Value-Stream Mapping

question 110

Multiple Choice

Value-stream mapping:

• A)is a variation of time-function mapping.
• B)examines the supply chain to determine where value is added.
• C)extends time function mapping back to the supplier.
• D)starts with the customer and works backwards.
• E)All of the above are true.

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Definitions:

Time Utility

The value added to products or services by making them available at a time convenient for consumers, enhancing customer satisfaction.

Place Utility

The value added to products or services by having them available at a convenient place for consumers.

Orbitz

An online travel agency that allows consumers to book flights, hotels, car rentals, and other travel-related activities.