Question 1

The three major elements of the product decision are:

Accepted Answer

A) selection,definition,and design. 
B) goods,services,and hybrids. 
C) strategy,tactics,and operations. 
D) cost,differentiation,and speed of response. 
E) legislative,judicial,and executive. 
A) selection,definition,and design. 
B) goods,services,and hybrids. 
C) strategy,tactics,and operations. 
D) cost,differentiation,and speed of response. 
E) legislative,judicial,and executive.

Question 2

A company manufactures specialty pollution-sensing devices for the offshore oil industry.One particular device has reached maturity,and the company is considering whether to replace it with a newer model.Technologies have not changed dramatically,so the new device would have similar functionality to the existing one,but would be smaller and lighter in weight.The firm's three choices are: (1)keep the old model,(2)design a replacement device with internal resources,(3)and purchase a new design from a firm that is one of its suppliers.The market for these devices will be either "receptive" or "neutral" of the replacement model.The financial estimates are as follows: Keeping the old design will yield a profit of $6 million dollars.Designing the replacement internally will yield $10 million if the market is "receptive," but a $3 million loss if the market is "neutral." Acquiring the new design from the supplier will profit $4 million under "receptive," $1 million under "neutral." The company feels that the market has a 70 percent chance of being "receptive" and a 30 percent chance of being "neutral." Draw the appropriate decision tree.Calculate expected value for all courses of action.What action yields the highest expected value?

Accepted Answer

@#IMG-DLM& The three expected monetary values are:

Question 3

If a design can be produced to requirements even when the production process has unfavorable conditions,the design is said to be ________.

Accepted Answer

The answer of If a design can be produced to...

Question 4

What is time-based competition?

Accepted Answer

Time-based competition is competition th

Question 5

Which of the following is NOT a service design technique used to increase service efficiency?

Accepted Answer

A) increase customer interaction 
B) delay customization 
C) automation 
D) modularization 
E) limit the options 
A) increase customer interaction 
B) delay customization 
C) automation 
D) modularization 
E) limit the options

Question 6

Value analysis takes place:

Accepted Answer

A) when the product is selected and designed. 
B) during the initial stages of production when something needs to be done to assure product success. 
C) when the product is first conceived. 
D) during the production process when it is clear that the new product is a success. 
E) when the product cost is very low. 
A) when the product is selected and designed. 
B) during the initial stages of production when something needs to be done to assure product success. 
C) when the product is first conceived. 
D) during the production process when it is clear that the new product is a success. 
E) when the product cost is very low.

Question 7

Regal Marine's attempts to keep in touch with customers and respond to the marketplace are made impossible because consumer tastes change and maritime engineering improves.

Accepted Answer

A) True 
 B)False

Question 8

A swim club is designing a new pool to replace its old pool.The new pool would need to last for 10 years since the club is planning on relocating after 10 years.A concrete shell would cost $100,000 and last for all 10 years.Another option is to install a vinyl liner that would cost only $75,000 to install.However,the vinyl is not guaranteed to last for all 10 years,and it has a 33% chance of breaking down.Repair of the vinyl would cost $40,000 and would extend the life of the vinyl liner to the 10-year mark.If both options are acceptable to the swim club,which one minimizes their cost?

Accepted Answer

@#IMG-DLM& EMV(in thousands)of vinyl is

Question 9

Identify and briefly describe the three process regions from PCN analysis.

Accepted Answer

Direct interaction includes process step

Question 10

In analyzing product design decisions,decision trees determine the ________ of each course of action.

Accepted Answer

expected v

Question 11

When should product strategy focus on forecasting capacity requirements?

Accepted Answer

A) at the introduction stage of the product life cycle 
B) at the growth stage of the product life cycle 
C) at the maturity stage of the product life cycle 
D) at the decline stage of the product life cycle 
E) at the saturation stage of the product life cycle 
A) at the introduction stage of the product life cycle 
B) at the growth stage of the product life cycle 
C) at the maturity stage of the product life cycle 
D) at the decline stage of the product life cycle 
E) at the saturation stage of the product life cycle

Question 12

"With respect to the product decision,managers must be able to accept risk and tolerate failure." Comment on why this is a necessary hazard in making new product decisions,given all the powerful tools and carefully built systems that support that decision.

Accepted Answer

The vast majority of new produ

Question 13

Computer-aided design (CAD)refers to the use of specialized computer programs to direct and control manufacturing equipment.

