MNB1601 Oct/Nov 2018 exam paper — questions

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  1. Question 1 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Operations improvement is a common practical principle in the aviation industry. Once managers have determined the extent to which the present operations process satisfies the set objectives, the overall performance of the process should be evaluated. If OR Tambo International uses benchmarking to measure its performance against that of the New York airspace, which type of performance standard is it using to measure its performance?Show the full question

  2. Question 2 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Once the performance of OR Tambo's present operations process has been measured and compared with the desired performance standard, what should the next step be?Show the full question

  3. Question 3 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. The basic science of preventing processes (any technology) from becoming worse is the common language used at airport operations. When major changes in respect of process technology have to be made, which improvement approach should be used?Show the full question

  4. Question 4 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. No operations process is ever completely perfect, and the chance of failures or breakdowns occurring remains regardless of how well operations are managed. During April 2018, OR Tambo's luggage conveyor belt system in Terminal B broke down, causing passengers to arrive at their destinations without their baggage. Several domestic flights were affected and a massive backlog developed. What type of failure has occurred at OR Tambo in this scenario?Show the full question

  5. Question 5 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Failure prevention and recovery are crucial elements of the operations processes used in the aviation industry. If flight engineers use a cause-effect diagram to determine the effect of wind speed on the stability of an aircraft's wings, what type of activity are they conducting?Show the full question

  6. Question 6 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. The way in which Total Quality Management (TQM) is implemented in a business determines how successful the application will be. If OR Tambo International decides to implement Oakland's TQM model at the airport, which one of the following factors should it take into account?Show the full question

  7. Question 7 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Ntombi runs a non-profit organisation that provides vital veterinary services to impoverished communities. PetPro, a large veterinary pharmaceutical company, is one of her largest funders and provides her with nearly all the medicine she requires. Although their contributions are cost-free, PetPro insists on good value for their contribution. The insistence on good value refers to which operations-management guideline?Show the full question

  8. Question 8 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Ntombi has been given a veterinary ward by a local businessman. She plans to use the ward for operations, to keep animals there overnight, and as a storage facility for her equipment. The veterinary ward should be described as an [blank], [blank]. Which pair of terms correctly completes this statement?Show the full question

  9. Question 9 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Different operations have different characteristics, and processes may differ fundamentally in four ways, known as the four Vs. Given that a lower production cost per unit is possible when fixed costs are spread over a larger number of units, which one of the four Vs will influence the cost of making a product or delivering a service?Show the full question

  10. Question 10 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. A jeweller is an example of which type of system?Show the full question

  11. Question 11 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. During which stage in the design of products and services will provision of the product and/or service be made less expensive and easier?Show the full question

  12. Question 12 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Which technique, based on the availability of actual demand data over preceding periods, is used to forecast the demand for the following period? Fill in the missing term.Show the full question

  13. Question 13 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. Vodacom Group Limited is a South African mobile communications company that provides voice, messaging, data and converged services to over 55 million customers. Vodacom delivers a mass service because there [blank]. Which option correctly completes this statement?Show the full question

  14. Question 14 · Operations management · 1 marks

    Questions 1 to 6 are based on an extract titled 'Operations management: Air traffic operations excellence' (Business Cases, 2nd edition), which explains that complacency is the single biggest threat to any airport operation. Nobody should take things for granted, and the concept of operations improvement is a common practical principle. The basic science of preventing processes and technology from becoming worse, failure prevention and recovery, total quality management (TQM), and making processes better are described as the common language used at airport operations such as the New York airspace. Each of the 14 questions in this section counts one mark. [Blank] involve a package of products and services, for example the tangible physical object such as a car (if a product is involved) or the intangible object such as a visit to the theatre (if a service is involved). Which term correctly completes this statement?Show the full question

