BA 331 Exam 1
Business Administration 331 with Scott at University of Tennessee - Knoxville
About this deck
By: Will Sovine
Created: 2010-09-21
Size: 28 flashcards
Views: 1957
Created: 2010-09-21
Size: 28 flashcards
Views: 1957
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Problems for 19th century businesses were...
- Scarcity
- Limited Technology
- Adversarial Posture
What is the old paradigm of businesses
- Strong brands
- Large advertising budget
- Aggressive selling
What is the result of this old format?
Uncertainty and inaccuracy in process = poor service and/or lots of inventory
What is the paradigm of new business?
- Win through capabilities and competencies
- Managing core processes better than competitors
- Sped along by commoditization of goods and industries
What is competitive advantage?
Product Excellence x Process Excellence
(Provide better service and availability to a picky customer)
(Provide better service and availability to a picky customer)
The coordination of purchasing, inbound transportation, raw materials, component parts, work-in-process inventories and production scheduling.
Inbound Logistics
The distribution function: coordinate forecasting, finished goods inventory management, warehousing, outbound transportation, customer service and production scheduling
Outbound Logistics
How can we increase value advantage?
- Tailored Service
- Responsibility
- Responsiveness
How can we increase productivity advantage?
- Capacity Utilization
- Asset Turns
- Integration
How can we offer superior customer value?
By becoming a cost and service leader.
(Service leader = Value advantage Cost leader = Productivity advantage)
(Service leader = Value advantage Cost leader = Productivity advantage)
What are the 4 R's that help enable a competitive advantage?
- Responsiveness- Demand Driven vs. Forecast Driven
- Reliability- Primarily delivered through SC visibility
- Resilience- Coping with uncertainty
- Relationships- Network competition
What is customer value?
Perceptions of Benefits / Total Cost of Ownership =
Quality x Service / Cost x Time
Quality x Service / Cost x Time
What are the 4 P's?
- Product
- Place
- Price
- Promotion
What is the SCM role in the marketing mix?
Place - Providing customers with the product they want, when they want it, in the right condition, at the right price, etc...
What are the major logistics / supply chain service elements?
Consumer Franchise x Customer Franchise x Supply Chain Efficiency = Marketing Effectiveness
Everything 100% right according to customer specifications is referred to as...
The Perfect Order Concept
What is the shrinking service window?
Customers demanding a higher level of service.
What is the focus of a traditional organization?
Marketing/Sales Driven - revenue at any cost
What is the focus of SCM-oriented organization?
profit or lifetime value of customer to the organization
Why do we segment customers?
Key customers are offered superior service because their profitability/value to the firm is greater than non-key customers.
What are the three levels of customer service focus?
- Basic Service- achieve internal standards
- Satisfaction- meet customer standards
- Success- Customers of choice achieve their objectives
What is the 80/20 rule? aka the Pareto Rule?
20% of customers/products make up 80% of sales/profits
Sales Volume- y-axis
Profit Margin- x-axis
Profit Margin- x-axis
How can supply chain impact ROA/ROI?
- Service (Increase Revenue)
- Cost (Lower Cost)
- Asset Management (Better Utilize)
What are the problems with traditional functional measurement?
- Bias toward cost and internal customer service metrics
- Belief that internally generated customer service and quality metrics reflect a customer perspective
- Customer service metrics are not jointly defined
- Metrics are “on average,over time” rather than de-averaged absolute metrics
- Functionally-oriented--Unable to assess performance along horizontal process
- Unable to assess funtional perspective
What are the components of inventory carrying cost?
- Holding
- Inspection
- Insurance
- Obsolescence
What are the key process metrics?
- Internal Supply Chain- Perfect Order, Cash-to-cash
- Overall Supply Chain- Focus on the end customer, Dwell time, Inventory days of supply, total landed cost.
What costs makes up the total cost of ownership?
Landed Cost + Inventory Carrying Cost + Life-cycle Cost + Support Cost + Opportunity Cost
About this deck
By: Will Sovine
Created: 2010-09-21
Size: 28 flashcards
Views: 1957
Created: 2010-09-21
Size: 28 flashcards
Views: 1957
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have been getting MUCH better grades on all my tests for school. Flash cards, notes, and quizzes are great on here. Thanks!”
Kathy
Kathy