Exam 9: Value Chain Management: Functional Strategies for Competitive Advantage

_____ is a strategy based on the use of IT to reduce the costs associated with the product assembly process or the way services are delivered to customers.

Using the Internet to manage the value chain reduces the costs of coordination both between the company and its customers and between the company and its suppliers.

The development of new, often radically different kinds of goods and services is called _____.

Which of the following is essential for a good value chain management?

The goods and products manufactured using fundamental shifts in technology as a result of pioneering discoveries are termed:

Which of the following should an organization do in order to obtain a competitive advantage through superior efficiency?

The _____ function plays a crucial role in an organization's value chain by locating customers and then informing and persuading them to buy the company's products.

List and briefly explain the three basic facilities layout or ways of arranging workstations with an example of the type of products produced by each type.

A written agreement that details factors such as responsibilities, resource commitments, budgets, time lines, and development milestones is referred to as a _____.

Great cost savings can result from _____ inventory turnover and _____ inventory holding costs, such as warehousing and storage costs.

In a process layout, each workstation is self-contained, and a product goes to whichever workstation is needed to perform the next operation to complete the product.

Quality is a concept that can be applied to manufacturing but not to service organizations.