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Exercises

1) Timeliness refers to whether a product or service
A) Is not obsolete
B) Is produced without taking too much labor
C) Is uses exactly the correct amount of capacity
D) Created, delivered, and available when it is supposed to be
E) None of the above 2) Timeliness refers to whether a product or service
2) Value is sometimes thought of as:
A) Price/benefits
B) Benefits/price
C) Profit/price
D) Price/profit
3) There are very few manufacturers who do not also sell services because:
A) Services provide a way to differentiate products
B) Services are virtually free to add

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1) Timeliness refers to whether a product or service
A) Is not obsolete
B) Is produced without taking too much labor
C) Is uses exactly the correct amount of capacity
D) Created, delivered, and available when it is supposed to be
E) None of the above 2) Timeliness refers to whether a product or service
2) Value is sometimes thought of as:
A) Price/benefits
B) Benefits/price
C) Profit/price
D) Price/profit
3) There are very few manufacturers who do not also sell services because:
A) Services provide a way to differentiate products
B) Services are virtually free to add to products
C) Products, on their own, cannot be differentiated from one another
D) Most manufacturers started out as services
E) None of the above
4) ______ _______ provides the mechanism that obtains the correct resources, in the correct quantities, at the correct time, and at the lowest cost.
A) Inventory planning
B) Resource planning
C) Capacity planning
D) Aggregate planning
E) None of the above
5) Lean systems refers to
A) Systems with very little waste and low inventory
B) Systems that add very little value
C) Systems that outsource all processing steps
D) Systems that depend on external suppliers for capacity
E) None of the above
6) The profitability measure(s) that DO(ES) NOT compare(s) net income to a particular input are:
A) Profit margin
B) Return on assets
C) Return on equity
D) Economic Value Added
E) In the product/process matrix, the types of processes included
7) For operations, the most relevant global profitability measures are:
A) Profit margin and return on assets
B) Inventory turns and utilization
C) Utilization and efficiency
D) Return on equity and economic value added
8) Common approaches to measure customer loyalty include:
A) Collect data on sales to see what percentage of customers have made a previous purchase within a specified length of time
B) Track the sales associated with specific…

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