Question 1

Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.

Accepted Answer

Comparing firms from an operations view is important to investors since the relative cost of providing a good or service is essential to high earnings growth.

Question 2

What is a total systems approach to managing the flow of information,materials,and services from raw material suppliers through factories and warehouses to the end customer called? ________________________________

Accepted Answer

The answer of What is a total systems approach to...

Question 3

Processes that are used to transform resources into products are called ________________.

Accepted Answer

The answer of Processes that are used to transform resources...

Question 4

Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street?
A) Inventory turnover
B) Revenue per employee
C) Receivable turnover
D) Earnings per share
E) Asset turnover

Accepted Answer

Earnings per Share is not a measure of operations and supply chain efficiency.

Question 5

The ability to maintain balance in a system is referred to as _______________.

Accepted Answer

The answer of The ability to maintain balance in a...

Question 6

One reason for studying operations and supply chain management (OSCM)is which of the following?
A) OSCM is essential for understanding organizational behavior
B) Most business graduates do OSCM work regardless of their job title
C) All managers should understand the basic principles that guide the design of transformation processes.
D) OSCM is a required course in all business degree programs
E) OSCM is the most rigorous business discipline

Accepted Answer

All managers should understand the basic principles that guide the design of transformation processes.

Question 7

Doing something at the lowest possible cost is called: ________________.

Accepted Answer

The answer of Doing something at the lowest possible cost...

Question 8

Which of the following is not a way that operations and supply processes are categorized?
A) Planning
B) Return
C) Delivery
D) Selecting
E) Making

Accepted Answer

Operations and supply chain processes can be conveniently categorized as planning,sourcing,making,delivering,and returning.

Question 9

One of the "package of features" that make up a service is:
A) Appearance
B) Facilitating goods
C) Packaging
D) Cost
E) Implied use

Accepted Answer

The package of features that make up a service is listed on page 9 of the text and includes facilitating goods.

Question 10

Which of the following are defined as core goods?
A) Chemicals
B) Airlines
C) Data storage systems
D) Hotels
E) None of the above

Accepted Answer

The answer of Which of the following are defined as...

Question 11

Current issues in OSCM do not include:
A) Coordinating relationships between organizations.
B) Making senior management aware that OSCM can be a competitive weapon.
C) The triple bottom line.
D) Managing customer touch points.
E) Increasing global supply chain employment.

Accepted Answer

The "current issues" in OSCM are:1.Coordinating the relationships between mutually supportive but separate organizations.2.Optimizing global supplier,production,and distribution networks.3.Managing customer touch points.4.Raising senior management awareness of OSCM as a significant competitive weapon.5.Sustainability and the triple bottom line.

Question 12

Value is the ratio of ___________________________.

Accepted Answer

The answer of Value is the ratio of ___________________________....

Question 13

Which of the following is not a characteristic that distinguishes services from goods?
A) Service jobs are unskilled.
B) A service is intangible.
C) Services are perishable
D) Services are heterogeneous
E) None of the above

Accepted Answer

Many service jobs are highly skilled such as physician,attorney,airline pilot,OSCM instructor,etc.The characteristics that distinguish goods from services are:1.Tangibility,2.Interaction with the customer,3.Services are heterogeneous,4.Services are perishable and time dependent,and,5.Services are seen as a package of features that affect the five senses.

Question 14

Which of the following are not listed in the text as jobs in OSCM?
A) Department store manager
B) Project manager
C) Hospital administrator
D) Data Center manager
E) Call center manager

Accepted Answer

Typical management and staff jobs in operations and supply chain management do not list Data Center manager.

Question 15

A pipeline through which material and information flows is a conception of a _______________________.

Accepted Answer

The answer of A pipeline through which material and information...

Question 16

What are four current issues in operations and supply management that are discussed in the textbook?
1.___________________
2.___________________
3.___________________
4.___________________

Accepted Answer

The answer of What are four current issues in operations...

Question 17

What are the five categories of supply chain processes?
1.___________________
2.___________________
3.___________________
4.___________________
5.___________________

Accepted Answer

The answer of What are the five categories of supply...