Accepted Answer

A) True 
 B)False

Question 14

Payoffs,alternatives,and expected monetary values are terms associated with:

Accepted Answer

A) virtual reality. 
B) product life-cycle management. 
C) quality function deployment. 
D) decision trees. 
E) make-or-buy analysis. 
A) virtual reality. 
B) product life-cycle management. 
C) quality function deployment. 
D) decision trees. 
E) make-or-buy analysis.

Question 15

Which of the following is TRUE regarding computer-aided design?

Accepted Answer

A) It is too expensive to use in most manufacturing and design settings. 
B) It is an obsolete technology. 
C) It results in longer development cycles for virtually all products. 
D) It is the use of computers to interactively design products and prepare engineering documentation. 
E) It is the use of information technology to control machinery. 
A) It is too expensive to use in most manufacturing and design settings. 
B) It is an obsolete technology. 
C) It results in longer development cycles for virtually all products. 
D) It is the use of computers to interactively design products and prepare engineering documentation. 
E) It is the use of information technology to control machinery.

Question 16

A listing of the hierarchy of components,their description,and the quantity of each required to make one unit of product is the ________.

Accepted Answer

The answer of A listing of the hierarchy of components,their...

Question 17

Discuss the advisability of using modular assemblies in manufacturing.(What are the advantages and disadvantages?)To what extent can these arguments be applied to service products?

Accepted Answer

Modules are easily segmented components.

Question 18

Reducing the complexity of a product and improving a product's maintainability are activities of:

Accepted Answer

A) product lifecycle management (PLM). 
B) product-by-value analysis. 
C) manufacturability and value engineering. 
D) organizing for product development. 
E) design for destruction (DF
D) . 
A) product lifecycle management (PLM). 
B) product-by-value analysis. 
C) manufacturability and value engineering. 
D) organizing for product development. 
E) design for destruction (DF
D) .

Question 19

Explain the difference between value analysis and value engineering.

Accepted Answer

Value engineering is concerned with redu

Question 20

An engineering drawing shows the:

Accepted Answer

A) dimensions,tolerances,materials,and finishes of a component. 
B) dimensions,tolerances,cost,and sales or use volume of a component. 
C) materials,finishes,machining operations,and dimensions of a component. 
D) cost,materials,tolerances,and lead-time for a component. 
E) cost,dimensions,and machining operations for a component. 
A) dimensions,tolerances,materials,and finishes of a component. 
B) dimensions,tolerances,cost,and sales or use volume of a component. 
C) materials,finishes,machining operations,and dimensions of a component. 
D) cost,materials,tolerances,and lead-time for a component. 
E) cost,dimensions,and machining operations for a component.

Exam 5: Design of Goods and Services

The three major elements of the product decision are:

If a design can be produced to requirements even when the production process has unfavorable conditions,the design is said to be ________.

What is time-based competition?

Which of the following is NOT a service design technique used to increase service efficiency?

Value analysis takes place:

Regal Marine's attempts to keep in touch with customers and respond to the marketplace are made impossible because consumer tastes change and maritime engineering improves.

Identify and briefly describe the three process regions from PCN analysis.

In analyzing product design decisions,decision trees determine the ________ of each course of action.

When should product strategy focus on forecasting capacity requirements?

"With respect to the product decision,managers must be able to accept risk and tolerate failure." Comment on why this is a necessary hazard in making new product decisions,given all the powerful tools and carefully built systems that support that decision.

Computer-aided design (CAD)refers to the use of specialized computer programs to direct and control manufacturing equipment.

Payoffs,alternatives,and expected monetary values are terms associated with:

Which of the following is TRUE regarding computer-aided design?

A listing of the hierarchy of components,their description,and the quantity of each required to make one unit of product is the ________.

Discuss the advisability of using modular assemblies in manufacturing.(What are the advantages and disadvantages?)To what extent can these arguments be applied to service products?

Reducing the complexity of a product and improving a product's maintainability are activities of:

Explain the difference between value analysis and value engineering.

An engineering drawing shows the:

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Forecasting

Managing Quality

Process Strategy

Capacity and Constraint Management

Location Strategies

Layout Strategies

Human Resources, job Design, and Work Measurement

Supply Chain Management

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrpand Erp

Short-Term Scheduling

Jit, tps, and Lean Operations

Maintenance and Reliability

Sustainability in the Supply Chain

Statistical Process Control

Supply Chain Management Analytics

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Filters