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A company finds that one of its warehouses is out of capacity to store products. Expanding the physical size of the warehouse is not an option. The most appropriate solution would be to increase the:
The purpose of price differentiation is to:
In a make-or-buy decision, if the product is modular and the company is dependent on knowledge and capacity, outsourcing most likely will be:
A company's annual cost of goods sold is $350 million, and inventory carrying cost is 18%. The company averages four inventory turns. The cost savings resulting from increasing inventory turns from four to six would be:
Supply chains delivering products or services are most able to respond quickly to changing market requirements when:
Throughout most of the supply chain, safety stock will be de-emphasized as a result of improved:
The primary risk associated with outsourcing innovative components to suppliers is:
The practice of supply chain members acting in close collaboration while retaining independent ownership is known as:
A company considers moving a portion of its production to a distant country to support a major customer. Which of the following actions is most effective in mitigating the risk of financial loss in the event of a global economic downturn?
Which of the following elements of total quality management (TQM) results in a lower overall cost of the product?

Question 308 - CSCP discussion

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A company's market is characterized be frequently changing product demand and pressure for short lead times. The company also faces intense competition. To enhance its competitiveness, the company should stress which of the following strategies?

A.
Increase the labor force
Answers
A.
Increase the labor force
B.
Increase work-in-process (WIP) inventory
Answers
B.
Increase work-in-process (WIP) inventory
C.
Reduce cycle times
Answers
C.
Reduce cycle times
D.
Match competitors' prices
Answers
D.
Match competitors' prices
Suggested answer: C

Explanation:

In a market characterized by frequently changing product demand, short lead times, and intense competition, reducing cycle times is critical to maintaining competitiveness. By reducing the time it takes to produce and deliver products, a company can respond more quickly to changes in demand and market conditions, thereby gaining a competitive edge.

Increasing the labor force (A) might help in certain situations but does not address the core issue of responsiveness and efficiency.

Increasing work-in-process (WIP) inventory (B) could lead to higher costs and inefficiencies.

Matching competitors' prices (D) addresses price competition but does not enhance operational competitiveness or responsiveness.

Hopp, W. J., & Spearman, M. L. (2008). Factory Physics. Waveland Press.

Slack, N., Chambers, S., & Johnston, R. (2010). Operations Management. Pearson.

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asked 16/09/2024
Darpan Sodhi
41 questions
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