Exam 13: Performance Measurement

Fill in the Blank(s) -The percent of products delivered on time is an important measure in sourcing, operations, and___________ .

Fill in the Blank(s) -A measurement of inventory, "days of supply" refers to the ratio of forecast ___________or sales to inventory available.

To be useful, productivity measurement requires a comparison with past performance, competitor performance, or industry standards.

Fill in the Blank(s) -Measurement performs three vital roles: It creates _________, shapes behavior, and leads to operational performance and results.

Fill in the Blank(s) -The cost of goods sold during a time period divided by the average inventory valued cost during the time period is equal to ___________.

The "lean" ideal regarding inventory is to have just enough inventory to keep operations running smoothly and meet customer needs.

Managers cannot effectively control processes that they do not understand.

Benchmarking, the formal process of comparing the positive attributes of one organization to those of another, is a critical component of a company's performance assessment arsenal.

Fill in the Blank(s) -_______incorporate financial and key qualitative measures to communicate expectations, evaluate performance, and motivate improvement.

The role of measurement in a business creates understanding, drives behavior, and it leads to results.

Fill in the Blank(s) -__________costing is a critical step in managing world-class processes.

One of the easiest challenges encountered in benchmarking is to identify the right company to use as the benchmark.

Just-in-time or lean management substitutes information for inventory throughout the supply chain, requiring accurate information on a real-time basis.

Non-competitive (or non-restricted) benchmarking entails looking to companies in ________ industries for examples of best practice.

Traditional customer service measurement which has relied on internally generated statistics regarding such measurements as fill rates, on-time delivery, and response time to inquiries does not provide a clear understanding of customer ________.

A key performance measure for a company's "Sourcing" function is ________.

The key to maximizing throughput is to alleviate the bottleneck, keeping it operating at maximum capacity all the time.

Supply management professionals increasingly measure the percent of certified suppliers and the percent of orders (or dollars spent) from certified suppliers.

________ is the formal process of comparing the attributes of one organization to those of another and is a critical component of a company's performance assessment arsenal.

There are five performance areas that are regarded as essential to accomplishing customer service and profitability goals. They are cost, customer service, proactive ness, and quality.