Shared Flashcard Set

Details

SCM 373: Final Exam
Final exam notecards
114
Business
12/11/2009

Additional Business Flashcards

 


 

Cards

Term
Define Risk Management
Definition
____ is something that is done to mitigate; a method used to avoid, reduce, transfer, or share risks
Term
Define Disruption
Definition
____ is an unplanned and [at times] unanticipated event that disrupts the normal flow of goods and materials within a supply chain
Term
Why might Unions not still be needed in the Railroad Industry?
Definition
____ might still need be needed in the Railroad industry because they have become an institution of their own and add no value
Term
What are the 3 Steps to Managing Disruptions?
Definition
The 3 Steps to Managing ____ are:
1) Discovery (find it asap)
2) Recovery (get back to initial state (put out fire))
3) Redesign (eg....move away from hurricanes)
Term
What are some External Factors of risk?
Definition
Demand, Supply, Environment, Business, and Physical Plant are ____ of risk
Term
What are some Internal Factors of risk?
Definition
Manufacturing risks, Business risks, Planning and controlling risks, Mitigation and contingency risks are ____ of risk
Term
Define Supply Chain Sustainability
Definition
____ is using resources that meet the needs of the present without compromising the ability of future generations to meet their own needs
Term
Define Vulnerability
Definition
____ is the propensity of risk to become disruption, adjective that describes the Supply Chain
Term
Define Resilience
Definition
____ is returning to the original state. Increased through structure (and redesign) and visibility. Have many options, have info, quick to discover to stop faster
Term
Define Business Continuity Planning
Definition
____ is minimizing the effects of unanticipated events on the firm's ability to meet customer requirements
Term
Define Crisis Management
Definition
____ is avoiding/managing organizational crisis in a systematic way
Term
What are the 6 Steps of the Risk Management Process?
Definition
1) Profile the supply base
2) Asses Vulnerability
3) Evaluate Implications
4)Create Mitigation / Contingency plans
5) Complete Cost/Benefit Analysis
6) Gain Management Support and Implement Plan
Term
What are the 4 Sources of Risk?
Definition
The 4 Sources of ____ are:
1) Market
2) Supply
3) Demand
4) Financial
Term
What is the main takeaway from the DSM and Glow Globes cases?
Definition
Understanding what is in- and what is out-of-scope is the main point of ____
Term
What is the correct answer for DSM, and why?
Definition
The main point of ____ is to put the plant in Des Moines/Marshalltown: because the paint was filled there, it is along rail routes, inspections already occur there, area had largest demand
Term
What is the correct answer for Glow Globes, and why?
Definition
The main point of ____ is to build the warehouse in Portland: because it is able to decrease stockouts, increase customer service, and positively impact the bottom line/total financial scope
Term
Why did Unions form in the Railroad Industry?
Definition
____ formed in the ____ industry to give workers a united voice, because they were being taken advantage by owners
Term
Why do Unions still exist in the Railroad Industry?
Definition
____ still exist in the railroad industry because:
1) They are still needed for the same reasons
2) They only exist out of inertia
Term
Define Robber Barons
Definition
____ ____ used to own the railroads; were genius yet egotistical & power hungry
Term
Define Coercive Power
Definition
____ ____ is the use of sheer force of strength, money, position to you control your opponents; when one side over-uses ____ ____, the other side will rebel
Term
What is the significance of the Little Red Caboose?
Definition
Two things that drove the formation of the unions in the railroad industry: 1) XXX; 2) Life insurance
Term
Define Mediators (in terms of the railroad unions)
Definition
____ are third parties involved in negotiations, to allow for civil conversation between parties; are required in the railroad industry
Term
Describe the Rail Safety Appliance Act
Definition
The ____ Act:
1) Was used to advocate for consumer/public interests
2) Government mandated airbrakes
3) Caused the Pullman's Strike
Term
Describe the Railway Labor Act
Definition
The ____ Act is:
1) A law that is still in place
2) Includes: procedures for changing rates of pay, rules, or working conditions
3) Mandates the AVOIDANCE AT ALL COSTS of disruptions in commerce
Term
What is the primary rule of the Railway Labor Act?
