, or new purchased materials - each
customer order results in unique set of part numbers, bills of material, and routings
assemble to order - answera production environment where a good or service can be
assembled after receipt of a customer's order - the key components (bulk, semi-
finished, intermediate, subassembly, fabricated, purchased, packing) used in the
assembly or finishing process are planned and usually stocked in anticipation of a
customer order - receipt of an order initiates assembly of the customized product - this
strategy is useful
make to stock - answera production environment where products can be and usually
are finished before receipt of a customer order - customer orders are typically filled from
existing stocks and production orders are used to replenish those stocks
functional product - answerhaving a low profit margin and a predictable demand
core process - answerthat unique capability that is central to a company's competitive
strategy
core competencies - answerbundles of skills or knowledge sets that enable a firm to
provide the greatest level of value to its customers in a way that is difficult for
competitors to emulate and that provides for future growth. Core competencies are
embodied in the skills of the workers and in the organization. They are developed
through collective learning, communication, and commitment to work across levels and
functions in the organization and with the customers and suppliers. For example, a core
competency could be the capability of a firm to coordinate and harmonize diverse
production skills and production technologies
Strategic plan – answer examines "how to marshal and determine actions to support the
mission, goals, and objectives of an organization
Business plan - answer a statement of long range strategy and revenue, cost, and profit
objectives usually accompanied by budgets, a projected balance sheet, and a cash flow
(source and application of funds) statement
Manufacturing planning hierarchy – answer SMR, MPR, DSP, ECO
Competitive advantage - answer the advantage a company has over its rivals in
attracting customers and defending against competitors
Key success factors - answer the product attributes, organizational strengths, and
accomplishments with the greatest impact on future success in the marketplace - that
will create a sustainable competitive advantage and then plots a course to ensure those
factors are in place
strategy - answeridentifies how the company will function in its environment. Specifies
how to satisfy customers, how to grow the business, how to compete in its environment,
how to manage the organization and develop capabilities within the business and how
to
vision - answerthe shared perception of the organizations future - what the organization
will achieve and a supporting philosophy - must be supported by strategic objectives,
strategies, and action plans to move it in the desired direction
mission - answerthe overall goals for an organization set within the parameters of the
business scope
corporate culture - answerthe set of important assumptions that members of the
company share - a system of shared values about what is important and beliefs about
how the company works - these common assumptions then influence the ways the
company operates
performance objectives - answermeasurements that enable the firm to monitor whether
or not the firms strategy is being accomplished - thus the measurement should be
aligned to strategy
global measurements - answerjudge the performance of the system as a whole, relate
to the long term goals of a business, and could include measures related to profitability,
market share, growth, and productivity
,key performance indicator - answera financial or non financial measure that is used to
define and assess progress toward specific organizational goals and typically is tied to
an organizations strategy and business stakeholders
local measures - answerthe set of measurements that relates to a resource, operation,
process, or part...for example, errors per printed page, departmental efficiency, and
volume discounts
performance measurement system - answera system for collecting measuring and
comparing a measure to a standard for a specific criterion for an operation, item, good,
service, business, etc
balanced scorecard - answera list of financial and operational measurements used to
evaluate organizational or supply chain performance - it formally connects overall
objectives, strategies, and measurements
strategic drivers - answerfactors that influence business unit and manufacturing units
may be external factors such as potential markets that are not being served (or are
being underserved) by competitors or intense levels of competition that will require
close control of costs
PESTEL - answeracronym used to describe the focus of an analysis of an organizations
external, or macro, environment - political, economic, sociocultural, technological,
environmental, and legal
macro environment - answerthe environment external to a business including
technological, economic, natural, and regulatory forces that marketing efforts cannot
control
five-forces model of competition - answera methodology for analyzing competitive
pressures in a market and assessing the strength and importance of each of those
pressures
competitive analysis - answeran analysis of a competitor that includes its strategies,
capabilities, prices, and costs
resource - answeranything that adds value to a good or service in its creation,
production, or delivery
SWOT analysis - answeran analysis of the strengths, weaknesses, opportunities, and
threats of and to an organization
value chain - answerthe functions within a company that add value to the goods or
services that the organization sells to customers and for which it receives payment
, trading partners - answerany organization external to the firm that plays a integral role
within the supply chain community and whose business fortune depends on the success
of the supply chain community
value chain analysis - answeran examination of all links a company uses to produce
and deliver its products and service, starting from the origination point and continuing
through delivery to the final customer
product life cycle - answerthe stages a new product goes through from beginning to end
product positioning - answerthe marketing effort involved in placing a product in a
market to serve a particular niche or function
make to order - answera production environment where a good or service can be made
after receipt of a customers order - the final product is usually a combination of standard
items and items custom-designed to meet the special needs of the customer
engineer to order - answerproducts whose customer specifications require unique
engineering design, significant customization, or new purchased materials - each
customer order results in unique set of part numbers, bills of material, and routings
assemble to order - answera production environment where a good or service can be
assembled after receipt of a customer's order - the key components (bulk, semi-
finished, intermediate, subassembly, fabricated, purchased, packing) used in the
assembly or finishing process are planned and usually stocked in anticipation of a
customer order - receipt of an order initiates assembly of the customized product - this
strategy is useful
make to stock - answera production environment where products can be and usually
are finished before receipt of a customer order - customer orders are typically filled from
existing stocks and production orders are used to replenish those stocks
functional product - answerhaving a low profit margin and a predictable demand
core process - answerthat unique capability that is central to a company's competitive
strategy
core competencies - answerbundles of skills or knowledge sets that enable a firm to
provide the greatest level of value to its customers in a way that is difficult for
competitors to emulate and that provides for future growth. Core competencies are
embodied in the skills of the workers and in the organization. They are developed
through collective learning, communication, and commitment to work across levels and
functions in the organization and with the customers and suppliers. For example, a core
competency could be the capability of a firm to coordinate and harmonize diverse
production skills and production technologies
