MOE term 1 unit 5 exam G12

Match the following

Groups:

(a) Offshoring

,

(b) Insourcing

,

(c) Outsourcing

,

(d) Reshoring

• moves a business process to a different country.

• involves returning previously offshored processes to the home country.

• involves moving production from in-house to an external supplier.

•  is bringing processes handled by third-party firms back in-house.

Reorder the following from smallest to largest production

• Batch

• Mass

• Job

what are the reasons for outsourcing ? 2 answers

• Higher operational costs
• Increased employee workload
• cost reduction

• Limited access to technology
• access to expertise

What is Target profit output?

• The amount of profit generated at maximum output.
• The total revenue minus total costs at any output level.
• The minimum output required to break even.
• The level of output needed to achieve a specific profit target.

What should a company do if it wants to achieve a target profit? 2 answers

• Reduce marketing efforts
• Ignore market trends
• Increase selling price

• Cut employee salaries
• Decrease variable cost

What is a target price?

• A target price is the price projected to prompt buyer purchase.

• A target price is the price the company pays for the product.

• A target price is the price at which a security is currently trading.
• A target price is the historical price of a security.

Changes in price or cost can effect.... (3 answers)

• Break-even quantity

• Profit

• Bonuses

• Margin of saftey

• Employees

Match the following

• Production of large volumes of identical products

• Job Production

• Produces small quantity of unique items

• Batch Production

• Individual customer needs Mass scale

• Mass Production

• Produces groups of identical items

• Mass customisation

What is Operations Management?

• Operations Management focuses solely on marketing strategies.
• Operations Management is about financial investments in the stock market.
• Operations Management is the study of human resources and employee satisfaction.
• Operations Management is described as a transformation process.

What are factors influencing the choice of a production factory?

• Nature of Communication links

• Market Proximity

• Labour availibility

• Access to raw materials