What is the most impactful trend in supply chain management over the last quarter century? Justify your choice
What will be an ideal response?
Answer: The authors name electronic commerce as the greatest influence on business. Electronic commerce is the use of information technology solutions to automate business transactions. E-commerce promises to improve the speed, quality, and cost of business communications and can be used to coordinate a supply chain. Entire industries and countless business have developed thanks to the Internet and e-commerce. In the entertainment industry alone, Netflix has moved from a distributor of DVDs to a streaming service and the music industry has undergone a sea change in how new music is marketed and distributed. Answers may vary.
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Critics warn that employees of a company that become reliant on an outside supplier for critical components will:
A) encourage outsourcing B) become used to value-added components C) lose expertise and engineering skills D) use time for developing other skills E) look for employment with competitors
Customers define the scope of the project, and ultimately, project success rests in their satisfaction.
Answer the following statement true (T) or false (F)
Persuasive advertising works well for ________
A) building brand awareness and for introduction of new products and services B) eliminating negative perceptions about a brand and reinforcing positive ones C) stimulating repeat purchase behavior of products or services already launched in the market D) reassuring current purchasers that they have made the correct decision
Describe the cost accumulation process in a traditional manufacturing environment versus a just-in-time (JIT) environment