Question 18

The Goods-Services Continuum consists of which set of the following categories?
A) No goods,some goods,even mix,some service,no service
B) Pure goods,core goods,core services,pure services
C) No service,some service,good service,excellent service
D) Self-service,help desk service,face-to-face service,service-with-a-simle
E) None of the above

Accepted Answer

The Goods-Services Continuum consists of four categories: Pure goods (such as a can of soda), core goods (such as a car), core services (such as a hotel stay), and pure services (such as a haircut). These categories represent the range of offerings that exist between completely tangible goods and completely intangible services. Option A, C, and D do not accurately represent the categories of the Goods-Services Continuum.

Question 19

List five OSCM job titles.
1.___________________
2.___________________
3.___________________
4.___________________
5.___________________

Accepted Answer

The answer of List five OSCM job titles.
1.___________________
2.___________________
3.___________________
4.___________________
5.___________________...

Question 20

Which of the following is a measure of operations and supply management efficiency used by Wall Street?
A) Dividend payout ratio
B) Current ratio
C) Receivable turnover
D) Earnings per share growth
E) Financial leverage

Accepted Answer

Receivables turnover,the correct answer,is listed in exhibit 1.6 "Efficiency Measures Used by Wall Street."

Quiz 1: Operations and Supply Chain Management

Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.

What is a total systems approach to managing the flow of information,materials,and services from raw material suppliers through factories and warehouses to the end customer called? ________________________________

Processes that are used to transform resources into products are called ________________.

Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street?

The ability to maintain balance in a system is referred to as _______________.

One reason for studying operations and supply chain management (OSCM) is which of the following?

Doing something at the lowest possible cost is called: ________________.

Which of the following is not a way that operations and supply processes are categorized?

One of the "package of features" that make up a service is:

Which of the following are defined as core goods?

Current issues in OSCM do not include:

Value is the ratio of ___________________________.

Which of the following is not a characteristic that distinguishes services from goods?

Which of the following are not listed in the text as jobs in OSCM?

A pipeline through which material and information flows is a conception of a _______________________.

What are four current issues in operations and supply management that are discussed in the textbook? 1._________ 2._ 3._ 4._________

What are the five categories of supply chain processes? 1._________ 2._ 3._ 4._ 5.___________

The Goods-Services Continuum consists of which set of the following categories?

List five OSCM job titles. 1._________ 2._ 3._ 4._ 5.___________

Which of the following is a measure of operations and supply management efficiency used by Wall Street?

Quiz 1: Operations and Supply Chain Management

Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.

What is a total systems approach to managing the flow of information,materials,and services from raw material suppliers through factories and warehouses to the end customer called? ________________________________

Processes that are used to transform resources into products are called ________________.

Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street?

The ability to maintain balance in a system is referred to as _______________.

One reason for studying operations and supply chain management (OSCM) is which of the following?

Doing something at the lowest possible cost is called: ________________.

Which of the following is not a way that operations and supply processes are categorized?

One of the "package of features" that make up a service is:

Which of the following are defined as core goods?

Current issues in OSCM do not include:

Value is the ratio of ___________________________.

Which of the following is not a characteristic that distinguishes services from goods?

Which of the following are not listed in the text as jobs in OSCM?

A pipeline through which material and information flows is a conception of a _______________________.

What are four current issues in operations and supply management that are discussed in the textbook? 1.___________________ 2.___________________ 3.___________________ 4.___________________

What are the five categories of supply chain processes? 1.___________________ 2.___________________ 3.___________________ 4.___________________ 5.___________________

The Goods-Services Continuum consists of which set of the following categories?

List five OSCM job titles. 1.___________________ 2.___________________ 3.___________________ 4.___________________ 5.___________________

Which of the following is a measure of operations and supply management efficiency used by Wall Street?

What are four current issues in operations and supply management that are discussed in the textbook? 1._________ 2._ 3._ 4._________

What are the five categories of supply chain processes? 1._________ 2._ 3._ 4._ 5.___________

List five OSCM job titles. 1._________ 2._ 3._ 4._ 5.___________