Exam 17: Global Production and Supply Chain Management

________ implies that a firm may be able to customize its product range to suit the needs of different customer groups without bearing a significant cost penalty.

The process of planning, implementing, and controlling the efficient, cost-effective flow of raw materials, in-process inventory, finished goods, and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal is called

Products such as refined sugar, certain bulk chemicals, paint, and petroleum products

Central to the concept of economies of scale is the idea that the best way to achieve high efficiency, and hence low unit costs, is through the

________ makes the most sense when differences among countries in factor costs have a substantial impact on the costs of manufacturing in various countries.

There are five strategic levels for global purchasing that can be undertaken by a global company. At which level do companies engage in international purchasing activities as part of the firm's overall supply chain management strategy?

Buying a product from external vendors is highly appropriate when a firm intends to protect proprietary technology.

When a company's product has a low value-to-weight ratio, the company should

This type of facility positions and allows customization of products for delivery to worldwide wholesalers or retailers or directly to consumers anywhere in the world.

Flexible manufacturing technology is also known as

Briefly describe the Six Sigma methodology.

Which of the following products will have low value-to-weight ratios?

Concentration of production should be avoided when important exchange rates are expected to remain relatively stable.

There are five strategic levels for global purchasing that can be undertaken by a global company. At which level do companies engage in global purchasing activities that are integrated across worldwide locations and functional groups?

Which of the following statements is true of Six Sigma?

The upstream portion of the global supply chain includes all of the organizations and resources in the supply chain.

Define just-in-time inventory. Explain why a firm might adopt the just-in-time system. Why might a firm choose a different inventory system?

Poor product quality and low productivity are hidden costs associated with basing production in a foreign location.

At six sigmas, a production process would be highly accurate and create just

Which of the following would lead a firm to choose a concentration of production?