Test: Operations Management

_____ is the management of the production conversion process for both goods and services.

• Total quality control
• Manufacturing
• Operations management
• Specialization
• Functional management

What is the primary objective of operations management?

• Maximizing marketing exposure
• Increasing employee benefits
• Transforming inputs into outputs efficiently
• Outsourcing all processes

_____ is the combining of natural resources, human resources, and capital to produce goods and services.

• Production
• Marketing
• Specialization
• Utilization
• Mechanization

The ability to manufacture many goods at once is called _____ production.

• general
• mass
• centralized
• open
• aggregated

The physical arrangement of a production facility is called its:

• capacity
• layout
• process
• resources
• plat

The purchasing function, sometimes called _____, is an important part of any firm's production strategy.

• delivery
• coordination
• buying procedure
• procurement
• recruitment

Inventory management performs all of the following tasks EXCEPT:

• ordering
• receiving
• selling
• storing
• counting

The goal of inventory management is to:

• hold down costs and maintain accurate levels of inventory
• buy as much as possible
• hold as much as possible in stock
• always buy the cheapest raw material
• maintain quality control

Which inventory model gives the ideal quantity of stock to minimize costs using a formula?

• Continuous Review System
• ABC Analysis
• Just-in-Time (JIT)
• Economic Order Quantity (EOQ)

Which inventory model categorizes inventory items based on their value and importance?

• Continuous Review System
• ABC Analysis
• Just-in-Time (JIT)
• Economic Order Quantity (EOQ)