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WorksheetsMIDTERM EXAMS
Total questions: 58
Worksheet time: 59mins
Normally, it is subjective in nature, which sometimes disregards numerical description.
(a)
It is a time-ordered arrangement of observations taken on a regular interval.
(a)
The simplest way to forecast is to assume that the demand in the next period will be equivalent to the demand in the past recent period.
(a)
Refers to any safe keeping units which primarily use for production or it may be referred to any finished goods that are stock for future use.
(a)
It means the ratio of average cost of goods sold to the average inventory investment.
(a)
Pertains to the physical count of items in inventory made at periodic intervals like weekly or monthly.
(a)
It is an electronically records of sales.
(a)
Is concerned with the determination, acquisition and engagement of all facilities necessary for future operations.
(a)
Is a system of routine technical activities, to measure and control the quality of the inventory as it is being developed.
(a)
This function can be done through dispatching.
(a)
Some of the companies tend to buy competitor’s products in order for them to examine and dismantle it and eventually searching for new ways to improve the said product.
(a)
Is also another source of new ideas for improving products and services or innovating new one.
(a)
Is an independent, non-governmental international organization that promotes global proprietary, industrial and commercial standards. INTERNATIONAL ORGANIZATION FOR STANDARDIZATION OD ISO
(a)
Is a proof of evidence from the third party of from the certifying body that the certain organization successfully comply with an ISO management standard.
(a)
Is an approach which aims to enhance the traditional way of doing business.
(a)
It is how effectively the organization encounters the needs and wants of the customers relating to other organization that is offering the same good or services.
(a)
It entails the strategy of differentiating the products and services offered by the firm, or creating something that perceived throughout the industry or being unique in some ways.
(a)
Provides focus on the organizations’ decision-making process.
(a)
Are methods and actions that the organization needs to undergo in order to fulfill the strategy of the firm.
(a)
Management is defined as an application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
TRUE
FALSE
NONE OF THE ABOVE
Project is a temporary undertaking which has specific start and ending that also include financial resources.
TRUE
FALSE
NONE OF THE ABOVE
Scope refers to the list of deliverables or types that need to be done or agreed upon.
TRUE
FALSE
NONE OF THE ABOVE
It is important that marketing and operation works together in order to translate customers’ needs and wants into a certain product or service desires.
TRUE
FALSE
NONE OF THE ABOVE
Operations and finance should enhance existing products and services.
TRUE
FALSE
NONE OF THE ABOVE
Production, HR and engineering will then coordinate with one another to design prototypes and eventually test it.
TRUE
FALSE
NONE OF THE ABOVE
Marketing and engineering will then translate the product and service specifications into process specifications.
TRUE
FALSE
NONE OF THE ABOVE
Quality is the ability of the product or service to meet customer needs.
TRUE
FALSE
NONE OF THE ABOVE
Quality Assurance is the process or a set of procedures that the main objectives is to ensure that the manufacturers are producing products or the service providers are delivering services in accordance to the determined set of quality.
TRUE
FALSE
NONE OF THE ABOVE
Quality Planning refers to the collective effort of every individual inside the organization to make the quality of products and services better.
TRUE
FALSE
NONE OF THE ABOVE
A Cause and Effect Diagram is a tool that helps identify, sort, and display possible causes of a specific problem or quality characteristics.
TRUE
FALSE
NONE OF THE ABOVE
The goal of inspection is to immediately detect all bad processes.
TRUE
FALSE
NONE OF THE ABOVE
Operations Management is the set of activities that relates to the creation of goods and services through the transformation of raw materials to finished products.
TRUE
FALSE
NONE OF THE ABOVE
Studying marketing management delivers understanding about how operations managers work based on the key roles and responsibilities.
TRUE
FALSE
NONE OF THE ABOVE
Production are those economic activities that typically produce an intangible product.
TRUE
FALSE
NONE OF THE ABOVE
Production control is a part of management which plans, directs and controls the materials, supply and processing activities of manufacturing company.
TRUE
FALSE
NONE OF THE ABOVE
Purchasing Cost is the amount paid to buy the inventory.
TRUE
FALSE
NONE OF THE ABOVE
Inventory Cost are costs of ordering and receiving inventory.
TRUE
FALSE
NONE OF THE ABOVE
Holding Cost are costs to carry an item in inventory for a length of time, usually in a period of year.
TRUE
FALSE
NONE OF THE ABOVE
Shortage Cost are costs resulting when demand exceeds the supply of inventory.
TRUE
FALSE
NONE OF THE ABOVE
Innovation entails low variations on products and services and a high volume of goods which results in maximizing the resources through organizations’ system.
TRUE
FALSE
NONE OF THE ABOVE
Service variety affects location planning, design for product and services as well as processes, outsourcing decisions, waste management and return policies.
TRUE
FALSE
NONE OF THE ABOVE
High quality involves higher initial cost for product and service design, and ensuring high quality from suppliers.
TRUE
FALSE
NONE OF THE ABOVE
Quick response involves high flexibility, higher level of inventories, and extra capacity.
TRUE
FALSE
NONE OF THE ABOVE
Balanced Scorecard is a way of looking at your business that concentrates on the bigger picture of an organization’s strategic goals.
TRUE
FALSE
NONE OF THE ABOVE
Internal Business Processes gives you the viewpoint of the overall corporate culture in terms of the know-how of the employees on the current trends in market.
TRUE
FALSE
NONE OF THE ABOVE
Yield Management pertains to the percentage of the capacity being used by the organization in order to stock goods/products.
TRUE
FALSE
NONE OF THE ABOVE
Planning the system particularly involves long range forecasts wherein it tackles the innovation of product and services.
TRUE
FALSE
NONE OF THE ABOVE
The forecast and technique to be use must be simple to understand and use.
TRUE
FALSE
NONE OF THE ABOVE
Average errors pertain to the difference between the forecasted units/values and the actual value in a given period of time.
TRUE
FALSE
NONE OF THE ABOVE
The 3 Reasons of Companies to Recycle
The 3 Factors to consider in the Production Requirements
The 3 Concepts that misinterpretation on the Project Management
The 5 Tools needed to consider in Risk Management
Give at least 5 out of 8 Dimensions of Quality
The 5 Different Functions of Operations Management
The3 Reasons for using Fixed-Order-Interval Model
The 3 Equations/Measurement used to Summarized Forecast Errors
Pertains to the planning of future sales, earnings, revenue, cost and other variables that can be used to help the firm’s operation.
(a)
