Reference no: EM131791661
1. Based upon your textbook’s discussion as well as your accounting and finance course work you should have completed to date, TekSupply Inc., an automobile parts supplier, held an average automobile parts inventory of $4 million last year. Its cost of goods sold was $25 million. Therefore, the automobile parts experienced an inventory turnover of _____ turns last year.
a. 2.51
b. 4.25
c. 6.25
d. 9.50
e. 12.25
2. A firm that specializes in certain types of goods-producing activities, such as customized design, manufacturing, assembly, and packaging, and works for end-users is consider primarily a ____.
a. responsive supply chain
b. contract manufacturer
c. distribution center
d. vendor-managed inventory supplier
e. back-hold entrepreneurial supply chain vendor
3. A(n) ____ produces goods in advance of customer demand using a forecast of sales and moves them to points of sale where they are stored as finished goods inventory.
a. Responsive supply chain
b. Efficient supply chain
c. Push system
d. Pull system
4. A(n) ____ produces only what is needed at upstream stages in the supply chain in response to customer demand signals.
a. Responsive supply chain
b. Efficient supply chain
c. Push system
d. Pull system
5. Based upon your readings of the textbook and the two articles posted in Week Seven, which of the following is basically true regarding the history of quality management?
a. During the Industrial Revolution, workers on the shop floor began to take on increased responsibility for quality.
b. Six Sigma was developed in Japan as a cost reduction approach during the 1970s.
c. Deming's diagram of a value chain emphasized the importance of consumers and suppliers in supporting continuous quality improvement.
d. Beginning around 1948, Deming and Juran began educating top U.S. managers, which lead to the growth and development of quality management in the U.S.
e. Quality engineers in the Soviet Union developed their own version of quality management, which has been universally adopted in most countries in the world.
6. Dr. W. Edwards Deming defined quality as "fitness for use" and sought to improve quality by working within the system familiar to managers.
a. True
b. False
7. According to what you read in your textbook, all of the following are components of the GAP model except:
a. The discrepancy between delighting or pleasing customers and total customer service and satisfaction.
b. The discrepancy between management's perceptions of what features constitute a target level of quality and the task of translating these perceptions into executable specifications.
c. The discrepancy between quality specifications documented in operating and training manuals and plans and their implementation.
d. The difference between the customer's ideas, expectations, and perceptions.