Inspection of every item produced to ensure exact customer specifications are met Production of parts within control limits and the maintenance of process output in a state of statistical control as measured by statistical process control tools to ensure consistent meeting of customer specifications

Question

Question 1

In small cushion strategy, the firm is more conservative with respect to capacity.

True

False

Question 2

Assume a business has $700,000 worth of inventory and averages $10,000 per day in sales. Also assume it takes 30 days for the average customer to pay off its accounts receivable to this company and it takes 120 days for the company to pay for the materials supplied by the suppliers. What is the company’s average cash-to-cash cycle time?

40 days
-20 days
-80 days
160 days

Question 3

The meaning of quality has evolved greatly over the past century. Which of the following statements best exempli es the current meaning of quality?

Continuous improvement, competitive advantage and meeting or exceeding customer requirements now and in the future
Inspection of every item produced to ensure exact customer specifications are met
Production of parts within control limits and the maintenance of process output in a state of statistical control as measured by statistical process control tools to ensure consistent meeting of customer specifications

The collaboration of all functional disciplines for the purpose of designing and offering quality products or services

Question 4

Which of the following is not a reason for quality improvement failure?

focus on short-term financial results
managers always blame employees when there is a quality problem
continuous trade-off quality to reduce cost or meet schedules
suppliers are certified for a functioning quality systems
managers continue to interfere with team wor

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