Scm Exam 1

Front 1

A potential career path in operations and supply chain management is a __ , who acquires knowledge in a specific market in which the organization purchases significant quantities of materials and services

Back 1

Commodity manager

Front 2

Over the past 25 years no single trend has done more to change the nature of business than the internet and the resulting breakthrough in

Back 2

E-commerce

Front 3

Is the planning scheduling and control of the activities that transform inputs into finished goods and services

Back 3

Operations management

Front 4

Commodity managers...

Back 4

Acquires knowledge in a specific market in which the organization purchases significant quantities of materials and services

Front 5

Plans and controls production in a manufacturing setting and is responsible for a wide range of personnel

Back 5

Production manager

Front 6

A term used to describe activities or firms that are positioned earlier in the supply chain relative to some other activity or firm of interest

Back 6

Upstream

Front 7

A first tier supplier

Back 7

Provides product or services directly to a firm

Front 8

Supply chain management is

Back 8

The active management of supply chain activities and relationships in order to maximize customer value and achieve a sustainable competitive advantage

Front 9

A term used to describe activities or firms that are positioned later in the supply chain relative to some other activity or firm of interest

Back 9

Downstream

Front 10

According to the SCOR model supply chain management covers five broad areas including return activities which...

Back 10

Include the activities necessary to return and process defective or excess products or materials

Front 11

The operation function is...

Back 11

The collection of people technology and systems within an organization that has primary responsibility for providing the organization's products or services

Front 12

Uses analytical and quantative methods to understand predict and improve processes within supply chain

Back 12

Analyst

Front 13

According to the SCOR model supply chain management covers five broad areas including "make" or __ which cover the actual production of a good or service

Back 13

Production activities

Front 14

1 of 5 areas in SCOR model which seek to balance demand requirements against resources and communicate these plans to the various participants

Back 14

Planning activities

Front 15

A network of manufacturers and service providers that work together to create products or services needed by end users

Back 15

A supply chain

Front 16

1 of 5 areas of the SCOR model which include everything from entering customer orders and determining delivery dates to storing and moving goods to the final destination

Back 16

Delivery activities

Front 17

In the internally neutral stage of alignment

Back 17

Management seeks only to minimize any negative potential in the operations and supply chain areas

Front 18

An infrastructural element

Back 18

Is one of the two major decision categories addressed by a strategy and includes the policies people decision rules and organizational structure choices made by a firm

Front 19

In the __ stage of alignment the operations and supply chain areas do more than just support the business strategy the business strategy actively seeks to exploit the core competencies found within these areas

Back 19

Externally support stage

Front 20

Is a decision by a firm to emphasize one performance dimension may conflict with excellence on others

Back 20

Trade off

Front 21

Conformance quality is

Back 21

Whether a product was made or a service performed to specifications

Front 22

Addresses whether a product will work for a long time without failing or requiring maintenance

Back 22

Reliability quality

Front 23

In the __ of alignment industry practice is followed based on the assumption that what works for competitors will work for the company

Back 23

Externally neutral

Front 24

Ability to produce whatever volume the customer needs

Back 24

Volume flexibility

Front 25

Identifies a firms targeted customers and sets time frames and performance objective for the business

Back 25

Business strategy

Front 26

Is the characteristics of a product or service that bear on its ability to satisfy stated or implied needs

Back 26

Quality

Front 27

Mix flexibility is

Back 27

The ability to produce a wide range of products or services

Front 28

Is the ability to provide a new product with minimal delay

Back 28

Changeover flexibility

Front 29

Flexibility is

Back 29

A performance dimension that considers how quickly operations and supply chains can respond to the unique needs of customers

Front 30

An operations and supply chain strategy...

Back 30

Indicates how structural and infrastructural elements within the operations and supply chain areas will be acquired and developed to support the overall business strategy

Front 31

Addresses the basic operating characteristics of a product or service

Back 31

Performance quality

Front 32

In the __ of alignment the operations and supply chain areas participate in the strategic debate

Back 32

Internally supportive stage

Front 33

A functional strategy...

Back 33

Translates a business strategy into specific actions for functional areas such as marketing human resources and finance

Front 34

Is an organizational strength or ability developed over a long period that customers find valuable and competitors find difficult or even impossible to copy

Back 34

Core competency

Front 35

Is one of two major decision categories addressed by a strategy. It includes tangible resources such as buildings equipment and computer systems

Back 35

Structural element

Front 36

The the __ of alignment management seeks only to minimize any negative potential in the operations and supply chain areas

Back 36

Internally neutral

Front 37

Measures the bias of a forecast model, or the propensity of a model to under or over forecast

Back 37

MFE

Front 38

States that forecasts for the near term tend to be more accurate. The law recognises that in the near term the factors that effect the forecast variable are not likely to change greatly

Back 38

Law 2

Front 39

The Delphi method is

Back 39

A qualitative forecasting technique in which experts work individually to develop forecasts

Front 40

By taking the average of the absolute value of the forecast errors, MAD tracks

Back 40

The average size of the errors regardless of direction

Front 41

Randomness is

Back 41

Unpredictable movement from one time period to the next

Front 42

When little or no data is available the best forecasting methods to use are __ such as market surveys

Back 42

Qualitative techniques

Front 43

The __ is used to flag a forecasting model that is getting out of control

Back 43

Tracking signal

Front 44

Is a long term movement up or down in a specified amount of time

Back 44

A trend

Front 45

The life cycle analogy method is

Back 45

A qualitative forecasting technique that attempts to identify the time frames and demand levels for the introduction growth maturity and decline life cycle stages of a new product or service

Front 46

The casual forecasting model is

Back 46

A class of quantitative forecasting models in which the forecast is modeled as a function of something other than time

