Chapter 9

Question 1

Production

Answer 1

The creation of finished goods and services using the factors of production: Land, Labor, Capital, Entrepreneurship, and Knowledge.

Question 2

Computer-Aided Design (CAD)

Answer 2

The use of computers in the design of products.

Question 2

Operations management

Answer 2

A specialized area in management that converts or transform resources (Including human resources) into goods and services.

Question 3

Form Utility

Answer 3

The value that producers add to materials in the creation of finished goods and services.

Question 4

Computer-Aided Manufacturing

Answer 4

The use of computers in the actual manufacturing of products.

Question 5

Robotics

Answer 5

Technology

Question 5

Purchasing

Answer 5

The function in a firm that searches for quality material resources, finds the best suppliers, and negotations the best price for goods and services.

Question 6

Just-In-Time Inventory Control

Answer 6

A production process in which a minimum of inventory is kept on the premises and parts, supplies, and other needs are delivered just in time to go on the aseembly line.

Question 7

Quality

Answer 7

Consistently producing what the customer wants while reducing errors before and after delivery to the customer.

Question 8

Six-Sigma Quality

Answer 8

An extremely high level of quality measure that allows only 3.4 defects per million opportunities.