04/29/2013Exam 1Which of the following statements LEAST describes a new competitive environment?A new competitive environment requires the paradigm of OR rather than the paradigm of ANDFill in the blanks with the appropriate combination of words: As the time horizon for planning supply chain activities ___ the accuracy of planning ____Is pulled closer to actual tine (shortens) , improvesTeds wicked dive shop believes that H.S. Sponge is a key profitable customer. Using the traditional accounting technique, what is the cost-to-serve for H.S.Sponge that Teds accounting department would report to the financial community?50,000For the same scenario above, what is a more accurate cost to serve measure using activity based costs?60,000The strategic model can be used to illustrate the impact of logistics and supply chain management on ROA by:Illustrating how supply chain activites impact the components of net profit margin and asset turnover that lead to the return on assets ration Given the pareto chart about, how many of teds wicked dive shop customers cost Ted more money to serve than they generate in sales?14%Companies lose money on a significant percentage of active customers because They cannot identify the actual costs of selling to individual customersGeneral mills Inc is performing various activities to deliver values to customer. It purchases high quality raw materials such as oats and honey and then converts them into honey nut cheerios in Minnesota.They finished goods are distributed to central warehouses located in the major cities. Which activity in porters value chain is not mentioned in the above example?ServiceSupply chain management:Is the systematic coordination of purchasing, manufacturing management, and distribution upstream with suppliers and downstream to customersWhich of the following metrics focuses on total performance of a firms supply chain rather than on the performance of one function?Cash to cash cycleWhich value represents the total cost of this product from sourcing to sale?65,000When we solve a supply chain problem what is the first priority that we need to knowCustomers needsTeds analysis leads him to divide his products and customers into 3 categories based on profitability. What is the purpose of this activity To enable him to serve his best customers at a higher level and promote his best productsIn todays competitive business environment, the most successful firms focus mainly on improving customer satisfaction byImproving how they deliver value to different customer segmentsTwo kinds of customers walk into teds dive shop: college freshmen taking a first time diving class and high end professional divers. In order to deliver the most value to each of these customers Ted should:Focus on creating supply chains that deliever the specific form, time, and place utility that each customersegment is looking for at a price that each segment is willing to payLarry from the sales department wants to increase the volume of sales for a product. To do this he wantsto service a client in a new market that is three times as far from your current distribution center as current markets, although larry might be happy because his sales numbers go up total overall cost might not improve because transportation and other distribution costs would likely increaseA supply chain manager focuses on understanding customers to provide them with what they want. At the same time a supply chain manger strives to produce the products in an efficient way. In a nutshell a supply chain manager tries to serves customers without redundancy and waste. This is calledTotal value optimization If ted realized that he always lost money when selling to one segment of his current customer base, whatis the best thing he could do regarding those customers in the future?Either provide lower levels of service to reduce their cost to serve or raise the price at which he sells to themWhich of the following is NOT the advantage that companies can get from bulk purchasesLower inventory level You’ve finally graduated and are on the job market. In an interview with widget production company, youstart discussing supply chain management with the hiring manager. The hiring manager tells you that at WPC logistics and supply chain management basically mean the same thing. This should indicate to you thatWPC probably does not have a very clear conception of supply chain management because supply chainmanagement is about systematic integration across multiple functionsEstablishing a segmented customer service policy involves all of the following exceptEstablishing a standard customer service policy for all customersWhich of the following utility does general mills provide when it uses food ingredients to produce honey nut cheerio?Form Which of the following is a deficiency of traditional supply chain performance measurements?All of the aboveThe strategic profit model as discussed in class demonstrates the following principle:Small improvements in supply chain activities can yield large improvements in return on assetsInternally generated customer service and quality metrics accurately reflect the customers true perspective. Do you agreeI disagree: customer service metrics should be jointly defined by the supplier and the customerYou walk into teds dive shop and order a custom designed dive mask that is fitted to the specific dimensions of your face. You are really pumped up about the purchase and expect delivery in 10 days. Two weeks later you call ted and ask where your mask is. It turns out the order was shipped in 9 days butto another customer with the same name who lives in Nashville what kind of value did ted fail to provide?PlaceIf you take into account things such as maintenance disposal returns management and training when calculating the true cost of a product/ service you are employing the concept of Total cost of ownershipWhich economic utility is not the main reason why students buy textbooks on amazon.comForm According to the Pareto or 80/20 rule shown aboveThe top 20% products and customers by sales or profitability are considered the A category and should receive the highest levels of customer serviceBy expanding business channels which of the following company has been considered as the biggest threat for traditional retailers.AmazonTraditional cost accounting procedures allocate costs to customers based uponThe percent of total sales represented by each cutomerTed read somewhere about
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