Front 47

Law 3 states__. Many businesses have found that it is easier and more accurate to forecast for groups of products or services than it is to forecast for specific ones

Back 47

Forecasts for groups of products or services tend to be more accurate

Front 48

Is a qualitative forecasting technique that brings experts together to discuss and develop a forecast

Back 48

Panel consensus forecasting

Front 49

__, qualitative techniques are used and are based on intuition or an informed opinion

Back 49

When historical data are scarce not available or irrelevant

Front 50

When the future level of some variable is seen as a function of time the best forecasting methods to use are __ such as moving average

Back 50

Time series models

Front 51

Is a qualitative forecasting technique in which individuals familiar with specific market segments estimate the demand within these segments. These individual forecasts are then added up to get an overall forecast

Back 51

Build up forecasting

Front 52

Law 1 states __. Even under the best of conditions no forecasting approach can predict the exact level of future demand supply or price

Back 52

Forecasts are almost always wrong

Front 53

The __ is a time series forecasting model that derives a forecast by taking an average of recent demand values

Back 53

Moving average model

Front 54

Is the best forecasting models to use are casual models such as linear regression

Back 54

When the future level of some variable is seen as a function of something other than time

Front 55

Is a repeated pattern of spikes or drops in a specified amount of time associated with certain times of the year

Back 55

Seasonality

Front 56

Is an approach that services commonly use with highly perishable products in which prices are regularly adjusted to maximize total profit

Back 56

Yield management

Front 57

There's an upside to linking the s&op process with supply chain partners . For one thing coordinating plans across the supply chain__

Back 57

Can help firms do a better job of improving overall supply chain performance particularly in the area of cost

Front 58

Bottom up planning is

Back 58

An approach to s&op that is used when the product/service mix is unstable and resource requirements vary greatly across the offerings

Front 59

Offloading is

Back 59

A strategy for reducingand smoothing out workforce requirements that involves having customers perform part of the work themselves

Front 60

Linking plans can help eliminate uncertainty thereby...

Back 60

Improving synchronization between supply chain partners

Front 61

A constraint is

Back 61

A quantifiable condition that places limitations on the set of possible solutions

Front 62

In the __ of implementing s&op, s&op becomes a part of the organization's normal planning activities

Back 62

Second phase

Front 63

Tactical planning is

Back 63

Planning that covers a shorter period of usually 12 to 24 months out

Front 64

An optimization model is

Back 64

A class of mathematical models used when the user seeks to optimize some objective function subject to some constraints

Front 65

Sales and operations plans must be updated on a regular basis to remain current. Most firms do this by __

Back 65

Establishing a rolling planning horizon which requires them to update the sales and operations plan regularly usually on a monthly basis

Front 66

This term refers to a sales and operations plan in which production is held constant and inventory is used to absorb differences between production and the sales forecast

Back 66

Level production plan

Front 67

A chase production plan is

Back 67

A sales and operations plan in which production is changed in each time period to match the sales forecast

Front 68

An objective function is

Back 68

A quantitative function that an optimization model seeks to optimize

Front 69

Is planning that takes place at the highest levels of the firm addressing needs that might not arise for years into the future

Back 69

Strategic planning

Front 70

In the __ of implementing s&op companies build the managerial support and infrastructure needed to make s&op a success

Back 70

First phase

Front 71

This term refers to a sales and operations plan that varies both production and inventory levels in an effort to develop the most effective plan

Back 71

Mixed production plan

Front 72

Is a process to develop tactical plans by integrating marketing plans for new and existing products with the management of the supply chain

Back 72

Sales and operations planning

Front 73

Is planning that covers time periods ranging from weeks down to just a few hours out

Back 73

Detailed planning and control

Front 74

Is a strategy used to vary workforce levels in which additional full time or part time employees are hired during peak demand periods while a smaller permanent staff is maintained year round

Back 74

A tiered workforce

Front 75

In the final phase of implementing s&op

Back 75

A few companies reach the point where there s&op process actually becomes a source of competitive advantage - a core competency

Front 76

As long as each functional area in a company operates efficiently their strategies can be very different. True or false?

Back 76

False

Front 77

When the functional strategy then feeds back into business strategy it's called

Back 77

Closing the loop

Front 78

Investing in equipment is what type of strategy element

Back 78

Structural

Front 79

When the supply chain function works with marketing to develop planning numbers such as customer demand and availibilty of supply which are needed for effective decision making

Back 79

Forecasting

Front 80

Performance dimensions which differentiate a company's products and services is the definition of

Back 80

Order winner

Front 81

Efforts to improve cooperation among firms in the supply chain can be characterized as...

Back 81

Relationship management

Front 82

The supply chain function works with marketing to manage the movement of physical goods throughout the supply chain. This chain activity is...

Back 82

Logistics

Front 83

A major operations and supply chain structural decision category

Back 83

Capacity

Front 84

Core competencies are

Back 84

Organizational strengths and abilities that have been developed over time

Front 85

What's the best forecast

Back 85

The one with a MAD of 0

Front 86

A qualitative forecasting method which brings experts together to jointly discuss and develop forecasts is

Back 86

Panel consensus forecasting

Front 87

Which quantitative techniques can be a casual model?

Back 87

Linear progression

Front 88

What's true about forecasts

Back 88

Forecasts for groups of products tend to be more accurate

Front 89

The approach to s&op that is used when the mix of products or services is the same from one period to the next and resource needs are similar across various products offered is

Back 89

Top down planning

Front 90

The greater the randomness in the model the greater the number of periods that should be used in a moving average forecast. True or false?

Back 90

True

Front 91

Exponential smoothing is a __ forecasting model

Back 91

Time series