Question 1

________ are the amounts of inventory or raw materials and work-in-process kept to guarantee service levels.

Accepted Answer

A) Safety stock levels 
B) Sufficiency levels 
C) Minimum lots 
D) Modicum levels 
E) Adequacy levels 
A) Safety stock levels 
B) Sufficiency levels 
C) Minimum lots 
D) Modicum levels 
E) Adequacy levels A

Question 2

Suppliers can be found on the Internet as well as on a number of other sources.

Accepted Answer

A) True 
 B)False  True

Question 3

Describe and discuss two unique advantages and two unique disadvantages of starting a manufacturing business.

Accepted Answer

Manufacturers can make products that don't exist or fine-tune the design and features of a product in ways that resale businesses cannot.However,it can cost a lot to set up a manufacturing company and it can be costly to hire and train workers.

Question 4

The family of standards for quality management systems established by the International Organization for Standardization is ________.

Accepted Answer

A) ISO9000 
B) ISO2008 
C) ISO8800 
D) ISO7000 
E) None of the above 
A) ISO9000 
B) ISO2008 
C) ISO8800 
D) ISO7000 
E) None of the above

Question 5

Organizations applying for the Baldrige Award are judged on ________.

Accepted Answer

A) Customer and market focus 
B) Leadership and strategic planning 
C) Process management and human resources focus 
D) All of the above 
E) None of the above 
A) Customer and market focus 
B) Leadership and strategic planning 
C) Process management and human resources focus 
D) All of the above 
E) None of the above

Question 6

Job shops are useful to manufacturers because they ________.

Accepted Answer

A) Make a part less expensively 
B) Maintain and provide specialized equipment 
C) Produce parts of consistent quality 
D) All of the above 
E) None of the above 
A) Make a part less expensively 
B) Maintain and provide specialized equipment 
C) Produce parts of consistent quality 
D) All of the above 
E) None of the above

Question 7

________ follow quality.

Accepted Answer

A) People 
B) Functions 
C) Profits 
D) Brokers 
E) Wholesalers 
A) People 
B) Functions 
C) Profits 
D) Brokers 
E) Wholesalers

Question 8

Engineers from what company developed Six Sigma in the 1980s?

Accepted Answer

A) Motorola 
B) General Motors 
C) Intel 
D) Apple 
E) Microsoft 
A) Motorola 
B) General Motors 
C) Intel 
D) Apple 
E) Microsoft

Question 9

A ________ is a model or pattern that serves as an example of how a product would look and operate if it were manufactured.

Accepted Answer

A) Prototype 
B) Specification 
C) Blueprint 
D) Description 
E) Plan 
A) Prototype 
B) Specification 
C) Blueprint 
D) Description 
E) Plan

Question 10

The inventory method in which you look at the inventory on hand and you reorder when the stock level of an item appears to be low is called ________.

Accepted Answer

A) Visual control 
B) Proximal management 
C) Estimation 
D) Basic control 
E) All of the above 
A) Visual control 
B) Proximal management 
C) Estimation 
D) Basic control 
E) All of the above

Question 11

What organization administers the Malcolm Baldrige National Quality Award?

Accepted Answer

A) National Institute of Standards and Technology (NIST) 
B) National Aeronautical and Space Administration (NAS
A)  
C) United Nations (UN) 
D) European Union (EU) 
E) North American Free Trade Agreement (NAFT
A)  
A) National Institute of Standards and Technology (NIST) 
B) National Aeronautical and Space Administration (NAS
A)  
C) United Nations (UN) 
D) European Union (EU) 
E) North American Free Trade Agreement (NAFT
A)

Question 12

Location and layout are not critical for all types of businesses.

Accepted Answer

A) True 
 B)False

Question 13

What steps can an organization take to incorporate technology (name at least three)and why might they be beneficial?

Accepted Answer

Awareness of the technology available,ho

Question 14

________,an American economist,argued that business should focus on making quality products instead of maximizing profits-and that profits would follow.

Accepted Answer

A) W)Edwards Deming 
B) Conrad Hilton 
C) Paul Samuelson 
D) Jonathan Anderson 
E) Jennifer Jewet 
A) W)Edwards Deming 
B) Conrad Hilton 
C) Paul Samuelson 
D) Jonathan Anderson 
E) Jennifer Jewet

Question 15

Within Six Sigma,the statistical methods are designed to eliminate defects to a failure rate of ________ defects per one million opportunities,or a 99.9997% success rate.

