SCHM 2301 Exam 1 Questions & Answers | 100% Verified
solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM
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IAEM CEM/AEM Practice Exam MOT final exam study guide FPQP - Module 1 - The Financial Pla... SD
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Terms in this set (78)
supply chain management - 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 - 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 - 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 - "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 - 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
strategy (design) - 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) - 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) - 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 - 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 - 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 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
5.) it is consistent with the firm's social and core values.
key customer - customers critical to firm's success and receives firm's focus
- managers need to know what product and service features they consider
important, what they are willing to pay, and what levels of performance they
consider acceptable
solutions (2026) UPDATE |2026!! STUDY GUIDE EXAM
Leave the first rating
Save
Students also studied
Flashcard sets Study guides
IAEM CEM/AEM Practice Exam MOT final exam study guide FPQP - Module 1 - The Financial Pla... SD
Teacher 98 terms Teacher 28 terms Teacher 23 terms Te
Rosaline_Bundi3 Preview patrickkaylian15 Preview Marcus_fx Preview
Terms in this set (78)
supply chain management - 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 - 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 - 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 - "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 - 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
strategy (design) - 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) - 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) - 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 - 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 - 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 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
5.) it is consistent with the firm's social and core values.
key customer - customers critical to firm's success and receives firm's focus
- managers need to know what product and service features they consider
important, what they are willing to pay, and what levels of performance they
consider acceptable
