8 Lean production and just-in-time concepts became important ______. a in the mid 1980s, thanks to Motorola b in the early 1940s, thanks to Ford c in the early 1970s, thanks to Toyota d in the mid 1980s, thanks to General Electric 19 Which of the following statements is true with regard to workflow? a Workflow is the sequence of connected steps or operations necessary to complete a task. b Dependence is the idea that adjustments to one element in the workflow have no implications for other elements. c Independence with regard to workflow is the idea that an element in the workflow is not subject to government regulation. d Throughput is a measure of speed applied to processes in the service industry. 20 Deciding whether to use a push or pull system depends upon ______. a an organization’s philosophy of sustainable operations b the type of industry in which the organization competes c the extent of regulation enforced by the government d the impact of ISO standards on the company’s operations
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
| 18 | Lean production and just-in-time concepts became important ______. |
| a | in the mid 1980s, thanks to Motorola |
| b | in the early 1940s, thanks to Ford |
| c | in the early 1970s, thanks to Toyota |
| d | in the mid 1980s, thanks to General Electric |
| 19 | Which of the following statements is true with regard to workflow? | |
| a | Workflow is the sequence of connected steps or operations necessary to complete a task. | |
| b | Dependence is the idea that adjustments to one element in the workflow have no implications for other elements. | |
| c | Independence with regard to workflow is the idea that an element in the workflow is not subject to government regulation. | |
| d | Throughput is a measure of speed applied to processes in the service industry. |
|
| 20 | Deciding whether to use a push or pull system depends upon ______. | |
| a | an organization’s philosophy of sustainable operations | |
| b | the type of industry in which the organization competes | |
| c | the extent of regulation enforced by the government | |
| d | the impact of ISO standards on the company’s operations |
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