MGT 565 - Quiz 1

A supply chain features a constant flow of
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Webvan designed a supply chain with large warehouses in several major cities in the United States, from which groceries were delivered to customer homes. They failed partly because ofhigher labor costs for picking ordersZara's supply chain strategyresults in supply more closely matching customer demand.A company would decide whether to outsource or perform a supply chain function in-house during thedesign phaseThe decision phases in a supply chain includesupply chain operationThe processes included in the replenishment cycle includeretail triggerWhich of the following statements about push processes is accurate?they may be referred to as speculative processesSupply chain macro processes include which of the following?supplier relationship management (SRM)Which of the following statements about pull processes is accurate?they may also be referred to as reactive processesThe production scheduling process in the manufacturing cycle is similar to theorder entry processes in the replenishment cycleActivities involved in the Supplier Relationship Management (SRM. macro process includesupplier evaluation and selectionThe drive for strategic fit should come fromthe highest levels of the organization, such as the CEO.The curve that shows the lowest possible cost for a given level of responsiveness is referred to as thecost responsiveness efficient frontierSupply chain responsiveness includes the ability to do which of the following?handle supply uncertaintyThe value that potential customers place on product cost and delivery time determines a company'scompetitive strategyFor a company to achieve strategic fit, it must accomplish the following keys:the overall supply chain must operate at the lowest cost possible to achieve successThe uncertainty that exists due to the portion of demand that the supply chain is required to meet is theimplied demand uncertaintyThe value chain in a company begins withnew product developmentIncreased product variety and shrinking product life cycles usually result inthe deliberate phase out of older productsThe final step in achieving strategic fit between competitive and supply chain strategies is tomatch supply chain responsiveness with implied uncertainty of demandWhich of the following customer needs will cause implied uncertainty of demand to increase?lead time decreasesThe authors cite IKEA as achieving an intercompany scope of strategic fit which serves toincrease the supply chain surplusSupply chain responsiveness includes the ability to do which of the following?meet short lead timesThe value chain consists of direct and indirect activities. Which of the following is an indirect activity for an enterprise?human resourcesA company's marketing and sales strategyspecifies how the market will be segmented and how the product will be positioned, priced, and promoted.The uncertainty of customer demand for a product is thedemand uncertaintyWhich element in the value chain is responsible for transforming inputs into outputs?operationsA ________ strategy specifies the portfolio of new products that a company will try to develop.product developmentWhich of these has the broader range?intercompany scopeCompany A and Company B of the same supply chain rely on market responsiveness to attract customers. Each company has access to the other company's designs, production schedules, and goals, and if Company A needs product overnight, Company B gladly ships it, knowing that in the long run it works to the benefit of both. Such an arrangement is an example ofintercompany scopeScope of strategic fit refers to both thefunction within the firm and stages across the supply chain.Cycle inventory is used becausedemand is uncertain and may exceed expectations.The average amount of inventory used to satisfy demand between receipt of supplier shipments is referred to ascycle inventoryThe use of differential pricing over time or customer segments to maximize profits from a limited set of supply chain assets isrevenue managementAmazon uses different prices for the products that are purchased from the company — often for the speed of the shipping. What is the name of this pricing scheme?menu pricing________ identifies the difference between the planned production/inventories and the actual values.variance from planKatz reports total revenue of $245,600, cost of goods sold of $18,950 and net income of $121,000. Their total assets are $585,000 and total liabilities are $250,000. What is their return on equity (ROE) ?36.12%Katz reports total revenue of $375,650, cost of goods sold of $267,400 and net income of $48,325. Their total assets are $784,325 and total liabilities are $387,775. What is their return on equity (ROE. ?12.19%The most significant sourcing decision for a firm iswhether to perform a task in house or outsource it to a third partyLisa rented her goats out to anyone interested in clearing underbrush the natural way on their acreage. She received a call from her client Mary on June 21 and delivered her herd of goats to the site on June 24. The goats were done on June 30 and Lisa presented Mary with an invoice the same day. Mary wrote Lisa a check on July 18 and Lisa cashed it on July 21. What was Lisa's days payable outstanding for Mary's job?18 daysThe following warehousing methodology is one in which goods are not actually warehoused in a facility. Instead, trucks from suppliers, each carrying a different type of product, deliver goods to a facility. There the inventory is broken into smaller lots and quickly loaded onto store-bound trucks that carry a variety of products, some from each of the supplier trucks.Cross-docking