Production and logistics management Study guides, Class notes & Summaries

SCMN 2150: Exam 1 Modules 1-4 Robert Straw Questions and Answers 100% Pass According to the Module 1 readings, what benefit is achieved by supply chain integration? A. reduced facility investment B. greater demand planning accuracy C. greater equipment utilization D. rationalized product handling B. greater demand planning accuracy According to the Module 1 readings, the ______ process focuses on minimizing the number of items that enter a backward flow due to defects, being out...

CIPS Level 4 Module 1 Questions and Answers Rated A+ The Purchasing process 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply recognition of the fact that the purchasing function has a role in not just "buying inputs" but in "securing supply" Direct Costs These are costs which can be identified directly with the production of a good or service; e.g. raw materials. Usually ...

SCMN 2150 Test 2 Questions and Answers with Verified Solutions What is procurement? The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? The process of analyzing an organization...

Operations management is important because: -Managers need to continually find ways to automate processes -It is more important than finance or marketing -It affects the quality of life of workers and consumers -It is a major cost for firms that needs to be minimized It affects the quality of life of workers and consumers Which of the following challenges is most likely to be faced by service operations managers, rather than manufacturing operations managers? -The "total produc...

CLA FINAL EXAM ALL POSSIBLE QUESTIONS AND ANSWERS WITH COMPLETE SOLUTION;(CLA QUIZ BANK) Companies use color coded signs and markings to communicate safety information in the workplace. Which of the following colors typically means warning? Ans- Orange Which of the following is an assessment of potential to a worker's safety? Ans- Hazard analysis Which of the following allows for a computer to communicate directly with a supplier's computer 24 hours a day, seven days a week? An...

According to the Module 1 readings, what benefit is achieved by supply chain integration? A. reduced facility investment B. greater demand planning accuracy C. greater equipment utilization D. rationalized product handling - Answer-B. greater demand planning accuracy According to the Module 1 readings, the ______ process focuses on minimizing the number of items that enter a backward flow due to defects, being out of date, or needing to be recycled. A. deliver B. return C. make D. plan...

Test Bank for Marketing Management 15th Edition by Keller & Kotler Complete All Chapters (Revised Version). Marketing Management, 15e (Kotler) Chapter 2 Developing Marketing Strategies and Plans B) strategic marketing plan C) corporate tactical plan D) corporate 1) The task of any business is to ________. A) create customer needs B) differentiate in terms of cost of production C) deliver customer value at a profit D) reduce competition E) communicate similar value as provided by competi...

GMS 401 - Midterm 1 Latest 2024 Already Passed Operations Management the management of activities and resources that create goods and or provide services Activities in Operations Forecasting Capacity Planning Scheduling Managing Inventories Assuring Quality Employee Motivation and Training Location of Facilities Buying Materials Efficiency Operating at minimum cost and time Effectiveness Achieving quality and timeliness Functions within Organizations Finance ->Operat...

SCMN 2150 Exam 1 Questions and Answers Graded A+ What is a supply chain? a collection of organizations, people, activities, information, and resources who is involved in the supply chain? customers, retailers, manufacturers, and suppliers what is supply chain management? All the activities that take place to get a product in your hands from the time of raw materials to final product Why is SCM important to companies? SCM helps companies outpace the competition (better, faster, ...

Success in SCMT depends on (3) correct answers 1. strategy - goal; something that everyone agrees into/has to be aligned with to move on 2. processes - to deliver products and services 3. analytics - to support the decisions needed to manage the firm 3 A's correct answers 1. Automation 2. Artificial Intelligence Ex; Siri, Tesla mapping roads; Big Blue (computer chess player) 3. Analytics - to see what's working/what's not - adjusting strategy - tailoring message to t...