Self Test Flashcards
(39 cards)
Production means the creation of _________________.
something of value
__________ means the creation of something of value.
Production
The production sector that has the greatest impact in our society is ______________.
manufacturing
Mass production generally brings about _____________________.
lower prices
Firm A buys from Firm B. Firm B, in turn, buys from Firm A. This process is an example of ________________.
reciprocity
Intermittent operations is characteristic of __________________________.
custom production
The issuing of orders to begin production jobs or processing is _______________.
scheduling
Work orders flow from the scheduling department to the _________________________.
purchasing department
_________________ is an incentive of simplification and standardization.
Cost savings
This production characteristic will generally yield a wider range of prices.
Diversification
____________ is the arrangement of equipment and plant design.
Layout
Production facilities for many firms are often located in _______________________-.
industrial parks
A production layout may be _________________- or __________________–oriented
product; process
A firm capable of manufacturing the component parts for its final product must determine whether it should __________ or _________ the parts.
make; buy
4 important factors to be considered when purchasing: (DIFFERENT FROM 4 SPECIFICATIONS THAT MAY BE PROVIDED ON A PURCHASE REQUISITION, WHICH IS QUANTITY, SIZE, CAPACITY, AND DESIRED DELIVERY DATE)
quantity; quality; cost; delivery dependability
A firm may obtain use of equipment without making large investments of money by ___________.
leasing
A purchase requisition may not be required if the specified ____________ limit is not exceeded.
dollar
Maintaining an up-to-date record of product levels is referred to as a ______________ inventory.
perpetual
A responsibility of a production foreman is to monitor __________- and _____________ of production.
quality; quantity
A ____________ is necessary for mass production.
mass market
______________ is the monitoring of the inputs to the production process.
Production control
_____________ makes the manufacturing process a series of limited tasks.
Job specialization
The production characteristic that will most likely broaden a manufacturer’s market is ______________________.
diversification
The cost savings produced by _________________ does not guarantee the manufacturer a profit.
production simplification
