GMS 401 Final exam || 100% Correct Answers.
Production correct answers the creation of goods and services
Operations Management correct answers Activities that relate to the creation of goods and
services through the transformation of inputs to outputs
Supply chain correct answers A global network of organizations and activities that supply a firm
with goods and services
Services correct answers Economic activities that typically produce an intangible product (such
as education, entertainment, lodging, government, financial, and health services)
Service sector correct answers the segment of the economy that includes trade, financial,
lodging, education, legal, medical, and other professional occupations
Management process correct answers the application of planning, organizing, staffing, leading,
and controlling to the achievement of objectives
Differentiation correct answers distinguishing the offerings of an organization in a way that the
customer perceives as adding value
Experience Differentiation correct answers Engaging a customer with a product through
imaginative use of the five senses, so the customer "experiences" the product
Low cost leadership correct answers achieving maximum value, as perceived by the customer
Response correct answers a set of values related to rapid, flexible, and reliable performance
Mission correct answers the purpose or rationale for an organization's existence
Strategy correct answers how an organization expects to achieve its missions and goals
Productivity correct answers the ratio of outputs (goods and services) divided by one or more
inputs (such as labour, capital or management)
Single factor Productivity correct answers Indicates the ratio of one resource (input) to the goods
and services produced (outputs).
Multifactor productivity correct answers indicates the ratio of many or all resources (inputs) to
the goods and services produced (outputs)
Productivity variables correct answers the three factors critical to productivity improvement -
capital and the art and science of management
, Knowledge Society correct answers a society in which much of the labour force has migrated
from manual work to work based on knowledge
Maintenance correct answers the activities involved in keeping a systems equipment in working
order
Reliability correct answers the probability that a machine part or product will function properly
for a specified time under stated conditions
Mean Time Between Failures (MTBF) correct answers The expected time between a repair and
the next failure of a component, machine, process, or product.
Redundancy correct answers the use of components in parallel to raise reliability
Product development stages correct answers Product concepts are developed from a variety of
sources, both external and internal to the firm. Concepts that survive the product idea stage
progress through various stages, with nearly constant review, feedback, and evaluation in a
highly participative environment to minimize failure
Robust design correct answers a design that can be produced to requirements even with
unfavorable conditions in the production process
Modular designs correct answers Designs in which parts or components of a product are
subdivided into modules that are easily interchanged or replaced
computer-aided design (CAD) correct answers interactive use of a computer to develop and
document a product
Design for manufacture and assembly (DFMA) correct answers software that allows designers to
look at the effect of design on manufacturing of the product
3-D Object Modeling correct answers An extension of CAD that builds small prototypes.
Standard for the exchange of product data (STEP) correct answers a standard that provides a
format allowing the electronic transmission of three-dimensional data
computer-aided manufacturing (CAM) correct answers the use of information technology to
control machinery
Virtual reality correct answers a visual form of communication in which images substitute for
reality and typically allow the user to respond interactively
Value analysis correct answers a review of successful products that takes place during the
production process
Production correct answers the creation of goods and services
Operations Management correct answers Activities that relate to the creation of goods and
services through the transformation of inputs to outputs
Supply chain correct answers A global network of organizations and activities that supply a firm
with goods and services
Services correct answers Economic activities that typically produce an intangible product (such
as education, entertainment, lodging, government, financial, and health services)
Service sector correct answers the segment of the economy that includes trade, financial,
lodging, education, legal, medical, and other professional occupations
Management process correct answers the application of planning, organizing, staffing, leading,
and controlling to the achievement of objectives
Differentiation correct answers distinguishing the offerings of an organization in a way that the
customer perceives as adding value
Experience Differentiation correct answers Engaging a customer with a product through
imaginative use of the five senses, so the customer "experiences" the product
Low cost leadership correct answers achieving maximum value, as perceived by the customer
Response correct answers a set of values related to rapid, flexible, and reliable performance
Mission correct answers the purpose or rationale for an organization's existence
Strategy correct answers how an organization expects to achieve its missions and goals
Productivity correct answers the ratio of outputs (goods and services) divided by one or more
inputs (such as labour, capital or management)
Single factor Productivity correct answers Indicates the ratio of one resource (input) to the goods
and services produced (outputs).
Multifactor productivity correct answers indicates the ratio of many or all resources (inputs) to
the goods and services produced (outputs)
Productivity variables correct answers the three factors critical to productivity improvement -
capital and the art and science of management
, Knowledge Society correct answers a society in which much of the labour force has migrated
from manual work to work based on knowledge
Maintenance correct answers the activities involved in keeping a systems equipment in working
order
Reliability correct answers the probability that a machine part or product will function properly
for a specified time under stated conditions
Mean Time Between Failures (MTBF) correct answers The expected time between a repair and
the next failure of a component, machine, process, or product.
Redundancy correct answers the use of components in parallel to raise reliability
Product development stages correct answers Product concepts are developed from a variety of
sources, both external and internal to the firm. Concepts that survive the product idea stage
progress through various stages, with nearly constant review, feedback, and evaluation in a
highly participative environment to minimize failure
Robust design correct answers a design that can be produced to requirements even with
unfavorable conditions in the production process
Modular designs correct answers Designs in which parts or components of a product are
subdivided into modules that are easily interchanged or replaced
computer-aided design (CAD) correct answers interactive use of a computer to develop and
document a product
Design for manufacture and assembly (DFMA) correct answers software that allows designers to
look at the effect of design on manufacturing of the product
3-D Object Modeling correct answers An extension of CAD that builds small prototypes.
Standard for the exchange of product data (STEP) correct answers a standard that provides a
format allowing the electronic transmission of three-dimensional data
computer-aided manufacturing (CAM) correct answers the use of information technology to
control machinery
Virtual reality correct answers a visual form of communication in which images substitute for
reality and typically allow the user to respond interactively
Value analysis correct answers a review of successful products that takes place during the
production process
