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Test Bank Operations and Supply Chain Management The Core 4th Edition By F. Robert Jacobs

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Test Bank Operations and Supply Chain Management The Core 4th Edition By F. Robert Jacobs

Test Bank Operations and Supply Chain Management The Core 4th Edition By F. Robert Jacobs

 

  1. Efficiency means doing the right things to create the most value for the company.

 

FALSE

 

Efficiency means doing something at the lowest possible cost.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. Effectiveness means doing the right things to create the most value for the company.

 

TRUE

 

Effectiveness means doing the right things to create the most value for the company.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. 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

 

Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value. The doctor performed the surgery without error. Because the patient died, no value was created.

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Analyze

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. A worker can be efficient without being effective.

 

TRUE

 

Efficiency means doing something at the lowest possible cost. Effectiveness means doing the right things to create the most value. These are different things.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

 

 

 


  1. A process can be effective without being efficient.

 

TRUE

 

Often, maximizing effectiveness and efficiency at the same time creates conflict between the two goals. "Being efficient" at the customer service counter at a local store or bank means using the smallest number of clerks possible at the counter. Being effective, though, means minimizing the amount of time customers need to wait in line.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. 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

 

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.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

  1. The term "value" refers to the relationship between quality and the price paid by the consumer.

 

TRUE

 

Related to efficiency and effectiveness is the concept of value, which can be metaphorically defined as quality divided by price.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals.

 

TRUE

 

Often maximizing effectiveness and efficiency at the same time creates conflict between the two goals.

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Analyze

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value


9. Central to the concept of operations strategy are the concepts of operations focus and trade-offs.

 

TRUE

 

Central to their thinking was the notion of factory focus and manufacturing trade-offs. Because a factory cannot excel on all performance measures, its management must devise a focused strategy, (to perform) a limited set of tasks extremely well. This requires trade-offs.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

  1. OSCM is concerned with management of the trickiest parts of the system that produces a good or delivers a service.

 

FALSE

 

OSCM is concerned with the management of the entire system that produces a good or delivers a service.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

 

11. OSCM is a functional field of business with clear line management responsibilities.

 

TRUE

 

OSCM is a functional field of business with clear line management responsibilities.


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 


 

 

12. The supply network as can be thought of as a pipeline through which cash, material, and information flows.

 

FALSE

 

Think of the supply network as a pipeline through which material and information flows.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?


 

 

 

 

 

 

 

 

13. Supply networks cannot be constructed for every product or service.

 

FALSE

 

Networks such as this can be constructed for any product or service.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

  1. "Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products desired by customers.

 

TRUE

 

Operations refers to manufacturing, service, and health care processes that are used to transform the resources employed by a firm into products desired by customers.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

  1. "Supply Chain" refers to processes that move information and material to and from the manufacturing and service processes of the firm.

 

TRUE

 

Supply chain refers to processes that move information and material to and from the manufacturing and service processes of the firm.


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?


 

16. "Supply Chain" includes only inbound freight and inventory.

 

 

 

FALSE

 

Supply chain refers to processes that move information and material to and from the manufacturing and service processes of the firm.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 2 Medium

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management


 


 


 


 

  1. It is critical that a sustainable strategy meet the needs of shareholders and employees. It is also highly desirable that it preserves the environment.

 

FALSE

 

A sustainable strategy that meets the needs of shareholders and employees while preserving the environment is critical.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 2 Medium

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

 

18. Planning is where a firm must determine how anticipated demand will be met with available resources.

 

 

TRUE

 

Planning consists of the processes needed to operate an existing supply chain strategically. Here a firm must determine how anticipated demand will be met with available resources.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes

 

 

 

  1. 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.

FALSE

 

Operations and supply chain processes can be conveniently categorized…as planning, sourcing, making, delivering, and returning.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes

 

20. The supply chain processes mentioned in the textbook are: planning, sourcing, delivering, and returning.

 

FALSE

 

Operations and supply chain processes can be conveniently categorized…as planning, sourcing, making, delivering, and returning.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes


21. All managers should understand the basic principles that guide the design of transformation processes.

 

TRUE

 

All managers should understand the basic principles that guide the design of transformation processes.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

 

 

 

  1. Operations and supply management changes constantly because of the dynamic nature of competing in global business and the constant evolution of information technology.

