QUESTION 17 An example of an industry that would benefit from being Agile would
ID: 360652 • Letter: Q
Question
QUESTION 17
An example of an industry that would benefit from being Agile would be
companies in industries that see low volatility in demand and a small variation in their product offerings.
the automotive industry
the fashion industry
steel mills
3 points
QUESTION 18
There are four different types of response flexibility. Which one represents how quickly and efficiently the supply chain can alter products and service features to the needs of particular customers?
New Product
Variety
Customization
Volume
3 points
QUESTION 19
When working on integrating data and IT, the process of exchanging information internally is known as
internal integration
planning integration
functional awareness
information exchange integration
3 points
QUESTION 20
An example of an industry that would benefit from being Lean would be
software manufacturers
the automotive industry
companies in industries that see high volativlity in demand and a large variation in their product offerings
the fashion industry
companies in industries that see low volatility in demand and a small variation in their product offerings.
the automotive industry
the fashion industry
steel mills
Explanation / Answer
Q17.
Agile management is better only when the nature of the product and the demand pattern is volatile. In other words, it helps to match the rapid changes happening in the environment. This is true for Fashion Industry. Rest all are relatively stabler and the first option is just opposite.
Q18.
Customization flexibility - as it is the ability to quickly and efficiently provide a wide range of "respond to order" products. This is sometimes called mass customization and is fundamentally about having economies of scope or at least avoiding diseconomies of scope.
Q19.
It should be Information exchange integration because internal integration goes beyond IT and planning integration and functional awareness are different things altogether.
Q20.
While lean can be applied to any situation, Automotive Industry should be the best choice as it experiences a stable demand pattern and predictable market. All others are are relatively more volatile.
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