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C483 Questions and Correct Answers/
Latest Update / Already Graded
Benefits of implementing a total quality management system
Ans: characterized by a strong orientation towards all customers, and had
become an umbrella theme for organizing work. reorients managers
towards involving people across departments. there is continuous
improvement requiring integrative mechanisms that facilitate group
problem solving, information sharing and cooperation. the organization
operates in a more team oriented manner.
Lean manufacturing
Ans: commitment to making an operation both efficient and effective.
emphasis is on quality, speed and flexibility more than on cost, efficiency
and hierarchy.
Time based competition
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Ans: strategies aimed at reducing the total time needed to deliver the
good or service.
Logistics
Ans: the movement of resources into the organization (inbound) and
products from the organization to its customers (outbound).
Concurrent engineering (aka simultaneous)
Ans: incorporates the issues and perspectives of all the functions from the
beginning of the process.
Human Resources Management (HRM)
Ans: Formal systems for the management of people within an organization
Customer relationship management (CRM)
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Ans: multifaceted process, typically mediated by a set of information
technologies, that focuses on creating two way exchanges with
customers so that firms have an intimate knowledge of their needs, wants
and buying patterns. helps companies understand and anticipate the
needs of current and potential customers. the use of BIG DATA.
Value Chain
Ans: the sequence of activities that flow from raw materials to the delivery
of a good or service, with additional value created at each step
research and development
Ans: focus on innovation and new products
inbound logistics
Ans: receive and store raw materials and distribute them to operations
operations
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Ans: transform the raw materials into the final product
outbound logistics
Ans: warehouse the product and handle its distribution
marketing and sales
Ans: identify customer requirements and get customers to purchase the
product
service
Ans: offers customer support (repairs etc) after the item has been bought.
total value
Ans: what customers are willing to pay
profit margin
C483 Questions and Correct Answers/
Latest Update / Already Graded
Benefits of implementing a total quality management system
Ans: characterized by a strong orientation towards all customers, and had
become an umbrella theme for organizing work. reorients managers
towards involving people across departments. there is continuous
improvement requiring integrative mechanisms that facilitate group
problem solving, information sharing and cooperation. the organization
operates in a more team oriented manner.
Lean manufacturing
Ans: commitment to making an operation both efficient and effective.
emphasis is on quality, speed and flexibility more than on cost, efficiency
and hierarchy.
Time based competition
,2 | Page
Ans: strategies aimed at reducing the total time needed to deliver the
good or service.
Logistics
Ans: the movement of resources into the organization (inbound) and
products from the organization to its customers (outbound).
Concurrent engineering (aka simultaneous)
Ans: incorporates the issues and perspectives of all the functions from the
beginning of the process.
Human Resources Management (HRM)
Ans: Formal systems for the management of people within an organization
Customer relationship management (CRM)
,3 | Page
Ans: multifaceted process, typically mediated by a set of information
technologies, that focuses on creating two way exchanges with
customers so that firms have an intimate knowledge of their needs, wants
and buying patterns. helps companies understand and anticipate the
needs of current and potential customers. the use of BIG DATA.
Value Chain
Ans: the sequence of activities that flow from raw materials to the delivery
of a good or service, with additional value created at each step
research and development
Ans: focus on innovation and new products
inbound logistics
Ans: receive and store raw materials and distribute them to operations
operations
, 4 | Page
Ans: transform the raw materials into the final product
outbound logistics
Ans: warehouse the product and handle its distribution
marketing and sales
Ans: identify customer requirements and get customers to purchase the
product
service
Ans: offers customer support (repairs etc) after the item has been bought.
total value
Ans: what customers are willing to pay
profit margin
