Exam 1: Operations and Supply Chain Management

One of the "package of features" that make up a service is:

Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street?

Internet technology has made the sharing of reliable real-time information expensive.

Identify the most appropriate answer regarding Cash conversion cycle. A. Is also known as cash-to-cash cycle. B. Cash conversion cycle goes down if payable period goes up. C. Cash conversion cycle goes up if average inventory goes up.

Effectiveness means doing the right things to create the most value for the company.

The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology.

"Supply Chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm.

During a recession, efficient firms often have an opportunity to increase market share while maintaining profitability.

Raising senior management awareness of OSCM as a competitive weapon is not an important issue.

A process can be effective without being efficient.

The approach that advocates making revolutionary changes as opposed to evolutionary changes is called "business process reengineering."

The central idea of supply chain management is to apply a total system approach to managing the flow of information, materials, and services from raw material suppliers through factories and warehouses to the end customer.

Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals.