(Test Bank) Operations and Supply Chain Management

Jacobs, 6

Business

Test Bank

6th Edition

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Test Bank for Operations and Supply Chain Management, The downloadable file consists of 321 pages, and the total size of the file is 1.94 MB. Purchase now only for highly discounted price.

Author(s): Jacobs

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Study Note Preview

Version 1 1 CHAPTER 01 – 6e 1) Which of the following is a reason for studying operations and supply chain management (OSCM)? 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. 2) Which of the following sets of categories the Goods-Services Continnuum consists of? 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-smile. E) None of these. 3) Which of the following are defined as core goods? A) Chemicals. B) Airlines. C) Data storage systems. D) Hotels. E) None of these. 4) Current issues in OSCM do not include _____________blank. Version 1 2 A) coordinating relationships between organizations B) making senior management aware that OSCM can be a competitive weapon C) managing customer touch points D) increasing global supply chain employment 5) 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. 6) 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 these. 7) Which of the following is not a way that operations and supply processes are categorized? A) Planning. B) Returning. C) Delivering. D) Selecting. E) Making. Version 1 3 8) One of the "package of features" that makes up a service is _____________blank. A) appearance. B) facilitating goods. C) packaging. D) cost. E) implied use. 9) Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street? A) Inventory turnover. B) Days inventory. C) Receivable turnover. D) Earnings per share. E) Asset turnover. 10) 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) Receivables turnover. D) Earnings per share growth. E) Financial leverage. 11) Managing customer touch points becomes a concern under current issues in OCSM when _____________blank. Version 1 4 A) complaints arise about shaking hands with customers in cultures that is frowned upon B) firms striving to become superefficient begin to scrimp on staffing and training customer support personnel C) a firm has a workforce trained in specifically diverse situations and the correct level of service may be hard to discern D) firms market global products E) senior executives fail to recognize the contribution OCSM can make to their success 12) When considering the concept of value, how is quality defined? A) By the price of the product. B) By the producer’s reputation in the industry. C) By the weight of the product. D) By the attractiveness of the product, considering its features and durability. E) By the product’s uniqueness relative to other similar products. 13) All other things remaining the same, if the revenue or sales decreases, asset turnover ratio will _____. A) decrease B) increase C) stay the same D) will decrease, but the amount of change will depend on the profit margin E) decrease and will decrease, but the amount of change will depend on the profit margin Version 1 5 14) Which of the following is the most appropriate regarding inventory turnover? A. Inventory turnover increases as average inventory decreases, while other things remain the same. B. Inventory turnover is an efficiency measure. C. Inventory turnover is unaffected by changes in annual sales. A) Choice A B) Choice B C) Choice C D) Choices A and B only E) Choices A, B and C will hold 15) Identify the most appropriate answer regarding cash conversion cycle. A. Is also known as cash-to-cash cycle. B. Cash conversion cycle goes down if payable period goes up. C. Cash conversion cycle goes up if average inventory goes up. A) Choice A B) Choice B C) Choice C D) Choices A and B are correct E) Choices A, B and C are all correct 16) Efficiency means doing the right things to create the most value for the company. ⊚ true ⊚ false Version 1 6 17) Effectiveness means doing the right things to create the most value for the company. ⊚ true ⊚ false 18) A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, we could refer to this doctor as being efficient but not effective. ⊚ true ⊚ false 19) A worker can be efficient without being effective. ⊚ true ⊚ false 20) A process can be effective without being efficient. ⊚ true ⊚ false 21) Operations and supply chain management is defined as the design, operation, and improvement of the systems that create and deliver the firm's primary products and services. ⊚ true ⊚ false 22) The term "value" refers to the relationship between quality and the price paid by the consumer. ⊚ true ⊚ false Version 1 7 23) Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals. ⊚ true ⊚ false 24) Central to the concept of operations strategy are the concepts of operations focus and trade-offs. ⊚ true ⊚ false 25) OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service. ⊚ true ⊚ false 26) OSCM is a functional field of business with clear line management responsibilities. ⊚ true ⊚ false 27) The supply network can be thought of as a pipeline through which cash, material, and information flow. ⊚ true ⊚ false 28) Supply networks cannot be constructed for every product or service. ⊚ true ⊚ false Version 1 8 29) "Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products desired by customers. ⊚ true ⊚ false 30) "Supply Chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm. ⊚ true ⊚ false 31) "Supply Chain" includes only inbound