M2 and M5 Review

What is the primary goal of lean production?

• Increasing production costs
• Maximizing waste
• Greater efficiency and less waste
• Increasing inventory levels

Which production method is best suited for customized, one-of-a-kind products?

• Mass production
• Job production
• Batch production
• Flow production

What is kaizen?

• A quality control standard
• Continuous improvement
• A location strategy
• Break-even analysis

Which of the following is NOT a feature of Total Quality Management (TQM)?

• Customer focus
• Employee involvement
• Minimal quality checks
• Continuous improvement

What is reshoring?

• Moving production to another country
• Bringing production back to the home country
• Hiring external contractors
• Expanding overseas operations

Which of the following is a component of break-even analysis?

• Market share calculation
• Margin of safety
• Employee satisfaction metrics
• Competitor analysis

What is the main advantage of Just-in-Time (JIT) production?

• Large inventory stockpiles
• Higher storage costs
• Reduced waste and inventory costs
• Slower production times

Which production method allows for standardization while meeting individual customer preferences?

• Mass customization
• Batch production
• Job production
• Flow production

What is benchmarking in quality management?

• Setting production quotas
• Comparing performance against industry leaders
• Measuring employee productivity
• Calculating break-even points

Which factor is NOT typically considered in production location decisions?

• Labor costs
• Transportation infrastructure
• Competitor's marketing strategies
• Proximity to raw materials