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1. Define PROCESS APPROACH for businesses?

In order to achieve the main objective of the company, the managers should think the business as a set of processes which integrate to achieve the goal, and not as individual departments, and should act to achieve the main goal and not individual goal. Process owners are responsible for ensuring that the business process meets its objective.

2. What do you understand by the term SILO THINKING?

An information silo is a management system incapable of reciprocal operation with other, related management systems. A bank's management system, for example, is considered a silo if it cannot exchange information with other related systems within its own organization, or with the management systems of its customers, vendors, or business partners. The expression is typically applied to management systems where the focus is inward and information communication is vertical.

3. Describe PORTAR VALUE CHAIN?

Porter argues that the ability to perform particular activities and to manage the linkages between these activities is a source of competitive advantage. Porter distinguishes between primary activities and support activities. Primary activities are directly concerned with the creation or delivery of a product or service. They can be grouped into five main areas: inbound logistics, operations, outbound logistics, marketing and sales, and service. Each of these primary activities is linked to support activities which help to improve their effectiveness or efficiency. There are four main areas of support activities: procurement, technology development (including R&D), human resource management, and infrastructure (systems for planning, finance, quality, information management etc.)

4. What is BASIC UTILITY of a product?

An economic term referring to the base satisfaction received from consuming a good or service.

5. What is augmented AUGMENTED UTILITY of a product?

Augmented means added to or made greater in amount or number or strength. So augmented utility means having additional features which increases its utility.eg-need of a shirt is a utility but the shirt should be comfortable is an augmented utility.

6. How do we identify VALUE ADDING ACTIVITIES in a value chain?

That generates a positive return on the investment of resources and cannot be eliminated without impairing a process. Activities which are directly contributing in change of product shape or value in a process

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7. How we can define NON VALUE ADDING ACTIVITIES?

Activities that do not contribute to the product or the process and should therefore be eliminated. Non-value added steps are waste.

8. Define VALUE ENABLING ACTIVITIES?

Activities or processes that do not, in themselves, meet the criteria of value adding activities, but which must be performed in order to make it possible to perform value adding activities.

9. What is PERCEIVED PRICE?

How much a customer thinks that a product should cost them? These perceptions may or may not accurately reflect reality.

10. Describe ALIGNMENT.

It is the ability to have common and shared interests across the supply chain including vendors and customers.

11. What is LOST SALE for a supply chain?

Sales you have lost because an item was out of stock or because you do not carry a particular brand or line of merchandise. The customer is keen to buy the product.

12. Explain BULL WHIP EFFECT.

The bullwhip effect occurs when the demand order variability in the supply chain are amplified as they moved up the supply chain. Moving up the supply chain from end-consumer to raw materials supplier, each supply chain participant has greater observed variation in demand and thus greater need for safety stock. The effect is that variations are amplified as one move upstream in the supply chain (further from the customer).

13. What is SUPPLY CHAIN PROFITABILITY?

Percentage of profit that a supply chain collectively creates is called as supply chain profitability.

14. Define VALUE OF A SUPPLY CHAIN.

A value chain is a chain of activities for a firm operating in a specific industry. The business unit is the appropriate level for construction of a value chain, not the divisional level or corporate

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level. Products pass through all activities of the chain in order, and at each activity the product gains some value. The chain of activities gives the products more added value than the sum of the independent activity's value. It is important not to mix the concept of the value chain with the costs occurring throughout the activities. A diamond cutter, as a profession, can be used to illustrate the difference of cost and the value chain. The cutting activity may have a low cost, but the activity adds much of the value to the end product, since a rough diamond is significantly less valuable than a cut diamond.

15. How should we measure CONCEIVED VALUE?

Value of the product after it has been used by the customer is the conceived value of the product. Conceived value should also be increased.

16. Define Efficiency, Effectiveness and flexibility? EFFICIENCY

Organizational efficiency is defined as an internal standard of performance and is approximately a construct for doing the things right. From resource dependence perspective efficiency is an independent measure for evaluating organizational productivity.

