BUAD 100 Exam 4 with Accurate
Solutions
supply chain - ANS-consists of all parties involved, directly or indirectly, in obtaining raw
materials or a product
Supply Chain Management - ANS-the management of flows among firms in the supply
chain to maximize total profitability
raw materials - ANS-Unprocessed natural products used in production
Raw Materials Inventory - ANS-items acquired for the purpose of processing into
finished goods
vendors - ANS-companies that sell products and services to businesses
finished goods inventory - ANS-all manufactured items that are completed and ready for
sale
finished goods - ANS-units of product that have been completed but not yet sold to
customers
quarterly report - ANS-Brief unaudited report for quarter normally containing summary
income statement and balance sheet
Brand Damage - ANS-Devaluation of a company's image after the company fails to
meet customer expectations.
lost sales - ANS-represent customer sales that did not materialize because of the
absence of products the customer wanted to buy
The direct costs of the actual recall generally include - ANS--Notifying retailers and
regulatory bodies
-Pulling products, also known as reverse logistics
-Storing and disposing of contaminated or mislabeled products
-Any additional labor needed to carry out these tasks and investigate the source of the
problem
brand equity - ANS-the added value a brand name gives to a product beyond the
functional benefits provided
, three key factors that influence how quickly a brand and its sales might bounce back
after a recall - ANS-1) How large the recall was.
2) Whether the company made multiple announcements because the recall started
small but continued to expand (like the General Mills flour recall).
3)The product category and whether consumers are concerned about it, particularly if
the recall involved products for children, the elderly and pets.
FSMA - ANS-Food Safety Modernization Act
the five obstacles to recovery the Grocery Manufacturers Association outlined - ANS--
Time, effort and expense of recovery.
- Brand protection.
- Supplier relationships.
- Multiple insurance policies may apply.
- Limited recall claims experience and resources.
Boeings 737 MAX Failure pilot issue - ANS-Pilots flying the 737 MAX, which entered
service in 2017, received no training on a new stall-prevention system and saw almost
no mention of it in manuals, according to the pilots and industry officials.
Boeing 737 MAX indicator light - ANS-pilots didn't receive warnings. American paid for
an additional cockpit warning light that would have alerted them to the problem, while
Lion Air and most other airlines didn't.
quaility - ANS-1. Ability of a product or service to consistently meet or exceed customer
expectations
2. defined by consumers
product quality - ANS-the overall ability of the product to satisfy customer expectations
quality control 9 dimensions - ANS-• Performance - main characteristics of product
• Aesthetics - how it looks, feels, smells, tastes
• Special features - any extra characteristics
• Conformance - how well a product corresponds to design specifications
• Reliability - how dependable is it
• Durability - ability to perform over time
Solutions
supply chain - ANS-consists of all parties involved, directly or indirectly, in obtaining raw
materials or a product
Supply Chain Management - ANS-the management of flows among firms in the supply
chain to maximize total profitability
raw materials - ANS-Unprocessed natural products used in production
Raw Materials Inventory - ANS-items acquired for the purpose of processing into
finished goods
vendors - ANS-companies that sell products and services to businesses
finished goods inventory - ANS-all manufactured items that are completed and ready for
sale
finished goods - ANS-units of product that have been completed but not yet sold to
customers
quarterly report - ANS-Brief unaudited report for quarter normally containing summary
income statement and balance sheet
Brand Damage - ANS-Devaluation of a company's image after the company fails to
meet customer expectations.
lost sales - ANS-represent customer sales that did not materialize because of the
absence of products the customer wanted to buy
The direct costs of the actual recall generally include - ANS--Notifying retailers and
regulatory bodies
-Pulling products, also known as reverse logistics
-Storing and disposing of contaminated or mislabeled products
-Any additional labor needed to carry out these tasks and investigate the source of the
problem
brand equity - ANS-the added value a brand name gives to a product beyond the
functional benefits provided
, three key factors that influence how quickly a brand and its sales might bounce back
after a recall - ANS-1) How large the recall was.
2) Whether the company made multiple announcements because the recall started
small but continued to expand (like the General Mills flour recall).
3)The product category and whether consumers are concerned about it, particularly if
the recall involved products for children, the elderly and pets.
FSMA - ANS-Food Safety Modernization Act
the five obstacles to recovery the Grocery Manufacturers Association outlined - ANS--
Time, effort and expense of recovery.
- Brand protection.
- Supplier relationships.
- Multiple insurance policies may apply.
- Limited recall claims experience and resources.
Boeings 737 MAX Failure pilot issue - ANS-Pilots flying the 737 MAX, which entered
service in 2017, received no training on a new stall-prevention system and saw almost
no mention of it in manuals, according to the pilots and industry officials.
Boeing 737 MAX indicator light - ANS-pilots didn't receive warnings. American paid for
an additional cockpit warning light that would have alerted them to the problem, while
Lion Air and most other airlines didn't.
quaility - ANS-1. Ability of a product or service to consistently meet or exceed customer
expectations
2. defined by consumers
product quality - ANS-the overall ability of the product to satisfy customer expectations
quality control 9 dimensions - ANS-• Performance - main characteristics of product
• Aesthetics - how it looks, feels, smells, tastes
• Special features - any extra characteristics
• Conformance - how well a product corresponds to design specifications
• Reliability - how dependable is it
• Durability - ability to perform over time