Definition
The primary rule of the ____ Act is to avoid disruptions at all costs!
Term
What is the the Wagner Act?
Definition
The ____ Act is the National Labor Relations Act (NLRA)
Term
Define Sustainability (using the Brundtland definition)
Definition
____ is meeting the needs of the present generation without compromising the ability of the future generations to meet their own needs
Term
What are the three components of the Triple Bottom Line?
Definition
The 3 components of the ___ are:
1) Social (people)
2) Environmental (planet)
3) Economic (Profit)
Term
What is the MSU Sustainability Initiative
Definition
The ____ is focused on multi-faceted, interdepartmental sustainability, moving beyond just green
Term
What is the main takeaway from the UTi presentation?
Definition
The main takeaway from the ____ presentation was the concept of a spaghetti dinner for problem solving.
Term
What are the 3 components of the Spaghetti Dinner metaphor (UTi presentation)
Definition
The following concepts describe the ____ metaphor:
1) Stand Alone Service - Make at home
2) For a particular problem - prepackaged dinner
3) Enterprise solution - Restaurant
Term
When fuel costs increase, and:
Efficiencies: Inbound > Outbound, you should have (more/fewer) DC's
Definition
When fuel costs increase:
You should have more DC's if:
Efficiencies: Inbound (>?) Outbound
Term
When fuel costs increase, and:
Efficiencies: Outbound > Inbound, you should have (more/fewer) DC's
Definition
When fuel costs increase:
You should have fewer DC's if:
Efficiencies: Inbound (>?) Outbound
Term
What are Weber's 3 Classifications of Industries?
Definition
____'s 3 Classifications of ____ are:
1) Weight losing
2) Weight gaining
3) Weight sustaining
Term
Describe Weight Losing industries
Definition
In a Weight ____ industry, raw materials weigh more than the final product; locate facility near raw materials
Term
Describe Weight Gaining industries
Definition
In a Weight ____ industry, raw materials weigh less than the final product; locate facility near final markets
Term
What is the Continuous Single Facility problem?
Definition
In the ____ problem, you need to locate a single facility to minimize transportation costs
Term
What is the most common approach to the Continuous Single Facility problem?
Definition
The Center-of-Gravity (gravity/grid/centroid) method is the most common approach to the ____ problem
Term
What is the Center-of-Gravity (COG) method?
Definition
The ____ method is a geometric property that is the average location of the "weight" of an option
Term
What are the 3 pieces of necessary data for the Center-of-Gravity method?
Definition
The 3 pieces of necessary data for the ____ method are:
1) Weighting (usually volume or population)
2) Location name
3) Grid location
Term
What are the Pros of using the Center-of-Gravity method?
Definition
The pros of using the ____ method are:
1) Cheap
2) Requires little investment/modeling programs
3) Good starting point
Term
What are the Cons of using the Center-of-Gravity method?
Definition
The Cons of using the ____ method are:
1) Does not taking into account other variables (EG: cost)
2) Can be tedious to retrieve coordinates if there are many locations
3) Works poorly with countries on different continents (the ideal locale may be in the ocean!)
Term
Define k-Median
Definition
The ____ seeks to find the location of "k" facilities, to minimize the demand weighted average/total distance between nodes and the nearest factory
Term
Define k-Center
Definition
The ____ seeks to find the location of "k" facilities that can cover all demand nodes in the minimum possible distance
Term
Define Set Covering
Definition
____ seeks to find the minimum number of facilities needed to cover all demand within the specified distance
Term
Define Maximal Covering
Definition
___ seeks to find the maximum number of demands that can be covered in a specified distance by a given number of facilities
Term
What are the 2 things one seeks to minimize using k-Median?
Definition
The 2 things one seeks to minimize using ____ are:
1) Total cost
2) Travel time
Term
What are the 4 Steps in Finding the k-Median?
Definition
The 4 Steps in finding the ____ are:
1) Calculate distance matrix
2) Multiply distance matrix by population
3) Add up total travel time
4) Find minimum
Term
What does a k-Center seek to do?
