Exam 17: Operating for Success

A measure of quality that may be used in Total Quality Management (TQM)is ________.

Safety stock levels refer to the amounts of inventory or raw materials and work-in-process that are kept to ensure the satisfying of customer demand.

Few cities and towns have zoning laws that limit what you can do in a residential area.

The three factors included in the calculation of the Reorder Point are ________.

Comparing one company's performance against that of other companies in the same industry or against best practices,standards,or certification criteria is called ________.

Operations are the set of actions that produce goods and services,and operational efficiency is critical to business success.

Define "tooling costs" and "set-up costs" and explain their roles in manufacturing.

The set of actions that produce goods and services is called ________.

________ is the process of going forward or backward on the idea-to-market continuum.

There are no legal issues or concerns related to the creation of a supply chain.

Which of the following is not a step in the production-distribution chain?

What is benchmarking?

Managing inventory is not related to marketing success.

Explain why "profits follow quality."

The management of sourcing,procuring,production,and logistics to go from raw materials to end consumers across multiple intermediate steps constitutes supply chain management.

One unique feature of manufacturers is that they can make products that do not exist yet.

A critical component of Supply Chain Management is ________.

The amount of inventory to order that will total the minimum total ordering and holding costs is called the ________.

Job shops make a final product for consumers or end customers.

Benchmarking is what you are doing when you create a competitive comparison for marketing purposes or when you compare your projected or actual financial ratios to industry levels.