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MGMT 120 > Exam 1 - Preview Quiz Qs > Flashcards

Exam 1 - Preview Quiz Qs Flashcards

1
Q

What is the fundamental purpose of any operation?

A

to produce outputs more valuable than inputs consumed

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2
Q

According to the text, high productivity does not necessarily indicate a well-managed operation. Successful value creation also depends on the _______ of that operation.

A

Sustainability

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3
Q

As noted in your text, what does it mean when an operation is “lean”?

A

that is operates without waste

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4
Q

When organizations collect data and analyze it in order to redesign processes and improve efficiency, they are using a methodology called _______.

A

scientific management

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5
Q

The rapid removal of 228 million eggs from U.S. supermarkets in 2010 due to salmonella is an example of _______ management.

A

incident

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6
Q

How do tactical decisions differ from strategic decisions?

A

Tactical decisions rarely address planning horizons longer than a single year.

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7
Q

Anyone called _______ in combination with another term is usually dedicated to an aspect of operations management.

A

a manager or a planner

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8
Q

The concept of _____ emerged when companies began exploring sourcing opportunities in all parts of the world and began to specialize in moving goods between distant supply chain partners.

A

third-party logistics

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9
Q

What issue can arise when large corporations organize and evaluate themselves according to their output?

A

They fail to look at the company’s core competency, which is critical to its long-term success.

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10
Q

According to the text, organizations that choose to compete through responsiveness must cultivate _______ within their operations, because they cannot know in advance precisely what will be required of them.

A

flexibility

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11
Q

What are the minimum standards that an organization must achieve to simply be considered by the customer?

A

Order qualifiers

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12
Q

Retailers like Walmart build multiple stores and focus on sales through in-person shopping, while retailers such as Amazon focus on making the same goods available through online shopping and parcel shipments. This is an example of _______.

A

Process selection

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13
Q

A _______ system produces high volumes of standardized product.

A

Make-to-stock

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14
Q

A useful framework describing different kinds of production systems and processes is

A

the product process matrix

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15
Q

At what point is a product said to be in the maturity phase of the product life cycle?

A

when providers of the product saturate the market and demand levels off

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16
Q

Which ratio combines the value of all outputs to the combined value of all inputs of an operation?

A

total productivity measure

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17
Q

Because _______ addresses the complete, long-term costs of any operation, it might be thought of as the only true total productivity measure.

A

sustainability

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18
Q

When a product meets the producer’s design specifications, the product can be said to have a satisfactory level of which dimension of product quality?

A

conformance

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19
Q

The degree to which the output of an operation meets the customer’s expectations is referred to as quality of ______.

A

design

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20
Q

The simultaneous and continuous pursuit of improvement in both the quality of design and conformance through the involvement of the entire organization is referred to as ______.

A

total quality management

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21
Q

Companies such as Motorola and Toyota have made significant contributions to improving quality in productive systems with their introduction and promotion of concepts such as:

A

Lean and Six Sigma

22
Q

Leonard is the production manager at a food processing plant. Part of his job is to ensure that all food used by the plant in the manufacturing of its products is of the highest quality. As such, Leonard has the authority to refuse any shipment from a supplier that he feels is below his company’s standards. This is an example of ______.

A

Employee empowerment

23
Q

A company is experiencing continual delays in the shipment of its products to its customers. A Pareto analysis reveals that there are eight factors causing the delays, but of these eight, there are three factors that account for the majority of the delays. According to Vifredo Pareto, these three factors would be referred to as ______.

A

the critical few

24
Q

The closer to -1 or 1 a correlation coefficient is, indicates a more _____ relationship.

A

linear

25
Q

A fish-bone diagram is also called:

A

A cause-effect diagram

26
Q

Which certification of quality management was is best known as an international standard?

A

ISO 9000

27
Q

Integration of a product’s design and process development phases to enhance manufacturability is referred to as ______ engineering.

A

concurrent

28
Q

What does qualitative forecasting rely upon to develop predictions?

A

intuition

29
Q

James is conducting a study to determine if student grade point average (GPA) is impacted by involvement in a school sport. In his study, GPA is the dependent variable. T/F

A

True

30
Q

Causal models are used to predict a value based on ______.

A

identifying important links between the outcome and other factors in its environment

31
Q

Mean error is an excellent measure of _____.

A

forecast bias

32
Q

____ analysis uses mathematical relationships between two or more variables to predict future values.

A

Regression

33
Q

Time series techniques focus on the historical behavior of some outcome of interest to predict its future behavior. T/F

A

True

34
Q

In a time series, what is a Black Swan?

A

a particularly high-impact incident of extreme consequence that is unexpected or considered highly improbable

35
Q

A _____ moving average gives each period within the span of past data the same weight in creating a forecast.

A

simple

36
Q

Which time series technique predicts a future value by combining the previous prediction and some portion of the error in that prediction?

A

simple exponential smoothing

37
Q

Forecasting techniques are used for the sole purpose of forecasting the future.

A

False

38
Q

Chicago’s new city buses are intended to hold 60 people. This is a measurement of the ________ of the buses.

A

design capacity

39
Q

For output volume, any increase to output level decreases average cost by spreading the fixed cost further. This is known as ________.

A

economies of scale

40
Q

The break-even point is the level of production at which ________.

A

total revenue and cost are balanced

41
Q

Kee’s Bridal Fashions generally orders more dresses than it thinks it will sell so that it can handle an unexpected large volume of business, should it occur. This is an example of ________.

A

capacity cushion

42
Q

The first major component of any waiting line is ________.

A

the source of arrivals

43
Q

When a line contains enough customers that the customer arrival rate and the number of customers in the system function independently, the line is most likely supplied by a finite calling population. T/F

A

False

44
Q

Stephanie really wanted a frozen yogurt, but after waiting in line for 10 minutes she decided she didn’t want it that badly and walked away. This type of impatient behavior is known as ________.

A

Reneging

45
Q

Most of the time, the length of a queue has no technical limitations. T/F

A

True

46
Q

Queue ________ specifies the order in which waiting arrivals are served.

A

discipline

47
Q

In the M/M/1 model, ________ represents the average number of services that can be completed in a designated time interval.

A

μ

48
Q

What performance measure consists of the literal difference in value between outputs and inputs?

A

value-added

49
Q

Products recognized by customers as physical objects, including grocery items, personal electronics, and clothing, are broadly referred to as _______.

A

goods

50
Q

A system consisting of all organizations that play some role in supplying a particular product to a customer is called the _______.

A

supply chain

MGMT 120 (2 decks)

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