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Covers the principles and practices of designing, and controlling the production and delivery of services efficiently and effectively to meet customer demands.
It deals precisely of why and how a company, government or an individual obtains capital or the money needed and how are they going to invest or spend it
Felicien grows mirlitons (that's Cajun for Chayote squash) in his 100 by 100 foot garden. He then sells the crop at the local farmers' market. Two summers ago, he was able to produce and sell 1200 pounds of mirlitons. Last summer, he tried a new fertilizer that promised a 50% increase in yield. He harvested 1900 pounds. Did the fertilizer live up to its promise?
The four criteria for short-term scheduling
One function of MRP is to take advantage of quantity discounts.
__ enables an organization to take various business decisions, such as planning the production process, purchasing raw materials, managing funds, and deciding the price of the product
Linear regression is known as aNo __ because it incorporates variables or factors that might influence the quantity being forecast.
When __, in addition to creativity and R&D investments, is critical to operations strategy, cost may cease to be the primary focus of location criteria
Which of the following is a function of inventory?
ABC analysis divides on-hand inventory into three classes, generally based upon
In trend projection, the trend component is the slope of the regression equation
One question that operations managers must ask when generating an aggregate plan is what factors are likely to influence demand and by how much.
Set of activities that a company take on in order to encourage the selling and buying of their products or services. It includes selling, advertisement and product’s delivery to consumers or other company
An example of an intangible cost, as it relates to location decisions, is the quality of education.
__ is a method for dividing on-hand inventory into three classifications based on annual dollar volume.
The quantity required of a dependent demand item is computed from the demand for the final products in which the item is used.
A master production schedule specifies
Demand for a given item is said to be dependent if
One reason to study operations management is to learn how people organize themselves for productive enterprise.
ANo __ is a JIT concept that results in material being produced only when requested and moved to where it is needed just as it is needed.
A office layout groups workers, their equipment, and spaces/offices to provide for comfort, safety, and movement of information
ANo __ addresses flow, allocates space, and responds to customer behavior
One essential ingredient of mass customization is modular design.
In aggregate planning, the amount of overtime and the size of the work force are both adjustable elements of capacity.
The work center master production schedule contains data such as capacity and efficiency
Aggregate planning in manufacturing ties organizational strategic goals to a production plan.
Quantitative techniques consist of data gathering from groups of experts, customer focus groups, research groups, think tanks, etc.
Causal forecasting adopts that demand is related to some underlying factor for factors in the environment.
A product strategy may focus on differentiation, high-cost, or rapid response.
The main issue in designing process layouts concerns the relative positioning of
The __ method is popular because a wide variety of factors, from education to recreation to labor skills, can be objectively included.
__ is the minimum inventory necessary to keep a perfect system running
Many suppliers feel that having a variety of customers is better than being tied to long-term contracts with one customer.
A bill of material lists all components, ingredients, and materials needed to produce one unit of an end item.
Lead times, inventory availability, and purchase orders outstanding are among the five things operations managers must know for effective use of Aggregate plan.
The forecasting model that pools the opinions of a group of experts or managers is known as the
All organizations, including service firms such as banks and hospitals, have a production function.
Capacity decisions are based on technological concerns.
Fixed layout processes items as they are received, rather than placing them in storage; this helps explain why "warehouses" are now called "distribution centers.".
In location decisions, intangible costs are easier to measure than tangible costs.
Which scheduling technique should be employed when due dates are important for a job order?
In order to have a career in operations management, one must have a degree in statistics or quantitative methods.
Political risk, cultural issues, and exchange rates are among those __ that affect which country will be selected for a location decision
Operations management is the set of activities that create value in the form of goods and services by transforming inputs into outputs
refers to the physical surrounding in which the service is delivered
Labor cost per unit is also referred to as __.
A location decision for an appliance manufacturer would tend to have aNo
Industrial location analysis typically attempts to
An example of a "hidden" production function is money transfers at banks.
Using Full Time worker is a capacity option that works especially well in the service sector where labor needs are relatively unskilled.
A six-month moving average forecast is better than a three-month moving average forecast if demand
__ is the time between placement and receipt of an order.
In ABC analysis, "B" Items are the most tightly controlled.
When making a location decision at the country level, which of these would be considered?
Forecasts of individual products tend to be more accurate than forecasts of product families.
a product-oriented production process that uses modules.
The __ technique may be applicable where a firm's parts and subassemblies are common to a variety of its products
When a tangible product is not included in a service, it is called a Pure Service.
ANo __ is a listing of the components, their description, and the quantity of each required to make one unit of a product
One reason for a firm locating near its competitors is the presence of a major resource it needs.
This includes looking for ways to implement consistency in costs, quality, and resources across all business divisions.
__ forecasts address the business cycle by predicting inflation rates, money supplies, housing starts, and other planning indicators
An operations manager is not likely to be involved in
For a given level of demand, annual holding cost is larger as the order quantity is __.
Waste is anything that does add value, such as storage or inspection of items; waste also includes any activity that does not add value from the consumer's perspective.
Products or services designed in easily segmented components are known as __.
Ethical and social dilemmas arise because stakeholders of a business have conflicting perspectives.
This model assumes that the demand in the next period and the demand in the most recent period is equal.