Definition
A ____ seeks to either:
1) Minimize the distance that any one user has to travel
2) Maximize the distance from any one user
Term
What is the main factor that the k-Center doesn't take into account?
Definition
The main factor that the ____ doesn't take into account is population
Term
What are 3 Approaches to the Dynamic Facility Location dilemma?
Definition
The 3 Approaches to the ____ dilemma are:
1) Finding a solution for this year, and future years, and averaging them
2) Find a solution for this year, and then calculate a new solution every year
3) Build a multi-period program that uses forecasted demand and/or cost
Term
What is the Dynamic Facility Location dilemma?
Definition
The ____ dilemma is that demand and costs change over time, and that one must chose a ____ that is good for the future
Term
What 2 factors are more important to Retail and Service Locations than transportation and warehouse costs?
Definition
The 2 factors that are more important to ____ and ____ locations than transportation and warehouse costs are:
1) Revenue
2) Accessibility
Term
What are the 5 Factors affecting Retail/Service site location?
Definition
The 5 factors affecting ____ site location are:
1) Demographics
2) Traffic flow and accessibility
3) Retail structure
4) Site characteristics
5) Legal and cost factors
Term
What are the main takeaways from the Routing lecture?
Definition
The main takeaways from the ____ lecture are:
1) Routing and scheduling problems can get very complex
2) Some heuristic methods can provide good solutions quickly
3) To solve large problems, combine optimization with heuristic approaches
4) ____ is the backbone to all software
Term
What are the 4 Types of Vehicle Routing?
Definition
The 4 types of ____ are: 1) Greedy heuristic 2) Closest-next 3) Sweep 4) Clarke-Wright savings method (FYI)
Term
What is Dijkstra's Algorithm
Definition
____'s Algorithm finds the shortest path between two points on a network, by finding the shortest path between one node and all other nodes on the network
Term
What is an Euler Tour?
Definition
A ____ is a circuit that traverses every edge of a graph exactly once, beginning and ending at the same point
Term
What is the main requirement for a Euler Tour?
Definition
The main requirement for a ____ is that the graph contains no nodes of odd degree
Term
What are the 4 Steps to take if no Euler Tour exists?
Definition
The 4 Steps to take if no ____ exits are:
1) Identify all odd degree nodes
2) Find the min. length matching between them
3) Add these paths into the network
4) Find an ____ on the enhanced network
*) This is the min. length edge-covering tour
Term
Considering the Dynamic Facility Location dilemma, when should one change locations every year based on new demand?
Definition
Considering the ____ dilemma, one should change locations every year if the cost savings are higher than moving expenses
Term
What does "INCO Terms" stand for?
Definition
INternational COmmercial terms can be abbreviated as ____
Term
What are 4 Major Benefits of Free Trade Zones?
Definition
4 Major Benefits of ___ are:
1) Duty elimination
2) Duty deferral
3) Duty reduction
4) Weekly entry savings
Term
In terms of FTZs, define Duty Elimination
Definition
In terms of FTZs, ____ is: no duty for reexports; or scrap, waste, or items destroyed/consumed within zone
Term
In terms of FTZs, define Duty Deferral
Definition
In terms of FTZs, ____ is: duty only paid when and if merchandise is transferred into US Customers territory
Term
In terms of FTZs, define Duty Reductions
Definition
In terms of FTZs, ____ is: inverted tariff; duty that applies only to the condition upon departure from the zone
Term
In terms of FTZs, define Weekly Entry Savings
Definition
In terms of FTZs, ____ is: file one custom entry per week
Term
What are Reasons to Expand Globally?
Definition
Reasons to ____ are:
1) More customers
2) Cheaper manufacturing
3) Expanding before the competitor to create brand loyalty
4) Economy of scale
5) Take advantage of weather seasonality
6) Distribute risks
Term
What are some Direct Global Costs?
