BUAD 331 EXAM 1 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
Supply Chain Management - Answers -the management of upstream and downstream
relationship with suppliers and customers order to deliver superior customer value at
less cost to supply chain as a whole
Demand chain management - Answers -should be the name because the chain should
be driven by the market not the suppliers
Porter's Supply Chain Management - Answers -firm the delivers value to its customers
by performing these activities in a more efficient way than its competitors or in a unique
way
The 3 C's - Answers -Customers
§ Needs
§ Seek benefits for acceptable prices
o Competitor
§ Assets
§ Utilization of assets
o Company
§ Assets
§ Utilizes good products that no longer sell themselves
Competitors are more popular in an industry when their sector tends to be - Answers -
the lowest-cost producer or the supplier providing a product with the greatest
differentiated values
When a company is successful they either have a cost-advantage or value advantage
or ________ - Answers -both
Cost Advantage - Answers -One competitor that has the ability to be the low-cost
producer
· This competitor has the greatest sales volume in the sector
· Experience curve
Identities how to predict improvements in the rate of the output of workers as they
become more skilled in their job
Value Advantage - Answers -Customers buy benefits
· Buy products for the promise of achieving a goal
o Ability to create better service and lower cost//assets
ACCURATE ANSWERS
Supply Chain Management - Answers -the management of upstream and downstream
relationship with suppliers and customers order to deliver superior customer value at
less cost to supply chain as a whole
Demand chain management - Answers -should be the name because the chain should
be driven by the market not the suppliers
Porter's Supply Chain Management - Answers -firm the delivers value to its customers
by performing these activities in a more efficient way than its competitors or in a unique
way
The 3 C's - Answers -Customers
§ Needs
§ Seek benefits for acceptable prices
o Competitor
§ Assets
§ Utilization of assets
o Company
§ Assets
§ Utilizes good products that no longer sell themselves
Competitors are more popular in an industry when their sector tends to be - Answers -
the lowest-cost producer or the supplier providing a product with the greatest
differentiated values
When a company is successful they either have a cost-advantage or value advantage
or ________ - Answers -both
Cost Advantage - Answers -One competitor that has the ability to be the low-cost
producer
· This competitor has the greatest sales volume in the sector
· Experience curve
Identities how to predict improvements in the rate of the output of workers as they
become more skilled in their job
Value Advantage - Answers -Customers buy benefits
· Buy products for the promise of achieving a goal
o Ability to create better service and lower cost//assets
