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MGT 301 > FINAL > Flashcards

FINAL Flashcards

1
Q

Malcolm Baldrige National Quality Award

A

Established in 1988 by US gov’t because the global implications of quality are so important

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2
Q

ISO 9000

A

Encourages quality management procedures, detailed documentation, work instructions and record keeping
Procedures to manage quality
Emphasize top management leadership and customer requirements and satisfaction

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3
Q

Prevention

A

reducing the potential for defects

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4
Q

Appraisal

A

evaluating products, parts and services

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5
Q

Internal failure

A

producing defective parts or service before delivery to customers

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6
Q

External failure

A

defects discovered after delivery - hardest to evaluate, they occur after delivery

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7
Q

Plan-Do-Check-Act

A

Continuous improvement model of plan, do, check, act

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8
Q

Benchmarking

A

Selects a demonstrated standard of performance that represents the very best performance for a process or activity

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9
Q

Scatter diagrams

A

Show relationship between 2 measurements

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10
Q

Cause-and-effect diagrams / Ishikawa diagram/fish bone chart

A

schematic technique used to discover possible locations of quality problems

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11
Q

Pareto charts

A

Method of organizing errors problems or defects to help focus on problem solving efforts

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12
Q

Flowcharts

A

Graphically present a process or system using annotated boxes and interconnected lines

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13
Q

Histograms

A

Show a range of values of a measurement and the frequency with which each value occurs

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14
Q

Poke-yoke

A

Mistake proofing, device or technique that ensures the production of a good unit every time

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15
Q

Inspection

A

examining items to see if an item is good or defective

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16
Q

When and where to inspect

A

At your suppliers plant while the supplier is producing
At your facility upon receipt of goods from your supplier
Before costly or irreversible processes
During the step by step production process
When production or service is complete
Before delivery to your customer
At the point of customer contact

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17
Q

Process focus

A

low volume, high variety in job shops

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18
Q

Product focus

A

high volume, low variety — organized around products

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19
Q

Repetitive focus

A

classic assembly line, product oriented production process that uses modules

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20
Q

Mass customization

A

rapid low cost production of goods and services that fulfill increasingly unique customer desires

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21
Q

Outsourcing

A

Transfers some of what are traditional internal activities and resources of a firm to outside vendors

22
Q

Make-or-buy decision

A

Choice between producing a competent or service in house or purchasing it from an outside source

23
Q

job shop

A

Vast majority of global production devoted to making low volume high variety products

24
Q

Ergonomics

A

Study of the human interface with the environment and machines

25
Q

Supply chain

A

includes suppliers, manufacturers, and distributors who deliver the product or service to the final customer

26
Q

Vertical integration

A

Developing the ability to produce goods or services previously purchased or actually buying a supplier or a distributor

27
Q

Keiretsu networks

A

Suppliers who become part of a company coalition

28
Q

Bullwhip effect

A

The increasing fluctuation in orders that often occurs as orders move through the supply chain

29
Q

Vendor-managed inventory

A

The use of a local supplier to maintain inventory for the manufacturer or retailer

30
Q

Collaborative planning, forecast and replenishment (CPFR)

A

System in which members of a supply chain share information in a joint effort to reduce supply chain costs

31
Q

Blanket order

A

Long term purchase commitment to a supplier for items that are to be delivered against short term releases to ship

32
Q

Drop shipping

A

Supplier will ship directly to the end customer rather than the seller saving both time and reshipping costs

33
Q

Third-party logistics (3PL)

A

Used to describe the outsourcing of logistics used to meet 3 goals

34
Q

Reverse logistics

A

Process of sending returned products back up the supply chain for value recovery or disposal

35
Q

Raw material inventory

A

Materials that are usually purchased but have yet to enter the manufacturing process

36
Q

Work-in-process inventory

A

Products or components that are no longer raw materials but have yet to become finished products

37
Q

Finished-goods inventory

A

Completed product awaiting shipment

38
Q

MRO inventory (maintenance, repair & operating items)

A

Supplies necessary to keep machinery and processes productive

39
Q

ABC analysis

A

Method for dividing on hand inventory into 3 classifications based on annual dollar volume

40
Q

Cycle counting

A

A continuing reconciliation of inventory with inventory records

41
Q

Shrinkage

A

retail inventory that is unaccounted for between receipt and sale

42
Q

Pilferage

A

small amount of theft

43
Q

Holding costs (H or Ci)

A

Costs associated with holding or carrying inventory over time

44
Q

Ordering costs

A

Includes costs of supplies, forms, order processing, purchasing — cost of ordering process

45
Q

Setup cost (S)

A

Cost to prepare a machine or process for manufacturing an order

46
Q

Order quantity (Q)

A

Quantity that minimizes total costs

47
Q

Economic Order Quantity (EOQ)

A

Inventory control technique that minimizes the total of ordering and holding costs

48
Q

Lead time (L) or delivery time

A

Time between placement and receipt of an order

49
Q

Reorder point (ROP)

A

The inventory level (point) at which an order should be placed

50
Q

Safety stock

A

Extra stock to allow uneven demand, a buffer

MGT 301 (1 decks)

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