Questions and Correct Answers | New
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Competitive Priorities - 🧠ANSWER ✔✔Cost - Material costs, production
costs (machine and labor), Packaging, transportation, storage costs,
Quality costs- (returns, warranties, repairs, rework, errors, time), Customer
service costs, other organization costs (marketing, finance, technology,
waste disposal, rent, insurance, legal, human resources).
Quality- Design quality (Toyota), Material & Production quality, Quality level
delivered, Consistent quality (McDonalds), Service quality (IPad).
,Speed/Time- Delivery time, On-time delivery
Flexibility- Product or Customization Flexibility, Volume flexibility, Mass
Customization (Both Customization and Volume) For example Oreganos
vs. Little Caesars.
Others: Design Flexibility, Materials/parts flexibility, facility flexibility,
Tools/Machinery Flexibility, employee flexibility, Service flexibility.
Red Robins vs. Mcdonalds
Productivity and Value - 🧠ANSWER ✔✔Productivity- Organizational
Perspective, What did I make (Outputs)/What was the cost (Inputs)
Value- Customer perspective, What do I get? (Quantity, quality, size..)/what
is the price? (Money, waiting time, warranty...)
Ex: Two cans of corns, price might not be the deciding factor.
,Supply Chain - 🧠ANSWER ✔✔Supply Chain Management is the Efficient
Integration of suppliers, transporters, manufacturers, warehouses, retailers,
and all other parties associated with the delivery of the final product.
Operations Management - 🧠ANSWER ✔✔Design, operation, and
improvement of the productions systems the efficiently transform INPUTS
into Finished Goods & Services, maximizing productivity.
Examples of duties:
Process management, plant management, capacity planning, scheduling
jobs/people, waiting line management, process improvement projects.
Logistics - 🧠ANSWER ✔✔Is the COORDINATED Planning and Execution
of the following:
Preparation of Packaged Product
Movement Itinerary (Transport)
Storage Itinerary (Warehousing)
Product distribution throughout the Supply Chain
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, Examples of duties:
Distribution/Warehousing Infrastructure Mgmt.
Packaging, containerization, transportation, Management and
communication
Procurement - 🧠ANSWER ✔✔The process of obtaining services, supplies,
and equipment in conformance with corporate regulations.
Examples of duties:
Supplier selection
Purchasing regulations
Managing supplier relationships - Motivation, Development
Materials/Inventory Management
Upstream - 🧠ANSWER ✔✔In supply chain, the direction that points toward
the suppliers. Is to the left.
Explained: In a company an executive that works in upstream supply chain
management might be responsible for: ensuring that empty boxes at the