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MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
[Show more]MGSC 395 Exams Pack| Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
[Show more]Theory of Constraints 
: 1) Identify the system's constraints 
2) Decide how to exploit the system's constraints 
3) Subordinate everything else to the above decision 
4) Elevate the system's constraints 
5) Do not allow inertia to cause a system constraint 
As ___________ decreases, Net Profit, ...
Preview 2 out of 10 pages
Add to cartTheory of Constraints 
: 1) Identify the system's constraints 
2) Decide how to exploit the system's constraints 
3) Subordinate everything else to the above decision 
4) Elevate the system's constraints 
5) Do not allow inertia to cause a system constraint 
As ___________ decreases, Net Profit, ...
Big three areas chart 
: Finance--> Material and Service Input-->Operations--> Product and Service 
Outputs-->Marketing--> Sales revenue--> back to finance 
Finance 
: Acquires financial resources and capital for inputs 
Operations 
: Translates materials and services into outputs...
Preview 3 out of 19 pages
Add to cartBig three areas chart 
: Finance--> Material and Service Input-->Operations--> Product and Service 
Outputs-->Marketing--> Sales revenue--> back to finance 
Finance 
: Acquires financial resources and capital for inputs 
Operations 
: Translates materials and services into outputs...
Operations management 
: The systematic design, direction, and control of processes that transforms inputs 
into serves and products for internal, as well as external, customers 
Process 
: any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mor...
Preview 3 out of 27 pages
Add to cartOperations management 
: The systematic design, direction, and control of processes that transforms inputs 
into serves and products for internal, as well as external, customers 
Process 
: any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mor...
Capacity 
: The max rate of output of a process or system 
What do long-term capacity plans involve? 
: Investments in new facilities and equip at the organizational level, and require 
top mgmt participation and approval bc they are not easily reversed 
When choosing a capacity strategy, what do m...
Preview 4 out of 35 pages
Add to cartCapacity 
: The max rate of output of a process or system 
What do long-term capacity plans involve? 
: Investments in new facilities and equip at the organizational level, and require 
top mgmt participation and approval bc they are not easily reversed 
When choosing a capacity strategy, what do m...
A Process View 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for its customers 
The Supply Chain View 
: Each activity in a process should add value to the preceding activities; waste 
and unnecessary cost should be elimina...
Preview 2 out of 13 pages
Add to cartA Process View 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for its customers 
The Supply Chain View 
: Each activity in a process should add value to the preceding activities; waste 
and unnecessary cost should be elimina...
A credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
Which of the following events from the twentieth century defines the history of...
Preview 4 out of 44 pages
Add to cartA credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
Which of the following events from the twentieth century defines the history of...
Complementary products 
: when one demand goes up, so does the other 
Judgement methods 
: contextual knowledge gained through experience 
Causal methods 
: Use historical data and the relationships can be identified between the 
dependent and independent variable (s). 
Time series methods 
: Use h...
Preview 2 out of 7 pages
Add to cartComplementary products 
: when one demand goes up, so does the other 
Judgement methods 
: contextual knowledge gained through experience 
Causal methods 
: Use historical data and the relationships can be identified between the 
dependent and independent variable (s). 
Time series methods 
: Use h...
Finance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Preview 2 out of 8 pages
Add to cartFinance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
capacity 
: maximum rate of output of a process or a system 
capacity management consists of: 
: capacity planning 
constraint management 
capacity planning 
: long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
constraint management 
: short ter...
Preview 2 out of 13 pages
Add to cartcapacity 
: maximum rate of output of a process or a system 
capacity management consists of: 
: capacity planning 
constraint management 
capacity planning 
: long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
constraint management 
: short ter...
Operations management 
: The systematic design, direction, and control of processes that transform inputs 
into services and products for internal, as well as external, customers 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mo...
Preview 3 out of 16 pages
Add to cartOperations management 
: The systematic design, direction, and control of processes that transform inputs 
into services and products for internal, as well as external, customers 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or mo...
inventory management 
: the planning and controlling of inventories in order to meet the competitive 
priorities of the organization 
inventory 
: a stock of materials used to satisfy customer demand or to support the 
production of services or goods 
pressures for small inventories 
: -inventory ...
Preview 2 out of 13 pages
Add to cartinventory management 
: the planning and controlling of inventories in order to meet the competitive 
priorities of the organization 
inventory 
: a stock of materials used to satisfy customer demand or to support the 
production of services or goods 
pressures for small inventories 
: -inventory ...
Finance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Preview 2 out of 13 pages
Add to cartFinance 
: Acquires financial resources and capital for inputs 
Marketing 
: Generates sales of outputs 
Operations 
: Translates materials and services into outputs 
Process 
: Any activity or group of activities that takes one or more inputs, transforms them, 
and provides one or more outputs for...
Break Even Analysis 
: Analysis to compare processes by finding the volume at which two different 
processes have equal total costs. 
pQ = F + cQ 
Break Even Quantity 
: The volume at which total revenues equal total costs. 
Variables for Break Even 
: Variable cost (c) 
The portion of the total co...
Preview 3 out of 22 pages
Add to cartBreak Even Analysis 
: Analysis to compare processes by finding the volume at which two different 
processes have equal total costs. 
pQ = F + cQ 
Break Even Quantity 
: The volume at which total revenues equal total costs. 
