MIS 302F Final Study Guide Part 4
MIS 302F Final Study Guide Quiz
Test your knowledge and understanding of key concepts in supply chain management and enterprise resource planning with this comprehensive quiz. Designed for students and professionals alike, this quiz features 50 questions covering various aspects of MIS 302F topics.
- Multiple choice and checkbox questions
- Instant feedback on your answers
- Track your progress and understanding
Customized ERP software should be used when you have a complex and unique value chain.
True
False
Business processes are which of these?
The tasks that employees must complete each day
A defined procedure given to vendors of a firm
The organizational partners that establish the objectives of the firm
Sets of activities coordinated across entities according to rules and procedures
The supply chain system that is builttostock (BTS), where a firm forecasts demand, produces according to a schedule, and places the customer at the end of the chain, is called which of these?
Pull system
Push system
Thrust system
Throw system
This term is used to describe how information is distorted from one end of a supply chain to the other end.
Bullwhip Effect
Push Supply Chain
Pull Supply Chain
Fallen Supply Chain
______________ is the reorganization of products, services, parts, or an entire company to minimize complexity of operations and enhance efficiencies. Duplication or redundancies are minimized, and this process lowers inventory levels, improves scheduling, and increases buying power through economies of scale, and hence profits.
Rationalization
Consolidation
Reengineering
Bullwhip effect
One of the main objectives of supply chain management is which of these?
Decrease the cash conversion cycle, and lower returns on invested capital
Decrease market through better service, fulfillment, and quality
Improve financial performance and shareholder value
Improve customer selection processes for competitor advantage
One of the quickest methods used to measure supply chain efficiency is which of these?
The cash conversion cycle (CCC)
The product life cycle
Vendor managed inventory
Supplier measurement cycle
The product life cycle includes all of these phases except which of these?
Declining phase
Mature phase
Growth phase
Slow motion phase
Which of these is a primary reason that makes supply chain management so challenging?
Determining prices for products
Hiring the top talent
Managing uncertainty
Minimizing the constant change of technology
To counter the bullwhip effect a firm may choose to do which of these?
Replace all current vendors with new vendors
Speed up the production process when demand increases
Share information to lower uncertainty
Lower inventory supplies to drive up demand
_____________ is the coordination and integration of all activities and flows (material, information, and financial) in the value system that includes suppliers and customers to maximize firm benefits.
Supply chain management
Customer relationship management
Value proposition analysis
A vendor managed system
The supply chain system where the customer is at the beginning of the chain and initiates production and is built-on-demand (BTD) or built-on-order (BTO) is called which of these?
Pull system
Push system
Thrust system
Throw system
Vendor Managed Inventory (VMI) is best described as which of these?
Vendors provide timely feedback to companies so these companies can better determine what inventory is needed
Vendors monitor usage, inventory, and restocking of inventory at the customer's premise
Vendors sell all inventory at the vendor's site, not the company's site
Vendors relinquish control of inventory production to a third party
Which of these is NOT a primary objective of supply chain management?
Increase agility for demand and product portfolio changes (e.g., lower time to market)
Instill a culture of continuous, operational excellence
Improve margin by lowering costs, improving information sharing, and improving operations
Decrease the power of buyers and give this power to sellers
ERP software is designed to disconnect the parts of the value chain so a company can slow the flow of information across the parts of a company.
True
False
Business Process Reengineering (BPR) is best defined as which of these?
The use of new strategies to improve employee engineers
The term used to describe the improvement engineering process
The use of engineers to solve business problems
The redesign of business processes to achieve improvements
Innovative products need a(n) ___________ supply chain, while functional products need a(n) ____________ supply chain.
Efficient, responsive
Responsive, efficient
Pull, push
Push, pull
Which of these describes the sourcing option called offshore insourcing?
Processes are done at an offshore or nearshore subsidiary of the firm
Processes are sourced from offshore or nearshore vendors
Processes are done in-house in the home country
Processes are sourced from a domestic vendor in the home country
If a firm is worried about distance, country risk, employee morale, intellectual property protection, legal issues, and obtaining specialized talent, then which option is likely the best for this firm?
Offshore
Outsource
Keep in-house
Keep domestic
Which of these are the two primary categories of outsourcing costs?
Transaction costs and intangible costs
Production costs and transaction costs
Production costs and delivery costs
Transaction costs and search costs
Which of these is NOT a production cost?
Market efficiency
Risk costs
Lower-wages in offshore
Specialization
Firms often fail to identify and recognize intangible costs. Why is this often the case?
These costs are harder to quantify
These costs make up a huge percentage of outsourcing costs they are assumed
These types of costs rarely occur
These costs will likely result in huge cost savings in the long term
Which of these is NOT one of the four decision stages of sourcing?
Which processes are candidates for outsourcing?
How much does the process cost?
Where is the process located?
Whom should the firm select to perform the process?
