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CPIM > Test 1: Module 1 > Flashcards

Test 1: Module 1 Flashcards

1
Q

The Supply Chain for returns

A

Reverse Logistics

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2
Q

Competitive characteristics that a firm must exhibit to be a viable competitor in the market place

A

Order Qualifier

Example: A certain minimum level of quality for an item

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3
Q

The competitive characteristics that cause a firm’s customers to choose that firm’s goods and services over those of it’s competitors.

A

Order Winners

Ex: A unique capability no other competitor has

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4
Q

What is a main cause of product life cycles shrinking?

A

Order winners rarely remain permanently on top due to customer groups have different priorities and ideas of what is considered the best value. Plus, innovation is so constant that order winners shift to order qualifiers rather quickly as new innovation is created.

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5
Q

The shared perception of the organizations future

A

Vision

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6
Q

An organizations statement of its vision

A

Vision statement

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7
Q

The overall goal for an organization set within the parameters of the business scope.

A

Mission

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8
Q

The company statement of purpose

A

Mission Statement

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9
Q

The core values of an organization, defining principles that support the vision, culture, and beliefs of the organization.

A

Value Statement

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10
Q

The vision, mission, and values of an organization together are considered a busineness’s?

A

Corporate Social Responsibility

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11
Q

An examination of all links a company uses to produce and deliver its products and services, starting from the origination point and continuing through the delivery to the final customer

A

Value Chain Analysis

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12
Q

The identification , assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize , monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.

A

Risk Management

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13
Q

The plan for how to marshal and determine actions to support the mission, goals, and objectives of an organization.

A

Strategic Plan

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14
Q

A strategy of making a product distinct from the competition on a nonprice basis such as availability, durability, quality, or reliability.

A

Product differentiation

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15
Q

the financial goals of the strategy are often expressed in a ..

A

business plan

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16
Q

1st tier of Integrated Measurement Model

A

Strategic Goals

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17
Q

2nd Tier of Integrated Measurement Model

A

Balanced Score Card: Financial, Customer, Business Process, Learning & Growth

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18
Q

3rd tier of Integrated Measurement Model

A

Speed, Dependability, Flexibility, Quality Cost (functional things, ie Operations)

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19
Q

4th Tier of Integrated Measurement Model

A

Departmental Performance Metrics

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20
Q

5th Tier of the Integrated Measurement Model

A

Individual Performance Metrics

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21
Q

What does SMART stand for?

A

Specific, Measurable, Attainable, Relevant and Time bound

The goal is to have KPIs that are SMART so that they can translate strategy into actual results

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22
Q

the process of evaluating alternate strategies by answering the consequences of changes to forecasts, manufacturing plans, inventory levels, and so forth

A

What If Analysis

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23
Q

What are the 4 Ps of marketing?

A

product , price, place, promotion

These are a set of marketing tools used to direct the business offerings to the customer

24
Q

The basic plan the marketing function expects to use to achieve its business and marketing objectives in a particular market.

A

Marketing Strategy

*includes marketing expenditures, marketing mix, and marketing allocation

25
Q

in cost volume profit (breakeven) analysis, the “ ___”, is composed of total fixed and variable costs per unit multiplied by the number of units provided. Breakeven quantity occurs where the total cost curve and total sales revenue curve intersect. In inventory theory, the “___” for an inventory item is the sum of costs of acquiring and carrying the item.

A

Total Cost Curve

26
Q

The level of production or the volume of sales at which operations are neither profitable or unprofitable

A

break even point

27
Q

When marketing accepts a loss or low margins to gain market share

A

market penetration pricing

28
Q

The distribution route, from raw materials through consumption, which which products travel

A

Distribution Channels

29
Q

A marketing strategy in which the total market is disaggregated into submarkets, or segments, that share some measurable characteristic based on demographics, psychographics, lifestyle, geography, benefits and so forth

A

Market Segmentation

30
Q

Who are the final recipients of the products or services

A

ultimate customers

31
Q

Who are customers not at the end of the supply chain? Example: they could be manufacturers counted by raw material suppliers as their customers.

A

Intermediate Customers

32
Q

What are all these forms of?
Ideal relationship type, Supplier Capabilities, Customization vs Standardization, Level of Innovation, and Lead times:

A

Suppler Segmentation

This is a key tool in moving an organization to have a responsive supply chain

33
Q

A process to develop tactical plans that provide management the ability to strategically direct its businesses to achieve competitive advantage on a continuous basis. The process brings together all the plans for the business into one integrated set of plans

A

SOP Planning
(Sales + Operation Planing)

34
Q

All customer orders received but not yet shipped

A

Backlog

35
Q

What are the steps of SOP Planning?

A
  1. Data gathering
  2. Demand Planning
  3. Supply Planning
    4.Pre SOP Meeting
  4. Executive Meeting
36
Q

an extreme change in the supply position upstream in a supply chain.

A

bullwhip effect
Ex: inventory quickly from being backordered to being in excess

37
Q

What are the 4 production environments?

A

Make to Stock
Assemble to Order
Make to Order
Engineer to Order

38
Q

A production planning method that maintains a stable inventory level while varying production to meet demand

A

Chase Production Method

39
Q

What are some cots of varying production levels in the chase production method?

A

labor - hiring/laying off throughout year
overtime or short time for production
excess capacity / idle capacity at times

40
Q

a production planning method that maintains a stable production rate while varying inventory levels to meet demand

A

Level production method

41
Q

a production schedule that generates material and labor requirements that are as evenly spread out as possible over time

A

level schedule

42
Q

producers of highly seasonal demand often pursue this strategy

A

Level production method
- this is due to inventory holding costs being lower than the costs of having to vary production levels

43
Q

What are some costs of the level production method?

A

inventory build up - higher holding costs
not meeting demand due to short inventory

44
Q

a listing of required capacity and key resources needed to manufacture one unit of a selected item or gamily

A

bill of resources

45
Q

a close loop information system that includes the planning functions of production planning, master production scheduling, materials planning, and capacity requirements planning .

A

manufacturing planning and control system (MPC)

46
Q

demand management, production and resource planning and master scheduling make up what part of the MPC.

A

Master Planning

47
Q

What are the 5 components of APS (advanced planning and scheduling) systems?

A
  1. Demand Planning
  2. Production Planning
  3. Production Scheduling
  4. Distribution Planning
  5. Transportation Planning
48
Q

Which manufacturing environment tends to have high inventory costs?

A

Make to Stock

49
Q

ATO is often made more economical through a process called?

A

Modularization

50
Q

In Product dev - the use of standardized parts for flexibility and variety.

A

Modularization

51
Q

This environment is best when variety is low to medium and volume is medium to high

A

ATO

52
Q

What has the same lead time as ATO but allows customers to configure a product, selecting from various features and options.

A

Configure to Order (CTO)

53
Q

Which production environment is best when variety is medium to high and volume is low to medium?

A

MTO

54
Q

Which environment is used when items are high on the variety scale and low on the volume scale making them more unique products

A

ETO

55
Q

What is it called when products are worn out and restored to like new condition?

A

Remanufacturing

56
Q

Remanufacturing is an aspect of what?

A

reverse logistics

CPIM (1 decks)

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