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MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
[Mostrar más]MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
[Mostrar más]Theory of Constraints 
: 1) Identify the system's constraints 
2) Decide how to exploit the system's constraints 
3) Subordinate everything else to the above decision 
4) Elevate the system's constraints 
5) Do not allow inertia to cause a system constraint 
As ___________ decreases, Net Profit, ...
Vista previa 2 fuera de 10 páginas
Añadir al carritoTheory of Constraints 
: 1) Identify the system's constraints 
2) Decide how to exploit the system's constraints 
3) Subordinate everything else to the above decision 
4) Elevate the system's constraints 
5) Do not allow inertia to cause a system constraint 
As ___________ decreases, Net Profit, ...
Big three areas chart 
: Finance--> Material and Service Input-->Operations--> Product and Service 
Outputs-->Marketing--> Sales revenue--> back to finance 
Finance 
: Acquires financial resources and capital for inputs 
Operations 
: Translates materials and services into outputs...
Vista previa 3 fuera de 19 páginas
Añadir al carritoBig three areas chart 
: Finance--> Material and Service Input-->Operations--> Product and Service 
Outputs-->Marketing--> Sales revenue--> back to finance 
Finance 
: Acquires financial resources and capital for inputs 
Operations 
: Translates materials and services into outputs...
Operations management 
: The systematic design, direction, and control of processes that transforms inputs 
into serves and products for internal, as well as external, customers 
Process 
: any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mor...
Vista previa 3 fuera de 27 páginas
Añadir al carritoOperations management 
: The systematic design, direction, and control of processes that transforms inputs 
into serves and products for internal, as well as external, customers 
Process 
: any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mor...
Capacity 
: The max rate of output of a process or system 
What do long-term capacity plans involve? 
: Investments in new facilities and equip at the organizational level, and require 
top mgmt participation and approval bc they are not easily reversed 
When choosing a capacity strategy, what do m...
Vista previa 4 fuera de 35 páginas
Añadir al carritoCapacity 
: The max rate of output of a process or system 
What do long-term capacity plans involve? 
: Investments in new facilities and equip at the organizational level, and require 
top mgmt participation and approval bc they are not easily reversed 
When choosing a capacity strategy, what do m...
A Process View 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for its customers 
The Supply Chain View 
: Each activity in a process should add value to the preceding activities; waste 
and unnecessary cost should be elimina...
Vista previa 2 fuera de 13 páginas
Añadir al carritoA Process View 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for its customers 
The Supply Chain View 
: Each activity in a process should add value to the preceding activities; waste 
and unnecessary cost should be elimina...
A credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
Which of the following events from the twentieth century defines the history of...
Vista previa 4 fuera de 44 páginas
Añadir al carritoA credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
Which of the following events from the twentieth century defines the history of...
Complementary products 
: when one demand goes up, so does the other 
Judgement methods 
: contextual knowledge gained through experience 
Causal methods 
: Use historical data and the relationships can be identified between the 
dependent and independent variable (s). 
Time series methods 
: Use h...
Vista previa 2 fuera de 7 páginas
Añadir al carritoComplementary products 
: when one demand goes up, so does the other 
Judgement methods 
: contextual knowledge gained through experience 
Causal methods 
: Use historical data and the relationships can be identified between the 
dependent and independent variable (s). 
Time series methods 
: Use h...
Finance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Vista previa 2 fuera de 8 páginas
Añadir al carritoFinance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
capacity 
: maximum rate of output of a process or a system 
capacity management consists of: 
: capacity planning 
constraint management 
capacity planning 
: long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
constraint management 
: short ter...
Vista previa 2 fuera de 13 páginas
Añadir al carritocapacity 
: maximum rate of output of a process or a system 
capacity management consists of: 
: capacity planning 
constraint management 
capacity planning 
: long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
constraint management 
: short ter...
Operations management 
: The systematic design, direction, and control of processes that transform inputs 
into services and products for internal, as well as external, customers 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mo...
Vista previa 3 fuera de 16 páginas
Añadir al carritoOperations management 
: The systematic design, direction, and control of processes that transform inputs 
into services and products for internal, as well as external, customers 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mo...
inventory management 
: the planning and controlling of inventories in order to meet the competitive 
priorities of the organization 
inventory 
: a stock of materials used to satisfy customer demand or to support the 
production of services or goods 
pressures for small inventories 
: -inventory ...
Vista previa 2 fuera de 13 páginas
Añadir al carritoinventory management 
: the planning and controlling of inventories in order to meet the competitive 
priorities of the organization 
inventory 
: a stock of materials used to satisfy customer demand or to support the 
production of services or goods 
pressures for small inventories 
: -inventory ...
Finance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Vista previa 2 fuera de 13 páginas
Añadir al carritoFinance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Break Even Analysis 
: Analysis to compare processes by finding the volume at which two different 
processes have equal total costs. 
pQ = F + cQ 
Break Even Quantity 
: The volume at which total revenues equal total costs. 
Variables for Break Even 
: Variable cost (c) 
The portion of the total co...
