MGT 3500 Exam Questions With
Complete Solutions
/. What is product-service bundling - Answer-Product-service bundling is adding Value-
added services to a firm's product offerings to create more value for the customer.
/.What are the three elements that require integration to be successful in operations and
supply chain management? - Answer-Strategy, Processes, and Analytics
/.Operations and supply chain management is concerned with the design and
management of the entire system that has what function? - Answer-Produces a product
or delivers a service
/.Which major OSCM concept can be described as an integrated set of activities
designed to achieve high-volume production using minimal inventories of parts that
arrive at workstations exactly when they are needed - Answer-Just-in-time (JIT)
production
/.Operations and supply chain ________________ leverage the vast amount of data in
enterprise resource planning systems to make decisions related to managing resources.
- Answer-analytics
/.Which current issue in OSCM relates to the ability of a firm to maintain balance in a
system, considering the ongoing economic, employee, and environmental viability of the
firm? - Answer-Sustainability
/.What is the name of the process in which one company studies the processes of
another firm in order to identify best practices? - Answer-Benchmarking
/.Shell Oil Company's motto "People, Planet and Profit" is a real-world implementation
of what OSCM concept? - Answer-Triple bottom line
/.2. A firm's strategy should describe how it intends to create and sustain value for
________________________. - Answer-its current shareholders
/.3. What is the term used to describe individuals or organizations that are influenced by
the actions of the firm? - Answer-Stakeholders
/.4. How often should a company develop and refine the operations and supply chain
strategy. - Answer-At least yearly
, /.5. What is the term used to describe product attributes that attract certain customers
and can be used to form the competitive position of a firm? - Answer-Competitive
dimensions
/.6. What are the two main competitive dimensions related to product delivery? -
Answer-Delivery speed and delivery reliability
/.7. What are the two characteristics of a product or service that define quality? -
Answer-Design quality and process quality
/.8. A diagram that shows how a company's strategy is delivered by a set of supporting
activities is called a _____________________________. - Answer-activity-system map
/.9. In implementing supply chain strategy a firm must minimize its total cost without
compromising the needs of its ____________________________. - Answer-Customers
/.10. What is defined as the likelihood of disruption that would impact the ability of a
company to continuously supply products or services? - Answer-Supply chain risk
/.11. Risks caused by natural or manmade disasters, and therefore impossible to
reliably predict, are called ______________________. - Answer-Disruption risks
/.Country risks - Answer-Currency hedging, local sourcing
/.Regulatory risk - Answer-Good legal advice, compliance
/.Logistics failure - Answer-Detailed tracking, alternate suppliers
/.Natural disaster - Answer-Contingency planning, insurance
/.Major quality failure - Answer-Carefully select and monitor suppliers
/.13. The assessment of the probability of a negative event against the aggregate
severity of the related loss is called _____________________________. - Answer-Risk
mapping
/.1. Which phase of the generic development process involves construction and
evaluation of multiple preproduction versions of the product? - Answer-Testing and
refinement
/.2. A process that emphasizes cross-functional integration and concurrent development
of a product and its associated processes is known as _________________________. -
Answer-Concurrent engineering
/.Technology-push products - Answer-A firm with a new proprietary technology seeks
out a market where that technology can be applied.
Complete Solutions
/. What is product-service bundling - Answer-Product-service bundling is adding Value-
added services to a firm's product offerings to create more value for the customer.
/.What are the three elements that require integration to be successful in operations and
supply chain management? - Answer-Strategy, Processes, and Analytics
/.Operations and supply chain management is concerned with the design and
management of the entire system that has what function? - Answer-Produces a product
or delivers a service
/.Which major OSCM concept can be described as an integrated set of activities
designed to achieve high-volume production using minimal inventories of parts that
arrive at workstations exactly when they are needed - Answer-Just-in-time (JIT)
production
/.Operations and supply chain ________________ leverage the vast amount of data in
enterprise resource planning systems to make decisions related to managing resources.
- Answer-analytics
/.Which current issue in OSCM relates to the ability of a firm to maintain balance in a
system, considering the ongoing economic, employee, and environmental viability of the
firm? - Answer-Sustainability
/.What is the name of the process in which one company studies the processes of
another firm in order to identify best practices? - Answer-Benchmarking
/.Shell Oil Company's motto "People, Planet and Profit" is a real-world implementation
of what OSCM concept? - Answer-Triple bottom line
/.2. A firm's strategy should describe how it intends to create and sustain value for
________________________. - Answer-its current shareholders
/.3. What is the term used to describe individuals or organizations that are influenced by
the actions of the firm? - Answer-Stakeholders
/.4. How often should a company develop and refine the operations and supply chain
strategy. - Answer-At least yearly
, /.5. What is the term used to describe product attributes that attract certain customers
and can be used to form the competitive position of a firm? - Answer-Competitive
dimensions
/.6. What are the two main competitive dimensions related to product delivery? -
Answer-Delivery speed and delivery reliability
/.7. What are the two characteristics of a product or service that define quality? -
Answer-Design quality and process quality
/.8. A diagram that shows how a company's strategy is delivered by a set of supporting
activities is called a _____________________________. - Answer-activity-system map
/.9. In implementing supply chain strategy a firm must minimize its total cost without
compromising the needs of its ____________________________. - Answer-Customers
/.10. What is defined as the likelihood of disruption that would impact the ability of a
company to continuously supply products or services? - Answer-Supply chain risk
/.11. Risks caused by natural or manmade disasters, and therefore impossible to
reliably predict, are called ______________________. - Answer-Disruption risks
/.Country risks - Answer-Currency hedging, local sourcing
/.Regulatory risk - Answer-Good legal advice, compliance
/.Logistics failure - Answer-Detailed tracking, alternate suppliers
/.Natural disaster - Answer-Contingency planning, insurance
/.Major quality failure - Answer-Carefully select and monitor suppliers
/.13. The assessment of the probability of a negative event against the aggregate
severity of the related loss is called _____________________________. - Answer-Risk
mapping
/.1. Which phase of the generic development process involves construction and
evaluation of multiple preproduction versions of the product? - Answer-Testing and
refinement
/.2. A process that emphasizes cross-functional integration and concurrent development
of a product and its associated processes is known as _________________________. -
Answer-Concurrent engineering
/.Technology-push products - Answer-A firm with a new proprietary technology seeks
out a market where that technology can be applied.
