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IB B&M 05 Operations Management Flashcards | StudBud
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IB B&M 05 Operations Management
IB B&M 05 Operations Management
20 terms
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Review quiz
Flashcards
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Questions
20
Answers
1
Which of the reasons below does NOT explain why quality is important to a business?
Quality raises the confidence level of customers
Quality means less stress to employees
Quality is essential in order to satisfy customers
Quality can provide competitive advantage to the business
2
Benefits of product innovation do NOT include...
Growth opportunities
Brand switching
Productivity gains
Reduced product failure rate
3
The way in which an organization responds to a crisis is known as...
Crisis management
Operations management
Business planning
Contingency planning
4
The customer’s perception of quality is ultimately measured by...
Image
Excellence
Value for money
Price
5
Which benefit does NOT apply to lean production?
Improved quality assurance
Flexibility in meeting sudden changes in consumer demand
Fewer mistakes being made
Reduced costs of holding inventory
6
The systematic attempt to prevent or manage crises should they occur is known as...
Contingency planning
Crisis management
Damage Limitation management
Workforce planning
7
The use of traditional methods to inspect quality against required standards is known as...
Scientific management
Quality Control
Kanban
Benchmarking
8
Innovation is best described as...
The development of new ideas and working practices
New products that are launched on the market
The commercial development and use of an idea
Market-orientated processes
9
Quantifiable risks are those that are...
Financially measurable threats
Difficult to measure
Expensive to insure against
Natural in occurrence
10
One drawback of outsourcing operations overseas is that...
They might have a more skilled workforce
The quality of production might be harder to monitor
They might have lower costs of production
They are more likely to stockpile.
11
Which of the following is NOT a constraint of R&D?
Budget constraints
High failure rate
High R&D costs
Competitiveness
12
Which of the following is NOT a type of stock for a business?
Work-in-progress
Raw materials
Ordinary shares
Finished goods
13
A product that serves its purpose in fulfilling a customer’s need or desire is known as...
Quality management
Lean production
Quality assurance
Fit for purpose
14
The production level where unit costs are at their lowest is known as...
Productivity rate
Economic order quantity
Capacity utilization rate
Buffer stock
15
Which of the following is not a method of lean production?
Quality circles
JIT production
Kaizen
Mass production
16
Stockpiling means that a business...
Operates at a level lower than its buffer stock
Builds up excessive levels of inventory
Produces on a larger scale to benefit from cost savings
Plans for a large safety margin
17
Which of the following is the least likely long term benefit of R&D?
Establishing a unique selling point
Improved competitiveness
Establishing brand loyalty
Growth opportunities
18
One advantage of JIC is that...
Productive efficiency is encouraged
Flexibility to meet sudden changes in consumer demand
Buffer stocks can be minimized
Stockpiling is less likely to occur
19
The gap between time taken to order new stocks and their delivery is...
Re-order quantity
Lead time
Usage rate
Re-order level
20
Which of the following is likely to be an unquantifiable risk for a movie theatre?
Loss of valuable stock
Copyright infringements
A natural disaster that destroys the theatre
Assault by a customer
