MKT 432- Exam 1 CMU Complete Solution 00% Verified Answers Graded A+.

Operation Function - correct answer collection of people/technology /systems within an org that has a primary responsibility for providing product/service Scor model - correct answer a framework developed and supported by SCS; provides standard descriptions of processes, relationships, and metrics that define SCM planning sourcing make delivery return Business Strategy - correct answer mechanism used to identify a firms target customers and set time frames/ performance objectives Functional strategy - correct answer specific actions for functional areas such as marketing, hr, finance, or SCM. each area much align with eachother 3 elements of Business Strategy - correct answer clearly identify the target customer set time frame and performance objectives identify and support core competencies structural elements - correct answer tangible assets associated with SC Infastructural element - correct answer people, policies, procedures, decisions True of false: Both infrastructural and structural elements combined make/create strategy - correct answer true Mission Statement - correct answer Statement explaining why an org. exists and describes what is important to the org. SC strategy involves 3 elements - correct answer right mix of structural and infrastructural elements ensure choices align with customer value support orgs. core comp. True of false: All functional strategies must support the business strategies and the mission statement - correct answer true Value index - correct answer quantitative measure that uses performances and customer importance to create a score that judges the overall value Customer performance dimensions - correct answer quality time flexibility cost Types of flexibility - correct answer mixed, changeover, volume Mixed Flexibility - correct answer produces a wide range changeover flexibility - correct answer the ability to provide a new product with minimal delay volume flexibility - correct answer the ability to produce whatever volume the customer needs Order Qualifiers - correct answer customer expects superior level of performance- allows you to do business with minimum level of performance CSA ratings - correct answer carrier ratings for compliance, safety and accountability Stages of allignement - correct answer internally neutral externally neutral internally supportive externally supportive Common conflicts of performance trade offs - correct answer cost, flexibility True of false: SC structure has logistical drivers and cross functional drivers. Each of them enable strategy that focuses on efficiency and responsiveness - correct answer true What is efficiency? - correct answer how we drive cost down while maintaining and improving speed and quality What is responsiveness? - correct answer product availability when needed for assembly line 3 logisitcs drivers - correct answer facilities inventory transportation Data driven economy - correct answer everything is connected and easily accessable Strategic level - correct answer significant resource allocation are typically long term and possibly irreversible tactical level - correct answer mid level managers making decisions on policies typically affects functions Operational level - correct answer lower-level managers and are the day to day decisions that take effect over a few days/weeks why is analysis important - correct answer early warning signs of opportunities and threats assessment of competitive position adapt to changes in the environment maintaining ability to meet customer expectations why is effective analysis important - correct answer globalization knowledge economy instability in the business world value chain analysis - correct answer strategy tool used to analyze internal firm activities achieve optimal allocation of resources VCA strengths - correct answer builds holistic analysis that provides good insight on economic reality because of internal and industry focus VCA weakness - correct answer difficult to apply o intangible intellectual based service Are demand forecast based on push or pull inventory systems - correct answer both True or false; Demand forecasts are the foundation of the supply chain - correct answer true