Modern Firms

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1. Modern firms increasingly rely on other firms to supply goods and services instead of doing these tasks themselves. This increased level of _____________ is leading to increased emphasis on ____________ management. Operations

• outsourcing; supply chain

• offshoring; lean

• downsizing; total quality

• optimizing; inventory

• internationalization; intercultural

2. Product design and choice of location are examples of _______ decisions Operations

• strategic

• tactical

• operational

• customer focused

• design

3. Which of the following features would not generally be considered common to all forecasts? Operations

• Assumption of a stable underlying causal system

• Actual results will differ somewhat from predicted values.

• Historical data is available on which to base the forecast.

• Forecasts for groups of items tend to be more accurate than forecasts for individual items.

• Accuracy decreases as the time horizon increases.

4. One way to increase reliability is to: Operations

• eliminate backup component

• improve preventive maintenance procedures

• increase mean repair time

• increase the number of independent components

• none of the above

5. Maximum capacity refers to the upper limit of: Operations

• inventories

• demand

• supplies

• rate of output

• finances

6.Ergonomics is the use of computers and robots in the workplace. Operations

• True

• False

7.One disadvantage of specialization is worker dissatisfaction. Operations

• True

• False

8. Location decisions are basically one-time decisions usually made by new organizations. Operations

• True

• False

9. Advanced communications has aided globalization. Operations

• True

• False

10. An organization achieves quality by consistently meeting their competitor's standards. Operations

• True

• False

11. Decision criteria Quantitative Techniques - TOPIC: Problem solving and decision making

• are the choices faced by the decision maker.

• are the problems faced by the decision maker.

• are the ways to evaluate the choices faced by the decision maker.

• must be unique for a problem.

12. A list of all possible outcomes of an experiment is called Quantitative Techniques - TOPIC: Sample space

• the sample space.

• the sample point.

• the experimental outcome.

• the likelihood set.

13. A numerical description of the outcome of an experiment is Quantitative Techniques - TOPIC: Random variables

• a normal variable.

• a discrete variable

• a random variable.

• an experimental variable.

14.