Variables for Break Even 
: Variable cost (c) 
The portion of the total co...
Acquires financial resources and capital for inputs 
: Finance 
Generates sales of outputs 
: Marketing 
Translates materials and services into outputs 
: Operations 
Any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs
Preview 2 out of 10 pages
Add to cartAcquires financial resources and capital for inputs 
: Finance 
Generates sales of outputs 
: Marketing 
Translates materials and services into outputs 
: Operations 
Any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs
For what organizational decisions are demand forecasts used? 
: -long term(general forecast) 
-intermediate term(product family/service lines) 
-short term(detailed) 
What are the costs/risks of forecasts that are too high or too low? 
: Too high: 
-surplus of inventory 
-price markdown(blackfri.) 
...
Preview 2 out of 14 pages
Add to cartFor what organizational decisions are demand forecasts used? 
: -long term(general forecast) 
-intermediate term(product family/service lines) 
-short term(detailed) 
What are the costs/risks of forecasts that are too high or too low? 
: Too high: 
-surplus of inventory 
-price markdown(blackfri.) 
...
the planning and controlling of inventories in order to meet the competitive priorities of 
the organization 
: inventory management 
a stock of materials used to satisfy customer demand or to support the production of 
services or goods 
: inventory 
-inventory holding cost 
-cost of capital 
-st...
Preview 3 out of 17 pages
Add to cartthe planning and controlling of inventories in order to meet the competitive priorities of 
the organization 
: inventory management 
a stock of materials used to satisfy customer demand or to support the production of 
services or goods 
: inventory 
-inventory holding cost 
-cost of capital 
-st...
a prediction of future events used for planning purposes 
: forecast 
the repeated observations of demand for a service or product in their order of 
occurrence 
: time series 
nearly flat over time 
: time series pattern: horizontal 
consistently rising or falling 
: time series pattern: trend 
2 ...
Preview 3 out of 24 pages
Add to carta prediction of future events used for planning purposes 
: forecast 
the repeated observations of demand for a service or product in their order of 
occurrence 
: time series 
nearly flat over time 
: time series pattern: horizontal 
consistently rising or falling 
: time series pattern: trend 
2 ...
Finance--> Material and Service Input-->Operations--> Product and Service Outputs-- 
>Marketing--> Sales revenue--> back to finance 
: Big three areas chart 
Acquires financial resources and capital for inputs 
: Finance 
Translates materials and services into outputs 
: Operations...
Preview 3 out of 24 pages
Add to cartFinance--> Material and Service Input-->Operations--> Product and Service Outputs-- 
>Marketing--> Sales revenue--> back to finance 
: Big three areas chart 
Acquires financial resources and capital for inputs 
: Finance 
Translates materials and services into outputs 
: Operations...
A demand management option for a company is to even out the load on resources by 
producing ___________ products, or services that have similar resource requirements 
but different demand cycles. 
A. Prescheduled products 
B. Promotional Products 
C. Backlog products 
***D. Complementary products...
Preview 4 out of 40 pages
Add to cartA demand management option for a company is to even out the load on resources by 
producing ___________ products, or services that have similar resource requirements 
but different demand cycles. 
A. Prescheduled products 
B. Promotional Products 
C. Backlog products 
***D. Complementary products...
The max rate of output of a process or system 
: Capacity 
Investments in new facilities and equip at the organizational level, and require top mgmt 
participation and approval bc they are not easily reversed 
: What do long-term capacity plans involve? 
How much of a cushion is needed for variable...
Preview 4 out of 45 pages
Add to cartThe max rate of output of a process or system 
: Capacity 
Investments in new facilities and equip at the organizational level, and require top mgmt 
participation and approval bc they are not easily reversed 
: What do long-term capacity plans involve? 
How much of a cushion is needed for variable...
maximum rate of output of a process or a system 
: capacity 
capacity planning 
constraint management 
: capacity management consists of: 
long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
: capacity planning 
2 | P a g e 
short term 
TOC 
iden...
Preview 3 out of 16 pages
Add to cartmaximum rate of output of a process or a system 
: capacity 
capacity planning 
constraint management 
: capacity management consists of: 
long term 
econonomies/diseconomies of scale 
capacity timing and sizing strategies 
systematic approach 
: capacity planning 
2 | P a g e 
short term 
TOC 
iden...
The systematic design, direction, and control of processes that transforms inputs into 
serves and products for internal, as well as external, customers 
: Operations management 
any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs f...
Preview 4 out of 33 pages
Add to cartThe systematic design, direction, and control of processes that transforms inputs into 
serves and products for internal, as well as external, customers 
: Operations management 
any activity or group of activities that takes one or more inputs, transforms them, and 
provides one or more outputs f...
A credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
2 | P a g e 
Which of the following events from the twentieth century defines t...
Preview 4 out of 57 pages
Add to cartA credit card-processing firm would be likely to list the following competitive priorities for 
its external customers: 
A. 
Concurrent engineering 
B. 
Mass customization 
C. 
Consistent quality 
D. 
Postponement 
: c 
2 | P a g e 
Which of the following events from the twentieth century defines t...
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