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Improving how they deliver value to different customer segments
The time it takes to convert a payment for raw materials into collection of revenue for the finished goods into which those raw materials were built is known as:
storage space, service, capital, & inventory risk costs
a. Ignores customer perceptions of value received
b. bias toward heavy use of cost metrics
c. focus on internal definitions of customer service
d. All of the above
Transportation and other distribution costs would likely increase
Establishing a segmented customer service policy involves all of the following
Ted read somewhere about the concept of customer retention and lifetime value of a customer. Which of the following best describes this concept?
Traditional cost accounting procedures allocate costs to customers based upon:
When the Stank family moved to Iowa, LL Bean equipped Mrs. Stank with all the winter clothing she would need. To this day, the Stanks’ continue to buy from LL Bean. This is an example of:
Supply Chain Management:
Is the systematic coordination of purchasing, manufacturing management, and distribution upstream with suppliers and downstream to customers
Which of the following metrics focuses on total performance of a firm’s supply chain rather than just the performance of one function?
Companies lose money on a significant percentage of active customers because:
management because supply chain management is about systematic integration
across multiple functions including purchasing, manufacturing, and logistics
Assumptions of the “simple” or “naïve” Economic Order Quantity model include:
No variation in demand or lead time
What is the benefit of buyer seller collaboration in a synchronized supply chain?
Demand and Supply information is communicated and shared in near real time
The Economic Order Quantity model attempts to:
Calculate the optimal amount of inventory to be re-ordered by balancing ordering costs with carrying costs
We discussed how time-based competition is becoming the standard in today’s marketplace. Which one of the factors below is no contributor to this?
An increased level of product safety required in global markets
Safety stock is considered to be twice as expensive as cycle stock because:
Theoretically it never turns and is counted as a full unit in average inventory
Which of the following is a key success factor in an agile supply chain strategy?
A high degree of communication among supply chain members
Assuming a constant rate of demand of 40 units per day, and a re-order point of 200 units of inventory, what is the average lead time for receiving additional inventory?
Negotiate with Apple to standardize pricing to all UT users, and then give them immediate access to actual demand and them responsible for direct delivery to Ted
Order receipt / processing to Order shipment
Inventory is still held in anticipation of customer orders
Based upon our discussion and class materials, proper Pipeline Management entails:
In the above Economic Order Quantity model, the manager wants to optimize fulfillment. As a SCM consultant, what will you suggest to the manager.
Providing an organization-wide platform for collecting and disseminating data
Time based competition
In the figure above, the point where the inventory carrying cost curve and the order/set-up cost curve cross represents which of the following
Economic Order Quantity
How should we price the product
Higher inventory carrying costs, higher average inventory levels
Order regulators base on actual customer demand and work with suppliers to quickly configure and ship the regulators directly to customers.
Adding up all the costs associated with each of the activities represented in the squares above yields:
Total Landed Cost
Referring to the diagram above, what are some potential risks associated with each activity or “touch point” represented in the squares?
The focused factory production design allows a firm to:
Segment production of items to gain economies of scale
Which type of risk is concerned with questions about the ability of operations to carry out planned activities?
Which type of risk is concerned with questions about ability to replenish our raw materials and sub-components?
Which type of risk is concerned with questions about how products or services will sell in the future?
What type of risk includes items such as the IT systems being attacked by a malicious hacktivist group?
Which of the following factors typically contribute to increased delays and variability of lead times in the global supply chain?
Complexity required for movement of goods between countries
As supply chains increase their degree of globalizations, which of the following trade-offs occur: production costs tend to _____ whereas transportation costs tend to____
Barriers preventing companies from moving away from the old paradigm and toward the new paradigm include which of the following?
Conventional organization structure focused on functional units
What is one of the key characteristics of the traditional view of competition as being between companies (old paradigm)?
A transactional approach to supply chain partners dominated by a win-lose mentality
Another trend in globalization supply chains is moving manufacturing or services outside a firm’s home country to achieve lower costs. This is called:
Which of the following costs increase due to the trend toward global focused factories?
