OBJECTIVE ASSESSMENT 2
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, how should we fulfill a customer need?
with right form at right time in right place
example of form value
general mills creates cheerios so customers do not have to do it themselves
example of time and place value
general mills ships these to stores so customers can get them wherever and whenever they
need
how can organizations compete with value proposition
vary in value provided and productivity (create form/time/place quickly can charge lower
cost)
what is the optimal strategy in regards to value proposition?
create superior form, time, and place at a lower price
Walmart's low-price strategy enables it to:
operate efficiently to reduce costs
asset utilization
produce more profit with fewer assets
how can company improve asset utilization?
operate with less inventory or improve fixed asset productivity
what percent of carbon emissions come from supply chain operations?
60%
how much empty space on average is in a truck on the highway today?
35%
what are three ways that supply chain impacts the world beyond profits?
employment, access to healthcare, climate change
supply chain management contributes to reduced environmental impact in all of the following
ways EXCEPT:
sourcing from global areas to increase transportation miles
, the optimal way for supply chains management to contribute to competitive advantage is
through:
being the leader in both cost and form/time/place value creation
which function of the supply chain is considered to be the most "upstream"?
The identification, acquisition, and management of the goods and services needed to run a
business
The three classifications of supply chain value desired by customers are:
form, time, place
Which function of the supply chain is considered to be the most "downstream"?
returns management
Which of the following organizations competes on exchange value by providing low prices
for products?
walmart
Supply Chain management contributes to financial performance through:
Growing top line revenue, reducing costs, and improving asset turnover
Fiji bottled water emphasizes its unique source as an example of which value utility?
place
Which of the following best describes supply chain digitalization?
the ability to structure and exchange massive amounts of data, to make sense of that data to
drive decisions, and even to apply data to deliver products or services
Amazon creates value by providing enhanced levels of which of the following utilities?
time and place
what are the three legs of value proposition stool?
total cost management, asset utilization, revenue generation
how does supply chain impact finances
reduce fixed assets, increase customer service (increases sales), reduce working capital
(current assets), reduce total costs (expenses)
cash to cash process
buy production materials -> work in process inventory -> raw materials inventory -> finished
goods inventory -> accounts receivable -> receive payment
what percent of current packaging products end up in landfills?
, 80%
return on assets
financial ratio that measures a company's profitability relative to its total assets
what is supply chain management?
the design and coordination of a network through which organizations and individuals get,
use, deliver, and dispose of material goods; acquire and distribute services; and make their
offerings available to markets, customers, and clients (procurement, manufacturing, logistics)
what is distinct about zara?
less items; sold at actual prices; many trends; same fabrics
four ways organizations create value
plan, source, make, deliver
how does Zara use its supply chain capabilities to generate a competitive advantage?
Speeding cycle times of new fashions from design to store shelf to ensure the trendiest
fashions
what does a supply chain consist of?
organizations, people, information, resources, etc moving a product from origin of supply to
its point of final consumption
are supply chains linear?
no, a complex web
upstream
closest to raw materials
downstream
closest to customer
planning
predicting future demand to secure capacity, materials, and talent to fulfill the expected
demand in a way that meets a customer's expectations
sourcing/procurement
identifying, acquiring, and managing the goods and services needed to run a business
inbound logistics
management of materials from suppliers into production processes or storage facilities