MGMT 2150 QUIZ 4 STUDY GUIDE
3 types of production planning - Answers - design planning, facilities planning,
operational planning
differences in quality are measured by.... - Answers - types of resources used, timing of
product consumption, measuring quality (satisfied customers)
research and development (R&D) - Answers - a set of activities intended to identify new
ideas that have the potential to result in new goods and services
Design planning - Answers - the development of a plan for converting an idea into an
actual good or service, includes decisions related to product line design, production
capacity and selection of manufacturing technology
the major decisions of design planning are to... - Answers - design a product line,
estimate production capacity, evaluate production technology options
capacity - Answers - the amount of product that an organization can produce in a given
period of time
when choosing production facilities, what are some considerations that must be made?
- Answers - proximity to major customers, availability and cost of labour, cost of
construction and operations, access to key resources
facility layout - Answers - the arrangement of machinery, equipment and employees
within a production factory
supply chain management - Answers - the coordination of members of the supply
channel with the goal of reducing inefficiencies, costs and redundancies
materials requirement planning (MRP) - Answers - a computerized system that
integrates production planning and inventory control
enterprise resource planning (ERP) - Answers - a computerized system that integrates
production planning, inventory control, quality statistics, sales data and more
3 main aspects of operations planning and control - Answers - supply chain
management, scheduling, quality control
scheduling - Answers - the process of specifying and controlling time required for each
step in the process to ensure that the materials and other resources are in the right
place at the right time
, PERT (program evaluation and review technique) chart - Answers - graphic
representation of the PERT technique for scheduling and maintaining control of the
schedule
Gantt chart - Answers - a graphic scheduling device that displays the tasks to be
performed on the vertical axis and the time required for each task on the horizontal axis
critical path - Answers - the sequence of activities that take the longest time from start to
finish. a delay in critical path activities will delay completion of a project or production
process
total quality management - Answers - coordinated efforts directed at improving
customer satisfaction, increasing employee participation, strengthening supplier
relationships and facilitating an organizational atmosphere of continuous quality
improvement
six sigma - Answers - a disciplined approach that relies on statistical data and improved
methods to eliminate defects
true or false: a product can be a good or a service - Answers - true
consumer product - Answers - a product purchased to satisfy personal and family needs
business product - Answers - a product bought for resale, for making other products or
for use in a business's operations
convenience product - Answers - a relatively inexpensive, frequently purchased item
which buyers want to exert minimal effort (ex. toothpaste)
shopping product - Answers - an item for which buyers are willing to spend considerable
effort on planning and making the purchase (ex. phones)
specialty product - Answers - an item that possesses one or more unique characteristics
for which a significant group of buyers is willing to spend considerable purchasing effort
(ex. sports memorabilia)
unsought product - Answers - a product that is not actively sought out until a significant
event occurs (ex. life insurance)
component part - Answers - an item that becomes part of a physical product and is
either a finished item ready for assembly or a product that needs little processing before
assembly
process material - Answers - a material that is used directly in the production of another
product but not readily identifiable in the finished product
3 types of production planning - Answers - design planning, facilities planning,
operational planning
differences in quality are measured by.... - Answers - types of resources used, timing of
product consumption, measuring quality (satisfied customers)
research and development (R&D) - Answers - a set of activities intended to identify new
ideas that have the potential to result in new goods and services
Design planning - Answers - the development of a plan for converting an idea into an
actual good or service, includes decisions related to product line design, production
capacity and selection of manufacturing technology
the major decisions of design planning are to... - Answers - design a product line,
estimate production capacity, evaluate production technology options
capacity - Answers - the amount of product that an organization can produce in a given
period of time
when choosing production facilities, what are some considerations that must be made?
- Answers - proximity to major customers, availability and cost of labour, cost of
construction and operations, access to key resources
facility layout - Answers - the arrangement of machinery, equipment and employees
within a production factory
supply chain management - Answers - the coordination of members of the supply
channel with the goal of reducing inefficiencies, costs and redundancies
materials requirement planning (MRP) - Answers - a computerized system that
integrates production planning and inventory control
enterprise resource planning (ERP) - Answers - a computerized system that integrates
production planning, inventory control, quality statistics, sales data and more
3 main aspects of operations planning and control - Answers - supply chain
management, scheduling, quality control
scheduling - Answers - the process of specifying and controlling time required for each
step in the process to ensure that the materials and other resources are in the right
place at the right time
, PERT (program evaluation and review technique) chart - Answers - graphic
representation of the PERT technique for scheduling and maintaining control of the
schedule
Gantt chart - Answers - a graphic scheduling device that displays the tasks to be
performed on the vertical axis and the time required for each task on the horizontal axis
critical path - Answers - the sequence of activities that take the longest time from start to
finish. a delay in critical path activities will delay completion of a project or production
process
total quality management - Answers - coordinated efforts directed at improving
customer satisfaction, increasing employee participation, strengthening supplier
relationships and facilitating an organizational atmosphere of continuous quality
improvement
six sigma - Answers - a disciplined approach that relies on statistical data and improved
methods to eliminate defects
true or false: a product can be a good or a service - Answers - true
consumer product - Answers - a product purchased to satisfy personal and family needs
business product - Answers - a product bought for resale, for making other products or
for use in a business's operations
convenience product - Answers - a relatively inexpensive, frequently purchased item
which buyers want to exert minimal effort (ex. toothpaste)
shopping product - Answers - an item for which buyers are willing to spend considerable
effort on planning and making the purchase (ex. phones)
specialty product - Answers - an item that possesses one or more unique characteristics
for which a significant group of buyers is willing to spend considerable purchasing effort
(ex. sports memorabilia)
unsought product - Answers - a product that is not actively sought out until a significant
event occurs (ex. life insurance)
component part - Answers - an item that becomes part of a physical product and is
either a finished item ready for assembly or a product that needs little processing before
assembly
process material - Answers - a material that is used directly in the production of another
product but not readily identifiable in the finished product