  15. Question 15 · Human resource management · 1 marks

    An extract from the business case 'Human resource management: Derby Departmental Stores' (Business Cases, 2nd edition) explains that developing and retaining high-performing staff is central to Derby's culture, and that the Operations Director shared his frustration with Don about the performance of Derby's bread deliverers. During the second week of training, the trainees worked alone but could still call their supervisor if problems occurred; various store managers reported that bread deliveries were late, that paperwork was incorrect, and suspected there might be a training problem. Training of bread deliverers at Derby typically begins with broad orientation covering the organisation's mission, vision, values and philosophy. This type of training is similar to a process called ______, which involves introducing the employee to the organisation. Which option correctly completes the blank?Show the full question

  16. Question 16 · Human resource management · 1 marks

    Continuing with the Derby Departmental Stores case, after receiving broad orientation, Derby's bread deliverers receive one week of skills training in the form of one-on-one training conducted by the various supervisors. During this time, the trainee joins the supervisor on what will become his or her own delivery route and observes the activities the supervisor performs at each step. Which type of development method is being described here?Show the full question

  17. Question 17 · Human resource management · 1 marks

    In the Derby Departmental Stores case, it becomes evident that there might be a training problem, as store managers have noted late bread deliveries and incorrect paperwork. The Human Resource Manager recommends that four steps should rather be used to train the bread deliverers: preparation, presentation, performance try-out and follow-up. Which type of development method is being described here?Show the full question

  18. Question 18 · Human resource management · 1 marks

    A further serious problem mentioned by Derby's Operations Director is an unusually high staff turnover rate among the warehouse supervisors. To reduce this turnover, Derby proposes highly specialised away-from-the-job training for all supervisors, with specific attention paid to developing analytical and problem-solving skills by giving trainees a series of hypothetical problems that force them to make immediate decisions. Which type of development method is being described here?Show the full question

  19. Question 19 · Human resource management · 1 marks

    It is noted that the more objective a performance appraisal is, the more successful it is likely to be. An ideal performance appraisal involves comparing an employee's work results with ______. Which option correctly completes the blank?Show the full question

  20. Question 20 · Human resource management · 1 marks

    Tashmeeka works for an international investment company and, as one of Nigeria's top managers, enjoys several benefits that lower-level employees do not have access to. For example, Tashmeeka is entitled to a company car and, being a top-level manager, may choose one of the more expensive vehicles available. Which type of compensation is being described here?Show the full question

  21. Question 21 · Human resource management · 1 marks

    The ______ method compares jobs according to the demands they place on the employee, in terms of factors such as knowledge, communication skills and level of responsibility. Which option correctly completes the blank?Show the full question

  22. Question 22 · Human resource management · 1 marks

    Part of the responsibility of the human resource department and line managers is to turn the potential of employees into performance. Which of the following statements relates to this responsibility?Show the full question

  23. Question 23 · Human resource management · 1 marks

    Mareth owns a very artistic clothing line and is passionate about developing her staff. In order to motivate her staff more effectively, she is studying different approaches to motivation, and is particularly interested in the factors within a person that direct, energise, maintain or stop behaviour. Which motivation theory would you suggest Mareth study, given her interests?Show the full question

  24. Question 24 · Human resource management · 1 marks

    Lindi manages the HR department at Nyala Tours, based in Mpumalanga. While preparing for the 2010 FIFA World Cup, she recognises that she will need more staff who are skilled in tour guiding and who can speak German. These prospective employees will need relevant knowledge of Mpumalanga's attractions, relevant skills and abilities for tour guiding, and the ability to communicate well with German tourists. This step of HR planning is called job ______. Which option correctly completes the blank?Show the full question

  25. Question 25 · Human resource management · 1 marks

    During the selection process, diagnostic interviewing refers to ______. Which option correctly completes the blank?Show the full question

  26. Question 26 · Human resource management · 1 marks

    Lerato has been appointed as the Human Resource Manager for a sought-after art gallery in Brooklyn and is trying to determine the compensation package for the new curator they would like to appoint. Lerato starts with an external comparison by conducting a ______, and then performs an internal comparison by conducting a ______. Which pair of terms correctly completes the blanks, in order?Show the full question

  27. Question 27 · Human resource management · 1 marks

    Sipho wants to know more about Maslow's hierarchy of needs. This theory assumes that there are ______. Which option correctly completes the blank?Show the full question