Performance metrics used to determine if a sourcing option was successful include which of these?
Customer satisfaction
Modularity
IT-business coupling
Laws broken versus laws followed
One category of risk factors found on the risk matrix is Partner Factors. These factors can be described as which of these?
Global alignment, customer alignment, employee impacts, and effective change management
Data security, internal controls, effective knowledge transfer, maintenance, welldefined and clear interfaces, and accessibility
Favorable long term wage rate, favorable country environment, business interruption, and socio or political backlash
Partner quality, partner alignment, partner relationship, diversity, and offshore employee turnover
Examples of ___________factors to consider include data security, internal controls, effective knowledge transfer, maintenance, welldefined and clear interfaces, and accessibility.
Partner
External
Implementation
Internal
Sourcing options include all of the following except which of these?
Offshore Insourcing
Offshore Outsourcing
Domestic Insourcing
Domestic Offshoring
Production costs include which of these?
Market efficiency
Search costs
Contract costs
Integration costs
Which of these is one of the four decision stages of sourcing?
Identify which country is cheapest to outsource to
Determine which process has the lowest level employees
Where is the process located?
How will the process be ranked when compared to other processes?
When deciding which process to outsource, a firm should consider which of these?
Customer satisfaction for the vendor selected
Wages of employees in the other country and quality of vendors
Cost of country relocation, vendor incentives, laws, regulations, and country risks
Process maturity, modularity, human capital, and intellectual assets
One category of risk factors found on the risk matrix is Internal Factors. These factors can be described as which of these?
Partner quality, partner alignment, partner relationship, diversity, and offshore employee turnover
Global alignment, customer alignment, employee impacts, and effective change management
Data security, internal controls, effective knowledge transfer, maintenance, welldefined and clear interfaces, and accessibility
Favorable long term wage rate, favorable country environment, business interruption, and socio or political backlash
Domestic outsourcing is described as which of these?
Processes are sourced from a domestic vendor in the home country
Processes are done inhouse in the home country
Processes are sourced from offshore or nearshore vendors
Processes are done at an offshore or nearshore subsidiary of the firm
Transaction costs include which of these?
Contract costs
Economies of scale
Market efficiency
Lower-wages in offshore
Which of the following means to postpone IT investments with expected payoff and costs in order to learn about the potential outcomes before committing?
Stage
Defer
Explore
Outsource
Training users and transition management occurs in which stage of project management?
Initiation
Process Mapping
Evaluation
Implementation
Which of these is NOT a critical stage of project management?
Initiate
Process mapping
Implement
Socialize
_____________ includes assets in a firm's balance sheet, while ___________ is expensed from revenues in the current period (included in a profit and loss statement).
OPEX, CAPEX
CAPEX, OPEX
NPV, Cash Flow
Cash Flow, NPV
Net Present Value (NPV) is which of these?
The present value of future cash flows minus the initial investments
The present value plus the initial cost
The future value minus the initial cost
The future value of cash flows plus the current values
Which of these is NOT one of the most critical guidelines for change management success?
Communication
Identification of key players
Management of transitions to new system
Employee referral programs
Why is it critical to communicate the IT project benefits during implementation?
To lessen acceptance
To minimize rumors
To delay project launch
To force compliance
One change management strategy used to manage the transition to a new software system is which of these?
Voluntary use of the new system
Surprise roll out of the new system
Immediate roll out of the new system
Gradual roll out of the new system
One of the primary reasons most large IT implementation projects fail is which of these?
Low-skilled employees
Poor change management
Outdated policies
Lack of training
Setting project goals and creating a project task force occurs in which stage of project management?
Awareness Vision and Objectives
Process Mapping
Implementation
Evaluation
Capital Expenditures (CAPEX) include which of these?
Cost of maintenance and repairs
Money spent to create additional facilities and increase capacity
On-going and recurring expenses that keep assets running
Insurance
{"name":"MIS 302F Final Study Guide Part 4", "url":"https://www.quiz-maker.com/QPREVIEW","txt":"Test your knowledge and understanding of key concepts in supply chain management and enterprise resource planning with this comprehensive quiz. Designed for students and professionals alike, this quiz features 50 questions covering various aspects of MIS 302F topics.Multiple choice and checkbox questionsInstant feedback on your answersTrack your progress and understanding","img":"https:/images/course1.png"}
More Quizzes
Final Exam
1585
81-99
1910129
OPMAN
10516
تحليل كمي كويز ماده الميد mohammad bzour
26130
FIS (By: A.Helal)
7738125
Team MKJ
1166
Business Environment
6323
Final Examination (Applied Business Tools and Technologies)
452228
Midterm AHPA 4285 Management practice in EMS Review
10518
CSIT214_Lec2
10534
Chapters 8
1890
GST 231: ENTREPRENEUAL SKILLS (2 UNITS)
10521