Question

True/False: 1. Efficiency means doing something at the lowest possible cost.

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

3. A process cannot be effective without being efficient.

4. Operations and supply chain management is defined as the design, operation, and process of the systems that create and deliver the firm's primary products and services.

5. The term "value" refers to the relationship between size and the price paid by the consumer.

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

7. Supply networks can be constructed for every product or service.

8. "Operations" does not refer to manufacturing and service processes used to transform resources employed by a firm into products desired by customers.

9. 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.

10. 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.

11. Core service providers must integrate tangible goods.

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

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

14. Sustainability is the ability to maintain balance in a system.

15. 51. The term "electronic commerce" does not refer to the buying and selling of electronic products and devices.

16. Operations and supply chain strategy is concerned with setting broad policies and plans for using the resources of a firm and must be integrated with corporate strategy.

17. The major competitive dimensions that form the competitive position of a firm does not include delivery speed.

Answer 1

Ans:

1. True
2. True
3. False
4. True
5. False
6. False
7. True
8. False
9. True
10. True
11. True
12. True
13. False
14. True
15. True
16. True
17. False