  28. Question 28 · Human resource management · 1 marks

    Studies have shown that successful organisations share similar human resource management attributes. Which of the following represents such a human resource management attribute?Show the full question

  29. Question 29 · Marketing management · 1 marks

    Lux, Dove and Knorr are all products sold through Unilever. However, each product has its own distinct marketing communication strategy aimed at a specific target market. What type of brand would Lux, Dove and Knorr represent?Show the full question

  30. Question 30 · Marketing management · 1 marks

    Among the alternative distribution channels, which combination of participants would you typically find in Channel 4 (four)?Show the full question

  31. Question 31 · Marketing management · 1 marks

    Lexus vehicles are advertised in prestigious magazines and sold at exclusive dealerships for a much higher price than the Toyota RAV4. This situation illustrates which concept?Show the full question

  32. Question 32 · Marketing management · 1 marks

    Pre-testing a questionnaire will enable a researcher to do what?Show the full question

  33. Question 33 · Marketing management · 1 marks

    Toyota South Africa's marketing team is developing a new, affordable electric two-seater vehicle. The idea for the vehicle has already been developed and screened to assess its viability from both a marketing and a financial perspective, and unprofitable ideas have been eliminated. According to the new product development process, what should the next step be?Show the full question

  34. Question 34 · Marketing management · 1 marks

    Read the following extract taken from the business case 'Marketing management: Heineken and SABMiller's beer war' (Business Cases, 2nd edition): SABMiller has recently introduced a branded programme with new targets for 2020 to boost its sustainability efforts. The new scheme, called Prosper, includes plans to launch new marketing campaigns encouraging 'moderate and responsible' alcohol consumption, using more global and local communications aimed at positioning beer as the 'natural choice' for responsible drinkers. By acknowledging its responsibility towards consumers through encouraging moderate and responsible drinking, SABMiller is demonstrating which principle of the marketing concept?Show the full question

  35. Question 35 · Marketing management · 1 marks

    Continuing from the SABMiller Prosper scheme extract: the new scheme will include more global and local communications aimed at positioning beer as the 'natural choice' for responsible drinkers. This type of communication will form part of which variable of the marketing mix?Show the full question

  36. Question 36 · Marketing management · 1 marks

    SABMiller's new Prosper scheme includes new marketing campaigns as well as more global and local communications aimed at repositioning beer as a responsible drinking choice. If SABMiller decides to use a separate marketing strategy for each target market, which market-segmentation approach would they be using?Show the full question

  37. Question 37 · Marketing management · 1 marks

    By encouraging moderate and responsible alcohol consumption, SABMiller can potentially segment consumers based on their usage rate of beer. Which type of consumer segmentation includes usage rate as a segmentation criterion?Show the full question

  38. Question 38 · Marketing management · 1 marks

    Tshilidzi, a recreational DJ who enjoys creating his own unique sounds, is currently shopping for a new sound system and has researched extensively which system to acquire. The Bang & Olufsen music system he has chosen is not currently available in South Africa, but at his insistence the store has special-ordered it for him. As which type of product would the Bang & Olufsen system be classified?Show the full question

  39. Question 39 · Marketing management · 1 marks

    When choosing the packaging design of a product, the label must be carefully considered, since it differentiates the product from other similar products. This differentiation is especially important under which circumstance?Show the full question

  40. Question 40 · Marketing management · 1 marks

    CelluX, a cellphone provider, has launched a new television advertisement depicting a cheeky seven-year-old and her loving reaction to her parents when she is presented with a new iPhone. This kind of emotional appeal is often the most important way of differentiating a product from competitors in a highly competitive market. During which phase of the integrated marketing strategy would this type of marketing communication decision be most appropriate?Show the full question

  41. Question 41 · Marketing management · 1 marks

    Medicine is distributed through pharmacies and chemists because these outlets are considered the ideal shops to distribute it efficiently. What type of distribution does this represent?Show the full question

