![]() Question: _ is the creation of goods and services using land, labor, capital, entrepreneurship, and knowledge. obtains computer components from a variety of suppliers and puts them together according to customer specifications to create custom-made computers. Manufacturers often seek to reduce time-to-market by locating facilities in areas with access to key modes of transportation Recent changes in information technology have led firms to favor locations near major urban areas Question: Unlike an assembly line where workers perform only a few tasks, in a _ layout, teams of workers combine to perform a variety of tasks needed to produce more complex units of a final product. Question: In a just-in-time inventory system, suppliers.Īnswer: become more like a department in the producing firm rather than a separate business. Question: To reduce the cost of holding too much inventory, many companies have implemented Question: The first step in the development of a PERT chart isĪnswer: analyzing the tasks and determining the sequence in which they must be performed. Question: _ is the specialized area of management that converts or transforms resources into goods and services. Question: A firm would be most likely to employ statistical process control (SPC) if it wanted toĪnswer: make sure products meet quality standards all along the production process. ![]() Question: _ standards are concerned with the best practices for managing an organization's environmental impacts. Question: In _, materials are physically or chemically changed to produce a product.Īdvances in information technology will give firms more flexibility in their location decisions by reducing the need to locate close to sources of labor Question: A benefit of CAD (Computer Aided Design) and CAM (Computer Assisted Manufacturing) isĪnswer: it permits customization without a significant increase in price. Question: In today's quality control programs, emphasis is placed on Question: In a PERT network, the sequence of tasks that takes the longest to complete is called the Question: The goal of lean manufacturing is toĪnswer: produce goods and services with less of everything that goes into the process.
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