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Flashcards in Deck 14 Deck (20):
1

Porter's Five Forces

1. Barriers to Entry, 2. Market competitiveness, 3. Existence of substitute products, 4. bargaining power of customers, and 5. bargaining power of suppliers

2

4 key management processes pertaining to SCOR model

1) Plan, 2) Source 3) Make, and 4) Deliver

3

The impact of a government price support program would lead to

Surpluses

4

Selecting vendors is what kind of activity in the SCOR model

Source

5

What is the most rigorous standard of quality?

Absolute conformance

6

The theory of constraints is concerned with

Maximizing throughput by identifying constraints

7

Business process management (BPM) is an approach that seeks

Continuous improvement in customer satisfaction

8

Offshore operations

Outsourcing of services or business functions to a third party in a different country

9

Business process management vs. Business process reengineering

BPM seeks incremental (small) changes while BPR seeks dramatic changes

10

Just-in-Time (JIT) is considered a push or pull system?

Pull system

11

Conformance Costs include

Prevention and appraisal costs

12

Prevention vs. Appraisal costs

Prevention costs prevent the production of defective units; appraisal costs discover and remove defective parts before they are shipped

13

Nonconformance costs include

Internal and external failure costs

14

Total quality management (TQM)

Commitment to customer-focused performance that emphasizes both quality and continuous improvement

15

Lean Manufacturing

Use only those resources required to meet the requirements of the customer; focus is on waste reduction and efficiency

16

What happens when production exceeds sales?

Inventory increases which will cause absorption costing net income to be greater than variable costing net income

17

Project charter

Document that contains business justification to fulfill the needs of stakeholders

18

Project sponsor

Provide resources and support to the project; responsible for the overall project delivery

19

Scope baseline

Written approved statement of the project scope work breakdown structure

20

Globalization is measured by

World trade as a percentage of GDP