buad 331 final exam Questions & Answers 100% Correct.

How can purchasing add value to an organization? A. By ensuring an uninterrupted flow of materials or services B. By reducing the total cost of products C. By collaborating with other areas such as logistics on supplier location decisions. D. By increasing revenue through supplier innovation and new product launch E. All of the above - ANSWERAll of the above Manufacturing and service operations are primarily about creating which form of utitly? Form Time Place Electric - ANSWERForm Creating partnerships that provide access to unique and valuable resources that can serve as the basis for outcompeting other businesses in the same sector in the long term is the idea behind: A. the relational view of competition. B. the transactional view of competition. C. partnership management. D. supplier management. - ANSWERthe relational view of competition. Why does manufacturing often have a high level of emphasis on the supply chain? It usually employs many people It is often the main constraint in the supply chain It is often capital intensive All of the above - ANSWERAll of the above Warehouses play a critical role in the supply chain system by: Enabling diseconomies of scale in sourcing, manufacturing, and transportation Preventing the consolidation of materials from multiple suppliers Providing an inflexible and high-cost capability for customizing products Placing a buffer between supply and demand - ANSWERplacing a buffer between supply and demand Ted wanted to paint his upstairs hallway. He selected 4 different colors of brown/ beige and chose "Puppy Paws," which Lowe's mixed for him on site. This method of order fulfillment is an example of ________. A. Time postponement B. Place postponement C. Logistics postponement D. Manufacturing or form postponement - ANSWERManufacturing or form postponement Is a part of the supply chain involved in managing the forward and reverse flow and storage goods, services, and related information between the point of origin and the point of consumption to meet customer requirements? Logistics Procurement Transportation Negotiation - ANSWERLogistics ____________ added time is the percent of total cycle time that a product or service may spend waiting to have form, time, or place value added to it. Non-value Late shipment Pr