EFFECTIVENESS
Organizational effectiveness is defined as an external standard of how well an organization is meeting the demands of the various groups and organizations that are concerned with its Activities which approximately is a construct for doing the right things or having validity of outcome.

FLEXIBILITY
The ability to respond more quickly to demand and opportunities, flexible- supply chains that can deal with the changes and preferably in a better way than their rivals. In doing so, a competitive advantage can be achieved.

17. Define LOGISTICS?

Logistics is the management of the flow of goods between the point of origin and the point of use in order to meet the requirements of customers or corporations. Logistics involves the integration of information, transportation, inventory, warehousing, material handling, and packaging, and often security. Logistics is a channel of the supply chain which adds the value of time and place utility.

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18. Define SUPPLY CHAIN?

A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to the end customer.

19. Briefly define OPPORTUNITY COST.

Opportunity cost is the cost of any activity measured in terms of the value of the best alternative that is not chosen (that is foregone). It is the sacrifice related to the second best choice available to someone. The opportunity cost is also the cost of the forgone products after making a choice.

20. When can say that a organization or process is STRATEGIC FIT?

It is when strength is capable to take advantage of opportunities. Strategic fit express the degree to which an organization is matching its resources and capabilities with the opportunities in the environment.

21. What is competition, competency, core competency ? COMPETITION

Competition is a contest between individuals, groups, etc. for territory, a niche, or a location of resources. It arises whenever two or more parties strive for a goal which cannot be shared. Competition is usually for an advantage.

COMPETENCY
It is the ability or skill that will help the competitors to get advantage in competition.

CORE COMPETENCY
Core competencies are particular strengths relative to other organizations in the industry which provide the fundamental basis for the provision of added value.

22. Describe the situation of HYPER COMPETITIVE MARKET?

A situation in which there is a lot of very strong competition between companies, markets are changing very quickly, and it is easy to enter a new market, so that it is not possible for one company to keep a competitive advantage for a long time.

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23. Explain VENDOR MANAGED INVENTORY.

Vendor Managed Inventory simply means the vendor (the Manufacturer) manages the inventory of the distributor. The manufacturer receives electronic messages, usually via EDI, from the distributor. These messages tell the manufacturer various bits of information such as what the distributor has sold and what they have currently in inventory. The manufacturer reviews this information and decides when it is appropriate to generate a Purchase Order.

24. What is LEAD TIME for a supply chain?

The amount of time that elapses between when a process starts and when it is completed. Lead time is examined closely in manufacturing, supply chain management and project management, as companies want to reduce the amount of time it takes to deliver products to the market.

25. Define BEST PRACTICES?

A best practice is a technique or methodology that, through experience and research, has proven to reliably lead to a desired result. A commitment to using the best practices in any field is a commitment to using all the knowledge and technology at one's disposal to ensure success.

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CAREER AWARENESS SURVEY

1. Which discipline you belong to? Science Commerce

Arts

Engineering Others (Pl. Specify) ______________ 2. Have you ever been counseled for your Career? YES[ ] NO [ ] 3. Interested in attending counseling session by experts? YES[ ] NO [ ] 4. What career avenues are you interested in? a. SSC b. CAT (MBA) / GMAT c. BANK PO d. UPSC CSAT (Civil Service Aptitude Test) 5. How do you rate yourself in Aptitude Test? Poor Average Very Good Good

6. Rate yourself on scale of 1-5 in following areas; 1 being poor and 5 being Very Good: Quantitative Aptitude Data Interpretation Verbal Reasoning Reading Comprehension 7. Tick your preparation Option a. Exams SSS CAT GMAT BANK PO CSAT b. Coaching Format i. One Year Coaching ii. Two Year Coaching iii. Monthly Coaching iv. Crash Course v. Customized for your requirement Data Sufficiency

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