MGSC 487 EXAM 1 – GAFFNEY EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Terms in this set (128)
In today's "sourcing sandbox" customers
_________ are at the center
In a supply chain, information flows backward; forward
__________ from the customers to the
suppliers/raw materials, and
materials and products flow
____________ from the materials stage to
the customers
Supply Chain: the integration of sequentially related firms'
inbound and outbound logistics, together with
operations (manufacturing and service), and
supporting information systems
,Profit Leverage Effect the increase in corporate profit obtained by
decreasing purchase spend; measured by
determining the increase in profit obtained by a
decrease in purchase spend (ex. in the book
shows that in order to achieve increased revenue
of $6mil, the company could either increase sales
by 75% or decrease purchase spend by 10%);
more realistic in firms that have neglected supply
and given sales a lot of attention already
better to dec spending than inc sales
Return on Assets (ROA) displayed as a percentage; an indicator of how
profitable a company is relative to its total assets
- gives an idea as to how efficient management is
at using its assets to generate earnings (higher is
better, in terms of attractiveness to investors)
__________________________ as a percentage dollars spent with suppliers
of total revenues is a good indicator
of supply's financial impact
Increased ______________ over the last outsourcing
decade has increased sourcing
spend significantly
In almost all manufacturing supply; 50-80%
organizations, the __________ area
represents by far the largest single
category of spend, ranging from
about _____________ of revenue
Collectively, private and public $29 trillion (about 1.5 the combined GDPs)
organizations in North America
spend at least ________________ with
suppliers
, Evolution of the Supply Function: clerical and tactical, focused on policies and
Early 1900s procedures
key challenges: availability of supply and cost
management
Evolution of the Supply Function: strategy orientation, global supply chains,
Early 21st Century executive level leadership
key challenges: sustainability, security,
globalization, risk management
Supply in railroads in the 1900s: recognized as an important function, regarded
clerical by most firms as primarily a clerical activity
(ADMINISTRATIVE)
Supply in WWII factories: market market was pretty much unlimited.. not
unlimited dependent on sales, so ability to obtain materials,
supplies, and services from suppliers became the
key determinant of organizational success;
attention was given to the organization, policies,
and procedures of the supply function; emerged
as a recognized managerial activity
(TRANSPORTATION)
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Terms in this set (128)
In today's "sourcing sandbox" customers
_________ are at the center
In a supply chain, information flows backward; forward
__________ from the customers to the
suppliers/raw materials, and
materials and products flow
____________ from the materials stage to
the customers
Supply Chain: the integration of sequentially related firms'
inbound and outbound logistics, together with
operations (manufacturing and service), and
supporting information systems
,Profit Leverage Effect the increase in corporate profit obtained by
decreasing purchase spend; measured by
determining the increase in profit obtained by a
decrease in purchase spend (ex. in the book
shows that in order to achieve increased revenue
of $6mil, the company could either increase sales
by 75% or decrease purchase spend by 10%);
more realistic in firms that have neglected supply
and given sales a lot of attention already
better to dec spending than inc sales
Return on Assets (ROA) displayed as a percentage; an indicator of how
profitable a company is relative to its total assets
- gives an idea as to how efficient management is
at using its assets to generate earnings (higher is
better, in terms of attractiveness to investors)
__________________________ as a percentage dollars spent with suppliers
of total revenues is a good indicator
of supply's financial impact
Increased ______________ over the last outsourcing
decade has increased sourcing
spend significantly
In almost all manufacturing supply; 50-80%
organizations, the __________ area
represents by far the largest single
category of spend, ranging from
about _____________ of revenue
Collectively, private and public $29 trillion (about 1.5 the combined GDPs)
organizations in North America
spend at least ________________ with
suppliers
, Evolution of the Supply Function: clerical and tactical, focused on policies and
Early 1900s procedures
key challenges: availability of supply and cost
management
Evolution of the Supply Function: strategy orientation, global supply chains,
Early 21st Century executive level leadership
key challenges: sustainability, security,
globalization, risk management
Supply in railroads in the 1900s: recognized as an important function, regarded
clerical by most firms as primarily a clerical activity
(ADMINISTRATIVE)
Supply in WWII factories: market market was pretty much unlimited.. not
unlimited dependent on sales, so ability to obtain materials,
supplies, and services from suppliers became the
key determinant of organizational success;
attention was given to the organization, policies,
and procedures of the supply function; emerged
as a recognized managerial activity
(TRANSPORTATION)
