OMGT 6213 - OPERATIONS AND
SUPPLY CHAIN MANAGEMENT
MIDTERM EXAM
Operations and Supply Chain Management (OSCM) - Correct Answers -the design,
operation, and improvement of the systems that create and deliver the firm's primary
products and services
Operations - Correct Answers -manufacturing and service processes that are used to
transform the resources into products
Supply Chain - Correct Answers -processes that move information and material to and
from the firm
Basic Principles that Guide the Design of Transformation Processes - Correct Answers -
Inputs > Transformation Process > Outputs
Planning - Correct Answers -processes needed to operate an existing supply chain
Sourcing - Correct Answers -selection of suppliers that will deliver the goods and
services needed to create the firm's product
Making - Correct Answers -producing the major product or service
Delivering - Correct Answers -logistics processes such as selecting carriers,
coordinating the movement of goods and information, and collecting payments from
customers
Returning - Correct Answers -receiving worn-out, excess, and/or defective products
back from customers
Upstream - Correct Answers -activities or firms positioned earlier in the supply chain
Downstream - Correct Answers -activities or firms positioned later in the supply chain
First-tier supplier - Correct Answers -a supplier that provides products or services
directly to a firm
Second-tier supplier - Correct Answers -A supplier that provides products or services to
a firm's first-tier supplier.
, Efficiency - Correct Answers -doing something at the lowest possible cost
Effectiveness - Correct Answers -doing the right things to create the most value for the
company
Value - Correct Answers -value = quality / price
Benchmarking - Correct Answers -a process in which one company studies the
processes of another company (or industry) to identify best practices
Receivable Turnover - Correct Answers -receivable turnover = annual credit sales /
average account receivable
Inventory Turnover - Correct Answers -inventory turnover = cost of goods sold / average
inventory value
Asset Turnover - Correct Answers -asset turnover = revenue (or sales) / total asset
Pure Goods - Correct Answers -food products, chemicals, mining
Core Goods - Correct Answers -appliances, automobiles, data storage systems
Core Services - Correct Answers -hotels, airlines, internet service providers
Pure Services - Correct Answers -university, medical, investment
Operations and Supply Chain Strategy - Correct Answers -setting broad policies and
plans for using the resources of a firm - must be integrated with corporate strategy
Formulating an OSC Strategy - Correct Answers -Strategic Analysis > Initiatives >
Implementation Projects
Competitive Dimensions: Price - Correct Answers -make the product or deliver the
service cheap
Competitive Dimensions: Quality - Correct Answers -make a great product or deliver a
great service
Competitive Dimensions: Delivery Speed - Correct Answers -make the product or
deliver the service quickly
Competitive Dimensions: Delivery Reliability - Correct Answers -deliver it when
promised
SUPPLY CHAIN MANAGEMENT
MIDTERM EXAM
Operations and Supply Chain Management (OSCM) - Correct Answers -the design,
operation, and improvement of the systems that create and deliver the firm's primary
products and services
Operations - Correct Answers -manufacturing and service processes that are used to
transform the resources into products
Supply Chain - Correct Answers -processes that move information and material to and
from the firm
Basic Principles that Guide the Design of Transformation Processes - Correct Answers -
Inputs > Transformation Process > Outputs
Planning - Correct Answers -processes needed to operate an existing supply chain
Sourcing - Correct Answers -selection of suppliers that will deliver the goods and
services needed to create the firm's product
Making - Correct Answers -producing the major product or service
Delivering - Correct Answers -logistics processes such as selecting carriers,
coordinating the movement of goods and information, and collecting payments from
customers
Returning - Correct Answers -receiving worn-out, excess, and/or defective products
back from customers
Upstream - Correct Answers -activities or firms positioned earlier in the supply chain
Downstream - Correct Answers -activities or firms positioned later in the supply chain
First-tier supplier - Correct Answers -a supplier that provides products or services
directly to a firm
Second-tier supplier - Correct Answers -A supplier that provides products or services to
a firm's first-tier supplier.
, Efficiency - Correct Answers -doing something at the lowest possible cost
Effectiveness - Correct Answers -doing the right things to create the most value for the
company
Value - Correct Answers -value = quality / price
Benchmarking - Correct Answers -a process in which one company studies the
processes of another company (or industry) to identify best practices
Receivable Turnover - Correct Answers -receivable turnover = annual credit sales /
average account receivable
Inventory Turnover - Correct Answers -inventory turnover = cost of goods sold / average
inventory value
Asset Turnover - Correct Answers -asset turnover = revenue (or sales) / total asset
Pure Goods - Correct Answers -food products, chemicals, mining
Core Goods - Correct Answers -appliances, automobiles, data storage systems
Core Services - Correct Answers -hotels, airlines, internet service providers
Pure Services - Correct Answers -university, medical, investment
Operations and Supply Chain Strategy - Correct Answers -setting broad policies and
plans for using the resources of a firm - must be integrated with corporate strategy
Formulating an OSC Strategy - Correct Answers -Strategic Analysis > Initiatives >
Implementation Projects
Competitive Dimensions: Price - Correct Answers -make the product or deliver the
service cheap
Competitive Dimensions: Quality - Correct Answers -make a great product or deliver a
great service
Competitive Dimensions: Delivery Speed - Correct Answers -make the product or
deliver the service quickly
Competitive Dimensions: Delivery Reliability - Correct Answers -deliver it when
promised
