SCM 413 Midterm Maier Questions and
Answers Verified by Experts
What elements does the perfect order consist of? - Delivered complete, delivered on time,
delivered at the right location, delivered in perfect condition, delivered with complete and
accurate documentation
- Requires the total order cycle performance w/ zero defects
When perceived performance > expectations what occurs Satisfaction
Low expectations result in.... Constant satisfaction
What are value-added services - Unique or specific activities to enhance their efficiency,
effectiveness, and relevancy
What is Customer Relationship Management (CRM) - Process for improving
performance of a business by better understanding and anticipating the wants and needs of
customers
, What is good customer service in terms on inventory? having the right product at the
right time to meet customer demand
companies should carry inventory insurance for what incidents? lost sales, loss of a
customer, production stoppage
the two main inventory question How many units to carry
How often to reorder
What is the overall objective of inventory? minimize total landed costs with the highest
level of customer service
What are the functions of inventory? 1. Trade off inventory for: lower transportation
costs, lower production cost, discounted quantity pricing
2. Balance supply & demand
What are the 6 inventory classifications? 1. Normal
2. Safety/ Buffer
Answers Verified by Experts
What elements does the perfect order consist of? - Delivered complete, delivered on time,
delivered at the right location, delivered in perfect condition, delivered with complete and
accurate documentation
- Requires the total order cycle performance w/ zero defects
When perceived performance > expectations what occurs Satisfaction
Low expectations result in.... Constant satisfaction
What are value-added services - Unique or specific activities to enhance their efficiency,
effectiveness, and relevancy
What is Customer Relationship Management (CRM) - Process for improving
performance of a business by better understanding and anticipating the wants and needs of
customers
, What is good customer service in terms on inventory? having the right product at the
right time to meet customer demand
companies should carry inventory insurance for what incidents? lost sales, loss of a
customer, production stoppage
the two main inventory question How many units to carry
How often to reorder
What is the overall objective of inventory? minimize total landed costs with the highest
level of customer service
What are the functions of inventory? 1. Trade off inventory for: lower transportation
costs, lower production cost, discounted quantity pricing
2. Balance supply & demand
What are the 6 inventory classifications? 1. Normal
2. Safety/ Buffer
