With regard to operations strategy, organization strategy should, ideally, take into account:
A. Remove communications barriers within organizations.
B. Minimize attention to the operations function.
C. Put less emphasis on short-term financial results.
D. Recognize labor as a valuable asset and act to develop it.
E. Improve quality.
A. operations' strengths and weaknesses.
Formulation of organization strategy should take into account the realities of operations' strengths and weaknesses, capitalizing on strengths and dealing with weaknesses.
Which of the following is not typically considered a cure for poor competitiveness?
A. Remove communications barriers within organizations.
B. Minimize attention to the operations function.
C. Put less emphasis on short-term financial results.
D. Recognize labor as a valuable asset and act to develop it.
E. Improve quality.
B. Minimize attention to the operations function.
Operations is a prime area for improving competitiveness.
Time-based approaches of business organizations focus on reducing the time to accomplish certain necessary activities. Time reductions seldom apply to:
A. product/service design time.
B. processing time.
C. delivery time.
D. response time for complaints.
E. internal audits.
E. internal audits.
Internal audits have little to do with core value-adding efforts.
The external elements of SWOT analysis are:
A. strengths and weaknesses.
B. strengths and threats.
C. opportunities and threats.
D. weaknesses and opportunities.
E. strengths and opportunities.
C. opportunities and threats.
Opportunities and threats relate to the organization and its external environment.
In an assembly operation at a furniture factory, six employees assembled an average of 450 standard dining chairs per five-day week. What is the labor productivity of this operation?
A. 90 chairs/worker/day
B. 20 chairs/worker/day
C. 15 chairs/worker/day
D. 75 chairs/worker/day
E. 60 chairs/worker/day
C. 15 chairs/worker/day
Divide the output of 450 chairs by the inputs of 30 worker-days.
Which of the following is not a reason for poor performance of our organization in the marketplace?
A. placing too much emphasis on product/service design and too little on process design
B. failing to take into account customer wants and needs
C. putting too much emphasis on short-term financial performance
D. taking advantage of strengths/opportunities, and recognizing competitive threats
E. failing to monitor the external environment
D. taking advantage of strengths/opportunities, and recognizing competitive threats
Taking advantage of strengths/opportunities and recognizing competitive threats would enable good performance.
Terms in this set (116)
OriginalAlphabetical
long
The Delphi method and executive opinion methods are often used for ___-range planning.
short
Moving averages and exponential smoothing are essentially ___-range techniques, since they produce forecasts for the next period.
relatives indexes
The seasonal percentages in the multiplicative model are referred to as seasonal ___ or seasonal ___.
Focus forecasting
Developed by Bernard T. Smith. It involves the use of several forecasting methods all being applied to the last few months of historical data after irregular variations are removed. The method that has the highest accuracy is then used to make the forecast for the next month. This process is used for each product or service, and is repeated monthly.
Naive
A forecast for any period that equals the previous period's actual value /or/ uses a single previous value of a time series as the basis of a forecast.
Time series
Forecasts that project past experience, or patterns identified, into the future; assumption is that the future will be like the past.
Forecast error
___ ___ is the difference between the value that occurs and the value that was predicted for a given time period.
Monitor errors.
The 6 basic steps of forecasting: Determine purpose; Establish time horizon; Obtain, clean, and analyze appropriate data; Select a forecasting technique; Make the forecast; ___ and ___ the forecast
Flexible
___ business organizations require a shorter forecasting horizon, benefiting from more accurate short-range forecasts, than less flexible competitors using longer forecast horizons.
accurate
Short-range forecasts must contend with fewer uncertainties than longer-range forecasts, so they tend to be more ___.
accuracy
Two important aspects of forecasts are: 1. expected level of demand, 2. degree of ___ that can be assigned to a forecast
