SCHM 2301 Exam 1 Questions & Answers | 100% Verified solutions (2026)
UPDATE |2026!! STUDY GUIDE EXAM
supply chain management - (answer)- the design and execution of relationships and flows that connect
the parties and processes across a supply chain
- focuses on managing relationships and flows (flows of info, materials, energy, money, people)
operations management - (answer)- the management of processes used to design, supply, produce, and
deliver valuable good and services to customers
- mainly concerned with how resources will be developed and used to accomplish business goals
corporate strategic planning - (answer)- addresses the portfolio of business owned by a firm
- communicates the overall mission of the firm
- identifies the types of business that the firm wants to be in
- is the broadest in scope
- is the least constrained
- covers a long-term horizon
strategic business unit planning - (answer)- "how should our business unit compete"
- what customers and market segment they consider?
- what product they will offer?
- how compete with competitors by its competitive advantage?
- several factors affect business models such as technologies, competitors, market
- SWOT analysis is usually used
functional planning - (answer)- each group in SBU has to develop this type of strategic plan --> one that
is coordinated with and supportive of the SBU plan
- is the most detailed and constrained strategy
, SCHM 2301 Exam 1 Questions & Answers | 100% Verified solutions (2026)
UPDATE |2026!! STUDY GUIDE EXAM
strategy (design) - (answer)- how to structure (configure) the supply chain during the next several years
- ex: outsource/insource, locations of warehouses, production sites, modes of transportation
planning (tactical) - (answer)- maximize the supply chain surplus over the planning horizon quarter to a
year
- ex: which markets will be supplied from which locations, the subcontracting of manufacturing, the
inventory policies to be followed, the timing and size of marketing and price promotions
operational (functional) - (answer)- make decision regarding individual customer orders (weekly or daily)
- ex: allocate inventory or production to individual orders, set a date by which an order is to be filled,
generate pick lists at a warehouse, set delivery schedules of trucks, place replenishment orders
operations strategy - (answer)- a set of competitive priorities
- coupled with supply chain structural and infrastructural design choices
- intended to create capabilities that support value prop for key customers
value proposition - (answer)- all of the tangible and intangible "benefits" that customers can expect to
obtain by using the products offered by the firm
- presented as a statement of product and service features and defines how the business competes as
well as the types of products that it will offer
5 main characteristics of value proposition - (answer)1.) it offers a combination of product features that
customers find attractive and are willing to pay for
2.) it differentiates the firm from its competition in a way that is difficult to imitate
3.) it satisfies the financial and strategic objectives of the firm
4.) it can be reliably delivered given the operational capabilities of the firm and its supporting supply
chain
UPDATE |2026!! STUDY GUIDE EXAM
supply chain management - (answer)- the design and execution of relationships and flows that connect
the parties and processes across a supply chain
- focuses on managing relationships and flows (flows of info, materials, energy, money, people)
operations management - (answer)- the management of processes used to design, supply, produce, and
deliver valuable good and services to customers
- mainly concerned with how resources will be developed and used to accomplish business goals
corporate strategic planning - (answer)- addresses the portfolio of business owned by a firm
- communicates the overall mission of the firm
- identifies the types of business that the firm wants to be in
- is the broadest in scope
- is the least constrained
- covers a long-term horizon
strategic business unit planning - (answer)- "how should our business unit compete"
- what customers and market segment they consider?
- what product they will offer?
- how compete with competitors by its competitive advantage?
- several factors affect business models such as technologies, competitors, market
- SWOT analysis is usually used
functional planning - (answer)- each group in SBU has to develop this type of strategic plan --> one that
is coordinated with and supportive of the SBU plan
- is the most detailed and constrained strategy
, SCHM 2301 Exam 1 Questions & Answers | 100% Verified solutions (2026)
UPDATE |2026!! STUDY GUIDE EXAM
strategy (design) - (answer)- how to structure (configure) the supply chain during the next several years
- ex: outsource/insource, locations of warehouses, production sites, modes of transportation
planning (tactical) - (answer)- maximize the supply chain surplus over the planning horizon quarter to a
year
- ex: which markets will be supplied from which locations, the subcontracting of manufacturing, the
inventory policies to be followed, the timing and size of marketing and price promotions
operational (functional) - (answer)- make decision regarding individual customer orders (weekly or daily)
- ex: allocate inventory or production to individual orders, set a date by which an order is to be filled,
generate pick lists at a warehouse, set delivery schedules of trucks, place replenishment orders
operations strategy - (answer)- a set of competitive priorities
- coupled with supply chain structural and infrastructural design choices
- intended to create capabilities that support value prop for key customers
value proposition - (answer)- all of the tangible and intangible "benefits" that customers can expect to
obtain by using the products offered by the firm
- presented as a statement of product and service features and defines how the business competes as
well as the types of products that it will offer
5 main characteristics of value proposition - (answer)1.) it offers a combination of product features that
customers find attractive and are willing to pay for
2.) it differentiates the firm from its competition in a way that is difficult to imitate
3.) it satisfies the financial and strategic objectives of the firm
4.) it can be reliably delivered given the operational capabilities of the firm and its supporting supply
chain