 

TRUE

 

The field of operations and supply management is ever changing due to the dynamic nature of competing in global business and the constant evolution of information technology.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

23. Internet technology has made the sharing of reliable real-time information expensive.

 

FALSE

 

Internet technology has made the sharing of reliable real-time information inexpensive.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

  1. 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.

 

FALSE

 

Capturing information directly from the source through such systems as point-of -sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has shifted the focus to understanding both what all the information is saying and also how good are the decisions that can be made using it.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?


 

  1. 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.

 

FALSE

 

Capturing information directly from the source through such systems as point-of -sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has shifted the focus to understanding both what all the information is saying and also how good are the decisions that can be made using it.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

  1. Operations and supply chain processes can be conveniently categorized as planning, sourcing, making, and delivering.

 

FALSE

 

Operations and supply chain processes can be conveniently categorized as planning, sourcing, making, delivering, and returning.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes

 

27. A major aspect of planning involves developing a set of metrics to monitor the supply chain.

 

TRUE

 

A major aspect of planning is developing a set of metrics to monitor the supply chain so that it is efficient and delivers high quality and value to customers.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes

 

 

28. 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.

 

FALSE

 

Returning involves the processes for receiving worn-out, defective, and excess products back from customers and support for customers who have problems with delivered products.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes


  1. Delivering is not considered in supply chain analysis when outside carriers are contracted to move products to customers.

 

FALSE

 

Delivering is also referred to as logistics processes. Carriers are picked to move products to warehouses and customers, coordinate and schedule the movement of goods and information through the supply network, develop and operate a network of warehouses, and run the information systems that manage the receipt of orders from customers, and invoicing systems to collect payments from customers.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: Operations and Supply Chain Processes

 

30. Services are intangible processes that cannot be weighed or measured.

 

TRUE

 

There are five essential differences between services and goods. The first is that a service is an intangible process that cannot be weighed or measured, whereas a good is a tangible output of a process that has physical dimensions.


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Differences between Services and Good


 

 

31. Service innovations can be patented.

 

FALSE

 

A service innovation, unlike a product innovation, cannot be patented.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Differences between Services and Goods

 

32. Services are homogeneous.

 

FALSE

 

The third is that services are inherently heterogeneous

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Differences between Services and Goods


 

 

 

33. Services are defined and evaluated as a package of features that affect the five senses.

 

TRUE

 

The specifications of a service are defined and evaluated as a package of features that affect the five senses.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Differences between Services and Goods

 

34. Automobiles and appliances are classified as "pure goods."

 

FALSE

 

Automobiles and appliances are classified as "core goods."


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Differences between Services and Goods

 


35. Core service providers integrate tangible goods into their product.

 

TRUE

 

Core service providers must integrate tangible goods.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Differences between Services and Goods

 

 

  1. "Product-service bundling" refers to a company building service activities into its product offerings for its customers.

 

TRUE

 

Product-service bundling refers to a company building service activities into its product offerings for its customers.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Differences between Services and Goods


  1. In contrast to careers in finance and marketing, careers in OSCM involve hands-on involvement with people and processes.

 

TRUE

 

OSCM jobs are hands-on, working with people and figuring out the best way to do things.


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-03

Topic: Careers in Operations and Supply Chain Management

 

 


38. A bank branch manager position is not an OSCM-type of job.

 

FALSE

 

Listed as an OSCM job: Branch manager (bank). Oversees all aspects of financial transactions at a branch.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Careers in Operations and Supply Chain Management

 

39. A supply chain manager is an OSCM job while a purchasing manager is not.

 

FALSE

 

Both supply chain manager and purchasing manager are listed as typical management and staff jobs in operations and supply chain management.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-03

Topic: Careers in Operations and Supply Chain Management

 

 

40. Just in time (JIT) production was a major breakthrough in manufacturing philosophy pioneered by the Japanese.

 

TRUE

 

JIT was pioneered by the Japanese.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

 

 

 

 

 

 

 

 

 

 

 

41. Lean manufacturing refers to just in time production coupled with total quality control.  

 

TRUE

 

JIT, coupled with total quality control (TQC)—is now a cornerstone in many manufacturers' production practices, and the term lean manufacturing is used to refer to the set of concepts.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

  1. The Baldrige National Quality Award was started under the direction of the National Institute of Standards and Technology.

