NCSU BUS 370 Test 1 Favre Questions and Correct Answers Updated.

Operations Function - Answer is the collection of people, technology and systems within an organization that has primarily responsibility for providing the products or services Supply Chain - Answer a network of manufacturers and service providers that move raw materials through to the end user Operations management - Answer should be thought about as a transformation process that takes inputs and transfers them into outputs & is the planning, scheduling and control of the activities that transform inputs into finished goods and services First-tier supplier - Answer its supplies materials directly to the firm Second-tier supplier - Answer it provides goods to the first-tier supplier Supply chain management - Answer is the ACTIVE management of the supply chain activities and relationships in order to maintain a competitive advantage Supply Chain Operations Reference (SCOR) Model - Answer is a framework developed by the supply chain council that seeks to provide standards for supply chain management Relationship Management - Answer this is the most difficult aspect of supply chain; must have a good relationship with upstream and downstream suppliers Structural Elements - Answer are the tangible resources, such as buildings, equipment and computer systems Infrastructural Elements - Answer are the people, policies, decision rules and organizational structure ex: personel Strategies - Answer are the mechanisms by which businesses coordinate their decisions regarding their structural and infrastructural elements