Operational Management Quiz

What is the definition of house of quality?

• A model to estimate the magnitude of future cash flows.

• An approach to achieve better performance at a lower cost while maintaining all functional requirements defined by the customer.

• There is no correct answer

• A matrix that helps a product design team translate customer requirements into operating and engineering goals.

What is Toyota's operational strategy?

• Low cost of production

• Rapid product innovation

• Quick delivery time

• After-sale service

How did Safeskin Corporation become number 1 in their industry?

• Quick response to customers' complaints

• Cutting cost to the minimum

• Creating modern gloves which exceeded customers' needs

• There is no correct answer.

What is not included in base-case financial model?

• Development cost

• Marketing cost

• Fixed asset liquidation cost

• Ramp-up cost

How many OM strategic decisions are required of operations managers?

• 8

• 10

• 7

• 9

__________ may be defined as managing the entire organization so it excels in dimensions of products and services important to the customer.

• Total quality management

• Statistical process control

• Cost of quality

• Six sigma methodology

A sustainable strategy:

• mainly focus on profit

• meets the needs of shareholders and stakeholders and preserve the environment

• is not about profit but socially responsible

• creates value for shareholders only

What is the definition of fishbone diagram?

• A graph that identifies and plots problems or defects in descending order of frequency

• An organized method of recording data

• A tool that identifies process elements (causes) that may affect an outcome.

• A chart that describes the steps in a process

You want tohave $120,000 in your saving account when you retire, 15 years from now. How much do you have to deposit now, given 7.5% interest rate?

• $40556

• $45000

• $30655

• Another answer

In the life cycle of a product, which phase has highest profit?

• Growth

• Introduction

• Decline

• Maturity