In operations management, what does 'benchmarking' involve?

A$)$ Comparing performance against industry standards

B$)$ Setting goals based on past performance

C$)$ Analyzing market trends

D$)$ Measuring employee productivity

Which term describes the practice of managing and improving the entire flow of materials from suppliers to customers?

A$)$ Supply Chain Management

B$)$ Production Scheduling

C$)$ Logistics Management

D$)$ Inventory Control

What is the main goal of 'Kaizen' in the context of operations management?

A$)$ Achieving long$-$term strategic goals

B$)$ Focusing on short$-$term cost reductions

C$)$ Continuous incremental improvement

D$)$ Implementing major changes in processes

Which method involves creating a detailed schedule of production activities to optimize resource utilization and meet demand?

A$)$ Material Requirements Planning $($MRP$)$

B$)$ Just$-$In$-$Time $($JIT$)$

C$)$ Capacity Planning

D$)$ Production Scheduling

What is a 'bottleneck' in a production process?

A$)$ A stage that has excessive capacity

B$)$ A stage where production is delayed due to limited capacity

C$)$ A part of the process that is always running smoothly

D$)$ A stage where there is no need for improvement

Which of the following concepts refers to the minimum number of units required to be produced to cover fixed costs?

A$)$ Contribution Margin

B$)$ Break$-$Even Point

C$)$ Return on Investment $($ROI$)$

D$)$ Gross Margin

What is the primary function of a Gantt Chart in operations management?

A$)$ Analyzing customer satisfaction

B$)$ Scheduling and tracking project progress

C$)$ Measuring inventory turnover

D$)$ Managing supply chain risks

Which term refers to the process of systematically analyzing and improving business processes to reduce waste and improve efficiency?

A$)$ Business Process Reengineering $($BPR$)$

B$)$ Total Quality Management $($TQM$)$

C$)$ Lean Six Sigma

D$)$ Continuous Improvement

In operations management, what is 'capacity planning' concerned with?

A$)$ Ensuring the availability of materials

B$)$ Managing workforce schedules

C$)$ Determining the production capacity needed to meet future demand

D$)$ Scheduling machine maintenance

Which of the following is a key component of 'Total Quality Management' $($TQM$)?$

A$)$ Focusing solely on customer satisfaction

B$)$ Implementing quality control checks at final inspection

C$)$ Continuous improvement and involvement of all employees

D$)$ Outsourcing quality control to third parties