AFM 131 MODULE 4 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE

AFM 131 MODULE 4 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE Moving Assembly Line Revolutionary manufacturing method introduced by Henry Ford. •Over 100 years ago •Radical transformation of manufacturing •Radical transformation of society Radical Transformation Significant changes in manufacturing and societal structures. Canadian Today •Focus: -natural resources -auto industry Challenges: •Dependence on U.S. •Increasing globalization -Strengthening emerging markets like India and China Productivity 1.Factors of production-Inputs 2.Improvements when: fewer inputs to produce the same level of outputs or more outputs 3.Product/service produced-Outputs How to improve productivity? •Reducing cost of inputs •Improving quality •Eliminate waste •Improving efficiency of production processes -Reduce non-value added processes Areas of Responsibility Key functions of an operations manager. Global Competitiveness Rankings Evaluations by WEF (World Economic Forum) and IMD (International Institute for Management Development) on country competitiveness. Challenges in Canada Inadequate improvement in productivity Inadequate education/retraining of work force Foreign-owned companies Inadequate spending on R&D Canada's Solutions Innovation: - Government role: Tax credits and incentives, Grants, Trade policy and regulations that expand trade corridors - Strategic partnerships - Role of business: strengthen customer-supplier relationships, focus of quality, practice continuous improvement (culture) Canada today 2 •Research and development (R&D): work directed toward the innovation, introduction, and improvement of products/processes 1.Increase production capability 2.Improve product quality 3.Extend product range