GMS 401 Final exam Complete Questions and Solutions(GRADED A)
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Course
GMS 401
Institution
GMS 401
Production - ANSWER the creation of goods and services
Operations Management - ANSWER Activities that relate to the creation of goods and services through the transformation of inputs to outputs
Supply chain - ANSWER A global network of organizations and activities that supply a firm with goo...
GMS 401 Final exam Complete
Questions and
Solutions(GRADED A)
Production - ANSWER the creation of goods and services
Operations Management - ANSWER Activities that relate to the creation of goods and
services through the transformation of inputs to outputs
Supply chain - ANSWER A global network of organizations and activities that supply a
firm with goods and services
Services - ANSWER Economic activities that typically produce an intangible product
(such as education, entertainment, lodging, government, financial, and health services)
Service sector - ANSWER the segment of the economy that includes trade, financial,
lodging, education, legal, medical, and other professional occupations
Management process - ANSWER the application of planning, organizing, staffing,
leading, and controlling to the achievement of objectives
Differentiation - ANSWER distinguishing the offerings of an organization in a way that
the customer perceives as adding value
Experience Differentiation - ANSWER Engaging a customer with a product through
imaginative use of the five senses, so the customer "experiences" the product
Low cost leadership - ANSWER achieving maximum value, as perceived by the
customer
Response - ANSWER a set of values related to rapid, flexible, and reliable performance
Mission - ANSWER the purpose or rationale for an organization's existence
Strategy - ANSWER how an organization expects to achieve its missions and goals
Productivity - ANSWER the ratio of outputs (goods and services) divided by one or
more inputs (such as labour, capital or management)
Single factor Productivity - ANSWER Indicates the ratio of one resource (input) to the
goods and services produced (outputs).
, Virtual reality - ANSWER a visual form of communication in which images substitute for
reality and typically allow the user to respond interactively
Value analysis - ANSWER a review of successful products that takes place during the
production process
Process-Chain-Network (PCN) Analysis - ANSWER analysis that focuses on the ways
in which processes can be designed to optimize interaction between firms and their
customers
Process chain - ANSWER a sequence of steps that accomplishes an identifiable
purpose (of providing value to process participants)
Quality Function Deployment (QFD) - ANSWER A process for determining customer
requirements (customer "wants") and translating them into the attributes (the "hows")
that each functional area can understand and act on.
House of quality - ANSWER a part of the quality function deployment process that
utilizes a planning matrix to relate customer wants to how the firm is going to meet
those wants
Product development teams - ANSWER teams charged with moving from market
requirements for a product to achieving product success
Concurrent Engineering - ANSWER use of participating teams in design and
engineering activities
Process (or transformation) strategy - ANSWER an organization's approach to
transforming resources into goods and services
Process focus - ANSWER a production facility organized around processes to facilitate
low volume high variety production
Repetitive process - ANSWER A product-oriented production process that uses
modules
Modules - ANSWER parts or components of a product previously prepared, often in a
continuous process
Product focus - ANSWER a facility organized around products; a product-oriented, high-
volume, low-variety process
Mass customization - ANSWER rapid, low-cost production that caters to constantly
changing unique customer desires
Build-to-order (BTO) - ANSWER Produce to customer order rather than to a forecast
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