A value chain is a series of activities from supplier to customer that add value

Question

A value chain is a series of activities from supplier to customer that add value to a product or service. True False All of the following are characteristics of today's consumer market except longer product life cycles shorter product life cycles more customized products product proliferation Ensuring good quality underlies all operational decisions. True False Globalization requires that firms compete on cost and not quality speed or flexibility. True False Order qualifiers and order winners influence a customers purchase decision. True False Japanese firms used the concept of to convert from mass production to lean production division of labor scientific management just-in-time interchangeable parts

Explanation / Answer

4) The correct choice is true

Explanation : - Value chain is a sequence of related enterprises that conduct activities to add value to a product from primary production , processing and marketing , up to the final sale to the consumer .

5) The correct choice is a)

Explanation : - Due to the fast pace of technological development , products in todays consumer market do not have a longer product life cycles .

6) The correct choice is true

Explanation : Quality underlies all operational decisions . The level of quality a company seeks to achieve is a strategic decision that eventually determines how a product is made or a service is delivered. Designing products and services, designing and planning the production process , locating and developing the production facility , designing jobs and work activities , managing the supply chain, and planning and scheduling of products throughout the system are all areas of operational decisions that depend on quality .

7) The correct choice is false

Explanation : - Globalization requires that firms compete on quality because companies can find good talent from anywhere across the world and such workers can easily be hired . Therefore if the quality of workforce is not good , firms can easily replace poor quality workforce by hiring good quality workforce from a different location . cost is not the sole driving factor for globalization .

8) The correct choice is false

Explanation : Only order winners influence the final buying decision whereas order qualifiers are those features provided by all manufacturers which make the product to be considered for purchase by the customer.

9) The correct choice is C

Explanation : Just in time is an integral part of lean manufacturing system . In the just in time system suppliers are responsible for delivering only the parts that are needed and when they are needed . This eliminates the need for manufacturers to store large inventories of parts , thus allowing for significant cost savings .

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