CPIM1 Section A (Quiz A Practice) Quizzes &
Complete Answers
Simultaneous engineering
A company is seeking to design a new product as a low-cost manufacturer. Which of the following
design methods brings product and process design groups together to achieve this objective?
How can the objectives of marketing be met while also considering other stakeholder objectives?
Marketing and production objectives can be met with higher inventories.
qualifier
The price for a product must fall within a certain range for a supplier to be considered by potential
customers. This condition is known as an order:
Which of the following entities or conditions impacts demand by providing expectations that products
will be sold at a fair price, that higher quality is required, that delivery lead time is negligible, that
before- and after-sales service is available, and that products and their volumes are flexible?
Customers
How is a strategic plan different from a business plan?
A strategic plan contains the company's vision, mission statement, goals, and objectives.
A statement of long-range strategy and revenue, cost, and profit objectives usually accompanied by
budgets, a projected balance sheet, and a cash flow is called a:
business plan.
How is a business plan different from a strategic plan?
A business plan focuses on the long-range financial objectives of a company.
Why does the UN Global Compact single out supply chain partners as an important factor in a firm's
ability to comply with its 10 principles?
It motivates suppliers in countries with low labor costs toward compliance.
A piece of electronics equipment is several years old, and new models with new functionality are
common on store shelves. Which of the following factors are likely to be more important to
consumers when choosing this product?
Price and delivery
Which of the following entities or conditions impacts customer demand due to decisions that
consumers and companies must make regarding financial resources?
Economy
The competitive characteristics that persuade a customer to choose one company's products over
those of another company are called:
order winners.
Complete Answers
Simultaneous engineering
A company is seeking to design a new product as a low-cost manufacturer. Which of the following
design methods brings product and process design groups together to achieve this objective?
How can the objectives of marketing be met while also considering other stakeholder objectives?
Marketing and production objectives can be met with higher inventories.
qualifier
The price for a product must fall within a certain range for a supplier to be considered by potential
customers. This condition is known as an order:
Which of the following entities or conditions impacts demand by providing expectations that products
will be sold at a fair price, that higher quality is required, that delivery lead time is negligible, that
before- and after-sales service is available, and that products and their volumes are flexible?
Customers
How is a strategic plan different from a business plan?
A strategic plan contains the company's vision, mission statement, goals, and objectives.
A statement of long-range strategy and revenue, cost, and profit objectives usually accompanied by
budgets, a projected balance sheet, and a cash flow is called a:
business plan.
How is a business plan different from a strategic plan?
A business plan focuses on the long-range financial objectives of a company.
Why does the UN Global Compact single out supply chain partners as an important factor in a firm's
ability to comply with its 10 principles?
It motivates suppliers in countries with low labor costs toward compliance.
A piece of electronics equipment is several years old, and new models with new functionality are
common on store shelves. Which of the following factors are likely to be more important to
consumers when choosing this product?
Price and delivery
Which of the following entities or conditions impacts customer demand due to decisions that
consumers and companies must make regarding financial resources?
Economy
The competitive characteristics that persuade a customer to choose one company's products over
those of another company are called:
order winners.
