Questions with verified correct detailed
Answers latest update 2025
Logistical drivers include --- correct precise answers ---facilities:
places where inventory is stored, assembled, or fabricated; production
and storage sites
inventory: raw materials, WIP, finished goods; inventory policies
Transportation: moving inventory from point to point in a supply
chain; combinations of transportation modes and routes
The choice made for one driver --- correct precise answers ---may
impact others, but in the end they must work together without conflict
Cross functional drivers --- correct precise answers ---information:
data and analysis regarding inventory, transportation, facilities, costs,
pricing, and customers throughout the sc
Sourcing: functions a company performs and functions that are
outsourced
Pricing: price associated with goods and services provided by a
company to the supply chain
,For a supply chain, the focus is no longer --- correct precise answers -
--just within the walls of an organization because it has been
recognized that the competitive playing field has shifted from
company vs company to supply chain vs supply chain. A company's
success may well be determined by the company's partners in the
supply chain
Your success will be constrained by the limits of --- correct precise
answers ---your suppliers and even your customers
Strategy --- correct precise answers ---the art of employing or
devising plans towards a goal
Competitive strategy --- correct precise answers ---the plan to utilize
the products or services of an organization to satisfy the demand or
needs of customers or customer segments
Competitive strategies are also intended to gain --- correct precise
answers ---competitive advantage
,Competitive advantage --- correct precise answers ---the advantage a
company has in attracting new customers and defending against the
loss of current customers to competitiors
Design characteristics of products or services which satisfy customer
needs better than the competition are primarily: --- correct precise
answers ---cost, different (better on some dimension of customer
value), response time
Other design characteristics are --- correct precise answers ---quality,
dependability, durability, ease of use, aftermarket support, and
reputation
It is actually quite difficult to --- correct precise answers ---maintain
a strong competitive advantage
Consistency and support between ___, ___, and ___ is very important -
-- correct precise answers ---competitive strategy, supply chain
strategy, and other functional strageies
Product stages --- correct precise answers ---New product
development, then marketing/sales introduce it, then operation has to
produce it, distribution delivers it and services support it
, _______ are all functional areas that are directly involved in support
of the --- correct precise answers ---Finance, accounting, IT, HR
Supply chain require ____ where free flow of information is critical ---
correct precise answers ---cross functional coordination
Typical functional strategies: --- correct precise answers ---Product
and service development strategy
Marketing and sales strategy
Supply chain strategy
Product and service development strategy --- correct precise answers
---specifies the new products and/or services that the company will
attempt to develop
Marketing and sales strategy --- correct precise answers ---specifies
how the market will be divided and product positioned, priced, and
promoted
4 P's: product, place, price, promotion