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Exam 8: Products and Services

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Question 21

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The development of a plan for converting a product idea into an actual product is called

A) design planning.
B) research and development.
C) product design.
D) operational planning.
E) planning horizon.

F) A) and C)
G) A) and B)

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Question 22

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In deciding on a product line, managers should balance ____ and product requirements.

A) convenience goods
B) specialty goods
C) customer preferences
D) demographics
E) last year's sales

F) C) and E)
G) D) and E)

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Question 23

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When a very large product that is hard to move is produced, a(n) ____ is used.

ABC Company ABC Company is dedicated to operations control.It holds its suppliers to the highest standards, believing there is one best way to complete their tasks.ABC has even gone so far as to incorporate the Malcolm Baldrige National Quality Award criteria into its business.Following these criteria has allowed the company to grow from a small business to a large corporation.ABC plans on going international in the next couple of years to broaden its scope. ABC has kept up with new technologies.In fact, it has incorporated a new computer system that helps with the development of the company's products.This system has improved ABC's production dramatically.Now, ABC will be able to sell its products at a lower cost.The ABC management is dedicated to total quality management and will do whatever is necessary to maintain quality now and for the future. -Refer to ABC Company.What chart could help ABC determine the best possible way to accomplish the tasks?

Research activities undertaken to put new or existing knowledge to use in producing goods and services are called

A set of activities intended to identify new ideas and technical advances that may result in new goods and services is called

When all products undergo the same operations in the same sequence, a(n) ____ is used.

Procter & Gamble, NCR, and Ford are all involved in ____, which involves bringing manufacturing jobs back to the nation.

The UK economy is now characterised as a(n) ____ economy.

A synthetic process combines raw materials or components to create a finished product.

One of the events of the critical path for producing a textbook is editing the manuscript.This means that if there is a delay in the editing process, there will be

The responsibility for monitoring schedules to ensure that the work flows according to schedule is called follow-up.

Technology that is characterisued by high initial costs and low operating costs is termed

Quality control is the process of ensuring that materials are at the right place at the right time.

Services differ from manufactured goods in all of the following ways except

Like many firms in the electronics industry, Godin Manufacturing experiences ups and downs in the demand for its high-tech products.To increase capacity during high-demand periods, management would do all of the following except

A system that plots data on control charts and graphs to identify and pinpoint problem areas is called

A computerised system that integrates production planning and inventory control is called

The amount of products or services an organisation can produce in a given time is known as its capacity.

During the process of operational planning, management must compare market demand with