CPIM Part 1 questions and answers with
solutions
Supply Chain Management - ANSWER The design, planning, execution,
control, and monitoring of supply chain activities with the objective of
creating net value, building a competitive infrastructure, leveraging
worldwide logistics, synchronizing supply with demand, and measuring
performance globally
Value Chain Analysis - ANSWER An examination of all links a company
uses to produce and deliver its products and services, starting from the
origination point and continuing through delivery to the final customer.
Risk Management - ANSWER The identification, assessment, and
prioritization of risks followed by coordinated and economical
application of resources to minimize, monitor, and control
Operations Management - ANSWER The planning, scheduling, and
control of the activities that transform inputs into finished goods and
services
Materials Management - ANSWER The grouping of management
functions supporting the complete cycle of material flow
,Manufacturing Planning and Control (MPC) - ANSWER High-level
planning, master scheduling, material requirements planning (MRP), and
execution control along with the related check on available capacity
Strategic Plan - ANSWER The plan for how to marshal and determine
actions to support the mission, goals, and objectives of an organization
Business Plan - ANSWER A statement of long-range strategy and revenue,
cost, and profit objectives usually accompanied by budgets, a projected
balance sheet, and a cash flow statement
What if Analysis - ANSWER The process of evaluating alternate strategies
by answering the consequences of changes to forecasts, manufacturing
plans, inventory levels, and so forth
Tactical Plan - ANSWER The set of functional plans (sales plan,
production plan, marketing plan) synchronizing activities across
functions that specify production levels, capacity levels, staffing levels,
funding levels, for achieving the intermediate goal s and objectives to
support the organization's strategic plan
Balanced Scorecard - ANSWER A list of financial and operational
measurements used to evaluate organizational or supply chain
performance
Participative Design/Engineering - ANSWER The simultaneous
participation of all the functional areas of the firm in the product design
activity
, Manufacturing Process - ANSWER The series of operations performed
upon material to convert it from the raw material or a semi -finished
state to a state of further completion
Manufacturing Philosophy - ANSWER The set of guiding principles,
driving forces, and ingrained attitudes that helps communicate goals,
plans, and policies to all employees and that is reinforced through
conscious and subconscious behavior within the manufa cturing
organization
VATI Analysis - ANSWER In the theory of constraints, a procedure for
determining the general flow of parts and products from raw materials
to finished goods
Product Life Cycle - ANSWER The stages a new product goes through
from beginning to end
PLC - Introduction - ANSWER Sales are very low during this phase due to
customers not having awareness of the product and high initial costs of
production
PLC - Growth - ANSWER Product rapidly gains market share, stress is put
on manufacturing and distribution based on initial forecasts vs. actual
demand. Unit costs drop because of increased production
solutions
Supply Chain Management - ANSWER The design, planning, execution,
control, and monitoring of supply chain activities with the objective of
creating net value, building a competitive infrastructure, leveraging
worldwide logistics, synchronizing supply with demand, and measuring
performance globally
Value Chain Analysis - ANSWER An examination of all links a company
uses to produce and deliver its products and services, starting from the
origination point and continuing through delivery to the final customer.
Risk Management - ANSWER The identification, assessment, and
prioritization of risks followed by coordinated and economical
application of resources to minimize, monitor, and control
Operations Management - ANSWER The planning, scheduling, and
control of the activities that transform inputs into finished goods and
services
Materials Management - ANSWER The grouping of management
functions supporting the complete cycle of material flow
,Manufacturing Planning and Control (MPC) - ANSWER High-level
planning, master scheduling, material requirements planning (MRP), and
execution control along with the related check on available capacity
Strategic Plan - ANSWER The plan for how to marshal and determine
actions to support the mission, goals, and objectives of an organization
Business Plan - ANSWER A statement of long-range strategy and revenue,
cost, and profit objectives usually accompanied by budgets, a projected
balance sheet, and a cash flow statement
What if Analysis - ANSWER The process of evaluating alternate strategies
by answering the consequences of changes to forecasts, manufacturing
plans, inventory levels, and so forth
Tactical Plan - ANSWER The set of functional plans (sales plan,
production plan, marketing plan) synchronizing activities across
functions that specify production levels, capacity levels, staffing levels,
funding levels, for achieving the intermediate goal s and objectives to
support the organization's strategic plan
Balanced Scorecard - ANSWER A list of financial and operational
measurements used to evaluate organizational or supply chain
performance
Participative Design/Engineering - ANSWER The simultaneous
participation of all the functional areas of the firm in the product design
activity
, Manufacturing Process - ANSWER The series of operations performed
upon material to convert it from the raw material or a semi -finished
state to a state of further completion
Manufacturing Philosophy - ANSWER The set of guiding principles,
driving forces, and ingrained attitudes that helps communicate goals,
plans, and policies to all employees and that is reinforced through
conscious and subconscious behavior within the manufa cturing
organization
VATI Analysis - ANSWER In the theory of constraints, a procedure for
determining the general flow of parts and products from raw materials
to finished goods
Product Life Cycle - ANSWER The stages a new product goes through
from beginning to end
PLC - Introduction - ANSWER Sales are very low during this phase due to
customers not having awareness of the product and high initial costs of
production
PLC - Growth - ANSWER Product rapidly gains market share, stress is put
on manufacturing and distribution based on initial forecasts vs. actual
demand. Unit costs drop because of increased production
