Production & Operations Management

Question 1

Production and Operations Management

Answer 1

Overseeing all the activities involved in producing goods and services

Question 2

Productivity

Answer 2

The efficiency with which an organization can convert inputs to outputs

Question 3

Lean Systems

Answer 3

Systems that maximize productivity by reducing waste and delays

Question 4

Just-in-Time (JIT)

Answer 4

Inventory management in which goods and materials are delivered throughout the production process right before they are needed

Question 5

Mass Production

Answer 5

The creation of identical goods or services, usually in large quanitites

Question 6

Customized Production

Answer 6

The creation of a unique good or service for each customer

Question 7

Mass Customization

Answer 7

A manufacturing approach in which part of the product is mass produced and the remaining features are customized for each buyer

Question 8

Capacity Planning

Answer 8

Establishing the overall level of resources needed to meet customer demanad

Question 9

Scheduling (Supply Chain)

Answer 9

Determining how long each operation takes and deciding which tasks are done in which order

Question 10

Critical Path

Answer 10

In a Pert network diagram, the sequence of operations that requires the longest time to complete

Question 11

PERT Network Diagram

Answer 11

Program Evaluation and Review Technique that helps managers identify the optimal sequencing of activities, the expected time for project completion, and the best use of resources