QUESTION Which of the following includes a grouping of various types of machinery, a common materials handler, and a computer to control the production of a family of parts or products? A. Specialized asset B. Dynamic capability C. Turnkey project D. Flexible machine cell E. Just-in-time inventory ANSWER D
Date: September 3rd, 2020
QUESTION Champion Works Inc. is an animation company, headquartered in the United States. The CEO of the company has decided to outsource some of the production to companies in developing countries, as the firm seems to be losing out on its competitive advantage. This decision to shift functions or processes to less developed countries is […]
Date: September 3rd, 2020
QUESTION Which of the following is a consequence of changes in exchange rates that result in appreciation of the local currency? A. More foreign direct investment into the country B. Decrease in the dollar cost of products exported from the country C. Diminishing of a country’s attractiveness as a manufacturing base D. Transformation of the […]
Date: September 3rd, 2020
QUESTION An important objective shared by both production and logistics functions of an international firm is to: A. increase profits by lowering quality. B. increase foreign competition. C. lower costs by dispersing production activities. D. decrease inventory turnover. E. stock excess inventory on hand. ANSWER C
Date: September 3rd, 2020
QUESTION Which of the following location externalities is favorable for foreign direct investment in a country? A. Presence of supporting industries B. Market with many other foreign competitors C. Lack of intellectual property rights laws D. Presence of a communist political system E. Appreciation of local currency ANSWER A
Date: September 3rd, 2020
QUESTION A second strategic objective shared by production and supply chain management is to increase product quality. In this context, quality means: A. affordability. B. flexibility. C. reliability. D. adaptability. E. patentability. ANSWER C
Date: September 3rd, 2020
QUESTION Uniway Technologies Inc. has based its manufacturing units in the country of Lanthania. The country’s stable economic and political environment has helped the firm gain competitive advantage by lowering its production costs and improving product quality. Other things being equal, the benefits realized from such a strategy can be typically referred to as: A. […]
Date: September 3rd, 2020
QUESTION The effect of improved quality control is to lower the costs of value creation by reducing production costs and: A. decreasing inventory turnover. B. decreasing after-sales service costs. C. increasing scrap costs. D. increasing warranty costs. E. increasing time spent on fixing defects. ANSWER B
Date: September 3rd, 2020
QUESTION Manufacturing firms should typically aim at lowering the costs of value creation by: A. decreasing inventory turnover. B. stocking huge amounts of inventory. C. lowering the quality of products. D. increasing after-sales services cost. E. reducing production costs. ANSWER E
Date: September 3rd, 2020
QUESTION Which of the following is a statistically based methodology for improving product quality and a direct descendant of the total quality management philosophy, and is the principal tool that most managers now use to increase the reliability of their product offering? A. Six Sigma B. Lean manufacturing C. Just-in-time inventory D. ISO 9000 E. […]
Date: September 3rd, 2020