Accepted Answer

A) 3)4 
B) 0)34 
C) 34 
D) 340 
E) None of the above 
A) 3)4 
B) 0)34 
C) 34 
D) 340 
E) None of the above

Question 16

Factors to consider when selecting a ________ include conformance to quality standards,extension of trade credit,and timely delivery.

Accepted Answer

A) Supplier 
B) Sales representative 
C) Customer 
D) Banker 
E) Lawyer 
A) Supplier 
B) Sales representative 
C) Customer 
D) Banker 
E) Lawyer

Question 17

________ control simply means that you look at the inventory on hand,and when the stock level of an item appears to be low,you reorder.

Accepted Answer

A) Visual 
B) Standard 
C) Audit 
D) Loose 
E) Planned 
A) Visual 
B) Standard 
C) Audit 
D) Loose 
E) Planned

Question 18

Suppliers may be found through ________.

Accepted Answer

A) Trade shows,conferences,and catalogs 
B) Newspapers 
C) Magazines 
D) All of the above 
E) None of the above 
A) Trade shows,conferences,and catalogs 
B) Newspapers 
C) Magazines 
D) All of the above 
E) None of the above

Question 19

One submethodology employed in Six Sigma is DMAIC,which stands for ________.

Accepted Answer

A) Define,measure,analyze,improve,and control 
B) Define,minimize,assess,improve,and collect 
C) Describe,measure,assess,improve,and control 
D) Discover,maximize,assess,improve,and coordinate 
E) Define,measure,acquire,impress,and control 
A) Define,measure,analyze,improve,and control 
B) Define,minimize,assess,improve,and collect 
C) Describe,measure,assess,improve,and control 
D) Discover,maximize,assess,improve,and coordinate 
E) Define,measure,acquire,impress,and control

Question 20

________ is the management of sourcing,procuring,production,and logistics to go from raw materials to end consumers across multiple intermediate steps.

Accepted Answer

A) Supply Chain Management 
B) Total Quality Management 
C) The Production-Distribution chain 
D) Operational Management 
E) Systems Management 
A) Supply Chain Management 
B) Total Quality Management 
C) The Production-Distribution chain 
D) Operational Management 
E) Systems Management

Exam 17: Operating for Success

________ are the amounts of inventory or raw materials and work-in-process kept to guarantee service levels.

Suppliers can be found on the Internet as well as on a number of other sources.

Describe and discuss two unique advantages and two unique disadvantages of starting a manufacturing business.

The family of standards for quality management systems established by the International Organization for Standardization is ________.

Organizations applying for the Baldrige Award are judged on ________.

Job shops are useful to manufacturers because they ________.

________ follow quality.

Engineers from what company developed Six Sigma in the 1980s?

A ________ is a model or pattern that serves as an example of how a product would look and operate if it were manufactured.

The inventory method in which you look at the inventory on hand and you reorder when the stock level of an item appears to be low is called ________.

What organization administers the Malcolm Baldrige National Quality Award?

Location and layout are not critical for all types of businesses.

What steps can an organization take to incorporate technology (name at least three)and why might they be beneficial?

________,an American economist,argued that business should focus on making quality products instead of maximizing profits-and that profits would follow.

Within Six Sigma,the statistical methods are designed to eliminate defects to a failure rate of ________ defects per one million opportunities,or a 99.9997% success rate.

Factors to consider when selecting a ________ include conformance to quality standards,extension of trade credit,and timely delivery.

________ control simply means that you look at the inventory on hand,and when the stock level of an item appears to be low,you reorder.

Suppliers may be found through ________.

One submethodology employed in Six Sigma is DMAIC,which stands for ________.

________ is the management of sourcing,procuring,production,and logistics to go from raw materials to end consumers across multiple intermediate steps.

Entrepreneurs Recognize Opportunities

Franchising

Finding Opportunity in an Existing Business

The Business Plan: Road Map to Success

Creating Business From Opportunity

Exploring Your Market

Developing the Right Marketing Mix and Plan

Pricing and Credit Strategies

Integrated Marketing Communications

Marketing Globally

Smart Selling and Effective Customer Service

Understanding and Managing Start-Up, fixed, and Variable Costs

Using Financial Statements to Guide a Business

Cash Flow and Taxes

Financing Strategy: Debt, equity, or Both

Addressing Legal Issues and Managing Risk

Location, facilities, and Layout

Human Resources and Management

Leadership and Ethical Practices

Franchising, licensing, and Harvesting: Cashing in Your Brand

Filters