exam 1 Flashcards
(38 cards)
triple bottom line includes
people, planet, and profit
functional strategies should
support the business strategy
price as a core competency ex.
walmart
pay raises rely on improved
productivity
the cost of maintaining equipment is an [] cost
prevention
the testing and inspection of raw materials, work in process, and finished goods would be an example of []
appraisal
ex of quality appraisal tool
process flow charts
[] costs result from defects or quality problems before the product or service is delivered to the customer
internal failure
quality management tool designed to identify the relatively few but most critical causes of quality problems
Pareto chart
economies of scale identifies
the optimal capacity to minimize cost
when workflow of an operation is limited, partially completed units will accumulate at the
bottleneck
break even means
rev = costs
the product/process matrix is defined by
vol and var
mass customization is
high vol, high var
modules provide
var w limited input
compared to a repetitive process, a job shop process to accomplish similar production will typically have
low FC, high VC
the layout type most appropriate for a hospital would be
process focussed
key req for an office layout is
communication
appropriate control chart for tracking defects over time
p-chart
firms that provide components or finished goods and services to the primary firm are called [] suppliers
first tier
what industry would be most associated with providing services
counseling
steps in traditional product development
business analysis, idea generation, market testing
types of sustainability
economic, environmental, social
productivity =
output/input