4.02 MC Review - Business Essentials

Front

The operations function consists mainly of activities that are performed on a _______ basis.

Back

daily

Front

Which of the following is an example of one of a business's inputs: services, products, employees, goods?

Back

employees

Front

Operations managers have two main goals in mind - efficiency (keeping costs low) and

Back

effectiveness (keeping customers satisfied)

Front

The foundation of the operations function is

Back

production planning

Front

Which of the following is not a main factor in a business's site selection decision: community, media, costs, labor?

Back

media

Front

Which operations activity is also referred to as procurement? Options: logistics, inventory control, quality control, purchasing

Back

purchasing

Front

A clothing manufacturer checks one pair of pants out of every shipment to ensure the quality of its product. This is known as quality

Back

inspection

Front

A clothing manufacturer builds quality into its operating system, placing responsibility on each employee. This process is known as quality

Back

assurance

Front

The money it takes to keep inventory in stock is called a ________ cost.

Back

holding

Front

Running out of inventory can result in

Back

lost sales