CPIM1 Section A Exam Questions And Answers 2024

CPIM1 Section A Exam Questions And Answers 2024 Simultaneous engineering - answerA company is seeking to design a new product as a low- cost manufacturer. Which of the following design methods brings product and process design groups together to achieve this objective? How can the objectives of marketing be met while also considering other stakeholder objectives? - answerMarketing and production objectives can be met with higher inventories. qualifier - answerThe price for a product must fall within a certain range for a supplier to be considered by potential customers. This condition is known as an order: Which of the following entities or conditions impacts demand by providing expectations that products will be sold at a fair price, that higher quality is required, that delivery lead time is negligible, that before- and after-sales service is available, and that products and their volumes are flexible? - answerCustomers How is a strategic plan different from a business plan? - answerA strategic plan contains the company's vision, mission statement, goals, and objectives. A statement of long-range strategy and revenue, cost, and profit objectives usually accompanied by budgets, a projected balance sheet, and a cash flow is called a: - answerbusiness plan. How is a business plan different from a strategic plan? - answerA business plan focuses on the long-range financial objectives of a company. Why does the UN Global Compact single out supply chain partners as an important factor in a firm's ability to comply with its 10 principles? - answerIt motivates suppliers in countries with low labor costs toward compliance. A piece of electronics equipment is several years old, and new models with new functionality are common on store shelves. Which of the following factors are likely to be more important to consumers when choosing this product? - answerPrice and delivery Which of the following entities or conditions impacts customer demand due to decisions that consumers and companies must make regarding financial resources? - answerEconomy The competitive characteristics that persuade a customer to choose one company's products over those of another company are