PRODUCTS AND PROCESSES- Worked Answers for 1-6

PRODUCTS AND PROCESSES- Worked Answers for 1-6 - Product...

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Product and Processes Questions 1-6 Information Given: Question 1 Which of the following phrases best describes this system’s approach to production? Answer D Explanation The key to answering this first question is to track the flow of inventory from raw materials through the production process ending with a FINISHED GOOD. When raw materials are processed, and end as finished goods, the process is known as make-to-stock. This process leads to a good with a low unit cost and a short lead time. (Ex. Think of the frozen pizzas in the grocery store, they are not customizable, fully made, cheap, and ready when you want them) This process is very standardized and leads to a low unit cost. Question 2 Which of the following statements are good descriptions of this system? Answer A Explanation Option I: True. This process is the most standardized production process. The product is fully designed and completed before selling it; there is no chance at customization. Option II: False.
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This note was uploaded on 08/30/2011 for the course MGO 302 taught by Professor Hancock during the Fall '08 term at SUNY Buffalo.

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PRODUCTS AND PROCESSES- Worked Answers for 1-6 - Product...

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