If Ted decided to move most of his sourcing for clothing products to Vietname, but also kept up a contract with domestic suppliers to source some of those same products locally, this would be an example of using ____ to mitigate _____ risk.
Offshore contract manufacturing, outsourcing customer service, long lead-times, supply chain disruptions, and greater complexity are all symptoms of:
Extended global supply chains
What is the purpose of conducting risk profile assessments?
To determine the area of greatest vulnerability to and impact from disruption in the SC
Ted mentioned in class the example of Radio Systems Corporation, which outsourced all of its manufacturing to China. At first, RSC tried to manage its relationship with its Chinese partners via a procurement office in TN. They found, however, that this did not work due to significant cultural barriers. In response, RSC set up an office in Shenzhen and hired locals to management the relationship. This is an example of:
Improving local coordination to mitigate supply risk
Which of the following strategies is an example of using redundancy to mitigate risk?
Establishing multiple inventory stockpiles
Around what percent of US firms do not have a supply chain risk management system?
Which of the following is NOT an issue that impacts global supply chain decisions for US firms?
Passage of new US transportation spending legislation
At its core, a supply chain risk profile assesses the _____ and the _____
Probability of a risk occurring; the impact of that risk if it occurs
You are a divisional inventory manager at a company that has grown through the acquisition of 20 different smaller firms. You are completing an initial assessment of your inventory management principles. Which type of benchmarking makes most sense?
Ted has started to sell TWDS t-shirts nationally through various retail outlets. However, Ted is much better at forecasting demand for his t-shirts across a region than he is at forecasting demand at particular retail locations. Ted decides to pull t-shirt inventory back form specific locations and instead _____ to mitigate demand risk
Providing immediate information about an inventory shortage to a downstream operation.
What is the impact to supply chain configurations in the Us of the Panama Canal expansion?
It cuts the time and costs associated with shipping from Pacific ports to Atlantic ports and vice versa
Your form has decided to expanded globally by adding the United Kingdom to your delivery area. You are attempting to decide what services will make you successful in this market. Which type of benchmarking makes the most sense?
Which of the following lowers the risks of supply chain vulnerability due to disruption or delay?
Increasing supply chain flexibility
Which of the following is NOT a sound reason for a company to expand globally?
To decrease complexity by selling to emerging markets
You have just taken a job as a manager of inbound flows of subcomponent products for a large US- based electronics manufacturer. All of your products are produced by firms located in Asia- Pacific and transported from the port of Hong Kong to the port of Long Beach and then move to your US- based assembly facility in Charleston, NC by truck. Which of the following reflects a trend that will affect your business the most over the next 5-10 years?
The expansion of Panama Canal to accommodate the kind of vessels on which your product is shipped
Your boss walks into your office and says, “ Our global supply chain faces the challenge of serving heterogeneous markets as well as the challenge of coordinating operations to avoid potentially higher cost.” Do you agree and why?
Yes, consumer preferences vary by country and high levels of coordination are required to manage the complexity in a global supply chain
One trend in globalized supply chain is contracting manufacturing or services that are outside a firm’s core competencies to an external partner. This is called:
Configuration is all about:
Where, and how many nations each value chain activity is performed
Coordination is all about:
How dispersed activities, or activities performed in different nations are managed
Using focused factories is a global supply chain management strategy. What is a probably outcome of this strategy?
An increase in transportation cost and lead time
In class, Ted told the story of General Motors, deciding to outsource production of transmission and axle units to eastern Europe in an effort to reduce costs. This decision significantly increase lead times and disruptions. As a results, General Motors was forced to airship parts daily to assembly facilities in the US at great expense. This story is an example of what can happen in firm:
Fails to coordinate decisions across its global supply chain
All of the following are trends in global supply chain management EXCEPT?
Less complexity due to a decrease in cultural differences
A major driver of control risk across global supply chain is:
Difficulty integration across multiple IT systems
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