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OMGT 6213 - Operations and Supply Chain Management Midterm Comprehensive Questions (Frequently Tested) and Complete Solutions Graded A+ ECU

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OMGT 6213 - Operations and Supply Chain Management Midterm Comprehensive Questions (Frequently Tested) and Complete Solutions Graded A+ ECU

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OMGT 6213 - Operations and
Supply Chain Management
Midterm Comprehensive Questions
(Frequently Tested) and Complete
Solutions Graded A+ ECU
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Operations and Supply Chain Management (OSCM) - Answer: the
design, operation, and improvement of the systems that create and
deliver the firm's primary products and services

,Operations - Answer: manufacturing and service processes that are
used to transform the resources into products



Supply Chain - Answer: processes that move information and material
to and from the firm



Basic Principles that Guide the Design of Transformation Processes -
Answer: Inputs > Transformation Process > Outputs



Planning - Answer: processes needed to operate an existing supply
chain



Sourcing - Answer: selection of suppliers that will deliver the goods and
services needed to create the firm's product



Making - Answer: producing the major product or service



Delivering - Answer: logistics processes such as selecting carriers,
coordinating the movement of goods and information, and collecting
payments from customers

, Returning - Answer: receiving worn-out, excess, and/or defective
products back from customers



Upstream - Answer: activities or firms positioned earlier in the supply
chain



Downstream - Answer: activities or firms positioned later in the supply
chain



First-tier supplier - Answer: a supplier that provides products or
services directly to a firm



Second-tier supplier - Answer: A supplier that provides products or
services to a firm's first-tier supplier.



Efficiency - Answer: doing something at the lowest possible cost



Effectiveness - Answer: doing the right things to create the most value
for the company



Value - Answer: value = quality / price

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