Definition
Some ____ costs are:
1) Inventory carrying cost
2) Transportation
3) Duties and tariffs
4) Insurance premiums
5) Currency fluctuations
Term
Define Duty Drawback
Definition
____ is getting money back from what you paid for importing
Term
Describe sourcing Pre-Industrial Revolution
Definition
Pre-____, there were usually only one or two potential buyers
Term
What are the 5 Steps in the "Short Relationship Life Cycle"
Definition
The 5 Steps in the ____ cycle are:
1) Awareness
2) Exploration
3) Expansion
4) Commitment
5) Dissolution
Term
To what did Professor Griffis compare the Sourcing Relationship Cycle?
Definition
Professor Griffis described ___ as being similar to a dating relationship
Term
What are the 4 Steps along the Continuum of Depth of Interaction?
Definition
The 4 Steps along the ____ are:
1) Transactional
2) Repeated transactions
3) Long-term relationships
4) Alliances
Term
Relationship Strength (increases/decreases) from Transaction to Alliances
Definition
Relationship Strength increases from ____ to ____
Term
Governance (increases/decreases) from Transaction to Alliances
Definition
Governance increases from ____ to ____
Term
Economic Power (increases/decreases) from Transaction to Alliances
Definition
Economic Power decreases from ____ to ____
Term
Define Governance
Definition
____ is the explicitness of the rules that are set
Term
Define Economic Power
Definition
____ is the ability to "vote with your feet"; switching costs
Term
What are the 2 components to consider when Deciding how Close to Work with Another Company?
Definition
The 2 components to consider when deciding ____ are:
1) Drivers
2) Facilitators
Term
What are the 5 Drivers?
Definition
The 5 ____ are:
1) Market advantages
2) Cost/efficiency
3) Customer service improvement
4) Profit growth and sustainability
5) Exclusivity
Term
What are the 5 Facilitators?
Definition
The 5 ____ are:
1) Location
2) National culture
3) Alignment
4) Prior history
5) Shared endorser/competitor
Term
If both Drivers and Facilitators are low, how would one describe the relationship?
Definition
If both ____ and ____ are low, the relationship could be described as an arm's length transaction
Term
When either Drivers or Facilitators is medium, and the other is low, how would one describe the relationship?
Definition
When either ____ or ____ is medium, and the other is low, the relationship could be described as a mutual recognition of a partnership
Term
What are the 4 Purchasing Approaches?
Definition
The 4 ____ Approaches are:
1) Trust-based partnership
2) Balanced sourcing
3) Unleveraged purchasing
4) Darwinian rivalry
Term
Trust-based Partnership
Commitment to cooperative relationship is: (hi/lo)
Commitment to competitive pricing is: (hi/lo)
Definition
Trust-based Partnership
Commitment to a ____ relationship is: hi
Commitment to ____ pricing is: lo
Term
Balanced Sourcing
Commitment to cooperative relationship is: (hi/lo)
Commitment to competitive pricing is: (hi/lo)
Definition
Balanced Sourcing
Commitment to a ____ relationship is: hi
Commitment to ____ pricing is: hi
Term
Unleveraged Purchasing
Commitment to cooperative relationship is: (hi/lo)
Commitment to competitive pricing is: (hi/lo)
Definition
Unleveraged Purchasing
Commitment to a ____ relationship is: lo
Commitment to ____ pricing is: lo
Term
Darwinian Rivalry
Commitment to cooperative relationship is: (hi/lo)
Commitment to competitive pricing is: (hi/lo)
Definition
Darwinian Rivalry
Commitment to a ____ relationship is: lo
Commitment to ____ pricing is: hi
Term
What are the 2 Types of Integration?
Definition
The 2 Types of ____ are:
1) Internal
2) External
Term
What are 3 Examples of Internal Integration?
Definition
3 Examples of ____ Integration are:
1) Cross-functional
2) Locations
3) Stakeholders
Term
What are 3 Examples of External Integration?
Definition
3 Examples of ____ Integration are:
1) Suppliers
2) Distributors
3) Consumers
Term
What are the 2 Components of Bensaou's Framework (1999)?
Definition
The 2 Components of ____ are:
1) Buyer-specific investments
2) Supplier-specific investments
Term
What are 2 Things to Consider When "Breaking Up"?
