Exam 17: Operations Management: Putting It All Together

Prextos Corp., after incurring losses, decides to move its manufacturing unit to a foreign location where it would get labor at cheaper rates. This way it plans to make profit. In this scenario, Prextos is planning to employ _____ to cut down its losses.

_____ are stocks of goods or other items held by an organization.

__________are stocks of goods or other items held by an organization.

Unlike total quality management (TQM), Six Sigma:

Which of the following statements is true of offshoring?

Brendon, an employee of ADG Machinery, uses a software program that helps him test, analyze, and optimize his machine designs through computer simulations. While running the computer simulations, he corrects the flaws before approving the designs. In this scenario, Brendon uses _____ software.

The _____ is a project-management tool that illustrates the relationships among all the activities involved in completing a project and identifies the sequence of activities likely to take the longest to complete.

_____ is an approach to quality improvement characterized by very ambitious quality goals, extensive training of employees, and a long-term commitment to working on quality-related issues.

Which of the following statements is true of offshoring?

David works in a small manufacturing firm that makes customized office furniture. He feels it is important to work directly with customers to design high-quality furniture that precisely meets their needs. He believes that doing so would create more value for customers and provide a better relationship between the price of the product and its benefits. In the given scenario, David most likely _____.

Unlike goods, services are _____.

Dennis, a manager at Luis Bryan Inc., oversees the activities involved in creating the right products and services in the right quantities and distributing them to the right customers. His decisions have a major impact on the company's financial success. This illustrates operations management.

Ursula Corp., a manufacturer of notebooks, makes small batches of particular kinds of notebooks according to customer demand. In this way, it caters to the needs of various customers without increasing the manufacturing cost much. In this scenario, which of the following techniques does Ursula employ?

Krest Bank has installed over 50 ATMs across the city that allow its customers to deposit cash into their bank accounts at their convenience. In this scenario, Krest Bank offers its customers a _____.

_____ is an approach to manufacturing that emphasizes the elimination of waste in all aspects of manufacturing processes.

A product layout is used by firms that need to produce small batches of goods that require a degree of customization.

_____ software enables users to test, analyze, and optimize their designs through computer simulations.

Retail firms normally hold work in process or raw materials.

LightZone Inc., a manufacturer of LED lamps, uses a software to create programmed instructions for its automated equipment to ensure that the final product comes out as efficiently as possible. In this scenario, LightZone uses _____.

The only standard in the ISO 9000 family for which organizations can be certified is ISO 9011.