PoBMF - Chapter 8 - Production of Goods Test

The area of management responsible for the activities necessary to produce goods and services.

• Finance

• Marketing

• Operations

• Human Resources

What are the four functions of business?

• Finance, Management, Marketing, Production

• Finance, Management, Training, Production

• Operations, Management, Marketing, Production

• Finance, Management, Marketing, Advertising

How do companies increase worker productivity

• custom manufacturing

• materials processing

• division of labor

• mass production

The specialization of individuals who perform specific tasks

• custom manufacturing

• mass production

• division of labor

• teamwork

Mass production is .........

• the manufacturing of goods in large quantities using standard techniques

• converting resources to a product that fits the specifications of a particular customer.

• the process of changing and improving resources to create goods or services.

• changing the form of raw materials for another use.

Finding suppliers of materials needed for the production of a product.

• Purchasing

• Sourcing

• Supplying

• Researching

Individuals responsible for sourcing and buying materials needed for producing goods and services.

• Sorcerers

• Sourcers

• Purchasing agents

• Suppliers

Area of management involved in ordering goods, receiving them into stock and paying vendors.

• Human resource

• Inventory

• Operations

• Marketing

Unifinished product in a company's inventory is known as.....

• Work in process inventory

• Direct materials inventory

• Finished goods inventory

• Just Inventory

JIT is know as which TWO of the following

• Just in time inventory

• the activity of checking products as the are produced or received

• keeping a minimal amount of raw materials on hand to meet production needs

• taking physical count of merchandise at regular periods