UNIVERSITY OF ALABAMA, OM 300,
CHILCUTT FINAL(RATED A+)
Production - ANSWERthe creation of goods and services
Productivity - ANSWERratio of outputs (goods and services) divided by one or more
inputs (such as labor, capital, or management.)
Multifactor productivity - ANSWERindicates the ratio of goods and services produced
(outputs) to many or all resources (inputs)
Mission - ANSWERthe purpose or rationale for an organization's existence
Strategy - ANSWERhow an organization expects to achieve its missions and goals
Competitive advantage - ANSWERthe creation of a unique advantage over
competitors
Product Life Cycle Management - ANSWERsoftware programs that tie together
many phases of product design and manufacture
Critical Path - ANSWERthe computed longest time path(s) through a network
Project Manager - ANSWERcoordinate activities w/ other departments and reports
directly to top management
Project Manager Responsibilities - ANSWERresponsible for ensuring:
1) all necessary activities are finished in proper sequence and on time
2) project stays within budget
3) project meets quality goals
4) people assigned to project receive motivation, direction, and info needed to do
their jobs
4 Process Strategies - ANSWERan organization's approach to transforming
resources into goods ans services
Process Focus - ANSWERa production facility organized around processes to
facilitate low-volume, high-variety production
Repetitive Focus - ANSWERA product-oriented production process that uses
modules
Product Focus - ANSWERa facility organized around products; a product-oriented,
high-volume, low-variety process
, Mass Customization - ANSWERrapid, low-cost production that caters to constantly
changing unique customer desires
Forecast Time Horizon (short range) - ANSWER- time span of up to 1 year but
generally less than 3 months
- used for planning purchasing, scheduling, workforce levels, job assignments, and
production levels
Forecast Time Horizon (medium range) - ANSWER- generally spans from 3 months
to 3 years
- useful in sales planning, production planning + budgeting, cash budgeting, and
analysis of various operating plans
Forecast Time Horizon (long range) - ANSWER- generally 3+ years
- used in planning for new products, capital expenditures, facility location/expansion,
and research + development
Bill of Materials - ANSWERlist of quantities of components, ingredients, and
materials required to make a product
Engineering Drawing - ANSWERdrawing that shows the dimensions, tolerances,
materials, and finishes of a component
Stakeholders - ANSWERthose w/ a vested interest in an org., including customers,
distributors, suppliers, owners, lenders, employees, and community members
Triple Bottom Line - ANSWERsystems needed to support the 3 P's: people, planet,
and profit; sustainability
Total Quality Management (TQM) - ANSWERmanagement of an entire org. so that it
excels in all aspects of products and services that are important to the customer
ISO 14001 - ANSWERseries of environmental management standards established
by the International Org for Standardization (ISO)
Six Sigma - ANSWERprogram to save time, improve quality, and lower costs
7 Tools of TQM - ANSWER
Check Sheet - ANSWERany kind of form that is designed for recording data
Scatter Diagram - ANSWERshows the relationship between two measurements
Fishbone Diagram - ANSWERA visual identification of many potential causes of a
problem
Pareto Chart - ANSWERa graphic way of classifying problems by their level of
importance, often referred to as the 80-20 rule
CHILCUTT FINAL(RATED A+)
Production - ANSWERthe creation of goods and services
Productivity - ANSWERratio of outputs (goods and services) divided by one or more
inputs (such as labor, capital, or management.)
Multifactor productivity - ANSWERindicates the ratio of goods and services produced
(outputs) to many or all resources (inputs)
Mission - ANSWERthe purpose or rationale for an organization's existence
Strategy - ANSWERhow an organization expects to achieve its missions and goals
Competitive advantage - ANSWERthe creation of a unique advantage over
competitors
Product Life Cycle Management - ANSWERsoftware programs that tie together
many phases of product design and manufacture
Critical Path - ANSWERthe computed longest time path(s) through a network
Project Manager - ANSWERcoordinate activities w/ other departments and reports
directly to top management
Project Manager Responsibilities - ANSWERresponsible for ensuring:
1) all necessary activities are finished in proper sequence and on time
2) project stays within budget
3) project meets quality goals
4) people assigned to project receive motivation, direction, and info needed to do
their jobs
4 Process Strategies - ANSWERan organization's approach to transforming
resources into goods ans services
Process Focus - ANSWERa production facility organized around processes to
facilitate low-volume, high-variety production
Repetitive Focus - ANSWERA product-oriented production process that uses
modules
Product Focus - ANSWERa facility organized around products; a product-oriented,
high-volume, low-variety process
, Mass Customization - ANSWERrapid, low-cost production that caters to constantly
changing unique customer desires
Forecast Time Horizon (short range) - ANSWER- time span of up to 1 year but
generally less than 3 months
- used for planning purchasing, scheduling, workforce levels, job assignments, and
production levels
Forecast Time Horizon (medium range) - ANSWER- generally spans from 3 months
to 3 years
- useful in sales planning, production planning + budgeting, cash budgeting, and
analysis of various operating plans
Forecast Time Horizon (long range) - ANSWER- generally 3+ years
- used in planning for new products, capital expenditures, facility location/expansion,
and research + development
Bill of Materials - ANSWERlist of quantities of components, ingredients, and
materials required to make a product
Engineering Drawing - ANSWERdrawing that shows the dimensions, tolerances,
materials, and finishes of a component
Stakeholders - ANSWERthose w/ a vested interest in an org., including customers,
distributors, suppliers, owners, lenders, employees, and community members
Triple Bottom Line - ANSWERsystems needed to support the 3 P's: people, planet,
and profit; sustainability
Total Quality Management (TQM) - ANSWERmanagement of an entire org. so that it
excels in all aspects of products and services that are important to the customer
ISO 14001 - ANSWERseries of environmental management standards established
by the International Org for Standardization (ISO)
Six Sigma - ANSWERprogram to save time, improve quality, and lower costs
7 Tools of TQM - ANSWER
Check Sheet - ANSWERany kind of form that is designed for recording data
Scatter Diagram - ANSWERshows the relationship between two measurements
Fishbone Diagram - ANSWERA visual identification of many potential causes of a
problem
Pareto Chart - ANSWERa graphic way of classifying problems by their level of
importance, often referred to as the 80-20 rule
