Operations and Supply Chain Management (C720)
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Free Operations and Supply Chain Management (C720) Questions
Which of the following strategies involves relocating business processes to a different country to take advantage of lower labor costs
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Process improvement
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Automation
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Offshoring
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Outsourcing
Explanation
Correct Answer C: Offshoring
Explanation:
Offshoring refers to the practice of relocating business processes or production to another country, typically to take advantage of lower labor costs or other financial benefits. This strategy is common in industries where labor costs are a significant portion of overall expenses.
Why other options are wrong:
A) Process improvement: This strategy focuses on enhancing existing processes rather than relocating them to another country.
B) Automation: Automation involves using technology to perform tasks that would otherwise be done manually, not necessarily moving operations abroad.
D) Outsourcing: Outsourcing involves contracting third parties to perform tasks or services but does not necessarily involve relocating business processes to another country.
Which of the following best describes the role of innovation and learning scorecards in operations and supply chain management
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A tool for measuring financial performance exclusively
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A framework for assessing customer satisfaction levels only
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A method to evaluate and enhance organizational capabilities in launching new products and co-creating value with customers
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A strategy focused solely on reducing operational costs
Explanation
Correct Answer C: A method to evaluate and enhance organizational capabilities in launching new products and co-creating value with customers
Explanation:
Innovation and learning scorecards are part of performance management frameworks that focus on developing organizational capabilities, fostering innovation, and improving learning processes. They are used to assess and enhance the company’s ability to innovate and create value in collaboration with customers, which is critical for staying competitive.
Why other options are wrong:
A) A tool for measuring financial performance exclusively: Innovation and learning scorecards are broader in scope and focus on capabilities related to innovation and learning, not just financial performance.
B) A framework for assessing customer satisfaction levels only: Customer satisfaction is important but doesn't capture the broader scope of innovation, learning, and organizational capability building addressed by these scorecards.
D) A strategy focused solely on reducing operational costs: These scorecards are about building long-term capabilities, not just focusing on cost reduction.
Order qualifiers are
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Features that lead to increased customer loyalty
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Factors that unexpectedly enhance product performance
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Characteristics that must be met for a product to be considered
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Traits that make a product stand out in a crowded market
Explanation
Correct Answer C: Characteristics that must be met for a product to be considered
Explanation:
Order qualifiers are the minimum criteria that a product or service must meet for a customer to consider it. These are essential features that make a product acceptable in the market, but on their own, they do not necessarily give the product a competitive edge.
Why other options are wrong:
A) Features that lead to increased customer loyalty: This describes "order winners," not order qualifiers. Order winners are characteristics that make a product stand out and encourage customer loyalty.
B) Factors that unexpectedly enhance product performance: These are not order qualifiers; they could be seen as additional features or "order winners" that improve customer perception but are not the minimum requirements to be considered.
D) Traits that make a product stand out in a crowded market: These are also "order winners." Order winners differentiate a product and make it more attractive than alternatives, while order qualifiers are just the baseline features that need to be met for consideration.
Productivity is a measure of performance summarized by the ratio of
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outputs/inputs
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labor/capital
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materials/labor
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capital/labor
Explanation
Correct Answer A: outputs/inputs
Explanation:
Productivity is defined as the ratio of outputs (goods or services produced) to inputs (resources used, such as labor, materials, or capital). It helps in assessing the efficiency of the production process.
Why other options are wrong:
B) labor/capital: This option focuses on the relationship between labor and capital, but it's not a measure of general productivity.
C) materials/labor: This ratio focuses on the efficiency of material usage relative to labor, but doesn't account for all the inputs involved in productivity.
D) capital/labor: Similar to the other ratios, this compares specific inputs (capital vs. labor) and is not a comprehensive measure of productivity.
Which of the following best describes the concept of place utility in supply chain management
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Ensuring products are available at the right location for customers
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Reducing production costs through efficient resource allocation
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Improving product quality through better manufacturing processes
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Increasing customer satisfaction by enhancing service speed
Explanation
Correct Answer A: Ensuring products are available at the right location for customers
Explanation:
Place utility refers to the value added by ensuring that products are available where customers need them. It focuses on the distribution and logistics functions in the supply chain, making products accessible at the right locations to meet customer demand.
Why other options are wrong:
B) Reducing production costs through efficient resource allocation: This relates more to cost management, not place utility.
C) Improving product quality through better manufacturing processes: This is related to quality management, not place utility.
D) Increasing customer satisfaction by enhancing service speed: This is related to time utility, not place utility.
