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Small Business Management
Exam 21: Managing Small Business Operations
Path 4
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Question 61
Essay
Match the term with its definition.Some terms may not be used. a.Acceptance sampling b.Attributes c.Bottleneck d.Constraint e.Inspection f.ISO 9000 g.Operations h.Operations management i.Poka-Yoke j.Quality k.Total quality management l.Variables -Measured parameters that fall on a continuum,such as weight or length
Question 62
Essay
Match the term with its definition.Some terms may not be used. a.ABC method b.Associative forecasting c.Cooperative purchasing organization d.Cycle counting e.Demand management strategies f.Economic order quantity g.Just-in-time inventory system h.Perpetual inventory system i.Physical inventory system j.Poka-yoke k.Statistical inventory control l.Two-bin inventory system -A method that provides for periodic counting of items in inventory
Question 63
Multiple Choice
Rather than rely on the bartender to use the correct proportions of ingredients in mixed drinks,the owner installed a drink-mixing machine that automatically selects and measures the ingredients into the glass.This method is a type of:
Question 64
True/False
The goal of lean production is to use the minimum amount of resources necessary to achieve a total bundle of satisfaction for the customer.
Question 65
Multiple Choice
The buying of products or services from a third party to manage a firm's functions is known as
Question 66
True/False
Quality is best defined as the totality of features and characteristics of a product or service that impacts the firm's ability to satisfy stated or implied needs.
Question 67
Essay
Discuss the objectives of inventory management.
Question 68
True/False
Buying components is preferable to making them when it is necessary to protect a secret design for a seasonal item.
Question 69
Essay
Match the term with its definition.Some terms may not be used. a.ABC method b.Associative forecasting c.Cooperative purchasing organization d.Cycle counting e.Demand management strategies f.Economic order quantity g.Just-in-time inventory system h.Perpetual inventory system i.Physical inventory system j.Poka-yoke k.Statistical inventory control l.Two-bin inventory system -An organization in which small businesses combine their demand for products or services in order to negotiate as a group with suppliers
Question 70
Multiple Choice
Ralph operates a computer-controlled machine.His jobs can be either large or small.To change the set up from one product to another usually requires only a change in programming.This type of manufacturing is known as: