Question 1

The just-in-time inventory system classifies inventory into three categories based on value.

Accepted Answer

A) True 
 B)False

Question 2

Match the term with its definition. Some terms may not be used.
-A list of critical factors that provides a helpful starting place when assessing a supplier's performance

Accepted Answer

A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing 
A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing

Question 3

Match the term with its definition. Some terms may not be used.
-Manufacturing operations designed for long production runs of high-volume, standardized products

Accepted Answer

A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing 
A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing

Question 4

Which item is a tangible output for a bed and breakfast inn guest?

Accepted Answer

A)  Questions answered about local attractions 
B)  Full breakfast in the morning 
C)  Use of a Room 
D)  Two of the above tangible outputs. 
A)  Questions answered about local attractions 
B)  Full breakfast in the morning 
C)  Use of a Room 
D)  Two of the above tangible outputs.

Question 5

The inventory control method that uses a targeted service level allowing for the variability of supply and demand is

Accepted Answer

A)  ABC method. 
B)  economic order quantity. 
C)  just-in-time inventory system. 
D)  statistical inventory control. 
A)  ABC method. 
B)  economic order quantity. 
C)  just-in-time inventory system. 
D)  statistical inventory control.

Question 6

Cooperative purchasing organizations are firms that specialize in the purchasing function and provide this service to small businesses.

Accepted Answer

A) True 
 B)False

Question 7

In his retail store, Jose's point-of-sale software relieves inventory for each item purchased. At any time, Jose can look at the inventory records on his computer and know exactly how many of each item are in stock. This type of inventory system is called:

Accepted Answer

A)  cycle counting. 
B)  perpetual. 
C)  physical. 
D)  two-bin. 
A)  cycle counting. 
B)  perpetual. 
C)  physical. 
D)  two-bin.

Question 8

Match the term with its definition. Some terms may not be used.
-A method that provides for periodic counting of items in inventory

Accepted Answer

A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system 
A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system

Question 9

Match the term with its definition. Some terms may not be used.
-An organization in which small businesses combine their demand for products or services in order to negotiate as a group with suppliers

Accepted Answer

A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system 
A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system

Question 10

After describing common inventory record-keeping systems, what are guidelines for their use?

Accepted Answer

*A physical inventory system takes an ac

Question 11

Because close interactions with customers allow employees to better understand them, management should be sent in the field periodically.

Accepted Answer

A) True 
 B)False

Question 12

Cooperative purchasing organizations for small businesses are more successful now because of the:

Accepted Answer

A)  acceptance of coops as a business model by suppliers. 
B)  diversification of numerous global suppliers. 
C)  increased use of the Internet to locate more suppliers. 
D)  use of crowdsourcing to locate new suppliers. 
A)  acceptance of coops as a business model by suppliers. 
B)  diversification of numerous global suppliers. 
C)  increased use of the Internet to locate more suppliers. 
D)  use of crowdsourcing to locate new suppliers.

Question 13

Match the term with its definition. Some terms may not be used.
-Forecasting that considers a variety of variables to determine expected sales

Accepted Answer

A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system 
A) ABC method 
B) Associative forecasting 
C) Cooperative purchasing organization 
D) Cycle counting 
E) Demand management strategies
F)Economic order quantity
G)Just-in-time inventory system
H)Perpetual inventory system
I)Physical inventory system
J)Poka-yoke
K)Statistical inventory control
L)Two-bin inventory system

Question 14

Twice a year the entire production line shuts down and a complete count is taken of every inventory item. This inventory system is called:

Accepted Answer

A)  cycle counting. 
B)  perpetual inventory. 
C)  physical inventory. 
D)  two-bin inventory. 
A)  cycle counting. 
B)  perpetual inventory. 
C)  physical inventory. 
D)  two-bin inventory.

Question 15

Match the term with its definition. Some terms may not be used.
-Manufacturing operations designed for short production runs of small quantities of items

Accepted Answer

A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing 
A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing

Question 16

When Kentucky Chocolates mixes ingredients for their candies, this act is part of operations.

Accepted Answer

A) True 
 B)False

Question 17

Match the term with its definition. Some terms may not be used.
-Manufacturing operations used to create unique but similar products

Accepted Answer

A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing 
A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing

Question 18

Kaoru Ishikawa contends that 85% of the typical company's quality problems can be solved by using "The Basic Seven" quality tools.

Accepted Answer

A) True 
 B)False

Question 19

In March, chassis prep counts its inventory. In June, the cabinet shop does the same thing. In September, appliances counts its inventory. This inventory system is known as:

Accepted Answer

A)  cycle counting. 
B)  perpetual. 
C)  physical. 
D)  two-bin. 
A)  cycle counting. 
B)  perpetual. 
C)  physical. 
D)  two-bin.

Question 20

Match the term with its definition. Some terms may not be used.
-An approach that recognizes the interdependence of assets and activities and manages them to optimize the entire firm's performance

Accepted Answer

A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing 
A) Continuous manufacturing 
B) Flexible manufacturing systems 
C) Job shops 
D) Lean production 
E) Make-or-buy decisions
F)Operations
G)Outsourcing
H)Poka-yoke
I)Project manufacturing
J)Repetitive manufacturing
K)Supply Chain Operations Reference model
L)Synchronous manufacturing

Exam 21: Managing Operations

The just-in-time inventory system classifies inventory into three categories based on value.

Match the term with its definition. Some terms may not be used. -A list of critical factors that provides a helpful starting place when assessing a supplier's performance

Match the term with its definition. Some terms may not be used. -Manufacturing operations designed for long production runs of high-volume, standardized products

Which item is a tangible output for a bed and breakfast inn guest?

The inventory control method that uses a targeted service level allowing for the variability of supply and demand is

Cooperative purchasing organizations are firms that specialize in the purchasing function and provide this service to small businesses.

In his retail store, Jose's point-of-sale software relieves inventory for each item purchased. At any time, Jose can look at the inventory records on his computer and know exactly how many of each item are in stock. This type of inventory system is called:

Match the term with its definition. Some terms may not be used. -A method that provides for periodic counting of items in inventory

Match the term with its definition. Some terms may not be used. -An organization in which small businesses combine their demand for products or services in order to negotiate as a group with suppliers

After describing common inventory record-keeping systems, what are guidelines for their use?

Because close interactions with customers allow employees to better understand them, management should be sent in the field periodically.

Cooperative purchasing organizations for small businesses are more successful now because of the:

Match the term with its definition. Some terms may not be used. -Forecasting that considers a variety of variables to determine expected sales

Twice a year the entire production line shuts down and a complete count is taken of every inventory item. This inventory system is called:

Match the term with its definition. Some terms may not be used. -Manufacturing operations designed for short production runs of small quantities of items

When Kentucky Chocolates mixes ingredients for their candies, this act is part of operations.

Match the term with its definition. Some terms may not be used. -Manufacturing operations used to create unique but similar products

Kaoru Ishikawa contends that 85% of the typical company's quality problems can be solved by using "The Basic Seven" quality tools.

In March, chassis prep counts its inventory. In June, the cabinet shop does the same thing. In September, appliances counts its inventory. This inventory system is known as:

Match the term with its definition. Some terms may not be used. -An approach that recognizes the interdependence of assets and activities and manages them to optimize the entire firm's performance

The Entrepreneurial Life

Integrity and Ethics: Foundations for Success in Small Business

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

The Location Plan

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Business

Professional Management and the Small Business

Managing Human Resources

Managing the Firms Assets

Managing Risk in the Small Business

A: Managing Risk in the Small Business

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