QUESTION The elasticity of demand for a product in a given country is determined by a number of factors, of which income level and competitive conditions are the two most important. Indicate whether the statement is true or false. ANSWER TRUE The elasticity of demand for a product in a given country is determined […]
Date: September 3rd, 2020
QUESTION A major cost saving from just-in-time inventory systems comes from: A. a shift in focus away from quality. B. increasing productivity of workers. C. speeding up inventory turnover. D. creating a buffer stock of inventory. E. writing off excess unsold inventory against earnings. ANSWER C
Date: September 3rd, 2020
QUESTION What do firms now typically use via the Internet to coordinate the flow of materials into manufacturing, through manufacturing, and out to customers? A. Flexible manufacturing technology B. Lean production C. Computer-aided manufacturing D. Electronic data interchange E. Just-in-time inventory systems ANSWER D
Date: September 3rd, 2020
QUESTION One way to reduce the risks associated with a global supply chain that operates on just-in-time principles is to: A. depend on one supplier for an important input. B. outsource the production of inputs only to advanced countries. C. hold an excess buffer stock of inventory. D. source inputs from several suppliers located in […]
Date: September 3rd, 2020
QUESTION Which of the following allows suppliers, shippers, and the purchasing firm to communicate with each other via the Internet with no time delay? A. Electronic data interchange system B. Data warehousing system C. Batch processing system D. Skills inventory system E. Just-in-time inventory system ANSWER A
Date: September 3rd, 2020
QUESTION Which of the following is a consequence of using just-in-time inventory systems? A. It slows down inventory turnover. B. It increases inventory holding costs. C. It increases the amount of working capital a firm needs. D. It can help firms improve product quality. E. It does not allow defective inputs to be spotted immediately. […]
Date: September 3rd, 2020
QUESTION Geminia Systems, a manufacturer of car components, wants to set up a system that will help in sending invoices to its customers once orders for input supply are placed. Which of the following should the company use to perform this function? A. Computer-aided design system B. Lean production C. Just-in-time inventory system D. Electronic […]
Date: September 3rd, 2020
QUESTION Which of the following has caused proprietary software solutions to implement electronic data interchange systems become obsolete? A. Just-in-time inventory system B. Flexible machine technology C. The Internet D. Dynamic capabilities E. Social Networking ANSWER C
Date: September 3rd, 2020
QUESTION Which of the following is a consequence of an electronic data interchange system? A. Increased in production costs B. Reduction in paperwork between suppliers, shippers, and the purchasing firm C. Helps a firm centralize materials management decisions D. Decrease in flexibility and responsiveness of the supply system E. Leaves a firm without a buffer […]
Date: September 3rd, 2020
QUESTION A global marketing strategy that views the world’s consumers as similar in their preferences is consistent with the mass production of a standardized output. Indicate whether the statement is true or false. ANSWER TRUE A global marketing strategy that views the world’s consumers as similar in their tastes and preferences is consistent with […]
Date: September 3rd, 2020
