Outsourcing is the act of moving some of a firm’s internal activities and decision
responsibility to outside providers.
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A principle of value stream mapping is to concentrate on speeding up value-added
operations.
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A quality guru named Joseph M. Juran is well known for his program structured around
“14 points” for management.
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One of the competitive dimensions that form the competitive position of a company
when planning their strategies is delivery speed.
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At some point, the size of a growing plant can become too large and diseconomies of
scale become a capacity planning problem.
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A quality guru named Philip Crosby suggested that a general approach to quality
management should involve prevention, not inspection.
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The total cost of ownership (TCO) can be categorized into three areas: acquisition
costs, ownership costs, and post-ownership costs.
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Capacity planning is generally viewed in three time durations: Immediate, Intermediate
and Indeterminate.
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Science Management and Engineering aims to apply the latest concepts in information
technology to continue to improve service productivity of technology-based
organizations.
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When implemented correctly, MRP links all areas of the business.
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For the purposes of assembly-line balancing, the required workstation cycle time is
found by dividing production time per day by the required units of output per day.
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One of the assumptions made using CPM is that project activity sequence relationships
can be specified and networked.
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“Business Analytics” involves the analysis of data through a unique combination of
linear programming, game theory and queuing theory to better solve business problems.
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Operations and supply strategy can be viewed as part of a planning process that
coordinates operational goals with those of the larger organization.
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JIT production means that we produce the product before it is required so the customer
does not wait for the product.
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Making adjustments to eliminate the variance between planned and actual output is tied
into intermediate range capacity planning.
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In the fixed-time period model it is necessary to determine the inventory currently on
hand to calculate the size of the order to place with a vendor.
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Variation that is inherent in a production process itself is called common variation.
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