WVU BCOR 360 EXAM 1 | QUESTIONS AND ANSWERS |
100% CORRECT.
Operations management: Answer - The planning, scheduling, and control of
the activities that transform inputs into finished goods and services.
Supply chain management: Answer - The active management of supply chain
activities and relationships in order to maximize customer value and achieve a
sustainable competitive advantage.
Supply chain: Answer - A network of manufacturers and service providers that
work together to create products or services needed by end users. These
manufacturers are linked together through physical flows, information flows,
and monetary flows.
Supply chain activities: Answer - Plan
Buy/Source
Make
Deliver
Return
Focal Firm: Answer - The organization with which one identifies when
discussing supply chain management
, Upstream: Answer - Activities or firms positioned earlier in the supply chain
(prior to the focal firm)
Downstream: Answer - Activities or firms positioned later in the supply chain
1st Tier Supplier: Answer - Direct supply to the Focal Firm
2nd Tier Supplier Answer - Direct supplier to the 1st Tier Supplier
Electronic commerce: Answer - The use of computer and telecommunications
technologies to conduct business via electronic transfer of data and documents
Increasing competition and globalization: Answer - Customer demands are
changing and new competitors are entering the markets
Relationship management: Answer - Organizations must manage the
relationships with their upstream suppliers as well as their downstream
customers
coordinated decision making: Answer - Systems approach to management that
considers the total impact of functional and channel partner decisions of the
final customer
Structural element: Answer - Large capital investments that are difficult to
reverse. Includes tangible resources such as buildings, equipment, and
computer systems.
Infrastructural element: Answer - The policies, people, decision rules, and
organizational structure choices made by a firm. These affect the culture and
operation of the business.
100% CORRECT.
Operations management: Answer - The planning, scheduling, and control of
the activities that transform inputs into finished goods and services.
Supply chain management: Answer - The active management of supply chain
activities and relationships in order to maximize customer value and achieve a
sustainable competitive advantage.
Supply chain: Answer - A network of manufacturers and service providers that
work together to create products or services needed by end users. These
manufacturers are linked together through physical flows, information flows,
and monetary flows.
Supply chain activities: Answer - Plan
Buy/Source
Make
Deliver
Return
Focal Firm: Answer - The organization with which one identifies when
discussing supply chain management
, Upstream: Answer - Activities or firms positioned earlier in the supply chain
(prior to the focal firm)
Downstream: Answer - Activities or firms positioned later in the supply chain
1st Tier Supplier: Answer - Direct supply to the Focal Firm
2nd Tier Supplier Answer - Direct supplier to the 1st Tier Supplier
Electronic commerce: Answer - The use of computer and telecommunications
technologies to conduct business via electronic transfer of data and documents
Increasing competition and globalization: Answer - Customer demands are
changing and new competitors are entering the markets
Relationship management: Answer - Organizations must manage the
relationships with their upstream suppliers as well as their downstream
customers
coordinated decision making: Answer - Systems approach to management that
considers the total impact of functional and channel partner decisions of the
final customer
Structural element: Answer - Large capital investments that are difficult to
reverse. Includes tangible resources such as buildings, equipment, and
computer systems.
Infrastructural element: Answer - The policies, people, decision rules, and
organizational structure choices made by a firm. These affect the culture and
operation of the business.
