Operations and Supply Chain Strategies Test Bank Operations Management in the Supply Chain Decisions and Cases

Operations and Supply Chain Strategies Test Bank Operations Management in the Supply Chain Decisions and Cases Delivery speed - ANSWER-A performance dimension that refers to how quickly the operations or supply chain function can fulfill a need once it has been identified Delivery reliability - ANSWER-A performance dimension that refers to the ability to deliver products or services when promised Delivery window - ANSWER-The acceptable time range in which deliveries can be made Flexibility - ANSWER-A performance dimension that considers how quickly operations and supply chains can respond to the unique needs of customers Structural element - ANSWER-One of two major decision categories addresses by a strategy. Includes tangible resources, such as buildings, equipment, and computer systems Infrastructural element - ANSWER-One of two major decision categories addressed by a strategy. Includes the policies, people, decision rules, and organisational structure choices made by a firm Mission statement - ANSWER-A statement that explains why an organisation exists. It describes what is important to the organisation, called its core values, and identifies the organisation's domain Business strategy - ANSWER-The strategy identifies a firm's targeted customers and sets time frames and performance objectives for the business Core competency - ANSWER-An organisational strength or ability, developed over a long period, that customers find valuable and competitors find difficult or even impossible to copy Functional strategy - ANSWER-A strategy that translates a business strategy into specific actions for functional areas, such as marketing, human resources, and finance. These strategies should align with overall business strategy and with each other. Operations and supply chain strategy - ANSWER-A functional strategy that indicates how structural and infrastructural elements within the operations and supply chain areas will be acquired and developed to support the overall business strategy Quality - ANSWER-The characteristics of a product or service that bear on its ability to satisfy stated or implied needs Performance quality - ANSWER-A sub dimension of quality, which addresses the basic operating characteristics of a product or service