A) The product's ability to serve universal needs
B) The product's life cycle
C) The product's packaging
D) The product's flexible manufacturing technology
E) The product's value-to-weight ratio
G) A) and C)
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A) reduces the total working capital required by a firm.
B) allows many defective parts to be produced before a problem is recognized.
C) results in a near error-free production process.
D) reduces the costs related to inventory holding.
E) reduces the need to write off excess unsold inventory against earnings.
G) B) and C)
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B) False
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A) increase defects.
B) lower productivity.
C) increase the costs of value creation.
D) eliminate waste.
E) increase cost per unit.
G) A) and B)
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B) False
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A) manufacture the product in-house so that it does not lose its competitive advantage.
B) outsource the production activities to independent suppliers in order to realize economies of scale.
C) merge with competitors to reduce investments on technology.
D) share the technology to make the industry more competitive.
E) transfer the technology to less developed countries.
G) A) and C)
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A) difficult to achieve shorter product runs.
B) difficult to increase its product sales.
C) difficult to reduce its unit costs.
D) easy to realize economies of scale.
E) easy to reach optimum production efficiency.
G) A) and C)
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A) a shift in focus away from quality.
B) increasing productivity of workers.
C) speeding up inventory turnover.
D) creating a buffer stock of inventory.
E) writing off excess unsold inventory against earnings.
G) B) and E)
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A) A manufacturing activity must be performed at multiple locations when the fixed costs of setting up a production plant are high.
B) Performing a manufacturing activity in several locations makes it difficult for a firm to accommodate demands for local responsiveness.
C) Producing in multiple locations reduces the bargaining power of a firm against manufacturers.
D) The larger the minimum efficient scale of a plant relative to total global demand, the greater the need for decentralizing production to multiple locations.
E) Many firms disperse their manufacturing plants to different locations as a "real hedge" against potentially adverse moves in currencies.
G) B) and E)
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A) They tend to have greater weight than other products in the segment.
B) Their transportation costs account for a very small percentage of total costs.
C) They tend to be inexpensive.
D) There is great pressure to produce these products in multiple locations close to major markets.
E) These products gain weight as raw materials get processed during transportation.
G) C) and E)
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A) It fails to adapt to the production of different products.
B) It generally results in stockpiles of partly finished products.
C) It improves capacity utilization and reduces wastes.
D) It increases setup time for complex equipment.
E) It adds to the cost structure of a firm.
G) B) and E)
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A) depend on one supplier for an important input.
B) outsource the production of inputs only to advanced countries.
C) hold an excess buffer stock of inventory.
D) source inputs from several suppliers located in different countries.
E) avoid using electronic data interchange.
G) B) and C)
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A) strong intellectual property rights laws.
B) lower labor costs.
C) accessibility to better technology.
D) sophisticated infrastructure.
E) currency appreciation.
G) C) and E)
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A) minimum efficient scale.
B) lean production.
C) Six Sigma.
D) economies of scale.
E) total quality management.
G) None of the above
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Political and economic systems, culture,...View Answer
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A) increased setup times for complex equipment.
B) increased utilization of individual machines.
C) reduced quality control.
D) increased unit cost of products.
E) lesser need for scheduling.
G) None of the above
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A) Inventory information system
B) Basket trading system
C) Buffer stock system
D) Just-in-time inventory system
E) Real-time processing system
G) A) and E)
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Web- and cloud-based information systems...View Answer
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A) result in diseconomies of scale.
B) increase production efficiency.
C) increase production costs.
D) result in shorter production runs.
E) result in a high minimum efficient scale of output.
G) C) and D)
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A) adopt techniques of total quality management.
B) achieve Six Sigma.
C) use just-in-time inventory system.
D) patent its designs and technology.
E) certify its products under ISO 9000.
G) B) and E)
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