Value Chain Management

Value Chain Management

  1. Preproduction services of a value chain include warranty and claim services.

T or F

  1. Predictive analytics is used by organizations to:
  1. Envisage the future by detecting patterns and relationships in data.
  2. Identify the best decisions for a particular situation.
  3. Understand past and current performance.
  4. Analyze business policies through visual representations.
  5. Which of the following statements is true of a value chain?
  1. A value chain is narrower in scope than a supply chain.
  2. A value chain solely focuses on the operations function of an organization.
  3. The pre- and postservices framework of a value chain emphasizes that services is a critical component of traditional manufacturing processes.
  4. The input-output framework of a value chain suggests that the value chain begins with inputs from customers.
  5. A gracious welcome by an employ at the hotel check-in counter is an example of:
  1. A moment of truth.
  2. Social sustainability.
  3. A service blueprint
  4. A Predictive analytics
  5. ______ is defined as the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them.
  1. Equity
  2. Revenue
  3. Turnover
  4. Value
  5. In the context of the pre-and production services perspective of a value chain, which of the following statements is true of preproduction services?
  1. They include recycling and remanufacturing initiatives.
  2. They focus on gaining a customer
  3. They focus solely on keeping an existing customer.
  4. They include on-site installation and application services.
  5. Building a high-performing organization with a capable leadership and workforce is an example of_______.
  1. Environmental sustainability
  2. Political sustainability
  3. Technological sustainability
  4. Economic sustainability
  5. When business analytics is used to understand past and current performance it is called_____.
  1. Predictive analytics
  2. Prescriptive analytics
  3. Decision analytics
  4. Descripitive analytics
  5. Vehicles, furniture, and dishwashers are examples of nondurable goods.

T OR F

  1. Service encounter design is a key activity performed by operations managers that involves:
  • Determining how to recover from service upsets.
  • Managing the flow of materials, information, people and money from suppliers to customers.
  • Ensuring that the right amount of resources is available when needed.
  • Predicting the future demand for raw materials, finished goods and services.
  1. ______is the act of quantifying the performance of organizational units, goods and services, processes, people, and other business articles.
  • Forecasting
  • Litigating
  • Fulfillment
  • Measurement
  1. Actionable performance measures should be meaningful to a company’s management and should provide the basis for decisions at the strategic level in an organization.
  • T OR F
  1. In the context of the value chain model, when information replaces assets, the costs increase.
  • T of F
  1. In an assembly line of a factory that makes gears, it takes fifteen minutes to complete a drilling operation using a lathe. The duration of this operation is called________.
  • Queue time
  • Standard time
  • Delay time
  • Processing time
  1. The table below shows the data for the number of pair of shoes produced and the cost incurred by fancy trends Inc. for the year 2019?

Pair of shoes produced in 2019: 160,000 cost Incurred

Direct Labor Cost $60.00

Energy Cost $5,800

Raw material cost $ 42,000

Based on the given data, the productivity of fancy trends Inc. for the year 2019 is ___pairs per dollar (2 decimal points ).

  1. The ability of an organization to respond quickly to changes in the quantity and type of demand is called_____.
  1. Demand variability
  2. Utility
  3. Reliability
  4. Volume flexibility
  5. In the context of the analytics in operations management, it costs three to five times more to keep an existing than acquire a new customer.

T or F

  1. According to research, which of the following is a key dimension that customers use to asses service quality?
  1. Queue time
  2. Operational efficiency
  3. Empathy
  4. Flexibility
  5. In the context of the triple bottom line(TBL), which of the following measures includes the number of ethical violations?
  1. Customer retention rate
  2. Responsiveness
  3. Service quality
  4. Social sustainability
  5. The ______________is based on a set of cause and effect linkages between internal and external performance and in this fashion, defines the key performance measurements on which service- based firms should focus.
  1. Value chain model
  2. Malcolm Baldridge Performance excellence program
  3. Service-profit chain model
  4. Balanced scorecard
  5. _________are those that a customer can determine prior to purchasing goods or services.
  1. Experience attributes
  2. Search attributes
  3. Variant attributes
  4. Credence attributes
  5. Which of the following is considered an order winner in an automobile?
  1. A driver- side airbag that most high-end automobile have.
  2. A driver- assist system unique to this make/model.
  3. A comfortable seating arrangement that is similar to other automobiles.
  4. A three-month subscription to satellite radio.
  5. Goods and services features and performance characteristics that differentiate one customer benefit package from another and win the customers business are called____.
  1. Order qualifers
  2. Experience attributes
  3. Order winners
  4. Credence attributes
  5. Which of the following is one of the key areas that is addressed by operations design choices?
  1. Value chain integration and outsourcing
  2. Functional plans and control systems
  3. Quality control and mass customization
  4. Learning an innovation systems
  5. Which of the following companies is most likely to have a true understanding of customer wants and needs?
  1. Scoria automobiles, where customers is mostly to have a true understanding of customer wants and needs?
  2. Magnira jewelry, where all customers are provided with low quality products at prices slightly lower than the standard prices.
  3. Blyrie apparels, where customer benefit packages include more order qualifiers than order winners.
  4. Harlose suits, where customers are segmented into groups based on buying behavior and demographics
  5. According to professor Terry Hill’s generic strategy framework which of the following statements is true of the first loop?
  1. It represents operations input into the corporate and marketing strategy.
  2. It determines if process choice decisions are consistent with infrastructure decisions.
  3. It ties together an organizations corporation strategy and marketing starategy
  4. It describes how operations evaluate the implications of competitive priorities in terms of process choice.
  5. Applying professor terry hills generic strategy framework to McDonalds, the operating design choices or resource scheduling, inventory placements and control, and standardized operational and job procedures best relate to the corporate objective of _____.
  1. Operational diversity
  2. Operational sustainability
  3. Profitable growth
  4. Operational excellence
  5. Sustainability is best described as a (n)_________.
  1. Organizational strategy
  2. Competitive priority
  3. Pattern that integrates an organization major goals
  4. Idea that differs from existing norms
  5. Which of the following statements is true of equity as a key competitive priority?
  • It is usually improved by businesses to increase short-run profitability
  • It suffers increasingly as supply chains become more complex
  • It is negatively related to a higher return on investment for almost all kinds of market situations.
  • It was an order winner for organizations that adopted and has gradually become an order qualifier
  1. For firms that adopt innovation as a core component of their strategy, price, not product performance, is the major selling feature.

T or F

Leave a Reply

Your email address will not be published.