Customization occurs when

Select one:

a.

Products or services are world-class, suitable for most markets

b.

Products or services are offered on a made-to-order basis

c.

Products or services are developed with several options

d.

None of the above

Generally speaking, products are characterized by immediate consumption.

Select one:

True

False

Generally speaking, products are characterized by immediate consumption.

Select one:

True

False

Inputs in a banks production system may include:

Select one:

a.

Loan default rates and the environment

b.

Interest rates and wage rates

c.

Checks and deposits

d.

Federal Reserve decisions and the economy

Learning how to plan and control project activities to meet specifications for performance, schedule, and cost are among the subjects of:

Select one:

a.

Project management

b.

Lean management

c.

Supply chain management

d.

Inventory management

Operations only include those activities associated specifically with the production system.

Select one:

True

False

Quality typically implies reliability.

Select one:

True

False

The mortality curve is also referred to as the fallout rate.

Select one:

True

False