Question 1

When should product strategy focus on forecasting capacity requirements?

Accepted Answer

A)  at the introduction stage of the product life cycle 
B)  at the growth stage of the product life cycle 
C)  at the maturity stage of the product life cycle 
D)  at the decline stage of the product life cycle 
E)  at the saturation stage of the product life cycle 
A)  at the introduction stage of the product life cycle 
B)  at the growth stage of the product life cycle 
C)  at the maturity stage of the product life cycle 
D)  at the decline stage of the product life cycle 
E)  at the saturation stage of the product life cycle

Question 2

If a design can be produced to requirements even when the production process has unfavorable conditions, the design is said to be ________.

Accepted Answer

The answer of If a design can be produced to...

Question 3

"With respect to the product decision, managers must be able to accept risk and tolerate failure." Comment on why this is a necessary hazard in making new product decisions, given all the powerful tools and carefully built systems that support that decision.

Accepted Answer

The vast majority of new produ

Question 4

Which of the following would likely cause a change in market opportunities based upon levels of income and wealth?

Accepted Answer

A)  economic change 
B)  sociological and demographic change 
C)  technological change 
D)  political change 
E)  legal change 
A)  economic change 
B)  sociological and demographic change 
C)  technological change 
D)  political change 
E)  legal change

Question 5

An assembly chart:

Accepted Answer

A)  shows graphically how the product is assembled. 
B)  shows an exploded view of the product. 
C)  lists the operations, including assembly and inspection, necessary to produce the component with the material specified in the bill of material. 
D)  provides detailed instructions on how to perform a given task. 
E)  describes the dimensions and finish of each component. 
A)  shows graphically how the product is assembled. 
B)  shows an exploded view of the product. 
C)  lists the operations, including assembly and inspection, necessary to produce the component with the material specified in the bill of material. 
D)  provides detailed instructions on how to perform a given task. 
E)  describes the dimensions and finish of each component.

Question 6

Regal Marine's use of ________ has reduced product development time and reduced problems with tooling and production.

Accepted Answer

CAD or Com

Question 7

Quality function deployment (QFD):

Accepted Answer

A)  determines what will satisfy the customer. 
B)  translates customer desires into the target design. 
C)  is used early in the design process. 
D)  is used to determine where to deploy quality efforts. 
E)  all of these 
A)  determines what will satisfy the customer. 
B)  translates customer desires into the target design. 
C)  is used early in the design process. 
D)  is used to determine where to deploy quality efforts. 
E)  all of these

Question 8

The ________ is the crucial moment between the service provider and the customer that exemplifies, enhances, or detracts from the customer's expectations.

Accepted Answer

The answer of The ________ is the crucial moment between...

Question 9

A swim club is designing a new pool to replace its old pool. The new pool would need to last for 10 years since the club is planning on relocating after 10 years. A concrete shell would cost $85,000 and last for all 10 years. Another option is to install a vinyl liner that would cost only $70,000 to install. However, the vinyl is not guaranteed to last for all 10 years, and it has a 40% chance of breaking down. Repair of the vinyl would cost $40,000 and would extend the life of the vinyl liner to the 10-year mark. If both options are acceptable to the swim club, which one minimizes cost?

Accepted Answer

@#IMG-DLM& EMV of vinyl is 0.60(70,000)

Question 10

Apple generates almost 90% of its revenue from products launched in the past 4 years.

Accepted Answer

A) True 
 B)False

Question 11

Aggressive new product development requires that organizations build structures internally that contain what features?

Accepted Answer

They should have open communic

Question 12

Regal Marine's attempts to keep in touch with customers and respond to the marketplace are made impossible because consumer tastes change and maritime engineering improves.

Accepted Answer

A) True 
 B)False

Question 13

The analysis tool that lists products in descending order of their individual dollar contribution to the firm is:

Accepted Answer

A)  decision tree analysis. 
B)  Pareto analysis. 
C)  breakeven analysis. 
D)  product-by-value analysis. 
E)  product life cycle analysis. 
A)  decision tree analysis. 
B)  Pareto analysis. 
C)  breakeven analysis. 
D)  product-by-value analysis. 
E)  product life cycle analysis.

