OM - Midterm Exam

Total Quality Management

• an enhancement to the way of doing business

• manage supply and demand

• tracks customers needs and wants

• the core of customer satisfaction

Productivity

• an enhancement to the way of doing business

• is an index that measures output relative to input used to produce a product

• tracks customers needs and wants

• the core of customer satisfaction

Tactics

• an enhancement to the way of doing business

• manage supply and demand

• tracks customers needs and wants

• the methods and actions used to accomplish a plan

Strategies

• an enhancement to the way of doing business

• manage supply and demand

• tracks customers needs and wants

• provides focus for decision making

Competitiveness

• an enhancement to the way of doing business

• a determining factor whether a company will succeed or not.

• tracks customers needs and wants

• the core of customer satisfaction

Inventory

• a list of all needed items for the company to sell or use for production

• manage supply and demand

• tracks customers needs and wants

• the core of customer satisfaction

Supply Chain

• a list of all needed items for the company to sell or use for production

• The flow of every aspect in a business

• tracks customers needs and wants

• the core of customer satisfaction

Quality

• an enhancement to the way of doing business

• the totality of features and characteristics to satisfy

• tracks customers needs and wants

• talks about the future

Forecasting

• an enhancement to the way of doing business

• the totality of features and characteristics to satisfy

• tracks customers needs and wants

• talks about the future

Customer Satisfaction

• an enhancement to the way of doing business

• manage supply and demand

• tracks customers needs and wants

• the core of quality