Production and Operations Management

181. The best strategy of minimizing the amount of safety inventory to be kept in a store without hurting the level of customer service is

  1. Minimizing the uncertainty inherent in supply
  2. Minimizing the cycle service level
  3. Reducing the supply lead time
  4. Minimizing the uncertainty inherent in demand
Correct answer: (A)
Minimizing the uncertainty inherent in supply

182. Which of the following is NOT a type of inventory?

  1. MRP
  2. Finished goods
  3. Raw material
  4. Work-in-process
Correct answer: (A)
MRP

183. TQM refers to __________________

  1. Total quantity management
  2. Total quality management
  3. Total quality marketing
  4. Total quotient management
  5. Total quantity marketing
Correct answer: (B)
Total quality management

184. Through __________________ marketing statisticians can extract useful information about individuals, trends, and segments from the mass of data.

  1. CRM
  2. Prospecting
  3. Datamining
  4. Calculus
Correct answer: (C)
Datamining

185. Which of the following is not one of the major categories of costs associated with quality?

  1. Appraisal costs
  2. Internal failures
  3. External failures
  4. None of the above, they are all major categories of costs associated with quality
Correct answer: (D)
None of the above, they are all major categories of costs associated with quality

186. A successful TQM program incorporates all of the following except

  1. Continuous improvement
  2. Employment involvement
  3. Benchmarking
  4. Centralized decision making authority
Correct answer: (D)
Centralized decision making authority

187. According to the manufacturing-based definition of quality,

  1. Quality is the degree of excellence at an acceptable price and the control of variability at an
  2. Acceptable cost
  3. Quality depends on how well the product fits patterns of consumer preferences
  4. Even though quality cannot be defined, you know what it is
  5. Quality is the degree to which a specific product conforms to standards
Correct answer: (D)
Even though quality cannot be defined, you know what it is

188. Customer churn refers to ________________

  1. Customer defection
  2. Customer mix
  3. Customer anxiety
  4. Customer loyalty
Correct answer: (A)
Four

189. Companies can build interest and enthusiasm by using databases to remember customer preferences. This strategy helps to __________________.

  1. Deepen customer loyalty
  2. Reactivate dormant customers
  3. Avoid serious customer mistakes
  4. Identify prospects
Correct answer: (A)
Deepen customer loyalty

190. Inspection, scrap, and repair are examples of

  1. Internal costs
  2. External costs
  3. Costs of dissatisfaction
  4. Societal costs
Correct answer: (A)
Internal costs
Previous
Page 19 of 52
Next