GMS 401 Final exam UPDATED ACTUAL
Questions and CORRECT Answers
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)
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.
Standard for the exchange of product data (STEP) - CORRECT ANSWER✔✔- a standard
that provides a format allowing the electronic transmission of three-dimensional data
computer-aided manufacturing (CAM) - CORRECT ANSWER✔✔- the use of information
technology to control machinery
Virtual reality - CORRECT ANSWER✔✔- a visual form of communication in which images
substitute for reality and typically allow the user to respond interactively
Value analysis - CORRECT ANSWER✔✔- a review of successful products that takes place
during the production process
Process-Chain-Network (PCN) Analysis - CORRECT ANSWER✔✔- analysis that focuses
on the ways in which processes can be designed to optimize interaction between firms and
their customers
Questions and CORRECT Answers
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)
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.
Standard for the exchange of product data (STEP) - CORRECT ANSWER✔✔- a standard
that provides a format allowing the electronic transmission of three-dimensional data
computer-aided manufacturing (CAM) - CORRECT ANSWER✔✔- the use of information
technology to control machinery
Virtual reality - CORRECT ANSWER✔✔- a visual form of communication in which images
substitute for reality and typically allow the user to respond interactively
Value analysis - CORRECT ANSWER✔✔- a review of successful products that takes place
during the production process
Process-Chain-Network (PCN) Analysis - CORRECT ANSWER✔✔- analysis that focuses
on the ways in which processes can be designed to optimize interaction between firms and
their customers
