MAR 3203 Exam 1 UCF

Which of the following activities at a commercial bank is NOT an operations​ activity?

auditing

Which of the following activities at an airline is NOT an operations​ activity?

sales

Which operations function at a manufacturing facility strives for the efficient use of​ machines, space, and​ personnel?

industrial engineering

Which of the following is NOT one of the factors that fosters specialization and worldwide supply​ chains?

marketing

A global network of organizations and activities that supply a firm with goods and services is referred to as

a supply chain

In​ general, the supply chain starts with

the provider of basic raw materials

The service sector constitutes what percentage of employment in the United​ States?

between​ 80% to​ 90%

The economic activities that typically produce an intangible product are referred to as

services

Which of the following is NOT a characteristic of​ services?

standardized product

Which of the following organizations does NOT belong to the service​ sector?

Ford Motor Company

Which of the following countries is NOT a memebr of the​ EU?

Uruguay

The stated purposed of NAFTA is to

phase out all trade and tariff barriers among​ Canada, Mexico, and the U.S.

Which of the following is NOT a reason why domestic business operations decide to change to some form of international​ operation?

attract and retain local talent

Which one of the following statements is incorrect regarding globalization and globalization​ strategies?

Globalization strategies could simplify the operations ​ manager's job

Which of the following is NOT one of the 10 strategic OM decisions listed in the​ text?

​​finance/accounting

Which of the following is NOT an OM​ strategy/issue during the introduction stage of the product life​ cycle?

long production runs

Which of the following is NOT an OM​ strategy/issue during the growth stage of the product life​ cycle?

reduce capacity

A method managers use to evaluate the resources at their disposal and manage or alter them to achieve competitive advantage is referred as

resources view

SWOT analysis refers to

​​strengths, opportunities,​ weaknesses, and threats.

What is a graphical link of competitive​ advantage, KSFs, and supporting​ activities?

activity map

A set of​ skills, talents, and capabilities in which a firm is particularly strong is referred to as

core competencies

Which of the following is the core competence for​ Honda?

gas-powered engines

Which of the following statements is NOT true regarding​ forecasting?

Forecasting is exclusively an objective prediction

The forecasting time horizon that would typically be easiest to predict for would be the

short range

A forecast that addresses the business cycle by predicting planning indicators is

an economic forecast

A forecast that projects a​ company's sales is

a demand forecast

Which of the following is the FIRST step in a forecasting​ system?

Determine the use of the forecast.

Which of the following is the FINAL step in a forecasting​ system?

Validate and implement the results.

Which of the following is a reality each company faces regarding its forecasting​ system?

Outside factors that we cannot predict or control often impact the forecast.

Which of the following forecasting steps comes directly after determining the time horizon of the​ forecast?

Select the forecasting model(s).

One use of inventory is

to provide a hedge against inflation

The objective of inventory management is to

strike a balance between inventory investment and customer service

Which of the following is NOT a type of​ inventory?

MRP

Which of the following types of inventory describes inventory that has been purchased but not​ processed?

raw material inventory

ABC analysis divides an​ organization's on-hand inventory into three classes based upon

annual dollar volume

Policies based on ABC analysis might include investing

more in supplier development for A items