Quiz 2: Supply Chain and Operations Strategy

Which of the following is not one of the strategies in Porter's Generic Strategies model? A)Cost B)Differentiation C)Focus D)Speed

According to Fisher's strategy model,supply chains for function products should focus on being A)efficient. B)responsive. C)local. D)global.

According to Fisher's strategy model,supply chains for innovative products should focus on being A)efficient. B)responsive. C)local. D)global.

According to Fisher's strategy model,supply chains for custom-built,made-to-order windows should focus on being A)efficient. B)responsive. C)local. D)global.

The ability of a supply chain to quickly respond to short-term changes in demand or supply is called A)agility. B)adaptability. C)lean. D)alignment.

The capability to adjust a supply chain's design to meet major structural shifts in the market is called A)agility. B)adaptability. C)lean. D)alignment.

Zara,a Spanish fashion retailer,is able to have their supply chain design,create,and deliver product in 15 days as compared to a couple of months for their competitors.This gives them the ability to quickly respond to short-term changes in demand and is called A)adaptability. B)lean. C)agility. D)alignment.

In the context of firm and SC&O strategy,necessary attributes that allow a firm to enter into and compete in a market are called A)order winners. B)order qualifiers. C)agility. D)alignment.

Operations strategy focuses on allocating resources within the firm to provide value to customers.

Focus strategy,which is part of Porter's generic strategies,focuses on reducing cost.

Differentiation strategy,which is part of Porter's generic strategies,emphasizes select customers or markets.

In Fisher's strategy model,functional products require efficient supply chains.

In Fisher's strategy model,innovative products are matched with efficient supply chains.

Agility is the capability to adjust a supply chain's design to meet major structural shifts in the market.

Supply chain adaptability is important to capturing the value of long-terms changes in the competitive market landscape.

Order winners are minimal necessary attributes that allow a firm to enter into and compete in a market.

According to Fisher's strategy model,supply chains for functional products should focus on being ________.

According to Fisher's strategy model,supply chains for innovative products should focus on being ________.

According to Fisher's strategy model,supply chains for standardized kitchen appliances should focus on being ________.

The ability of a supply chain to quickly respond to short-term changes in demand or supply is called ________.

The capability to adjust a supply chain's design to meet major structural shifts in the market is called ________.

Recognizing that their product is moving from being an innovative,disruptive product to a more mature product,the firm shifts their supply chain focus to efficiency.This capability of the firm is called ________.

In the context of firm and SC&O strategy,attributes that differentiate a company's product from those of its competitors are called ________.

In the context of firm and SC&O strategy,necessary attributes that allow a firm to enter into and compete in a market are called ________.

Discuss Michael Porter's generic strategies and how they apply to the way firms compete in a market.

Discuss Fisher's strategy model and how it can be used to achieve alignment between a firm's generic strategy and SC&O strategy.

Which of the following are key requirements for a successful strategic plan? A)Resources similar to your competitor B)Dynamic capabilities C)Fit with the current environment D)All of the above E)Only B and C above

The network of people that helps create value for a firm's customers is part of the firm's A)capabilities. B)competencies. C)opportunities. D)None of the above

The absence of unique resources necessary to compete in its competitive landscape is one of the reasons for an unsuccessful strategic plan.

The correct hierarchy for strategic planning is to develop company strategy first,followed by development of the mission and vision and then the operational subplans.

Catchball is the strategic back-and-forth dialogue process to develop an error-free sales forecast.

Abilities that companies compete on that are difficult for competitors to replicate are known as capabilities.

Resources that are rare help a firm to sustain competitive advantage.

The Japanese term for "a compass," which indicates a vision or purpose to all existence is ________.

The Japanese term for management control or policy deployment is ________.

The planning tool commonly used by Japanese managers for policy deployment through a strategic planning process that utilizes project-based improvement is known as ________.

The strategic back-and-forth dialogue between successive levels of managers and their teams is called ________.

The network of people,knowledge,information systems,tools,and business processes that create value for customers is ________.