  42. Question 42 · Marketing management · 1 marks

    Ling is the customer service manager at Sakuro, a new departmental store that stocks Japanese products. Since customer service is central to the Japanese way of doing business, Ling is responsible for ensuring that the five basic needs of customers are met through Sakuro's service offering. Which one of these aspects links most closely with the prices being charged at Sakuro?Show the full question

  43. Question 43 · Financial management · 1 marks

    For this section on financial management, discounting factor tables for present and future values at 5%, 10% and 15% over periods 1 to 6 are supplied for use where needed. An extract from the business case 'Financial management: IBM' (Business Cases, 2nd edition) notes that for 2009 and 2008 the gross profit margins were 45,72% and 44,06% respectively, and that both the net profit margin and the gross profit margin showed stronger financial positions for IBM from 2008 until 2010. Based on this extract, which one of the following equations would IBM have used to calculate its gross profit margins?Show the full question

  44. Question 44 · Financial management · 1 marks

    Continuing with the IBM extract on gross profit margins, by examining IBM's gross profit margin one would be able to determine ____.Show the full question

  45. Question 45 · Financial management · 1 marks

    Still referring to IBM's gross profit margin calculations, when working out the gross profit margin, IBM should aim to achieve the ____ gross profit margin.Show the full question

  46. Question 46 · Financial management · 1 marks

    If IBM wanted to improve its gross profit margin, which one of the following strategies would be the most appropriate? IBM would have to ____.Show the full question

  47. Question 47 · Financial management · 1 marks

    The formula for calculating the future value of an original investment is FV^n = PV(1 + i)^n. In this formula, i represents ____.Show the full question

  48. Question 48 · Financial management · 1 marks

    Financial ratios on their own have little, if any, use value and must be viewed against certain norms to become meaningful. Which one of the following represents a comparison that is significant in this regard?Show the full question

  49. Question 49 · Financial management · 1 marks

    Mohammad owns a gourmet ice-cream shop in Durban. For the 2018 December holidays he has designed a brand-new marketing and promotion campaign. Which budget would Mohammad use to measure the marketing and sales effectiveness of his December campaign?Show the full question

  50. Question 50 · Financial management · 1 marks

    Mohammad is busy preparing his ice-cream shop for the upcoming 2018 December holiday period. He is currently reviewing his financial statements for the past six months and has noticed that the majority of his sales are cash-based. Which one of the following would be a cost of holding little or no cash for Mohammad?Show the full question

  51. Question 51 · Financial management · 1 marks

    While preparing for the busy holiday season, Mohammad notices that his biggest competitor, SoftServe, has gone out of business and is selling its ice-cream machine at a very good price during its liquidation sale. Because Mohammad has set aside extra cash, he is able to take advantage of this opportunity. Which one of the following represents Mohammad's reason for keeping cash available in this scenario?Show the full question

  52. Question 52 · Financial management · 1 marks

    Sarah decides to invest R100 000 into an account for the future expansion of her perfume shop. What is the future value of this amount if she invests it for three years at an interest rate of 5% per annum?Show the full question

  53. Question 53 · Financial management · 1 marks

    The following information is supplied for Hetisani Ltd for the month of October 2018: fixed assets amount to R1 000 000; current assets consist of cash of R80 000, marketable securities of R100 000, inventory of R500 000 and debtors of R300 000; shareholders' capital is R700 000; long-term debt is R250 000; and current liabilities amount to R300 000. What would the acid-test ratio for Hetisani Ltd be?Show the full question

  54. Question 54 · Financial management · 1 marks

    Gunn&Moore manufactures cricket bats at one of its plants. The fixed cost amounts to R1 600 000 per annum. The bats are sold at R400 each and the variable cost per unit amounts to R150. What is the break-even point of this plant, expressed in units?Show the full question

  55. Question 55 · Financial management · 1 marks

    Calculate the total present value of the following cash flow amounts, each received at the end of the respective year, using an interest rate of 10% and rounding your answer up to the nearest Rand: Year 1 cash flow of R3 000; Year 2 cash flow of R2 000; Year 3 cash flow of R5 000.Show the full question

  56. Question 56 · Financial management · 1 marks

    Which one of the following is a characteristic of ordinary shares?Show the full question

