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Supply Chain Management > Test 3 Blueprint > Flashcards

Test 3 Blueprint Flashcards

1
Q

a plan for the company
that clearly defines:
– the company’s long-term
goals
– how it plans to achieve
these goals, and
– the way the company plans
to differentiate itself from its
competitors
can be described as?

A

The Business Strategy

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2
Q

T/F- Supply chain Strat supports business strategy

A

True

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3
Q

a long-range plan for the
design and ongoing
management of all supply
chain decisions that
support the business
strategy is known as?

A

Supply Chain Strategy

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4
Q

All organizational functions should be designed to support the business strategy (which involve six parts of a company) what are the 6?

A

-Supply Chain Management (SCM)
– Marketing
– Operations
– Distribution
– Purchasing
– Finance

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5
Q

All organizational functions should be designed to support the business strategy is also known as

A

Strategic Alignment

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6
Q

A well designed supply chain can provide companies with needed competitive advantage. Two advantages provide a basis of strategy and competitive positioning in the marketplace and they are known as?

A
  • Cost-Productivity Advantage
    – Value Advantage
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7
Q

Which competitive advantage comes from offering the lowest cost product or service

A

Cost-Productivity Advantage

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8
Q

What are the contributing factors to the cost-productivity advantage?

A

1) High volume contributes to cost advantage (such as economies of scale)
2) Experience Curve ( the more you do- the more skilled and efficient)

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9
Q

What business feature refers to organizational costs that are reduced due to experience that results from processing a higher volume

A

Experience Curve

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10
Q

What enable the company to spread its fixed costs over a greater volume

A

Economies of Scale

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11
Q

Segmenting the market based on features preferred by different customer groups is known as

A

Value Segments

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12
Q

Which competitive advantage comes from providing a product/service with the greatest perceived differential value compare with its competitors

A

Value Advantage

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13
Q

What are methods to gain a value advantage?

A
  • Identify “Value-Segments”
  • Service
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14
Q

T/F- SCM as a source value (cost-value adv) is the most desirable and offers the best differentiation from other competition

A

False- SCM as a source value (cost-value adv) is the least desirable and offers no differentiation from other competition

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15
Q

T/F- Supply chain improvements can reduce inventory, distribution and coordination costs

A

True

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16
Q

Which strategy determines the design & manufacture of a company’s manufacturing processes. This strategy also designs internal processes and determines the equipment, tech and employees required for project.

A

Operations Strategy

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17
Q

The *** strategy involves decisions about how it will produce goods and services

A

Operations

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18
Q

What strategy determines the degree of product customization offered

A

Product Positioning Strategy

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19
Q

T/F- The operations strategy is a dynamic process that needs to change as the product moves through different life-cycle changes

A

True

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20
Q

What operations strategy relates to the form in which the company stores its finished products and delivery lead time

A

Product Positioning Strategy

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21
Q

What are the three different types of Product Positioning Strategy?

A
  • Make to stock
  • Assemble to order
  • Make to order
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22
Q

What is the best operation strategy for standardized products that sell in high volume

A

Make-to-stock

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23
Q

Which operations strategy is best for producing large production batches and providing. finished products in inventory. These are typically assembly line operations and delivery lead time is shortest
- no customer involvement in product design

A

Make-to-stock

24
Q

Which operations strategy states that the product is partially completed and kept in a generic form, then finished when an order is received

A

Assemble-to-order

25
Q

Which operations strategy is best for providing many variations of the end product.
The standard components are held in inventory, the components are then combined to the customer specifications.
- shorter lead times than make-to-order
- low finished-goods inventory

A

Assemble-to-order

26
Q

The product is made to customer specifications after an order has been received

A

Make-to-order

27
Q

Which operation strategy is for customized products or products with infrequent demand

A

Make-to-order

28
Q

Which operation strategy has the shortest delivery lead time?

A

Make-to-stock

29
Q

Which operation strategy has the longest delivery lead time?

A

Make-to-order

30
Q

What strategy determines how the company plans to get its products and services to customers

A

Distribution Strategy

31
Q

When purchasing an item online this process is known as a (direct or indirect) sale

A

Direct because you ordered it and it will go straight to you from the company

32
Q

When purchasing an item at a chain store like Belk, after you purchase the item what is this considered as (direct or indirect) sale

A

Indirect because the sale is going through channel intermediaries ( retail or wholesale stores) before the profit can get back to the supplier

33
Q

What strategy determines which aspects of a company’s business it is going to outsource and which ones it will retain internally

A

Sourcing Strategy

34
Q

What are the 3 advantages of outsourcing?

A

-Cost savings
-able to expand into new markets/ geographical ares
- ability to achieve technological capability

35
Q

What are the risks of outsourcing?

A
  • Loss of control
  • Dependency
36
Q

T/F- It is rare for a company to outsource 100% of manufacturing (NIKE), but common for companies to outsource to 3PLS

A

True

37
Q

What strategy determines how the company is going to meet the demands of its customers

A

Customer Service strategy

38
Q

T/F- For customer service strategy, the market is divided by volume and profitability

A

True

39
Q

Which strategy should be based 1st on the overall volume and profitability of market segments and have the ability to understand what customers in each segment
want and decide how to meet customers demands

A

Customer service strategy

40
Q

The way a company competes in the marketplace is called

A

Competitive Priority

41
Q

What are the 5 competitive priorities of strategic design?

A

1) Cost
2) Quality
3) Time
4) Innovation
5) Service

42
Q

T/F- Companies that compete on cost offer products the highest price possible

A

False, Companies that compete on cost offer products do it at the lowest price possible

43
Q

What are four supply chain considerations for companies that compete on cost?

A
  • asset utilization
  • inventory days of supply
  • product and supply chain costs
  • product and process standardization
44
Q

T/F- Companies that compete on time deliver products in as short a time as possible

A

True

45
Q

What are three ways companies can utilize competing on time?

A
  • tech to speed processes
  • flexible workforce for peak demands
    -system analysis to eliminate/combine processes
46
Q

T/F- Companies that compete on innovation focus on developing “must have” products

A

True

47
Q

Companies that use competing on innovation focus on what two details?

A

Speed and product design collaboration
Have a very SHORT window of opportunity before copied

48
Q

The supply chain has the ability to easily trace a product

A

Product Traceability

49
Q

Companies that compete on ** tailor their products to meet the specific needs of target customers

A

Compete on service

50
Q

Companies that compete on service rely on what three characteristics

A

Customer Loyalty
Consistency
Reliability

50
Q

Companies that compete on *** have products and services known for their premium nature. What am I referring to?

A

Compete on Quality

51
Q

Characteristics that qualify the company to participate in a particular market are known as

A

Order Qualifiers

52
Q

T/F- companies that win orders are known as

A

Order Winners

53
Q

Larger firms have advantages they can offer and receive. What is an advantage of a large firm to customers? to the firm?

A
  • Quantity discounts
  • high degree of supply chain control
54
Q

T/F-Smaller companies can develop supply chain strategies within a particular market segment

A

True

55
Q

Study last 30 on other set of flash cards!!!

A

Supply Chain Management (11 decks)

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