The University of Alabama, OM 300,
Final Exam Questions and Correct
Answers.
Components |of |a |supply |chain |network |- |ANS |-- |Suppliers
- |Manufacturers
- |Distributors
What |is |outsourcing? |- |ANS |-- |Transfers |some |of |the |internal |activities |of |a |firm |to |outside |
vendors
- |Uses |specialization |for |efficiency |so |they |can |focus |on |core |production
Many |companies |sourcing |strategy |for |suppliers |- |ANS |-- |Plays |one |supplier |against |another |so |
they |compete |
- |Holds |supplier |responsible |for |technology, |expertise, |forecasting, |cost, |quality, |and |delivery
- |Long |term |relationships |are |not |the |goal
- |Common |with |commodities
Few |companies |sourcing |strategy |for |suppliers |- |ANS |-- |Creating |long |term |relationships |with |
few |suppliers
- |Suppliers |particiapting |in |JIT |programs |and |contribute |expertise
- |Beleive |cost |of |changing |partners |is |huge
- |Have |trade |secrets |and |other |alliances
, What |is |vertical |integration? |- |ANS |-- |Developing |the |ability |to |produce |goods |or |services |
previously |purchased |within |the |company |OR |just |buying |the |supplier
-Two |types: |forward |and |backward
- |Benefits: |Cost |reduction, |higher |quality, |inventory |reduction
-Works |best |when |company |has |large |market |share
Forward |integration |- |ANS |-Moving |closer |to |the |finished |goods |of |customers, |
-Involves |the |purchase |or |control |of |DISTRIBUTORS |moving |to |finished |goods
Backward |integration |- |ANS |-Purchasing |of |a |SUPPLIER
-it |can |improve |efficiency |and |save |money |(raw |materials)
Four |stages |of |supplier |selection |for |a |company |- |ANS |-1. |Supplier |evaluation
2. |Supplier |development
3. |Negotiations
4. |Contracting
1. |Supplier |selection: |Evaluation |- |ANS |-- |Finding |potential |suppliers |and |determining |the |
likelihood |of |becoming |good |suppliers
-Strict |evaluations |of |all |types |of |things |(ie; |financial |strength, |management, |quality, |etc...)
- |May |require |internal |or |external |certification! |(3 |step |process) |once |certified |they |are |treated
|with |priority
2. |Supplier |selection: |Development |- |ANS |-- |Ensuring |the |supplier |has |the |right |equipment |to |
produce |quality |items |and |can |deliver |on |time
- |Includes |training, |engineering |and |production |help
Final Exam Questions and Correct
Answers.
Components |of |a |supply |chain |network |- |ANS |-- |Suppliers
- |Manufacturers
- |Distributors
What |is |outsourcing? |- |ANS |-- |Transfers |some |of |the |internal |activities |of |a |firm |to |outside |
vendors
- |Uses |specialization |for |efficiency |so |they |can |focus |on |core |production
Many |companies |sourcing |strategy |for |suppliers |- |ANS |-- |Plays |one |supplier |against |another |so |
they |compete |
- |Holds |supplier |responsible |for |technology, |expertise, |forecasting, |cost, |quality, |and |delivery
- |Long |term |relationships |are |not |the |goal
- |Common |with |commodities
Few |companies |sourcing |strategy |for |suppliers |- |ANS |-- |Creating |long |term |relationships |with |
few |suppliers
- |Suppliers |particiapting |in |JIT |programs |and |contribute |expertise
- |Beleive |cost |of |changing |partners |is |huge
- |Have |trade |secrets |and |other |alliances
, What |is |vertical |integration? |- |ANS |-- |Developing |the |ability |to |produce |goods |or |services |
previously |purchased |within |the |company |OR |just |buying |the |supplier
-Two |types: |forward |and |backward
- |Benefits: |Cost |reduction, |higher |quality, |inventory |reduction
-Works |best |when |company |has |large |market |share
Forward |integration |- |ANS |-Moving |closer |to |the |finished |goods |of |customers, |
-Involves |the |purchase |or |control |of |DISTRIBUTORS |moving |to |finished |goods
Backward |integration |- |ANS |-Purchasing |of |a |SUPPLIER
-it |can |improve |efficiency |and |save |money |(raw |materials)
Four |stages |of |supplier |selection |for |a |company |- |ANS |-1. |Supplier |evaluation
2. |Supplier |development
3. |Negotiations
4. |Contracting
1. |Supplier |selection: |Evaluation |- |ANS |-- |Finding |potential |suppliers |and |determining |the |
likelihood |of |becoming |good |suppliers
-Strict |evaluations |of |all |types |of |things |(ie; |financial |strength, |management, |quality, |etc...)
- |May |require |internal |or |external |certification! |(3 |step |process) |once |certified |they |are |treated
|with |priority
2. |Supplier |selection: |Development |- |ANS |-- |Ensuring |the |supplier |has |the |right |equipment |to |
produce |quality |items |and |can |deliver |on |time
- |Includes |training, |engineering |and |production |help
