Exam 1: Operations and Supply Chain Strategy

Mass customization involves keeping products in a standard format and then adding unique components for the individual customer at the last possible moment.

The distinction between manufacturing and service is much less ambiguous at the individual process level than at the organizational level.

An infrastructural decision concerning production planning might ask what quantities of a particular item should be produced.

Emphasizing cost,quality,time,and flexibility is an effective strategic approach for operations management.

A firm or supply chain that is focused on low cost will make fundamentally different choices from those made by a company or supply chain that is focused on flexibility.

Which of the following terms does not describe one of the four broad categories of competitive priorities that a company can pursue?

The service bundle is defined as all the value-added physical and intangible items that an organization provides to the customer.

A company's business strategy sets the broad guidelines for what the company will be doing for the near future (the next 6 to 18 months),the mid-range future (the next 2 to 5 years),and the distant future (5 or more years from the present).

Describe a simplified supply chain for personal computers.

The ability to handle a wide range or assortment of products without undue costs is

Using a product promotion is a key operations strategy.

Discuss two key aspects of quality involved in offering a superior product or service to a customer.

Customizing the service bundle helps to create more satisfied customers who are willing to pay a premium for a given service to get it exactly as they want it.

A supply chain is a network of organizations that work together to convert and move goods from

Delivery speed refers to delivering a product when promised,but not necessarily quickly.

The relative rankings of what the company would like to achieve is

Radio frequency identification is a technology that enables mass customization of a product using supply chain strengths.

Supply chain activities include all the following except

Strategic business decisions always have an optimal solution.

Managing services is seen by many as being critical to the success of individual nations,industries,and businesses in the postindustrial economy of the twenty-first century.