QUESTION Consumers in the most developed countries are often willing to sacrifice their preferred product attributes for lower priced products. Indicate whether the statement is true or false. ANSWER FALSE For most consumer durables, product reliability may be a more important attribute in less developed nations, where such a purchase may account for a […]
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 […]
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
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. […]
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 […]
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
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 […]
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 […]
QUESTION Which of the following was pioneered by Japanese firms during that country’s remarkable economic transformation during the 1960s and 1970s? A. Lean production B. Flexible manufacturing technology C. Dynamic capabilities D. Just-in-time inventory systems E. Global learning ANSWER D
QUESTION A critical aspect of the marketing function is identifying gaps in the market so that a firm can develop new products to fill those gaps. Indicate whether the statement is true or false. ANSWER TRUE A critical aspect of the marketing function is identifying gaps in the market so that the firm can […]