  57. Question 57 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Several worldwide recalls have shown that Toyota rushed into relationships with suppliers who were not adequately vetted, making supplier alliances and supplier development crucial issues to address. At which level of purchasing and supply planning would supplier alliance and supplier development take place?Show the full question

  58. Question 58 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Suppose Toyota adopts a new purchasing and supply objective of actively seeking out or developing new suppliers. Which of the following would be a suitable business objective for Toyota to pursue in support of this purchasing and supply objective?Show the full question

  59. Question 59 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Because Toyota is actively pursuing cost leadership, it would benefit from standardisation, which offers significant cost-saving advantages. Given this emphasis on standardisation, which purchasing and supply structure would be the most appropriate for Toyota to adopt?Show the full question

  60. Question 60 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Given Toyota's current difficulties with its suppliers, it might seem sensible to hold more inventory on hand to prevent stock-outs. However, holding too much inventory also has drawbacks. Which of the following is a disadvantage of keeping too much inventory?Show the full question

  61. Question 61 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Because executing a cost-leadership strategy over the past few years has led Toyota into relationships with suppliers it did not adequately vet, supplier selection must be treated as an ongoing process applied with discretion to prevent recalls. Once a supplier has been chosen, its performance must be continuously and objectively evaluated. Why is the objective evaluation of supplier performance important?Show the full question

  62. Question 62 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Kgaugelo runs an organic food store in Newlands. None of his produce is pre-packaged, and customers are expected to bring their own containers. Because prices are based on the weight of produce a customer selects, the quantities purchased vary considerably. To help control inventory, Kgaugelo and his staff perform stocktaking at the end of every week for each product in the store, and order quantities are then adjusted to match what is available. Which inventory-control system would be most suitable for this scenario?Show the full question

  63. Question 63 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Organisations maintain relationships with suppliers of varying nature, and an alliance or partnership represents a high-involvement relationship. Which of the following would be an attribute of strategic-supplier alliances?Show the full question

  64. Question 64 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Gabi, regarded as one of the best rehabilitation physiotherapists in South Africa, dreams of building a state-of-the-art rehabilitation centre for victims of motor vehicle accidents. The first step is to determine the construction price she will need for the centre. The centre will be custom-built to Gabi's exact specifications and, although it will carry a high monetary value, there is ample time available for the process to be completed. Gabi has already identified several suppliers in the market who are in serious competition with one another, and she intends to issue a request only to those suppliers she has identified. Which price determination process should Gabi use for her rehabilitation centre?Show the full question

  65. Question 65 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. The timing of purchases often determines the price paid for materials. The purpose of buying at the right time is to do which of the following?Show the full question

  66. Question 66 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. When the supply market takes the form of a monopoly or an oligopoly, negotiation needs to occur at a high level. This requirement influences which level of the purchasing and supply function within the organisational structure?Show the full question

  67. Question 67 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. During the first step of the purchasing process, the need for materials is communicated by means of which document?Show the full question

  68. Question 68 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. If a company evaluates the effectiveness of its purchasing and supply activities by counting the number of rejected orders, on what basis is it assessing those activities?Show the full question

  69. Question 69 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Engineer & Design has been contracted to prepare engineering drawings for the new rotor-motor engine that Yanmar Electronics will supply to Seascape Boats. The engine will be used exclusively in Seascape Boats' new range of luxury catamarans. The engineering drawings represent which form of quality management?Show the full question

  70. Question 70 · Purchasing and supply management · 1 marks

    Questions 57 to 61 relate to an extract taken from the business case 'Purchasing and supply chain management: Toyota' (Business Cases, 2nd edition). The extract explains that Toyota gradually moved away from the principles of lean manufacturing. Its pursuit of cost leadership and market leadership went too far, blurring the differentiation that used to come from quality, reliability and fuel efficiency. Executing this cost-leadership strategy over the past few years has pushed Toyota into relationships with suppliers that were not properly vetted, and questionable security measures were applied as parts were sourced from suppliers all over the world. Which type of cost includes the cost of storage, the salaries of warehouse staff, and wear and tear?Show the full question

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