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10 Cards in this Set
- Front
- Back
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In which of the product life cycle should product strategy focus on process modifications as the product is being "fine-tuned" for the market? a) introduction b) growth c) maturity d) decline e) incubation |
a) introduction |
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Which of the following is true regarding value engineering? a) value engineering occurs only after the product is selected and designed b) value engineering is oriented toward improvement of design c) value engineering creates fragile design d) value engineering occurs during production when it is clear the product is a success e) value engineering can save substantial amounts of product cost, but quality suffers |
b) value engineering is oriented toward improvement of design |
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Transition to production refers to the act of moving a product to production from what? a) inventory b) the supplier c) development d) the market e) the wholesaler |
c) development |
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Which of the following product development strategies has the highest product development risk? a) acquiring the developer b) alliances c) joint ventures d) purchasing technology e) new internally developed products |
e) new internally developed products |
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JDI, Inc. is trying to decide whether to make or buy a part (#J-45FPT). Purchasing the part would cost $1.50 each. If they design and produce it themselves, it will result in a per unit cost of $0.75. However, the design investment would be $50,000. Further, they realize that for this type of part, there is a 30% chance that the part will need to be redesigned at an additional cost of $50,000. Regardless of whether they make or buy the part, JDI will need 100,000 of these parts. Using decision trees analysis and EMV, what should JDI do? |
Since the expected values represent costs, JDI should select the lowest expected value, and make the part. Its expected monetary value (cost) is $140,000 versus $150,000 for the buy decision. |
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A restaurant kitchen contains a wall poster that shows, for each sandwich on the menu, a sketch of the ingredients and how they are arranged to make the sandwich. This is an example of a(n): a) assembly drawing b) route sheet c) bill of material d) work order e) assembly chart |
a) assembly drawing |
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According to PCN analysis, service operations exist only within the area(s) of a) independent processing b) independent processing and surrogate interaction c) independent processing and direct interaction d) surrogate interaction and direct interaction e) independent processing, surrogate interaction, and direct interaction |
d) surrogate interaction and direct interaction |
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If a design can be produced to requirements even when the production process has unfavorable conditions, the design is said to be _____. |
Robust |
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Which of the following is an example of an external product development strategy? a) enhancements to existing products b) enhancements to existing products c) alliances d) migrations of existing products e) all of the above are examples of internal product development strategy |
c) alliances |
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Which of the following product development strategies has the highest product development risk? a) acquiring the developer b) alliances c) joint ventures d) new internally developed products e) purchasing technology |
d) new internally developed products |
