Product & Service Design
Subway lets you choose your bread, filling and sauce, but the process is the same for everyone. Is this mass customization or full customization?
Mass customization
Where does a supply chain start and where does it end?
It starts with the suppliers of raw materials and ends with the final customer.
Capacity is the ___ limit of what a system can produce
Upper (capacity is a ceiling).
What do the letters in PESTEL stand for?
Political, Economic, Social, Technological, Ecological (Environmental), Legal.
What is the productivity formula:
Output ÷ Input.
A waterproof phone that works in rain and snow is an example of which design?
Robust design.
Which department buys materials and parts for the company?
Purchasing (procurement).
What do we call the slowest step, the one that limits the whole process?
The bottleneck.
Which comes first: mission or tactics?
Mission
IKEA wants to be the cheapest in the industry. Which strategy is this?
Cost leadership.
Benetton makes all its sweaters white and dyes them only once it knows which colors are popular. What is this called?
Delayed differentiation
Name one of the three flows in a supply chain.
Product/service flow, information flow, or financial flow.
An empty seat on today’s flight can’t be sold tomorrow. Why?
Service capacity cannot be stored.
Is a brand a tangible or an intangible resource?
intangible
Apple charges premium prices for unique design. Which strategy is this?
Differentiation.
Products are tangible. What are services?
Intangible.
Which supply chain focuses on removing waste and keeping costs low: le**?
Lean
Which strategy builds capacity before demand appears: leading or following?
Leading.
In VRIO, which letter is checked first?
V (Valuable).
What is Walmart’s famous pricing slogan
Everyday Low Price (EDLP)
LEGO and computers with replaceable parts are examples of which design?
Modular design.
Using nearby suppliers to cut delivery time and risk is called…?
Near-sourcing.
Who needs more spare capacity: a hospital ER or a steel plant?
The hospital ER, because its demand is uncertain.
Name one of the three core functions of any organization.
Marketing, Operations, or Finance.
The Balanced Scorecard has four perspectives. Name two of them.
Financial, Customer, Internal Processes, Learning & Growth.