An interconnected and coordinated set of elements and processes that converts inputs to desired outputs
System
The ________ ____ considers all the steps in a process and " closes the loop" by providing feedback from the output of one cycle back to the input of the next cycle.
systems view
All the elements and processes that add value as raw materials are transformed into the final products made available to the ultimate customer
Value Chain
Contracting out certain business functions or operations to other companies
Outsourcing
Multidimensional networks of suppliers and outsourcing partners
Value Webs
Transferring part or all of a business function to a facility ( a different part of the company or another company entirely) in another country
Offshoring
A set of connected systems that coordinates the flow of goods and materials from suppliers all the way through to final customers
Supply Chain
The business procedures, policies, and computer systems that integrate the various elements of the supply chain into a cohesive system
Supply Chain Management
SCM
Supply Change Management
Determining the right quantities of supplies and products to have on hand and tracking where those items are
Inventory Control
The acquisition of the raw materials, parts, components, supplies, and finished products required to produce goods and services
Procurement
Overseeing all the activities involved in producing goods and services
Production and Operations Management
Establishing the overall level of resources needed to meet customer demand
Capacity Planning
In a PERT network diagram, the sequence of operations that requires the longest time to complete
Critical Path
Manufacturing systems that maximize productivity by reducing waste and delays
Lean Systems
Inventory management in which goods and materials are delivered throughout the production process right before they are needed
Just-In-Time ( JIT)
JIT
Just-In-Time
The creation of identical goods or services, usually in large quantities
Mass Production
The creation of a unique good or service for each customer
Customized Production
Manufacturing approach in which part of the product is mass produced and the remaining features are customized for each buyer
Mass Customization
The potential to increase production by expanding or replicating its initial production capacity
Scalability
Measuring quality against established standards after the good or service has been produced and weeding out any defective products
Quality Control
A more comprehensive approach of companywide policies, practices, and procedures to ensure that every product meets quality standards
Quality Assurance
Use of random sampling and control charts to monitor the production process
Statistical Process Control ( SPC)
SPC
Statistical Process Control
A management philosophy and strategic management process that focuses on delivering the optimal level of quality to customers by building quality into every organizational activity
Total Quality Management ( TQM)
TQM
Total Quality Management
A rigorous quality management program that strives to eliminate deviations between the actual and desired performance of a business system
Six Sigma
To close the loop in a system, it is necessary to provide ______.
A. feedback from the input of one cycle to the outputs of the next cycle
B. input to output in the same cycle
C. output to input in the same cycle
D. feedback from the input of one cycle to
E. feedback from the output of one cycle to the input of the next cycle
Computer simulations that help managers make business decisions are the basis of a related field known as __________.
A. systems programming
B. systems simulations
C. systems dynamics
D. dynamic simulations
E. simulation dynamics
C. systems dynamics
The point in a system where a small correction could improve performance is called the ____________.
A. crucial point
B. breaking point
C. point of no return
D. opportuinty point
E. leverage point
E. leverage point
All the processes and elements associated with transforming raw materials into a final product make up the ____________.
A. input/output continuum
B. value chain
C. supply chain
D. distribution system
E. changeover process
B. value chain
When G.E. Funds moved its customer call center from Connecticut to India, it was ________ that function.
A. longshoring
B. reproximationg
C. offshoring
D. nearshoring
E. dislocating
C. offshoring
_________ is determining how much of what to have on hand.
A. Enterprise resource planning
B. Radio frequency identification
C. Inventory management
D. Supply chain management
E. Statistical process control
C. inventory management
______ is a computer-based system that uses sales forecasts to make sure that the correct materials are where they are needed, when they are needed.
A. scalability
B. materials resource planning
C. Just-in-time production
D. lean manufacturing
E. Procurem
B. materials resource planning (MRP)
The sequence of activities that takes the longest time from start to finish in a PERT diagram is call the _______ path.
A. control
B. continuous
C. customized
D. crucial
E. critical
E. critical
Polar Refrigerator Co. reduces its inventory carrying costs by having their vendors deliver materials right before they are needed in the production process. This is an example of _____ inventory management.
A. critical path
B. ERP
C. PERT
D. lean
E. JIT
E. JIT
Mattel produces tens of thousands of Barbie Dolls in its factories every day, a process known as _________.
A. mass production
B. customized production
C. batch production
D. batch-of-one production
E. mass customization
A. mass production
mattox Wheel Co. pulls samples from its manufacturing line periodically and checks the product's tolerances against established standards. THis process is called ______.
A. Total Quality Mgmt (TQM)
B. statistical process control (SPC)
C. JIT quality
D. Si
B. statistical process control (SPC)
A system is an interconnected and coordinated set of _______ and _______ that converts inputs to desired outputs.
elements and processes
A bakery purchases flour, sugar, eggs and milk to make its specialty wedding cakes. The ingredients are the bakery's _____; the cakes are the bakery's _______.
inputs and outputs
Multidimensional networks of suppliers and outsourcing partners are called value _____.
web
The ______ chain focuses on collection materials and supplies with an emphasis on reducing waste and inefficiency.
supply