MBA-687: Operations Management MBA-687: Operations Management Final Assessment 05 June 2024 Final Assessment 05 June 2024 SECTION 2 Answer No. Question Fill in the Blanks with the most appropriate term from the Word Bank: 20 Points 14. Just-in-Time (JIT) is a strategy that aims to minimize and 1. forecast 2. bill of materials 3. operations 4. Capacity 3. cards reduce waste in production processes 15. Kaizen is a Japanese term that means 6. aggregate 7. Gantt charts 8. enhance 9. inventory level 10 emphasizing master continuous incremental improvements in processes and operations. planning efficiency management production schedule 11. job shop 12. Cost 13. Lean 14. Critical 15 logistics 16. In global supply chain management, companies must consider factors leadership path such as and lead times to ensure efficient operations 16. Chase 17. TOM 18. Demand 19. Continuous 20 inventory Demand improvement 17 Any path that if delayed will delay the completion of the entire project is known as a Answer No. Question 18 In production strategy the output is increased or 1. A processing system generally requires less-skilled workers decreased in step with rising or falling demand. than a continuous processing system. 2. A contains a listing of all the assemblies, parts, and 19. drives capacity planning decisions materials needed to produce one unit of an end item. 3. An advantage of in project management is that they identify 20 is a philosophy for identifying and removing waste which activities can be delayed without delaying the overall project across the whole business activities 4. The states which end items are to be produced, in addition to when and how many. Three key philosophies in are continuous improvement, involvement of everyone in the organization, and customer satisfaction. 6. A key objective of operations management is to. 7 An example of an operational operations management decision is 8. The goal of is to achieve a production plan that attempts to balance the organization's resources and meet expected demand. 9 The best is not necessarily the most accurate 10. The process of transforming inputs into outputs is known as 11. is the maximum rate at which units can be produced 12. is a strategy that aims to produce goods or services at the lowest possible cost. 13. Kanban is a visual system that uses to signal the need for production or replenishment of items