Products that share characteristics of predictable demand and low profit margin will have competition based on which of the following?
For products with predictable demand and low profit margins, competition is often based on the lowest landed cost. Here's why:
Cost Sensitivity: Low-margin products are sensitive to cost fluctuations, making cost control critical for maintaining profitability.
Price Competition: In markets with predictable demand, customers often choose suppliers based on price, making the lowest landed cost a competitive advantage.
Landed Cost: The total cost of a product delivered to the buyer, including production, transportation, tariffs, and handling, determines its competitiveness.
Efficiency: Efficient supply chain operations that minimize costs across the entire supply chain help achieve the lowest landed cost.
Monczka, R., Handfield, R., Giunipero, L., & Patterson, J. (2015). Purchasing and Supply Chain Management. Cengage Learning.
Christopher, M. (2016). Logistics & Supply Chain Management. Pearson.
A role-based entry into a company's system that aggregates all required sources of information into a single environment is known as:
A portal in the context of supply chain and business systems is a role-based entry that aggregates all necessary sources of information into a single environment. It provides users with personalized and secure access to relevant data, applications, and services needed for their role within the organization. This centralized access point simplifies information retrieval and improves productivity by ensuring that employees can easily find and use the data they need to perform their duties efficiently.
Turban, E., Volonino, L., & Wood, G.R. (2015). Information Technology for Management: Digital Strategies for Insight, Action, and Sustainable Performance. Wiley.
Laudon, K.C., & Laudon, J.P. (2017). Management Information Systems: Managing the Digital Firm. Pearson.
Which of the following factors would typically represent period demand?
Period demand typically refers to the anticipated demand for a product within a specific time frame. This demand is influenced by several factors including forecasts (predictions based on historical data and market analysis), customer orders (actual demand from customers), and promotions (marketing activities designed to boost sales). These elements together provide a comprehensive view of the expected demand during a particular period. Other factors like on-hand inventory and product life cycle influence supply chain decisions but do not directly represent period demand. Reference: APICS Dictionary; APICS CPIM Exam Content Manual.
A sales and marketing directory who wants to transform a company into a customer-driven organization most likely would consider:
Transforming a company into a customer-driven organization involves prioritizing customer preferences and enhancing their experience. Allowing customers to use their preferred channels to interact with the company ensures that the organization is accessible and responsive to customer needs. This approach increases customer satisfaction and loyalty by making it easier for them to engage with the company on their terms. Implementing an independent system to capture customer data (B), initiating a social media presence (C), and focusing product design on manufacturing strengths (D) are important, but the most direct way to become customer-driven is to facilitate seamless and preferred interactions.
Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
Peppers, D., & Rogers, M. (2016). Managing Customer Experience and Relationships: A Strategic Framework. Wiley.
A shipping company investing to reduce damages due to weather conditions is an example of:
Investing to reduce damages due to weather conditions is an example of risk mitigation. Risk mitigation involves taking proactive steps to reduce the adverse effects of potential risks. In this case, the shipping company is investing in measures such as better packaging, improved weather forecasting systems, or reinforced shipping routes to protect against weather-related damages. These actions help to minimize the impact of weather risks on their operations, ensuring more reliable and safe delivery of goods. Reference: Waters, D. (2007). Supply Chain Risk Management: Vulnerability and Resilience in Logistics.