Definition
2 things to consider when ____ are:
1) Intellectual property
2) Capital investments
Term
How will the Panama Canal expansion affect CSX?
Definition
The expansion of the ____ will cause a restructuring of CSX's routes in 2014
Term
What are the 3 Goals of CSX, and who are the 3 Beneficiaries of these goals?
Definition
The 3 Goals and Beneficiaries of ____ are:
1) Safety - Employees
2) Service - Customers/Public
3) Profit - Company/Shareholders
Term
Describe the Clean Air Act
Definition
The ____ Act:
1) Was passed in 1970, updated in 1990
2) Requires documentation of current emission levels and provides steps to reduce these levels
3) Came about due to acid rain problems
Term
Describe Fair Trade
Definition
____ guarantees that strict economic, social, and environmental criteria were met in production and trade of an agricultural product
Term
What is ISO 14000 Certification?
Definition
____ Certification sets a similar standard of quality and protocols; more efficient, safer, and cleaner
Term
What are the 2 Components of Economic Sustainability?
Definition
The 2 Components of ____ are:
1) Revenue growth
2) Cost savings
Term
What is Environmentally Preferable Purchasing (EPP)?
Definition
____, implemented by the EPA, are products and services that most effectively minimize negative environmental impacts
Term
What are 3 Sources of Renewable Energy?
Definition
The 3 Sources of ____ are:
1) Biofuels
2) Solar
3) Wind
Term
What is LEED Certification?
Definition
____ Certification ensures buildings are designed and built with environmental stewardship in mind
Term
What are the 4 Levels of LEED Certification, in order of least to most green?
Definition
The 4 Levels of ____, in order of least to most green are:
1) Certified
2) Silver
3) Gold
4) Platinum
Term
What are Net-Zero Energy buildings?
Definition
____ buildings generate as much energy as they consume
Term
What are the 5 Types of Supply Risk?
Definition
The 5 Types of ____ Risk are:
1) Business strategy
2) Supplier
3) Operations
4) Logistics
5) Inventory
Term
Define Security
Definition
____ is the application of policies, procedures, and technology to protect assets and prevent the introduction to the supply chain of unauthorized items
Term
What is the Rationale for Supply Chain Security?
Definition
The ____ for Supply Chain ____ is to proactively enhance SC resiliency against terrorism
Term
What are the 7 Areas in which we are Vulnerable to Terrorist Threats?
Definition
The 7 Areas in which we are ____ to Terrorist Threats are:
1) Governance
2) Telecommunications
3) Transportation
4) Water supplies
5) Food processing
6) Food production
7) Food distribution
Term
What are the 2 Key Factors that Drive the Enhancement of Security?
Definition
The 2 Key Factors that Drive ____ are:
1) Brand protection (Primary reason)
2) Government Pressure
Term
Define Country of Origin Labeling (COOL)
Definition
____ are guidelines that have been developed for some agricultural and food products
Term
What are the Ramifications of the Bio-Terrorism Act of 2002?
Definition
The Ramifications of the ____ Act of 2002 is that firms engaged in food processing must be able to trace raw material and finished goods one tier up and one tier down the supply chain
Term
What are 8 Current Security Initiatives?
Definition
8 Current ____ Initiatives are:
1) Customs-Trade Partnership Against Terrorism (C-TPAT)
2) Container Security Iniative (CSI)
3) Advanced Manifest Rule (AMR)
4) Advanced Cargo Information (ACI)
5) Fast and Secure Trade (FAST)
6) ISO's Smart and Secure Tradelanes (SST)
7) World Customs Organization (WCO)
8) World Trade Organization (WTO)
Term
***What are the 8 Principles of Vehicle Routing?***
Definition
The 8 Principles of ____ are:
1) Attempt to serve a geographical area on the same days
2) Stops should be clustered according to geographical proximity
3) Build routes beginning with the farthest away stop
4) Routes should form a teardrop pattern
5) Try to fill the largest vehicles first
6) Pickups should be mixed into delivery routes, rather than assigned at the end
7) An isolated stop is a good candidate for dedicated small truck, or a "for hire"
8) Avoid narrow time windows