Vista previa 3 fuera de 22 páginas
Añadir al carritoBreak Even Analysis 
: Analysis to compare processes by finding the volume at which two different 
processes have equal total costs. 
pQ = F + cQ 
Break Even Quantity 
: The volume at which total revenues equal total costs. 
Variables for Break Even 
: Variable cost (c) 
The portion of the total co...
Acquires financial resources and capital for inputs 
: Finance 
Generates sales of outputs 
: Marketing 
Translates materials and services into outputs 
: Operations 
Any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs
Vista previa 2 fuera de 10 páginas
Añadir al carritoAcquires financial resources and capital for inputs 
: Finance 
Generates sales of outputs 
: Marketing 
Translates materials and services into outputs 
: Operations 
Any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs
For what organizational decisions are demand forecasts used? 
: -long term(general forecast) 
-intermediate term(product family/service lines) 
-short term(detailed) 
What are the costs/risks of forecasts that are too high or too low? 
: Too high: 
-surplus of inventory 
-price markdown(blackfri.) 
...
Vista previa 2 fuera de 14 páginas
Añadir al carritoFor what organizational decisions are demand forecasts used? 
: -long term(general forecast) 
-intermediate term(product family/service lines) 
-short term(detailed) 
What are the costs/risks of forecasts that are too high or too low? 
: Too high: 
-surplus of inventory 
-price markdown(blackfri.) 
...
the planning and controlling of inventories in order to meet the competitive priorities of 
the organization 
: inventory management 
a stock of materials used to satisfy customer demand or to support the production of 
services or goods 
: inventory 
-inventory holding cost 
-cost of capital 
-st...
Vista previa 3 fuera de 17 páginas
Añadir al carritothe planning and controlling of inventories in order to meet the competitive priorities of 
the organization 
: inventory management 
a stock of materials used to satisfy customer demand or to support the production of 
services or goods 
: inventory 
-inventory holding cost 
-cost of capital 
-st...
a prediction of future events used for planning purposes 
: forecast 
the repeated observations of demand for a service or product in their order of 
occurrence 
: time series 
nearly flat over time 
: time series pattern: horizontal 
consistently rising or falling 
: time series pattern: trend 
2 ...
Vista previa 3 fuera de 24 páginas
Añadir al carritoa prediction of future events used for planning purposes 
: forecast 
the repeated observations of demand for a service or product in their order of 
occurrence 
: time series 
nearly flat over time 
: time series pattern: horizontal 
consistently rising or falling 
: time series pattern: trend 
2 ...
Finance--> Material and Service Input-->Operations--> Product and Service Outputs-- 
>Marketing--> Sales revenue--> back to finance 
: Big three areas chart 
Acquires financial resources and capital for inputs 
: Finance 
Translates materials and services into outputs 
: Operations...
Vista previa 3 fuera de 24 páginas
Añadir al carritoFinance--> Material and Service Input-->Operations--> Product and Service Outputs-- 
>Marketing--> Sales revenue--> back to finance 
: Big three areas chart 
Acquires financial resources and capital for inputs 
: Finance 
Translates materials and services into outputs 
: Operations...
A demand management option for a company is to even out the load on resources by 
producing ___________ products, or services that have similar resource requirements 
but different demand cycles. 
A. Prescheduled products 
B. Promotional Products 
C. Backlog products 
***D. Complementary products...
Vista previa 4 fuera de 40 páginas
Añadir al carritoA demand management option for a company is to even out the load on resources by 
producing ___________ products, or services that have similar resource requirements 
but different demand cycles. 
A. Prescheduled products 
B. Promotional Products 
C. Backlog products 
***D. Complementary products...
The max rate of output of a process or system 
: Capacity 
Investments in new facilities and equip at the organizational level, and require top mgmt 
participation and approval bc they are not easily reversed 
: What do long-term capacity plans involve? 
How much of a cushion is needed for variable...
Vista previa 4 fuera de 45 páginas
Añadir al carritoThe max rate of output of a process or system 
: Capacity 
Investments in new facilities and equip at the organizational level, and require top mgmt 
participation and approval bc they are not easily reversed 
: What do long-term capacity plans involve? 
How much of a cushion is needed for variable...
maximum rate of output of a process or a system 
: capacity 
capacity planning 
constraint management 
: capacity management consists of: 
long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
: capacity planning 
2 | P a g e 
short term 
TOC 
iden...
Vista previa 3 fuera de 16 páginas
Añadir al carritomaximum rate of output of a process or a system 
: capacity 
capacity planning 
constraint management 
: capacity management consists of: 
long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
: capacity planning 
2 | P a g e 
short term 
TOC 
iden...
The systematic design, direction, and control of processes that transforms inputs into 
serves and products for internal, as well as external, customers 
: Operations management 
any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs f...
Vista previa 4 fuera de 33 páginas
Añadir al carritoThe systematic design, direction, and control of processes that transforms inputs into 
serves and products for internal, as well as external, customers 
: Operations management 
any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs f...
A credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
2 | P a g e 
Which of the following events from the twentieth century defines t...
Vista previa 4 fuera de 57 páginas
Añadir al carritoA credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
2 | P a g e 
Which of the following events from the twentieth century defines t...
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