Exam 16: Operations Management: Putting It All Together

In project scheduling terminology,activities that must be completed before other activities can begin are referred to as which of the following?

The Deming Chain Reaction refers to the compounding of interest that explains why a dollar today is worth more than a dollar tomorrow.

Which of the following is a network of national standards institutes in over 150 nations that develop global standards for industries?

Micromax sells personal computers that include a two-year warranty as well as free Web-based tech services for the software installed on the computer.Which of the following describes the product offered by Micromax?

Value stream mapping is a tool that enables firms that want to implement lean production methods to identify sources of waste.

Discuss reasons why producers might hold inventories that exceed the amount needed to satisfy current demand.Are there any drawbacks to holding large inventories? Explain.

The goal of one of the newest sets of ISO standards focuses on environmental management.It encourages firms to minimize harm to the natural environment and improve environmental practices.This is known as which of the following?

What type of firm holds inventories of raw materials,components and parts,work-in-process,and finished goods?

Although workers in less wealthy nations earn lower wages than Canadian workers,they also may have less education and experience,resulting in much lower productivity.

Effectiveness means producing output or achieving a goal at the lowest cost.

Which of the following is a project management tool illustrating relationships among all activities involved in completing a project,thus enabling managers to identify activities that are most likely to delay the project's completion?

Which of the following is a set of activities or steps that combine inputs to create a good or service?

Even though the implementation of a new ERP system can be daunting,most firms that adopt this type of system view the end result as a success.

A local diner makes milkshakes the old-fashioned way: it hand-dips premium ice cream,adds fresh whole milk and other high-quality 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 effectiveness than on efficiency.

Six Sigma has a single unifying measure to reduce defects to which of the following?

Which of the following is a visual presentation that tracks the progress of the activities involved in completing a project?

Which of the following is a diagram providing the detailed picture of the flows of all parts,materials,and information throughout the entire production process for the purpose of streamlining the process and avoiding waste?

The funds tied up in holding large inventories may have more profitable uses elsewhere in an organization.

The Baldrige National Quality Program is an international program to promote operational procedure guidelines for all business practices.

Most manufacturing firms are concerned about the availability of reliable electricity and water supplies when making location decisions.These considerations deal with which of the following?