Exam (elaborations)
UNIVERSITY OF ALABAMA () CHILCUTT FINAL EXAM WITH 100% CORRECT ANSWERS
- Course
- Institution
UNIVERSITY OF ALABAMA () CHILCUTT FINAL EXAM WITH 100% CORRECT ANSWERS
[Show more]
Seller
Follow
Content preview
UNIVERSITY OF ALABAMA (2024-2025) CHILCUTTFINAL EXAM WITH 100% CORRECT ANSWERS
Technological Forecasts - <Answers>>>Are concerned with
rates of technological progress, which can result in the birth of
exciting new products, requiring new plants and equipment.
Functions of Inventory - <Answers>>>1. To provide a
selection of goods for anticipated demand and to separate the
firm from fluctuations in demand
2. To decouple or separate various parts of the production
process
3. To take advantage of quantity discounts
4. To hedge against inflation
JIT (just in time) - <Answers>>>Problem solving via a focus
on throughput and reduced inventory
Toyota Production System (TPS) - <Answers>>>focus on
continuous improvement, respect for people, and standard
work practices
Kanban - <Answers>>>A Japanese word meaning "card" or
"visible record" that refers to cards used to control the flow of
production through a factory
Kaizen - <Answers>>>continuous improvement
, UNIVERSITY OF ALABAMA (2024-2025) CHILCUTT
FINAL EXAM WITH 100% CORRECT ANSWERS
Gemba - <Answers>>>Japanese term for the one true source
of information
Poka-Yoke - <Answers>>>mistake proofing
Demand Forecasts - <Answers>>>Projections of demand for
a company's products or services. Forecasts drive decisions,
so managers need immediate and accurate information about
real demand.
Bill of materials - <Answers>>>Lists the hierarchy of
components, their description, and the quantity of each
required to make one unit of a product.
Modular Design - <Answers>>>Products designed in easily
segmented components
Adds flexibility to both production and marketing
Improved ability to satisfy customer requirements
Stakeholders - <Answers>>>Those with a vested interest in
an organization, including customers, distributors, suppliers,
owners, lenders, employees, and community members.
Total Quality Management (TQM) - <Answers>>>a
management philosophy that focuses on satisfying customers
through empowering employees to be an active part of
continuous quality improvement
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jackbundi9071. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
