SCHM 2301 Exam 1 Questions
Merged with Correct Complete
Solutions || Already Graded A+ ||
2026-2027 Latest Update!!!
supply chain management - ANSWER-- the design and execution of
relationships and flows that connect the parties and processes across
a supply chain
- focuses on managing relationships and flows (flows of info,
materials, energy, money, people)
operations management - ANSWER-- the management of processes
used to design, supply, produce, and deliver valuable good and
services to customers
- mainly concerned with how resources will be developed and used to
accomplish business goals
corporate strategic planning - ANSWER-- addresses the portfolio of
business owned by a firm
,- communicates the overall mission of the firm
- identifies the types of business that the firm wants to be in
- is the broadest in scope
- is the least constrained
- covers a long-term horizon
strategic business unit planning - ANSWER-- "how should our business
unit compete"
- what customers and market segment they consider?
- what product they will offer?
- how compete with competitors by its competitive advantage?
- several factors affect business models such as technologies,
competitors, market
- SWOT analysis is usually used
functional planning - ANSWER-- each group in SBU has to develop this
type of strategic plan --> one that is coordinated with and supportive
of the SBU plan
- is the most detailed and constrained strategy
strategy (design) - ANSWER-- how to structure (configure) the supply
chain during the next several years
- ex: outsource/insource, locations of warehouses, production sites,
modes of transportation
, planning (tactical) - ANSWER-- maximize the supply chain surplus over
the planning horizon quarter to a year
- ex: which markets will be supplied from which locations, the
subcontracting of manufacturing, the inventory policies to be
followed, the timing and size of marketing and price promotions
operational (functional) - ANSWER-- make decision regarding
individual customer orders (weekly or daily)
- ex: allocate inventory or production to individual orders, set a date
by which an order is to be filled, generate pick lists at a warehouse, set
delivery schedules of trucks, place replenishment orders
operations strategy - ANSWER-- a set of competitive priorities
- coupled with supply chain structural and infrastructural design
choices
- intended to create capabilities that support value prop for key
customers
value proposition - ANSWER-- all of the tangible and intangible
"benefits" that customers can expect to obtain by using the products
offered by the firm
- presented as a statement of product and service features and defines
how the business competes as well as the types of products that it will
offer
Merged with Correct Complete
Solutions || Already Graded A+ ||
2026-2027 Latest Update!!!
supply chain management - ANSWER-- the design and execution of
relationships and flows that connect the parties and processes across
a supply chain
- focuses on managing relationships and flows (flows of info,
materials, energy, money, people)
operations management - ANSWER-- the management of processes
used to design, supply, produce, and deliver valuable good and
services to customers
- mainly concerned with how resources will be developed and used to
accomplish business goals
corporate strategic planning - ANSWER-- addresses the portfolio of
business owned by a firm
,- communicates the overall mission of the firm
- identifies the types of business that the firm wants to be in
- is the broadest in scope
- is the least constrained
- covers a long-term horizon
strategic business unit planning - ANSWER-- "how should our business
unit compete"
- what customers and market segment they consider?
- what product they will offer?
- how compete with competitors by its competitive advantage?
- several factors affect business models such as technologies,
competitors, market
- SWOT analysis is usually used
functional planning - ANSWER-- each group in SBU has to develop this
type of strategic plan --> one that is coordinated with and supportive
of the SBU plan
- is the most detailed and constrained strategy
strategy (design) - ANSWER-- how to structure (configure) the supply
chain during the next several years
- ex: outsource/insource, locations of warehouses, production sites,
modes of transportation
, planning (tactical) - ANSWER-- maximize the supply chain surplus over
the planning horizon quarter to a year
- ex: which markets will be supplied from which locations, the
subcontracting of manufacturing, the inventory policies to be
followed, the timing and size of marketing and price promotions
operational (functional) - ANSWER-- make decision regarding
individual customer orders (weekly or daily)
- ex: allocate inventory or production to individual orders, set a date
by which an order is to be filled, generate pick lists at a warehouse, set
delivery schedules of trucks, place replenishment orders
operations strategy - ANSWER-- a set of competitive priorities
- coupled with supply chain structural and infrastructural design
choices
- intended to create capabilities that support value prop for key
customers
value proposition - ANSWER-- all of the tangible and intangible
"benefits" that customers can expect to obtain by using the products
offered by the firm
- presented as a statement of product and service features and defines
how the business competes as well as the types of products that it will
offer
