MGSC 395: EXAM Updated Questions with 100% Correct Answers | Latest & Verified Bundles

Operations management - CORRECT ANSWER-The systematic design, direction, and control of processes that transform inputs into services and products for internal, as well as external, customers Process - CORRECT ANSWER-Any activity or group of activities that takes one or more inputs, transforms t...

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. - CORRECT ANSWER-A. Prescheduled products B. Promotional Products C. Backlog products ***D. Compleme...

definition of supply chain - CORRECT ANSWER-an interrelated series of processes within and across firms that produces a service or product to the satisfaction of customers the big 3 areas of business - CORRECT ANSWER-finance - acquires financial resources and capital for inputs marketing - gene...

Big three areas chart - CORRECT ANSWER-Finance--> Material and Service Input-->Operations--> Product and Service Outputs-->Marketing--> Sales revenue--> back to finance Finance - CORRECT ANSWER-Acquires financial resources and capital for inputs Operations - CORRECT ANSWER-Tra...

If "every process and every person in an organization has customers," then - CORRECT ANSWER-some customers are external and some are internal. SSS is a local restaurant serving the needs of college students, faculty, and staff. The manager is considering adding a website so carry-out customers ...

Bottlenecks exist in which type of manufacturing processes? - CORRECT ANSWER-Job process, batch process, line process The theory of constraints methods increases the firms profits more effectively by focusing on what - CORRECT ANSWER-making materials flow rapidly through the entire system The t...

Bottlenecks exist in which type of manufacturing processes? - CORRECT ANSWER-Job process, batch process, line process The theory of constraints methods increases the firms profits more effectively by focusing on what - CORRECT ANSWER-making materials flow rapidly through the entire system The t...

Operations Management - CORRECT ANSWER-the processes that effectively produce, transform, and deliver a product or service Operations Strategy - CORRECT ANSWER-cost, quality, delivery, flexibility companies determine what they want to provide their customers and then design and manage supply cha...

Bottlenecks exist in which type of manufacturing processes? - CORRECT ANSWER-job process, batch process, line process What is the name of the product mix decision method that takes advantage of the principles outlined in the theory of constraints? - CORRECT ANSWER-the traditional method The the...

The theory of constraints methods increase the firm's profits more effectively by focusing on what? - CORRECT ANSWER-making materials flow rapidly through the entire system The theory of constraints defines inventory as - CORRECT ANSWER-all the money invested in a system in purchasing things th...

Sales and Operations Plan (S&OP) is done _______ - CORRECT ANSWER-monthly Master Plan Schedule (MPS) is done _________ - CORRECT ANSWER-weekly The Schedule is done _________ - CORRECT ANSWER-daily In the levels in operations planning and scheduling, which level is the closest to the customers, ...

Chapter 8: Forecasting - CORRECT ANSWER-- Understand demand management - Understand the difference between dependent and independent variables - Interpret R-squared in the regression output - Calculations: MAPE and MAD; along with forecasting using trend equation, moving average, and exponentia...

demand forecasting is used as the basis for all planning, up and down the organization demand forecasting is one of the critical inputs into business success Financial plans plans for the year(s) – The demand is the basis for the business plan and drives nearly all other categories investme...

goal of forecasting - CORRECT ANSWER-what demand will be in period 1 made prior to period 1 time series data - CORRECT ANSWER-repeated time ordered observations of important quantity MA3 - CORRECT ANSWER-3 period moving ABC product analysis - CORRECT ANSWERbest order size depends on - CORRECT A...