Abilities that companies compete on that are difficult for competitors to replicate are known as ________.

Discuss the supply chain and operations strategic hierarchy.What is the role of capabilities and competencies in this process?

Which type of supply chain relationship typically involves development of relational capabilities? A)Transactional B)Complementary C)Synergistic D)None of the above

Which type of supply chain relationship has a tendency to keep both the buyer and supplier at arm's length? A)Transactional B)Complementary C)Synergistic D)None of the above

Which type of supply chain relationship leverages another firm's competencies to maintain world class service? A)Transactional B)Complementary C)Synergistic D)None of the above

The relationship between Apple and its contract manufacturer Foxconn can be described as a A)transactional relationship. B)complementary relationship. C)synergistic relationship. D)None of the above

The relationship between a buyer and its supplier chosen solely on the basis that the supplier had the lowest bid can be described as a A)transactional relationship. B)complementary relationship. C)synergistic relationship. D)None of the above

Complementary relationships in a supply chain typically involve development of relational capabilities.

Transactional relationships in a supply chain have a tendency to keep both the buyer and supplier at arm's length.

An arm's length relationship with supply chain partners that is managed by scripted interactions is known as a ________.

A relationship that occurs when companies understand that their core competencies need another firm's competencies in order to compete is known as a ________.

A relationship between two companies who are committed to work together in a way that the result is greater than the sum of the individual parts is known as a ________.

Describe the types of relationships in a supply chain and how they drive value for the focus firm in a supply chain.

In terms of a firm's strategy execution hierarchy,which is in correct order? A)Tactics-strategy-operations B)Operations-tactics-strategy C)Strategy-tactics-operations D)Strategy-operations-tactics

Goals that help a firm "win a battle,but not necessarily win the war" are known as A)operational subplans. B)organizational strategy. C)vision. D)tactics.

Goals for improving product quality are part of the A)tactics. B)operational subplans. C)organizational strategy. D)vision.

A logistician creating logistics systems to reduce the complexity faced by the firm's customers is a A)low-cost strategy. B)differentiation strategy. C)niche strategy. D)process strategy.

A manufacturer creating the capability for quick changes in products,product mixes,and/or production volume is a A)low-cost strategy. B)differentiation strategy. C)niche strategy. D)process strategy.

Which process in the SCOR model includes activities related to procuring goods and services to meet planned and actual demand? A)Plan B)Source C)Make D)Deliver

Which process in the SCOR model balances aggregate demand and supply to develop the best course of action for other processes/activities within the organization's supply chain? A)Plan B)Source C)Make D)Deliver

Short term steps used to achieve strategic goals are known as tactics.

Short term steps used to achieve strategic goals are known as ________.

Parts per million defects is an example of A)strategic metric. B)financial metric. C)relationship metric. D)operational metric.

Corporate responsibility and sustainability are examples of A)strategic metric. B)financial metric. C)relationship metric. D)operational metric.

Total cost of ownership is an example of A)strategic metric. B)financial metric. C)relationship metric. D)operational metric.

Total cost of ownership is an example of operational metric.

Focusing on the entire acquisition process to develop strategic advantage rather than just to ensure production has sufficient inventories is called ________.

The key understanding to unlocking the strategic advantage of data analytics is A)that all management is decision making. B)the ability to effectively manipulate and understand data. C)to make evidence-based decisions using the data. D)All of the above E)Only A and B above

The movement of product upstream in the supply chain is called A)reverse logistics. B)forward logistics. C)collaborative logistics. D)supplier logistics.

Sustainability within the SC&O context is A)reducing the impact on the environment. B)operating today in a way that does not threaten the future. C)working collaboratively with suppliers to reduce package sizes. D)All of the above

One major reason for the rise of the field of data analytics is that the cost of data storage has dramatically decreased.

The ability to operate today in a way that does not threaten the future is known as ________.

Using value analysis to identify total costs from a supply chain-environmental perspective is known as ________.