When small changes in consumer demand produce progressively larger changes in demand at each state upstream in the supply chain, this is known as
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consolidation
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buffering
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vendor managed inventory
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bullwhip effect
Explanation
Correct Answer D: bullwhip effect
Explanation:
The bullwhip effect occurs when small fluctuations in consumer demand cause increasingly larger fluctuations in orders placed upstream in the supply chain. This happens because each link in the supply chain tends to overreact to changes in demand, amplifying the effect as it moves further upstream.
Why other options are wrong:
A) consolidation: This involves combining multiple shipments into one, typically to reduce transportation costs. It doesn't explain the amplification of demand changes.
B) buffering: Buffering refers to maintaining inventory to absorb demand variability, but it does not describe the amplification of demand changes that the bullwhip effect does.
C) vendor managed inventory: This is a system where the supplier manages the inventory levels for the customer, but it doesn't directly relate to the amplification of demand fluctuations seen in the bullwhip effect.
Which of the 6 Distinctive Characteristics of Services is described by "customer involvement in delivery process results in variability"
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Customer Participation in the Service Process
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Simultaneity
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Perishability
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Intangibility
- Heterogeneity
- Nontransferable Ownership
Explanation
Correct Answer A: Customer Participation in the Service Process
Explanation:
Customer participation in the service process often introduces variability because different customers may have varying needs, behaviors, and expectations, which can affect the consistency of service delivery.
Why other options are wrong:
B) Simultaneity: Refers to the simultaneous production and consumption of services, not necessarily variability.
C) Perishability: Refers to the fact that services cannot be stored for later use, unrelated to customer involvement.
D) Intangibility: Refers to services being non-physical, not tied to customer involvement in delivery.
E) Heterogeneity: Refers to service variability but not specifically linked to customer participation in delivery.
F) Nontransferable Ownership: Refers to the inability to transfer ownership of services, unrelated to customer involvement.
Internal benchmarking compares
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Different outcomes within an organization
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Same outcomes among different organizations
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Different outcomes between two organizations
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Same outcomes among departments of same organization
Explanation
Correct Answer D: Same outcomes among departments of same organization
Explanation
Internal benchmarking refers to comparing similar processes or outcomes across different departments or functions within the same organization. This helps to identify best practices and areas for improvement within the organization itself.
Why other options are wrong
A) Different outcomes within an organization
This option is incorrect because internal benchmarking focuses on comparing similar outcomes (or processes), not just any different outcomes.
B) Same outcomes among different organizations
This is describing external benchmarking, not internal. External benchmarking compares the outcomes of different organizations.
C) Different outcomes between two organizations
Again, this describes external benchmarking. Internal benchmarking is focused on comparing similar processes or outcomes within one organization.
Manufacturing cycle time is an example of a balanced-scorecard measure of
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Financial performance
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Customer perspective
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Internal business process
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Learning and growth
Explanation
Correct Answer C: Internal business process
Explanation
Manufacturing cycle time refers to the time taken to produce a product from the beginning to the end of the manufacturing process. This measure is related to the efficiency and effectiveness of internal business processes, which are a key area of focus in the internal business process perspective of the balanced scorecard.
Why other options are wrong
A) Financial performance: Financial performance measures are focused on financial outcomes like profit, return on investment, and revenue growth, which are not directly related to the manufacturing cycle time.
B) Customer perspective: The customer perspective in the balanced scorecard focuses on measures like customer satisfaction and retention, which are not directly tied to manufacturing cycle time.
D) Learning and growth: The learning and growth perspective focuses on employee development, skills, and innovation, which are not directly related to manufacturing cycle time either.
All of the following are key aspects of customer value that we discussed in class, EXCEPT
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Customer value is driven by customer's goals, including their desired attributes, outcomes, and goals.
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Customer value is a tradeoff of the benefits and sacrifices that a customer gets from a product or service.
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Customer value is mostly made up of product features and attributes that sellers think should be more attractive to customers.
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Customer value is relative to various competitor products, different individuals, and different situations.
Explanation
Correct Answer C: Customer value is mostly made up of product features and attributes that sellers think should be more attractive to customers.
Explanation:
Customer value is not solely about product features or attributes that sellers assume are important; rather, it is driven by what the customer perceives as valuable, which includes their goals, the tradeoff between benefits and sacrifices, and comparisons to competitor products.
Why other options are wrong:
A) Customer value is driven by customer's goals, including their desired attributes, outcomes, and goals: This is a correct aspect of customer value, as it centers on understanding the customer's needs and goals.
B) Customer value is a tradeoff of the benefits and sacrifices that a customer gets from a product or service: This is also a valid point, as customer value is the balance between what is gained and what is sacrificed.
D) Customer value is relative to various competitor products, different individuals, and different situations: This is correct, as customer value is subjective and depends on comparisons and situational factors
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