19.2 Bus. Mgmt

Which term refers to the process of overseeing and controlling the order, storage, and use of components that a company will use in the production of the items it will sell as well as the management of the quantities of finished products for sale?

• Human resources planning

• Production scheduling

• Quality management

• Inventory management

What is the term used for the strategy that focuses on improving a product's quality and reliability, often using statistical methods to identify and eliminate defects?

• Project management

• Quality management

• Computer-integrated manufacturing

• Human resources planning

Which term describes the planning of the workforce needs and the recruitment, selection, and training of employees to fulfill these needs?

• Inventory management

• Human resources planning

• Production scheduling

• Project management

What involves the use of computers in the integration of production processes, including design, manufacturing, and assembly?

• Quality management

• Human resources planning

• Computer-integrated manufacturing

• Inventory management

Which term is associated with the process of organizing, planning, directing, and controlling resources to achieve specific goals within a specified time frame?

• Project management

• Production scheduling

• Quality management

• Human resources planning

Which factor is NOT listed as important when locating a business?

• Availability of Raw Materials

• Proximity to government buildings

• Transportation Methods

• Labor Supply

What is considered a crucial economic factor when deciding on a business location?

• Economic and Legal Factors

• Cultural Preferences

• Technological Advancements

• Competitive Analysis

Which of the following is a factor in the cost considerations for a business location?

• Advertising Costs

• Supply and Cost of Energy and Water

• Employee Benefits

• Marketing Strategies

Which of the following is NOT a factor that a company’s manager must consider when locating the business?

• Availability of raw materials

• Transportation methods

• Marketing strategies

• Labor supply

What does inventory management in production planning involve?

• Estimating the cost of materials and labor

• Planning the quantities of materials and supplies needed for production

• Scheduling the delivery times for raw materials

• Calculating the profit margins on finished products