Question 14

Tri-products is trying to decide whether to make or buy an accessory item for one of their products. It is projected that this item will sell for $10 each. If the item is outsourced, there is virtually no cost other than the $6 per unit that they would pay their supplier. Internally, they have two choices. Process A requires an investment of $120,000 for design and equipment, but it results in a $4 per unit cost. Process B requires only a $100,000 investment, but its per unit cost is $5. Regardless of whether the item is subcontracted or produced internally, there is a 50% chance that they will sell 50,000 units, and a 50% chance that they will sell 100,000 units. Draw the decision tree appropriate to the alternatives and outcomes stated. Using the decision tree and EMV, what is their best choice?

Accepted Answer

Process A promises t

Question 15

A work order is a list of the hierarchy of components, their description, and the quantity of each required to make one unit of the product.

Accepted Answer

A) True 
 B)False

Question 16

The four phases of the product life cycle are incubation, introduction, growth, and decline.

Accepted Answer

A) True 
 B)False

Question 17

Which of these statements regarding Regal Marine is TRUE?

Accepted Answer

A)  Product design is a critical decision for the firm. 
B)  Regal uses a three-dimensional CAD system to shorten product development time. 
C)  Regal still uses some wooden parts and hand-produces some components. 
D)  Regal's use of CAD has resulted in a superior product. 
E)  All of these are true. 
A)  Product design is a critical decision for the firm. 
B)  Regal uses a three-dimensional CAD system to shorten product development time. 
C)  Regal still uses some wooden parts and hand-produces some components. 
D)  Regal's use of CAD has resulted in a superior product. 
E)  All of these are true.

Question 18

Briefly explain how product life-cycle management (PLM) impacts product design.

Accepted Answer

PLM is an umbrella of software programs

Question 19

The expected value of each course of action in a decision tree is determined by starting at the beginning of the tree (the left-hand side) and working toward the end of the tree (the right).

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is TRUE concerning advantages of CAD?

Accepted Answer

A)  It provides accurate information flows to other departments. 
B)  Most product costs are determined at the design stage. 
C)  Design options are easier to review before final commitments are made. 
D)  Virtually all products have their development cycle shortened. 
E)  All of these are true. 
A)  It provides accurate information flows to other departments. 
B)  Most product costs are determined at the design stage. 
C)  Design options are easier to review before final commitments are made. 
D)  Virtually all products have their development cycle shortened. 
E)  All of these are true.

Exam 5: Design of Goods and Services

When should product strategy focus on forecasting capacity requirements?

If a design can be produced to requirements even when the production process has unfavorable conditions, the design is said to be ________.

"With respect to the product decision, managers must be able to accept risk and tolerate failure." Comment on why this is a necessary hazard in making new product decisions, given all the powerful tools and carefully built systems that support that decision.

Which of the following would likely cause a change in market opportunities based upon levels of income and wealth?

An assembly chart:

Regal Marine's use of ________ has reduced product development time and reduced problems with tooling and production.

Quality function deployment (QFD):

The ________ is the crucial moment between the service provider and the customer that exemplifies, enhances, or detracts from the customer's expectations.

Apple generates almost 90% of its revenue from products launched in the past 4 years.

Aggressive new product development requires that organizations build structures internally that contain what features?

Regal Marine's attempts to keep in touch with customers and respond to the marketplace are made impossible because consumer tastes change and maritime engineering improves.

The analysis tool that lists products in descending order of their individual dollar contribution to the firm is:

A work order is a list of the hierarchy of components, their description, and the quantity of each required to make one unit of the product.

The four phases of the product life cycle are incubation, introduction, growth, and decline.

Which of these statements regarding Regal Marine is TRUE?

Briefly explain how product life-cycle management (PLM) impacts product design.

The expected value of each course of action in a decision tree is determined by starting at the beginning of the tree (the left-hand side) and working toward the end of the tree (the right).

Which of the following is TRUE concerning advantages of CAD?

Operations and Productivity

Operations Strategy in a Global Environment

Project Management

Forecasting

Managing Quality

Process Strategies

Location Strategies

Human Resources, Job Design, and Work Measurement

Supply Chain Management

Inventory Management

Aggregate Planning and Sop

Material Requirements Planning Mrp and Erp

Short-Term Scheduling

Lean Operations

Maintenance and Reliability

Decision-Making Tools

Linear Programming

Transportation Models

Waiting-Line Models

Learning Curves

Simulation

Applying Analytics to Big Data in Operations Management

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