Operations Management

Is this your test? Login to manage it. If not, you can generate an exam just like it.

1.
1 point
Most important factor while deciding the location of a retail store is _____________
2.
1 point
The characteristics of a firm that distinguishes it from its competition so that it is selected as the source of purchase
3.
1 point
A firm’s process strategy defines its Vertical integration i.e., the extent to which the firm will produce the inputs and control the outputs of each stage of the production process
4.
1 point
In case of inorganic chemical production the type of utility/utilities provided to the customer is /are ________
5.
1 point
_________________ take a long time to complete, involve a large investment of funds and resources, and produce one item at a time to consumer order. Examples include construction projects, shipbuilding, new-product development, and aircraft manufacturing
6.
1 point
Cost, Quality, Time and _________ are the competitive priorities.
7.
1 point
Operations Management is the management of conversion process which converts outputs such as finished goods into inputs such as raw materials
8.
1 point
______________ produces large volumes of a standard product for a mass market. Product demand is stable, and product volume is high. Examples include automobiles, televisions, personal computers, fast food, and most consumer goods
9.
1 point
_________________ is used for very high-volume commodity products that are very standardized.
The system is highly automated and is typically in operation continuously 24 hours a day. Refined oil, treated water, paints, chemicals, and foodstuffs are produced by this type of production process
10.
1 point
Process flow chart is a document that uses standardized symbols to chart the productive and nonproductive flow of activities involved in a process
11.
1 point
Which of the following is correct formula.
12.
1 point
By equating total revenue with total cost and solving for volume v, we can find the volume at which profit is zero. This is called the breakeven point. At any volume above the breakeven point, we will make a loss.
13.
1 point
The components of Break even analysis are cost, volume, revenue and profit
14.
1 point
Competitive priorities are the factors on which the firm wants to achieve competitive advantage.
15.
1 point
Variable costs remain constant regardless of the number of units produced, such as plant and equipment and other elements of overhead
16.
1 point
Services are tangible , can be inventoried and have very low customer contact
17.
1 point
Product design, process selection and site selection are the long time horizon jobs of operations management
18.
1 point
After calculating the point of indifference between two alternative processes (i.e., the volume at
which the total cost of manufacturing is the same for the two processes) Above the point of indifference we need to choose the alternative with the lowest variable cost. And below the point of indifference choose the alternative with the lowest fixed cost.
19.
1 point
______________________ processes many different jobs through the production system at the same time
in groups Products are typically made to customer order, volume (in terms of customer order size) is low, and demand fluctuates. Examples include printers, bakeries,machine shops, education and furniture making.
20.
1 point
Operations management’s transformation role involves adding value and providing effective and efficient transformation process
21.
1 point
Operations Management is related only to manufacturing of physical goods and not to services