Exam 17: Om: Putting It All Together Endnotes

HairStyle and You Inc. is a hair salon that is selling a line of celebrity­inspired wigs in addition to providing haircuts and hairstyles. HairStyle and You Inc. is offering:

Adam oversees the activities in creating the right goods and services in the right quantities and distributing them to the right customers. His decisions have a major impact on both the revenue and costs his firm incurs, and therefore on the firm's financial success. This is an example of operations management.

Total quality management and Six Sigma both share some characteristics like they:

In operations management, _____ refers to completing a task or producing a product at the lowest cost.

One of the main goals of Total Quality Management is to focus on _____.

One potential drawback of just­in­time (JIT) is that it:

Which of the following statements is true of robots?

Firms that have significantly fluctuating demand, depending on the season may temporarily hold large inventories in order to smooth out their production schedules.

Discuss the benefits of holding large inventories.

A servicescape:

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_____ is defined as any function or activity that uses resources but does not create value.

To increase effectiveness in the long term, organizations must sacrifice efficiency.

The type of process that integrates computer software with automated systems is known as CAD/CAM.

The use of web­based ERP services is an example of a relatively new trend in information technology known as cloud computing.

A local diner makes milkshakes the old fashioned way: it hand­dips premium ice cream, adds fresh whole milk and other high­quality ingredients, individually mixes the shake when ordered, and puts whipped cream and a cherry on top. The cost of this approach is higher than the cost of producing shakes at most fast food outlets, but the diner is famous among local patrons for having the best shakes in town. This diner clearly focuses more on efficiency than on effectiveness.

Clear Manufacturing has adopted a lean production strategy. Clear Manufacturing is likely to hold large inventories of parts, materials, and finished goods in order to prevent shortages and smooth out the production process.

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Describe the key responsibilities of operations managers.

Manufacturing firms do not normally hold work in process or raw materials, but they do hold inventories of the finished goods they sell as well as basic supplies that they need.