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GMS 401 Final exam Complete Questions and Solutions(GRADED A)
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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...

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  • 11 september 2024
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  • gms 401 final exam complete questions and solutio
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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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