MIDTERMS (QUIZ) 1 Flashcards
Among Ford’s many contributions was the introduction of mass production, using the
concepts of interchangeable parts and division of labor.
(True or false)
True
Service operations require additional inventory because of the unpredictability of
consumer demand.
(True or False)
False (Service doesn’t need inventory)
Prior to the industrial revolution, goods were produced primarily by craftsmen or their apprentices using custom-made parts
(True or False)
True
Service can be stored and are not provided “on demand.”
(True or False)
False (Service cannot be stored)
A System approach emphasizes interrelationships among subsystems, but its main theme is that the whole is greater than the sum of its individual parts
(True or False)
True
Operation and sales are the two main functional areas that exist to support activities in other functions such as accounting, finance, IT and human resources.
(True or False)
False (Marketing, OM and Finance)
Service often requires relatively greater labor content when compared to manufacturing.
(True or False)
True
Companies are either producing goods or delivering services. this means that only one of the two types of OM strategies are used.
(True or False)
False (Most companies offer both goods and services, not just one.)
Assembly Line improved productivity by using interchangeable parts and craft production
(True or False)
False (Assembly lines improved productivity by replacing craft production, not combining with it.)
“Value added” by definition is always a positive number since “added” implies increases.
(True or False)
False (not always positive)
Budgeting, analysis of investment proposal and provisions of funds are activities associated with what function inside the organization?
Finance
it consist of one or more actions that transforms input to output
Process
An approach to decision-making that frequently seeks to obtain a mathematically optimal solution commonly supported by computer calculations
Quantitative Approaches
it is considered the key resource inside the organization that needs to be properly motivated. (amongst the four M’s)
Manpower
The difference between the cost of inputs and the value or price of outputs
Value Added
These are the core processes that make up the Value stream
Operational processes
this concept is appropriately applied to all areas and levels of management, emphasizing that the critical few factors should receive the highest priority.
Pareto Phenomenon
One of the core Japanese principle emphasizes producing only what’s needed when its needed to reduce waste and increase efficiency.
Just in time
the goal in business aims to send resources in ways that do not harm ecological systems that support human existence.
Sustainability
What do you call the system in which highly skilled workers use simple, flexible tools to produce small quantities of customized goods widely used before the industrial revolution?
Craft Production
it is essential to consider with respect to managing a process to meet demand.
Capacity
it tend to increase the importance of supply chain management
Increased globalization
Designing a product and process selection are examples of?
System design decision
two main used metric variation are the?
mean and standard deviation
Which is not an area of significant difference between manufacturing and service
operations?
Forecasting demand
