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Mngt 331 Dsm14

In: Business and Management

Submitted By lynnradium
Words 3064
Pages 13
1. The transfer of some of what are traditional internal activities and resources of a firm to outside vendors is __________.
Outsourcing
The transfer of some of what are traditional internal activities and resources of a firm to outside vendors is outsourcing. Outsourcing is the term used to describe the decision to move any aspect of a firm's operation to an outside vendor. This is frequently done by businesses that want to focus on areas of the business directly tied to their central operation and competitive advantage. Any task that falls outside of central operations can be outsourced.
Make-or-buy decisions are focused on helping a business understand whether it is more advantageous to buy a particular part or product from an outside vendor or to produce the part themselves. Keiretsu is a type of supply-chain strategy that focuses on integrating the two strategies of building relationships with a few suppliers and vertical integration. As with traditional make-or-buy decisions, Keiretsu does include purchasing goods from suppliers. However, make-or-buy decisions and Keiretsu would not typically be considered a type of outsourcing.

2. Keeping a product generic as long as possible before customizing is known as __________. postponement Keeping a product generic as long as possible before customizing is known as postponement. This process is very useful when making somewhat generic products (like computers, printers, televisions, etc.). While the external features of these devices will be different, the primary mechanisms that make each device function are similar. Thus, it makes sense for a company to postpone putting the external elements on a computer or television until farther along in the production cycle so that a business can more easily meet customer expectations.
Forward and Backward integration are two types of vertical integration. Forward…...

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