Ch 1

Question 1

Five Major Decision Categories

Answer 1

Process, Quality, Capacity, Inventory, and Supply Chain

Question 2

Operations and It’s Associated Supply Chain produces and delivers

Answer 2

Goods or services that customers need in a global economy

-Must be done in an efficient low cost manner, consistent with business strategy, risk, and sustainability

Question 3

Operations and supply chain management focuses on

Answer 3

Decisions for the production, sourcing, and delivery of the firm’s products and services

-Intended to maximize firm profitability and the value inherent in goods or services delivered to customers throughout the entire supply chain

Question 4

The supply chain is

Answer 4

the network of manufacturing and service operations that supply each other from raw materials through manufacturing to the ultimate customer

Question 5

The supply chain consists of

Answer 5

the physical flow of materials, money, and information along the entire chain of suppliers, production, and distribution and the reverse supply chain of recycled and returned products and information

Question 6

Five key groupings decisions in operations and supply chain management

Answer 6

-process, quality, capacity, inventory, and supply chain

-these decisions need to utilize analytics when appropriate to make the best managerial decisions

Question 7

Operations and supply chain decisions are often ____ in nature

Answer 7

Cross Functional

Decisions may impact or be impacted by activities in other functions such as marketing and finance

Cross functional teams are formed to undertake complex decisions

Question 8

Several opportunities and trends facing operations and supply chain managers that are emerging and will be important in the future

Answer 8

Sustainability, services, digital technologies, supply chain resilience, and global supply chains