 

TRUE

 

Helping the quality movement along is the Baldrige National Quality Award, which was started in 1987 under the direction of the National Institute of Standards and Technology.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

  1. The approach that advocates making revolutionary changes as opposed to evolutionary changes is called creation theory.

 

FALSE

 

Business Process Reengineering seeks to make revolutionary changes as opposed to evolutionary changes.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

  1. The approach that advocates making revolutionary changes as opposed to evolutionary changes is called "business process reengineering."

 

TRUE

 

Business Process Reengineering seeks to make revolutionary changes as opposed to evolutionary changes.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management


 

 

 

  1. Business process reengineering, which seeks revolutionary change, is contrasted with total quality management which commonly advocates incremental change.

 

TRUE

 

Business Process Reengineering seeks to make revolutionary changes as opposed to evolutionary changes (which are commonly advocated in TQM).

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

46. The "triple bottom line" relates to the economic, employee, and environmental impact of a firm's strategy.

 

TRUE

 

Management must now consider the mandates related to the ongoing economic, employee, and environmental viability of the firm (the triple bottom line).


 

 

 

 

 

 

 

 


 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 


47. Sustainability is the ability to maintain profits in a system.

 

FALSE

 

Sustainability is the ability to maintain balance in a system.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

48. Raising senior management awareness of OSCM as a competitive weapon is not an important issue.

 

FALSE

 

Many senior executives entered the organization through finance, strategy, or marketing and built their reputations on work in these areas and, as a result, often take operations for granted. This can be a critical mistake.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management


49. Green and black belt programs teach six-sigma quality tools to managers at many corporations.

 

TRUE

 

Originally developed in the 1980s as part of total quality management, six-sigma quality in the 1990s saw a dramatic expansion as an extensive set of diagnostic tools was developed. These tools have been taught to managers as part of "Green and Black Belt Programs" at many corporations.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

50. 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

 

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.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

51. The term "electronic commerce" refers to the buying and selling of electronic products and devices.

 

FALSE

 

The term electronic commerce refers to the use of the internet as an essential element of business activity.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

52. The term "electronic commerce" refers to the use of the internet as an essential element of business activity.

 

TRUE

 

The term electronic commerce refers to the use of the internet as an essential element of business activity.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

 

 

 

 

 

 

 

 

 

 

 


53. "Business Analytics" involves the analysis of data through a unique combination of linear programming, game theory, and queuing theory to better solve business problems.

 

FALSE

 

Business analytics is the use of current business data to solve business problems using mathematical analysis.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

loom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

  1. The mathematical results of Business Analytics are used to automate decision making and eliminate the decision maker.

 

FALSE

 

These mathematical results can either be used to support the decision maker or to automate decision-making.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Difficulty: 1 Easy

Learning Objective: 01-04

Topic: Historical Development of Operations and Supply Chain Management

 

  1. Operations and supply chain strategy are not important issues to investors who tend to focus on growth, dividends, and earnings per share.

 

FALSE

 

Comparing firms from an operations view is important to investors since the relative cost of providing a good or service is essential to high earnings growth.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

  1. 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.

 

FALSE

 

Investors are most often interested in financial returns. Comparing firms from an operations and supply chain view is important to investors since the relative cost of providing a good or service is essential to high earnings growth. How well a firm manages its' workforce is of less interest to investors.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

 

 

 

 

 

  1. During a recession, efficient firms often have an opportunity to increase market share while maintaining profitability

 

TRUE

 

Highly efficient firms usually shine when demand drops during recession periods since they often can continue to make a profit due to their low- cost structure. These operations-savvy firms may even see a recession as an opportunity to gain market share as their less-efficient competitors struggle to remain in business.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

 

58. Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view.

