B1 - Operations Mgmt: Perf Mgmt and Impact of Measures of Behavior

Question 1

What is transaction marketing?

Answer 1

Customers are attracted for the sake of a SINGLE SALE, and are going only based on price.

Question 2

What is a control chart?

Answer 2

Helps determine “zero” defects. Used to plot a comparison of actual results to an acceptable range. Main emphasis on “GOALPOST” conformance.

Question 3

What is a fishbone diagram?

Answer 3

This describes a process, the contributions to that process, and the problems that could potentially happen at each phase of the process.

Question 4

Total Factor Productivity (TFP)

Answer 4

Output/Total Costs (material AND labor costs)

Question 5

Partial Productivity Ratios (PPRs)

Answer 5

Output/Specific Quantity (material OR labor quantity)

Question 6

How are Pareto Diagrams (Histograms) used?

Answer 6

They are used to determine the quality-control issues that are MOST FREQUENT and often demand the greatest attention.