BA339 Chapter 1 & 2, Operations and Supply Chain Management: THE CORE, F. Robert Jacobs, Richard B. Chase Questions with Answers

BA339 Chapter 1 & 2, Operations and Supply Chain Management: THE CORE, F. Robert Jacobs, Richard B. Chase Questions with Answers Operations and supply chain management (OSCM) - correct answersThe design, operation, and improvement of the systems that create and deliver the firm's primary products and services. Process - correct answersMade up of one or more activities that transform inputs into outputs What are the operations and supply chain processes? - correct answersPlanning Sourcing Making Delivering Returning Planning - correct answersHow anticipated demand will be met with available resources Processes needed to operate an existing supply chain Sourcing - correct answersThe selection of suppliers that will deliver the goods and services needed to create the firm's product Making - correct answersWhere the major product is produced or the service provided. Delivering - correct answersLogistic processes such as selecting carriers, coordinating movement of goods and information, and collecting payment from customers. Returning - correct answersProcess for receiving worn-out, defective, and excess products back from customers and support for customers who have problems with delivered products. Success depends upon: - correct answersStrategy Processes to deliver products and services Analytics to support the decisions needed to manage the firm Operations - correct answersManufacturing and services processes used to transform resources into products Supply Chain - correct answersProcesses that move information and material to and from the firm Involves: Logistics, Warehousing, and Information Goods - correct answersTangible Less interaction with customers Often homogeneous Not perishable- can be inventoried Services - correct answersIntangible Interaction with customer required Inherently heterogeneous Perishable/time dependent Defined and evaluated as a package of features What is product/service bundling? - correct answersThe practice of building service activities into products to create additional value for the customer Example of pure goods - correct answersFood products Chemicals Book publishing Example of core goods - correct answersAppliances Data storage systems Automobiles Efficiency - correct answersDoing something at the lowest possible cost Effectiveness - correct answersDoing the things that will create the most value for the customer Value - correct answersThe attractiveness of a product relative to its cost