fall 11_study guide for exam 1-1

fall 11_study guide for exam 1-1 - BusM 361 Fall 2011...

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BusM 361, Fall 2011 Sections 1 & 2 (Wallin): Study Guide for Exam #1 This exam is worth 80 points. There are 40 multiple choice questions worth 2 points each. The exam is closed book. You may take a non-programmable calculator into the exam. You may also write on the exam. The exam will cover the following topics: Chapters 1 &2 SCM strategy, competitive dimensions SCM strategy? Operation and supply strategy is the notion of operations focus and trade- offs SCM : apply total system approach to managing the flow of information, materials, and services from raw materials suppliers through factories and warehouse to the end of customer. Recent trend: outsourcing, and mass customization Core activities: optimize core activities to maximize the speed of response to changes in customer expectations. Competitive dimensions: - Cost/prices: this dimension requires the firm to be the low-cost producer. Downside: doesn’t guarantee profitability and success because products produced in this way are basically commodity-like. The competition is fierce. Against the quality. - Quality: make great products and services. 2 characteristics of quality. + Design quality: Relative directly to the design of the product or service + process: relates to the reliability of the products/services - Delivery speed: against the flexibility. Delivery speed, reliability is important - Flexibility refers to ability of company to offer a wide variety of products to its customers. Trade-offs (e.g., efficiency vs. effectiveness, cost vs. quality) Trade-offs : A company can’t satisfy all the competitive dimensions. Managers have to decide which parameters of performance are critical to the firm’s success and then concentrate the resources of the firm on these particular characteristics.
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