15- Salman extends the delivery of goods to buyers for one week due to the lockdown. What type of decision is Salman making? a. strategic decision b. major decision c. long-term decision d. operational decision

15- Salman extends the delivery of goods to buyers for one week due to the lockdown. What type of decision is Salman making? a. strategic decision b. major decision c. long-term decision d. operational decision

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 56P

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Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?
Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
22. Which of the following factors will affect decision making? A. The time available to make the decision. B. The effort that a given strategy will involve.C. The decision maker’s knowledge about the environment.D. The importance of making an accurate decision.
QUESITON 13 Customer relationship management system enable organisations to A.be more focused on product development B.be more productive C.provide more personalised service D.become demand driven rather than supplier driven Question 14 When considering decision making under uncertainty - MAXIMAX is viewed as A.having the least possible loss B.None of the answers presented C.the alternative that maximizes the minimum outcome for every alternative D.the alternative with the highest average outcome
Nissan car company extending the due date for delivery is an example of ________. a. None of the given options b. Operational decision c. Major decision d. Strategic decision
Quantitative Methods 1.Which of the following is a decision-making criterion that is used for decision making under risk? a.) expected monetary value criterion b.) Hurwicz criterion (criterion of realism) c.) optimistic (maximax) criterion d.) equally likely criterion 2.If probabilities are available to the decision maker, then the decision-making environment is called a.) certainty. b.) uncertainty. c.) risk. d.) none of the above. 3.The most that a person should pay for perfect information is ________________ a.) the EVPI. b.) the maximum EMV minus the minimum EMV. c.) the maximum EOL. d.) the maximum EMV.
At Jill's Custom Cakes, the shop includes different areas for mixing, baking, decorating, and packaging. This demonstrates the importance of ______. Question 11 options: A) methods planning B) location planning C) layout planning D) capacity planning E) quality planning
3. Following COSO Framework, the board's responsibilities for effective reporting of risks should include which of the following? a. Inserting specific engagements relating to risk management into the annual audit plan b. Assuring success in management of key risks c. Selecting the specific techniques regarding event identification to be considered in the risk management process d. Regularly reviewing the key risks against risk appetite
The senior management team at ABC Corp. are assessing where a recent project went wrong. There were issues at all areas of management but the item that most strongly suggests that there may have been planning failures is ________. Question 14 options: A) the controlling issues the project experienced were commonly experienced by other project leaders in this industry B) suppliers of components for the project had to produce at maximum capacity which turned out to be impossible C) even if planning had been effective, the project would have failed due to management style D) there was a failure to monitor production output E) two employees who were assigned to the project couldn't stand each other
Multiple choice: 6. Scope change control MUST be integrated with all of the following control processes EXCEPT ( ).A. ScheduleB. CostC. ProcurementD. Quality7. In the PDCA cycle of quality management, the function of "D" is ( ).A. transforms quality target values into actual values through input-output activitiesB. take corrective actions to correct the problems or failures in quality inspectionC. determine quality objectives and develop action plans to achieve quality objectivesD. examines the implementation and results of the plan8. As the project enters the execution phase, the project manager learns that the team members are workingovertime doing unanticipated work without a change in scope. What is the most likely reason for thissituation? ( )A. Unclear communications management planB. Insufficient work breakdown structureC. Incorrect estimation in activity durationD. Poor resource planning9. Large and medium-sized engineering projects are composed of several ( ) .A. single…
6.Differentiate one of these risk assessments that may be affected by psychological, ideological, religious orotherwise subjective factors, which impact rationality of the process.A. Individual risk assessmentB. Systems risk assessmentC. Simple risk assessmentD. All the above 7.All the statements below involve Risk mitigation EXCEPT A. Obtaining insurance against lossB. Developing system standards (policies, procedures, responsibility standards)C. Performing contingent planningD. Identification of project risks 8.Choose the TRUE statements regarding Risk Assessment.I. Identify hazards and risk factors that have the potential to cause harm.II. A source or a situation with a potential for harm in terms of human injury or ill health.III. Possibility of suffering harm or injury.IV. Analyze and evaluate the risk associated with that hazard. A. I, III & IVB. I & IIIC. I & IVD. I, II & IV 9.Identify two correct answers for Hierarchy of ControlI. EliminationII.…