GMS 401 EXAM PACKAGE DEAL QUESTIONS AND ANSWERS RATED A+

Blanket order - A long term purchase commitment to a supplier for items that are to be delivers against short term releases to ship make or buy decision - a choice between producing a component or service in house or purchasing it from an outside source Outsourcing - Transferring a firms activit...

American Society for Quality defines quality as: - the totality of features and characteristics of a product or service that bears on its ability to satisfy stated or implied needs. An operations manager's job is to: - build a total quality management system that identifies and satisfies custome...

. Productivity can be improved by a. increasing inputs while holding outputs steady b. decreasing outputs while holding inputs steady c. increasing inputs and outputs in the same proportion d. decreasing inputs while holding outputs steady e. none of the above - d. decreasing inputs while holdi...

Economic Analysis of Capital Investment Proposals - evaluation of alternative investments in plant and equipment requires inputs from both operations and finance people Non Profit Organizations - the value of outputs is their value to society, the greater the value added, the greater the efficien...

Steps to developing benchmarks - 1. determine what to benchmark 2. form a benchmark team 3. identify benchmarking partners 4. collect and analyze benchmarking information 5. take action to match or exceed the benchmark ISO 9000 - A set of quality standards developed by the International Organiz...

Natural variation - variability that affects every production process to some degree and is to be expected; also known as common cause Experience Differentiation - Engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product Productio...