Exam 1: Introduction to Operations and Supply Chain Management

________ is an operations activity with the purpose of designing and implementing the transformation processes that best meet the needs of the customer and firm.

The ________ function of an organization manages the movement of physical goods throughout the supply chain.

What is the meaning of agility to the operations and supply chain function?

The ________ model is used to define the processes, metrics and relationships in supply chain management.

Offer definitions of the operations function and the supply chain. What is the relationship between operations and supply chain?

To participate in a supply chain, a firm must actually handle the physical goods at some point.

Which of these operations and supply chain activities involves the greatest number of interfunctional participants?

________ is an example of an output of the transformation process.

What are three reasons that the study of operations and supply chain management is important?

E-commerce is the component of a supply chain that is the most susceptible to breakdown.

A supply chain is composed of two or more operations functions.

The purchasing activity identifies and qualifies suppliers of goods and services and manages the ongoing buyer-supplier relationships.

A(n)________ is a network of manufacturers and service providers that collaborate to create a product or service.

What is the most impactful trend in supply chain management over the last quarter century? Justify your choice.

Electronic commerce refers to the use of information technology solutions to automate business transactions.

A(n)________-tier supplier for Acme sells directly to them.

________ is the ability to recalculate plans in the face of market, demand, and supply volatility and deliver the same or comparable cost, quality and customer service.

The professional society for persons interested in operations and supply chain management is called APICS.

Most organizations function as part of a larger supply chain.

Briefly discuss the three important trends in business that have focused attention on operations and supply chain management.