ADMS 3351 STUDY GUIDE
Operations and supply chain management (OSCM) - Answers - the design, operation,
and improvement of the systems that create and deliver the firm's primary products and
service
Operations and Supply chain Processes - Answers - 1. Planning
2. Sourcing
3. Making
4. Delivering
5. Returning
Planning - Answers - processes needed to operate an existing supply chain strategically
Sourcing - Answers - selection of suppliers that will deliver the goods and services
needed to create the firm's product. A set of pricing, delivery, payments, and partner
relationship metrics needed
Making - Answers - producing the major product or providing the service
Delivering - Answers - logistics processes such as selecting carriers, coordinating the
movement of goods and information, and collecting payments from customers
Returning - Answers - processes for receiving worn-out, defective, and excess products
back from customers
pure goods examples - Answers - food products, chemicals, mining
core goods examples - Answers - appliances, automobiles, data storage systems
core services examples - Answers - hotels, airlines, internet service providers
pure services examples - Answers - university, medical, investment
product service bundling - Answers - when a firm builds service activities into its product
offerings to create additional value for the customer
efficiency - Answers - Doing something at the lowest possible cost.
effectiveness - Answers - Doing the right things to create the most value for the
customer.
Value - Answers - The attractiveness of a product relative to its price
, benchmarking - Answers - When one company studies the processes of another
company to identify best practices
manufacturing strategy - Answers - emphasizes how a factory's capabilities could be
used strategically to gain advantage over a competing company
just in time (JIT) - Answers - An integrated set of activities designed to achieve high-
volume production using minimal inventories of parts that arrive exactly when they are
needed.
Total Quality Control (TQC) - Answers - Aggressively seeks to eliminate causes of
production defects.
Lean manufacturing - Answers - Term used to refer to the set of concepts relating to JIT
and TQC.
Total quality management (TQM) - Answers - Managing the entire organization so that it
excels on all dimensions of products and services that are important to the customer.
Business process reengineering (BPR) - Answers - An approach to improving business
processes that seeks to make revolutionary changes as opposed to evolutionary (small)
changes
six sigma - Answers - A statistical term to describe the quality goal of no more than 3.4
defects out of every million units. Also refers to a quality improvement philosophy and
program.
Mass customization - Answers - The ability to produce a unique product exactly to a
particular customer's requirements.
Electronic commerce - Answers - The use of the Internet as an essential element of
business activity.
sustainability - Answers - The ability to meet current resource needs without
compromising the ability of future generations to meet their needs.
triple bottom line - Answers - A business strategy that includes social, economic, and
environmental criteria. (People, Planet, Profit)
Business analytics - Answers - The use of current business data to solve business
problems using mathematical analysis.
Operations and supply chain strategy - Answers - the setting of broad policies and plans
that will guide the use of the resources needed by the firm to implement its corporate
strategy
Operations and supply chain management (OSCM) - Answers - the design, operation,
and improvement of the systems that create and deliver the firm's primary products and
service
Operations and Supply chain Processes - Answers - 1. Planning
2. Sourcing
3. Making
4. Delivering
5. Returning
Planning - Answers - processes needed to operate an existing supply chain strategically
Sourcing - Answers - selection of suppliers that will deliver the goods and services
needed to create the firm's product. A set of pricing, delivery, payments, and partner
relationship metrics needed
Making - Answers - producing the major product or providing the service
Delivering - Answers - logistics processes such as selecting carriers, coordinating the
movement of goods and information, and collecting payments from customers
Returning - Answers - processes for receiving worn-out, defective, and excess products
back from customers
pure goods examples - Answers - food products, chemicals, mining
core goods examples - Answers - appliances, automobiles, data storage systems
core services examples - Answers - hotels, airlines, internet service providers
pure services examples - Answers - university, medical, investment
product service bundling - Answers - when a firm builds service activities into its product
offerings to create additional value for the customer
efficiency - Answers - Doing something at the lowest possible cost.
effectiveness - Answers - Doing the right things to create the most value for the
customer.
Value - Answers - The attractiveness of a product relative to its price
, benchmarking - Answers - When one company studies the processes of another
company to identify best practices
manufacturing strategy - Answers - emphasizes how a factory's capabilities could be
used strategically to gain advantage over a competing company
just in time (JIT) - Answers - An integrated set of activities designed to achieve high-
volume production using minimal inventories of parts that arrive exactly when they are
needed.
Total Quality Control (TQC) - Answers - Aggressively seeks to eliminate causes of
production defects.
Lean manufacturing - Answers - Term used to refer to the set of concepts relating to JIT
and TQC.
Total quality management (TQM) - Answers - Managing the entire organization so that it
excels on all dimensions of products and services that are important to the customer.
Business process reengineering (BPR) - Answers - An approach to improving business
processes that seeks to make revolutionary changes as opposed to evolutionary (small)
changes
six sigma - Answers - A statistical term to describe the quality goal of no more than 3.4
defects out of every million units. Also refers to a quality improvement philosophy and
program.
Mass customization - Answers - The ability to produce a unique product exactly to a
particular customer's requirements.
Electronic commerce - Answers - The use of the Internet as an essential element of
business activity.
sustainability - Answers - The ability to meet current resource needs without
compromising the ability of future generations to meet their needs.
triple bottom line - Answers - A business strategy that includes social, economic, and
environmental criteria. (People, Planet, Profit)
Business analytics - Answers - The use of current business data to solve business
problems using mathematical analysis.
Operations and supply chain strategy - Answers - the setting of broad policies and plans
that will guide the use of the resources needed by the firm to implement its corporate
strategy
