The Text Notes That What We Now Call Operations Management

question 89

Multiple Choice

The text notes that what we now call operations management was once called production management and implies that there are several reasons for the change in definition.Which of the following is NOT one of those reasons?

• A)The decline in manufacturing in the United States in recent years
• B)Changes in manufacturing processes such as the increased use of robots and other computer-based technology
• C)The increase in the size and importance of the service sector in the U.S.economy
• D)Drastic increases in foreign competition and the subsequent effects it has had on U.S.firms
• E)The fact that many of the tools and techniques used in manufacturing can also be used in the service sector

Gain insights into the relationship between fixed assets, liabilities, and stockholders' equity through ratio analysis.

Understand dividend calculation and its impact on stock valuation.

Be familiar with the process of analyzing asset turnover ratio and its impact on company performance.

Develop skills in preparing and analyzing comprehensive income statements.

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Definitions:

Shim Pack Thickness

The total combined thickness of a set of shims, used to adjust clearances or alignments in machinery.

Gear Lube Viscosity

Refers to the thickness or resistance to flow of gear lubricants, important for ensuring the correct lubrication properties for gears and transmissions.

Severe Winter Conditions

Extreme weather situations characterized by low temperatures, heavy snowfall, ice, and dangerous road conditions, affecting travel and infrastructure.

Lubrication-Related Failures

Failures in mechanical systems caused by inadequate lubrication, leading to increased friction, wear, and overheating.