GMS 401 Final exam
GMS 401 Final exam Study Questions
and Answers with Complete Solutions
Grad 2024-2025
Production -Correct Answer ✔the creation of goods and services
Operations Management -Correct Answer ✔Activities that relate to the creation of goods
and services through the transformation of inputs to outputs
Supply chain -Correct Answer ✔A global network of organizations and activities that
supply a firm with goods and services
Services -Correct Answer ✔Economic activities that typically produce an intangible
product (such as education, entertainment, lodging, government, financial, and health
services)
Service sector -Correct Answer ✔the segment of the economy that includes trade,
financial, lodging, education, legal, medical, and other professional occupations
Management process -Correct Answer ✔the application of planning, organizing,
staffing, leading, and controlling to the achievement of objectives
Differentiation -Correct Answer ✔distinguishing the offerings of an organization in a way
that the customer perceives as adding value
Experience Differentiation -Correct Answer ✔Engaging a customer with a product
through imaginative use of the five senses, so the customer "experiences" the product
Low cost leadership -Correct Answer ✔achieving maximum value, as perceived by the
customer
Response -Correct Answer ✔a set of values related to rapid, flexible, and reliable
performance
Mission -Correct Answer ✔the purpose or rationale for an organization's existence
Strategy -Correct Answer ✔how an organization expects to achieve its missions and
goals
Productivity -Correct Answer ✔the ratio of outputs (goods and services) divided by one
or more inputs (such as labour, capital or management)
GMS 401 Final exam
, GMS 401 Final exam
Single factor Productivity -Correct Answer ✔Indicates the ratio of one resource (input) to
the goods and services produced (outputs).
Multifactor productivity -Correct Answer ✔indicates the ratio of many or all resources
(inputs) to the goods and services produced (outputs)
Productivity variables -Correct Answer ✔the three factors critical to productivity
improvement - capital and the art and science of management
Knowledge Society -Correct Answer ✔a society in which much of the labour force has
migrated from manual work to work based on knowledge
Maintenance -Correct Answer ✔the activities involved in keeping a systems equipment
in working order
Reliability -Correct Answer ✔the probability that a machine part or product will function
properly for a specified time under stated conditions
Mean Time Between Failures (MTBF) -Correct Answer ✔The expected time between a
repair and the next failure of a component, machine, process, or product.
Redundancy -Correct Answer ✔the use of components in parallel to raise reliability
Product development stages -Correct Answer ✔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 Answer ✔a design that can be produced to requirements even
with unfavorable conditions in the production process
Modular designs -Correct Answer ✔Designs in which parts or components of a product
are subdivided into modules that are easily interchanged or replaced
computer-aided design (CAD) -Correct Answer ✔interactive use of a computer to
develop and document a product
Design for manufacture and assembly (DFMA) -Correct Answer ✔software that allows
designers to look at the effect of design on manufacturing of the product
3-D Object Modeling -Correct Answer ✔An extension of CAD that builds small
prototypes.
GMS 401 Final exam
GMS 401 Final exam Study Questions
and Answers with Complete Solutions
Grad 2024-2025
Production -Correct Answer ✔the creation of goods and services
Operations Management -Correct Answer ✔Activities that relate to the creation of goods
and services through the transformation of inputs to outputs
Supply chain -Correct Answer ✔A global network of organizations and activities that
supply a firm with goods and services
Services -Correct Answer ✔Economic activities that typically produce an intangible
product (such as education, entertainment, lodging, government, financial, and health
services)
Service sector -Correct Answer ✔the segment of the economy that includes trade,
financial, lodging, education, legal, medical, and other professional occupations
Management process -Correct Answer ✔the application of planning, organizing,
staffing, leading, and controlling to the achievement of objectives
Differentiation -Correct Answer ✔distinguishing the offerings of an organization in a way
that the customer perceives as adding value
Experience Differentiation -Correct Answer ✔Engaging a customer with a product
through imaginative use of the five senses, so the customer "experiences" the product
Low cost leadership -Correct Answer ✔achieving maximum value, as perceived by the
customer
Response -Correct Answer ✔a set of values related to rapid, flexible, and reliable
performance
Mission -Correct Answer ✔the purpose or rationale for an organization's existence
Strategy -Correct Answer ✔how an organization expects to achieve its missions and
goals
Productivity -Correct Answer ✔the ratio of outputs (goods and services) divided by one
or more inputs (such as labour, capital or management)
GMS 401 Final exam
, GMS 401 Final exam
Single factor Productivity -Correct Answer ✔Indicates the ratio of one resource (input) to
the goods and services produced (outputs).
Multifactor productivity -Correct Answer ✔indicates the ratio of many or all resources
(inputs) to the goods and services produced (outputs)
Productivity variables -Correct Answer ✔the three factors critical to productivity
improvement - capital and the art and science of management
Knowledge Society -Correct Answer ✔a society in which much of the labour force has
migrated from manual work to work based on knowledge
Maintenance -Correct Answer ✔the activities involved in keeping a systems equipment
in working order
Reliability -Correct Answer ✔the probability that a machine part or product will function
properly for a specified time under stated conditions
Mean Time Between Failures (MTBF) -Correct Answer ✔The expected time between a
repair and the next failure of a component, machine, process, or product.
Redundancy -Correct Answer ✔the use of components in parallel to raise reliability
Product development stages -Correct Answer ✔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 Answer ✔a design that can be produced to requirements even
with unfavorable conditions in the production process
Modular designs -Correct Answer ✔Designs in which parts or components of a product
are subdivided into modules that are easily interchanged or replaced
computer-aided design (CAD) -Correct Answer ✔interactive use of a computer to
develop and document a product
Design for manufacture and assembly (DFMA) -Correct Answer ✔software that allows
designers to look at the effect of design on manufacturing of the product
3-D Object Modeling -Correct Answer ✔An extension of CAD that builds small
prototypes.
GMS 401 Final exam
