BUAD 331 Final Exam Questions & Answers 100% Accurate!

Paradigm Change for business competition - ANSWERForm, time, place, exchange --> Creating value Porter Chain Value - ANSWERInbound logistics, operations, outbound logistics, sales, service (primary activities) -Supplier base--> Integrated enterprise --> market/ distribution network Integrated Supply Chain Management - ANSWERTraditional business coordination with particular organization within the supply chain for purposes of improving long term performances of individual enterprises and supply chain as a whole Integrating across Great Divide - ANSWERDemand facing and supply facing processes -One side focuses on needing products immediately and are product focused, economics of scale and scope, deal with the manufacturing. -The other side deals with different products needs in a set time, and are customer focused and relevance *issue between marketing integration and manufacturing* Supply Competitive Advantage - ANSWERProviding better service and availability to customer needs, through a lower cost/asset --> Increase goal value and productivity advantage Logistics - ANSWERProcess of strategically managing procurement, movement of materials, parts and inventory through the organization and marketing channels to maximize cost efficient fulfillment through orders Supply Chain Manageme - ANSWERManagement of upstream and downstream relationships with suppliers and customers to deliver superior customer value at a less cost to the supply chain as a whole **$$$$ low cost**** Ways to gain competitive advantage - ANSWER-Responsiveness; customer wants -Reliability; doing it the same each time - Resilience; problem solving ability -Relationships; with customers Supply Chain Management Role in the Marketing Mix - ANSWERProvide customers with products that they want, when they want it, in the right condition, right place -Focuses more on new customers rather than keeping the old ones