CTE 4605 Exam 1

CTE 4605 Exam 1 1. supply chain: the complex collaboration of suppliers, manufacturers, distributors, dealers, customers, and so on to ensure a seamless production and delivery of finished goods 2. global sourcing: what is included within the supply chain 3. led to manufacturing of standard sized uniforms: significance of the civil war in supply chain progress 4. timely and cost efficient: 2 goals of the supply chain 5. middle class, which came with disposable income and free time: what did a factory job lead to 6. 1913 allowed for continuous flow and specialization of labor reduced costs: ford assembly line 7. 1857 the first mail order catalog was created by...: montgomery Ward 8. what did the first mail order catalog provide?: money back guarantee utilized all transport methods 9. who is the father of the internet: Tim Burners-lee 10. what was the original purpose of the internet: military necessity and research institutions 11. 2 focuses of early internet shopping: availability and reliability (utilitarian not pleasurable) 12. what does a demand-driven supply chain look like: allows for lower inventory, less waste, and an increased ability to meet consumer demand 13. what does a forecast driven supply chain look like: looking at the past sales to determine direction for future sales 14. problems with forecast driven supply chain: less flexibility, harder to adjust to consumer demand, may end up with excess inventory because of inability to adjust based on consumer demand 15. what are amazon's core competencies?: sourcing distributing customer service 16. what makes amazon so successful?: their ability to leverage and control their supply chain for short lead times to allow for customer satisfaction the supply chain is their biggest competitive advantage 17. characteristics of multichannel: NOT very customer centric retailer engages consumer once consumer chooses a specific channel untargeted ads and marketing no common strategy between channels 18. characteristics of omnichannel: retailer reaches proactively to consumer re- gardless of what channel they choose message and branding are all coordinated target marketing 19. how long do consumers keep their clothing on average?: half as long as 15 years ago 20. characteristics of fast fashion: alternative sourcing >> nearshoring low price point, narrow production window, pushing for new trends and fashions 21. RTAA: when FDR made is possible for presidents to make trade agreements w/o congressional approval 22. MFA: quota on raw materials and finished goods 23. ATC: the reversal of the MFA/ the "phase out" thing. 900,000 jobs lost and they basically took away the quotas over a 10 year period 24. US Supply Chain PostWWII: manufacturing boom after WWII, peaked in 1978, then declined because gov't did not reinvest in manufacturing stopped vertically integrating >> started relying on cheaper labor 25. UK Supply Chain Post WWII: similar to US, set a national minimum wage 26. Japan Supply Chain Post WWII: devastated after WWII, rebuilt and gained investments changed political structure,