 

FALSE

 

Comparing firms from an operations view is important to investors since the relative cost of providing a good or service is essential to high earnings growth.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

59. One reason for studying operations and supply chain management (OSCM) is which of the following?

 

  1. OSCM is essential for understanding organizational behavior

 

  1. 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.

 

  1. OSCM is a required course in all business degree programs

 

  1. OSCM is the most rigorous business discipline

 

All managers should understand the basic principles that guide the design of transformation processes.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-01

Topic: What is Operations and Supply Chain Management?

 

 

60. The Goods–Services Continuum consists of which set of the following categories?

 

A. No goods, some goods, even mix, some service, no service

B.Pure goods, core goods, core services, pure services

 

  1. No service, some service, good service, excellent service

 

  1. Self-service, help desk service, face-to-face service, service-with-a-smile

 

  1. None of these

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Apply

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Differences between Services and Goods

 

 

61. Which of the following are defined as core goods?

 

  1. Chemicals

 

  1. Airlines

 

C.Data storage systems

 

  1. Hotels

 

  1. None of these

 

Data storage systems is the correct answer.

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Apply

Difficulty: 2 Medium

Learning Objective: 01-02

Topic: Differences between Services and Goods

 

62. Current issues in OSCM do not include:

 

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

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

 

63. Which of the following are not listed in the text as jobs in OSCM?

 

  1. Department store manager

 

  1. Project manager

 

  1. Hospital administrator

 

D.Data Center manager

 

E. Call center manager

 

Typical management and staff jobs in operations and supply chain management do not list Data Center manager.

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Apply

Difficulty: 2 Medium

Learning Objective: 01-03

Topic: Careers in Operations and Supply Chain Management

 

64. 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

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Apply

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Differences between Services and Goods

 

 

 

 

65. Which of the following is not a way that operations and supply processes are categorized?

 

  1. Planning

 

  1. Returning

 

  1. Delivering

 

  1. Selecting

 

  1. Making

 

Operations and supply chain processes can be conveniently categorized as planning, sourcing, making, delivering, and returning.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Operations and Supply Chain Processes

 

66. One of the "package of features" that make up a service is:

 

A. Appearance

 

B.Facilitating goods

 

  1. Packaging

 

  1. Cost

 

  1. Implied use

 

The package of features that make up a service is listed on page 9 of the text and includes facilitating goods.

 

AACSB: Analytic

Accessibility: Keyboard Navigation

Bloom's: Apply

Difficulty: 2 Medium

Learning Objective: 01-04

Topic: Differences between Services and Goods

 

 

  1. Which of the following is not a measure of operations and supply chain management efficiency used by Wall Street?

 

  1. Inventory turnover

 

  1. Revenue per employee

 

  1. Receivable turnover

 

  1. Earnings per share

 

  1. Asset turnover

 

Earnings per Share is not a measure of operations and supply chain efficiency.

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-02

Topic: Efficiency, Effectiveness, and Value

 

 

 

 

 

 

 

 

68. Which of the following is a measure of operations and supply management efficiency used by Wall Street?

 

  1. Dividend payout ratio

 

  1. Current ratio

 

  1. Receivable turnover

 

D.Earnings per share growth

 

E. Financial leverage

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Bloom's: Understand

Difficulty: 1 Easy

Difficulty: 2 Medium

Learning Objective: 01-01

Learning Objective: 01-02

Learning Objective: 01-04

Topic: Efficiency, Effectiveness, and Value

Topic: Historical Development of Operations and Supply Chain Management

 

69. Managing customer touch points becomes a concern under current issues in OCSM when:

 

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


 

 

 

 

 

 

 

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 2 Medium

Learning Objective: 01-01

Topic: Historical Development of Operations and Supply Chain Management


 

70. What kind of product is defined by a set of intangible features?

 

A. An evening gown or a tuxedo

B.A championship football game

C.A service

D.A sports car

E.All of the above

 

AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Remember

Difficulty: 1 Easy

Learning Objective: 01-04

 

71. 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

 

                                                                                                                                                                                                                                   AACSB: Reflective Thinking

Accessibility: Keyboard Navigation

Bloom's: Understand

Learning Objective: 01-01