Effective capacity is the
The level scheduling strategy allows lower inventories than the pure chase strategy
Long Term Production Planning can help the management to organize for long-term finances on reasonable terms and conditions.
Intangible costs are readily identifiable and can be measured with precision.
In process-focused facilities, equipment utilization is low.
5. The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product.
Reducing distance is a common JIT goal
is typically characterized by a strong growth in sales and profits, and because the company can start to benefit from economies of scale in production, the profit margins, as well as the overall amount of profit, will increase.
The assignment method provides an optimum, one-to-one assignment of jobs to resources.
One limitation of the net present value approach to investments is that investments with identical net present values may have very different cash flows.
__is the set of activities that create value in the form of goods and services by transforming inputs into outputs
Unfavorable exchange rates can offset other savings in a location decision.
__ is a rapid, low-cost production process that caters to constantly changing unique customer desires
Dependent on expert or informed opinion about future product demands which is intuitive and based on subjective judgment.
The four phases of the product life cycle are introduction, growth, incubation and decline
__ determines the order in which jobs should be done at each work center.
ANo __ is a timetable that specifies what is to be made and when.
Retail inventory that is unaccounted for between receipt and time of sale is known as shrinkage.
A naïve forecast for September sales of a product would be equal to the forecast for August.
Changes in capacity may lead, lag, or straddle the demand.
Utilization is the number of units a facility can hold, receive, store, or produce in a period of time.
In the sequence of decisions that affect scheduling, __ is (are) the immediate follower of the master schedule (or master production schedule).
Budgeting, paying the bills, and collection of funds are activities associated with the
The typical full-service restaurant uses a product-focused process.
Location decisions are based on many things, including costs, revenues, incentives, attitudes, and intangibles, but not on ethical considerations.
__ is the amount a facility can hold, store, receive, or produce in a period of time.
manufacturing ties organizational strategic goals to a production plan
Price changes are useful for matching the level of demand to the capacity of a facility.
A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs
Operations management is applicable
Demand (sales) forecasts serve as inputs to financial, marketing, and personnel planning.
Job lots are groups or batches of parts processed together.
__ is a lot-sizing technique that generates exactly what was required to meet the plan
The benefits of effective scheduling include lower cost, faster delivery, and dependable delivery
A major challenge in inventory management is to maintain a balance between inventory investment and customer service.
Use market research to determine customer needs and batch quality assurance testing on products and services in production
Reasons to study Operations Management include
MRP is generally practiced on items with dependent demand.
Give (1) Quantitative Forecasting Technique
Productivity is more difficult to improve in the service sector.
One guideline for a fixed layout is to locate high-draw items around the periphery of the store.
__ inventory is material that is usually purchased, but has yet to enter the manufacturing process.
Determine the best strategies to streamline, be cost effective, and to develop trusted partners
The objective of layout strategy is to develop an effective and efficient layout that will meet the firm's competitive requirements.
Strategic planning occurs over the medium or intermediate future of 3 to 18 months.
Which time series model uses past forecasts and past demand data to generate a new forecast?
A Process chart shows the loading and idle time of several departments, machines, or facilities.
For which of the following operations would a fixed-position layout be most appropriate?
This shrinkage could be due to the market becoming saturated because the consumers are switching to a different type of product.
__ forecasts use a series of past data points to make a forecast.
__ is a process analysis technique that focuses on the customer and the producer's interaction with the customer.
Which of the following represents a common way to manage capacity in the service sector?
The main focus of JIT efforts to reduce investment in inventory requires __.
This is probably the most competitive time for most products and businesses need to invest wisely in any marketing they undertake.
What is sometimes referred to as rated capacity??
__ is that element of balancing a work cell that superficially resembles cycle time.
The priority rule that appears fair to customers in service systems is __.
__ is the Japanese word for card that has come to mean "signal
Which of the following is not one of the four main types of inventory?
Product storage is an example of waste, in the sense that no value is added.
Which of these factors would be considered when making a location decision at the region/community level?
__ is the total of all outputs produced by the transformation process divided by the total of the inputs
The typical time horizon for aggregate planning is
One criterion for developing effective schedules is minimizing completion task
In the Economic order quantity (EOQ) model, inventory does not arrive in a single moment but flows in at a steady rate.
Which of the following are the primary functions of all organizations?
__ is extra stock that is carried to serve as a buffer.
the movement of goods and services internally and to customers, and the role of marketing and public relations in the location choice.
Design strategies which support all production goals including technology and resources. A value stream map can help determine what processes are necessary and how to keep them running efficiently.
Service blueprint refers to the physical surrounding in which the service is delivered
__ is the creation of goods and services.
The technique known as level schedules
__ work with a few variables at a time and are easy to understand and use.
One goal of TPS partnerships is the removal of in-plant inventory by delivery in small lots directly to the using department as needed.
provide continuous training for employees, and institute employee satisfaction programs to achieve success in this area.
A dependent demand item is so called because its demand is dependent on customer preferences
The capacity planning strategy that delays adding capacity until capacity is below demand, then adds a capacity increment so that capacity is above demand, is said to__ demand
The 5S term __ includes analysis to improve workflow and reduce wasted motion.
This stage of the cycle could be the most expensive for a company launching a new product.
Which of the following is not present in a time series?
In time series, which of the following cannot be predicted
Which of the following is specifically characterized by a focus on continuous improvement, respect for people, and standard work practices?
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