Operations and Supply Chain Management, Jacobs, Chase,
Chapter 1, Practice Exam with Best Solutions 2024
Supply Chain Network - Correct Answer The pipelinelike movement of the materials and
information needed to produce a good or service.
Triple Bottom Line - Correct Answer A strategy that meets the needs of shareholders
and employees and that preserves the environment.
Planing - Correct Answer The process needed to determine the set of future actions
required to operate an existing supply chain.
Sourcing - Correct Answer The selection of suppliers.
Making - Correct Answer A type of process where the major product is produced or
service provided.
Delivery - Correct Answer A type of process that moves products to warehouses or
customers.
Returning - Correct Answer Processes that involve the receiving of worn-out, defective
and excess products back from customers and support customers that have problems.
Service - Correct Answer A type of business where the major product is intangible,
meaning it cannot be weighed or measured.
Product Service Building - Correct Answer Refers to when a company builds service
activities into its product offerings.
Efficiency - Correct Answer Means doing something at the lowest possible cost.
Effectiveness - Correct Answer Means doing the right things to create the most value for
the company.
Value - Correct Answer Abstractly defined as quality divided by price.
Total Quality Management (TQM) - Correct Answer A philosophy that aggressively
seeks to eliminate causes of production defects.
Business Process Rengineering - Correct Answer An approach that seeks to make
revolutionary changes as opposed to evolutionary changes (Which is advocated by
Total Quality Management)
Lean Manufacturing - Correct Answer An approach that combines TQM and JIT
Six Sigma Quality - Correct Answer Tools that are taught to managers in "Green and
Black Belt Programs."
Chapter 1, Practice Exam with Best Solutions 2024
Supply Chain Network - Correct Answer The pipelinelike movement of the materials and
information needed to produce a good or service.
Triple Bottom Line - Correct Answer A strategy that meets the needs of shareholders
and employees and that preserves the environment.
Planing - Correct Answer The process needed to determine the set of future actions
required to operate an existing supply chain.
Sourcing - Correct Answer The selection of suppliers.
Making - Correct Answer A type of process where the major product is produced or
service provided.
Delivery - Correct Answer A type of process that moves products to warehouses or
customers.
Returning - Correct Answer Processes that involve the receiving of worn-out, defective
and excess products back from customers and support customers that have problems.
Service - Correct Answer A type of business where the major product is intangible,
meaning it cannot be weighed or measured.
Product Service Building - Correct Answer Refers to when a company builds service
activities into its product offerings.
Efficiency - Correct Answer Means doing something at the lowest possible cost.
Effectiveness - Correct Answer Means doing the right things to create the most value for
the company.
Value - Correct Answer Abstractly defined as quality divided by price.
Total Quality Management (TQM) - Correct Answer A philosophy that aggressively
seeks to eliminate causes of production defects.
Business Process Rengineering - Correct Answer An approach that seeks to make
revolutionary changes as opposed to evolutionary changes (Which is advocated by
Total Quality Management)
Lean Manufacturing - Correct Answer An approach that combines TQM and JIT
Six Sigma Quality - Correct Answer Tools that are taught to managers in "Green and
Black Belt Programs."
