BA 101 TEST QUESTIONS AND ANSWERS LATEST UPDATE
production
creation of finished goods and services using the factors- land, labor, capital, ect,.
operations management
A specialized area in management that converts or transforms resources (including
human resources) into goods and services.
the production process
consists of taking the factors of production and using those inputs to produce goods
(inputs, production control, outputs)
form utility
the value producers add to materials in the creation of finished goods and services
process manufacturing
The part of production that physically or chemically changes materials.
assembly process
puts together components to make a product
continuous process
a production process in which long production runs turn out finished goods over time
intermittent process
a production process in which the production run is short and the machines are
changed frequently to make different products
Computer-aided design (CAD)
the use of computers in the design of products
Computer aided manufacturing (CAM)
Using computers to operate and control machines and processes to manufacture a
product.
computer- integrated manufacturing (CIM)
a complete system that designs products, manages machines and materials, and
controls the operations function
flexible manufacturing
designing machines to do multiple tasks so that they can produce a variety of products
Lean manufacturing
the production of goods using less of everything compared to mass production
mass customization
The ability of an organization to tailor its products or services to the customers'
specifications
3D printing (additive manufacturing)
The process of creating three-dimensional objects by fusing two-dimensional layers of
plastic, metal, and other substances on top of one another.
facility location
the process of selecting a geographic location for a company's operations
interfirm operations management
companies work closely together to design, produce, and ship products to customers
telecommuting
Working at home by using a computer terminal electronically linked to one's place of
employment.
, facility layout
the physical arrangement of resources (including people) in the production process
fixed- position layout
Allows workers to congregate around the product
process layout
similar equipment and functions are grouped together
Materials Requirement Planning (MRP)
A computer-based operations management system that uses sales forecasts to make
sure that needed parts and materials are available at the right time and place.
Enterprise Resource Planning (ERP)
integrates all departments and functions throughout an organization into a single IT
system so that employees can make decisions by viewing enterprise-wide information
on all business operations
Purchasing
the function in a firm that searches for high-quality material resources, finds the best
suppliers, and negotiates the best price for goods and services
Just in time inventory control (JIT)
Minimizes the inventory by having frequent deliveries just in time for assembly into the
final product
quality control
consistently producing what the customer wants while reducing errors before and after
delivery.
six sigma quality
a quality measure that allows only 3.4 defects per million opportunities
statistical quality control (SQC)
the process some managers use to continually monitor all phases of the production
process to assure that quality is being built into the product from the beginning
statistical process control (SPC)
The process of testing statistical samples of product components at each stage of the
production process and plotting those results on a graph. Any variances from quality
standards are recognized and can be corrected if beyond the set standards.
Baldrige Award
Annual award given by the U.S. government to recognize quality achievements of U.S.
companies.
ISO
nongovernmental organization established to promote the development of worlds
standards to facilitate the international exchange of goods and services.
accounting
The process of planning, recording, analyzing, and interpreting financial information.
accounting cycle
A six-step procedure that results in the preparation and analysis of the major financial
statements.
Assets
"stuff" economic resources that the company has use of an from which it can expect to
derive future economic benefit
current assets
production
creation of finished goods and services using the factors- land, labor, capital, ect,.
operations management
A specialized area in management that converts or transforms resources (including
human resources) into goods and services.
the production process
consists of taking the factors of production and using those inputs to produce goods
(inputs, production control, outputs)
form utility
the value producers add to materials in the creation of finished goods and services
process manufacturing
The part of production that physically or chemically changes materials.
assembly process
puts together components to make a product
continuous process
a production process in which long production runs turn out finished goods over time
intermittent process
a production process in which the production run is short and the machines are
changed frequently to make different products
Computer-aided design (CAD)
the use of computers in the design of products
Computer aided manufacturing (CAM)
Using computers to operate and control machines and processes to manufacture a
product.
computer- integrated manufacturing (CIM)
a complete system that designs products, manages machines and materials, and
controls the operations function
flexible manufacturing
designing machines to do multiple tasks so that they can produce a variety of products
Lean manufacturing
the production of goods using less of everything compared to mass production
mass customization
The ability of an organization to tailor its products or services to the customers'
specifications
3D printing (additive manufacturing)
The process of creating three-dimensional objects by fusing two-dimensional layers of
plastic, metal, and other substances on top of one another.
facility location
the process of selecting a geographic location for a company's operations
interfirm operations management
companies work closely together to design, produce, and ship products to customers
telecommuting
Working at home by using a computer terminal electronically linked to one's place of
employment.
, facility layout
the physical arrangement of resources (including people) in the production process
fixed- position layout
Allows workers to congregate around the product
process layout
similar equipment and functions are grouped together
Materials Requirement Planning (MRP)
A computer-based operations management system that uses sales forecasts to make
sure that needed parts and materials are available at the right time and place.
Enterprise Resource Planning (ERP)
integrates all departments and functions throughout an organization into a single IT
system so that employees can make decisions by viewing enterprise-wide information
on all business operations
Purchasing
the function in a firm that searches for high-quality material resources, finds the best
suppliers, and negotiates the best price for goods and services
Just in time inventory control (JIT)
Minimizes the inventory by having frequent deliveries just in time for assembly into the
final product
quality control
consistently producing what the customer wants while reducing errors before and after
delivery.
six sigma quality
a quality measure that allows only 3.4 defects per million opportunities
statistical quality control (SQC)
the process some managers use to continually monitor all phases of the production
process to assure that quality is being built into the product from the beginning
statistical process control (SPC)
The process of testing statistical samples of product components at each stage of the
production process and plotting those results on a graph. Any variances from quality
standards are recognized and can be corrected if beyond the set standards.
Baldrige Award
Annual award given by the U.S. government to recognize quality achievements of U.S.
companies.
ISO
nongovernmental organization established to promote the development of worlds
standards to facilitate the international exchange of goods and services.
accounting
The process of planning, recording, analyzing, and interpreting financial information.
accounting cycle
A six-step procedure that results in the preparation and analysis of the major financial
statements.
Assets
"stuff" economic resources that the company has use of an from which it can expect to
derive future economic benefit
current assets