freight and inventory. ⊚ true ⊚ false 32) It is critical that a sustainable strategy meet the needs of shareholders and employees. It is also highly desirable that it preserves the environment. ⊚ true ⊚ false 33) Planning is where a firm must determine how anticipated demand will be met with available resources. ⊚ true ⊚ false 34) Although planning involves determining how the various supply chain processes (sourcing, making, delivering, and returning) will be met, planning itself is not considered a supply chain process. ⊚ true ⊚ false Version 1 9 35) The supply chain processes mentioned in the textbook are: planning, sourcing, delivering, and returning only. ⊚ true ⊚ false 36) All managers should understand the basic principles that guide the design of transformation processes. ⊚ true ⊚ false 37) Operations and supply management changes constantly because of the dynamic nature of competing in global business and the constant evolution of information technology. ⊚ true ⊚ false 38) Internet technology has made the sharing of reliable real-time information expensive. ⊚ true ⊚ false 39) Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had little impact on Operations and Supply Chain Management. ⊚ true ⊚ false Version 1 10 40) Use of systems like point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has made it more difficult to understand what all the information is saying. ⊚ true ⊚ false 41) Operations and supply chain processes can be conveniently categorized as planning, sourcing, making, and delivering only. ⊚ true ⊚ false 42) A major aspect of planning involves developing a set of metrics to monitor the supply chain. ⊚ true ⊚ false 43) Returning involves processes for receiving worn-out, defective, and excess products back from customers but does not involve support for customers who have problems with the product. ⊚ true ⊚ false 44) Delivering is not considered in supply chain analysis when outside carriers are contracted to move products to customers. ⊚ true ⊚ false 45) Services are intangible processes that cannot be weighed or measured. ⊚ true ⊚ false Version 1 11 46) Service innovations can be patented. ⊚ true ⊚ false 47) Services are homogeneous. ⊚ true ⊚ false 48) Services are defined and evaluated as a package of features that affect the five senses. ⊚ true ⊚ false 49) Automobiles and appliances are classified as "pure goods." ⊚ true ⊚ false 50) Core service providers integrate tangible goods into their product. ⊚ true ⊚ false 51) "Product-service bundling" refers to a company building service activities into its product offerings for its customers. ⊚ true ⊚ false Version 1 12 52) In contrast to careers in finance and marketing, careers in OSCM include hands-on involvement with people and processes. ⊚ true ⊚ false 53) A bank branch manager position is not an OSCM job. ⊚ true ⊚ false 54) A supply chain manager is an OSCM job while a purchasing manager is not. ⊚ true ⊚ false 55) Just-in-time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese. ⊚ true ⊚ false 56) Lean manufacturing refers to just-in-time production coupled with total quality control. ⊚ true ⊚ false 57) The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology. ⊚ true ⊚ false Version 1 13 58) The approach that advocates making revolutionary changes as opposed to evolutionary changes is called creation theory. ⊚ true ⊚ false 59) The approach that advocates making revolutionary changes as opposed to evolutionary changes is called "Business Process Reengineering." ⊚ true ⊚ false 60) Business Process Reengineering, which seeks revolutionary change, is contrasted with total quality management which commonly advocates incremental change. ⊚ true ⊚ false 61) The "triple bottom line" relates to the economic, employee, and environmental impact of a firm's strategy. ⊚ true ⊚ false 62) Sustainability is the ability to maintain profits in a system. ⊚ true ⊚ false 63) Raising senior management awareness of OSCM as a competitive weapon is not an important issue. ⊚ true ⊚ false Version 1 14 64) Green and Black Belt Programs teach Six-Sigma quality tools to managers at many corporations. ⊚ true ⊚ false 65) The central idea of supply chain management is to apply a total system approach to managing the flow of information, materials, and services from raw material suppliers through factories and warehouses to the end customer. ⊚ true ⊚ false 66) The term "electronic commerce" refers to the buying and selling of electronic products and devices. ⊚ true ⊚ false 67) The term "electronic commerce" refers to the use of the Internet as an essential element of business activity. ⊚ true ⊚ false 68) "Business Analytics" involves the analysis of data through a unique combination of linear programming, game theory, and queuing theory to better solve business problems. ⊚ true ⊚ false Version 1 15 69) The mathematical results of Business Analytics are used to automate decision making and eliminate the decision maker. ⊚ true ⊚ false 70) Operations and supply chain strategy are not important issues to investors who tend to focus on growth, dividends, and earnings per share. ⊚ true ⊚ false 71) Investors pay close attention to efficiency and productivity measures like net income per employee because they are interested in how well the firm manages its workforce relations. ⊚ true ⊚ false 72) During a recession, efficient firms often have an opportunity to increase market share while maintaining profitability. ⊚ true ⊚ false 73) Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view. ⊚ true ⊚ false