Facility Layout
Workers or departments that perform similar tasks may be grouped together in a _____ layout
What is process.
This tool is best for diagramming complex schedules.
What is the PERT chart.
The basic reasons why nations trade.
What is because no nation’s economy can produce all of the goods and services that it needs
This occurs when the facilities set up in a foreign country replace U.S. manufacturing facilities and are used to produce goods that are sold in the foreign country
What is offshoring
In this culture, the numerous interlocking personal and family connections hold people together and have an effect on almost all interactions
High-volume goods are produced efficiently by people, equipment, or departments arranged in a(n)
What is assembly line
This easy to use graphical tool helps operations managers determine the status of projects.
What is Gantt
This is the largest factor in a country’s balance of payments
What is the money flow due to imports and exports
These high domestic ___ costs have made international contract manufacturing, or outsourcing, attractive to many U.S. companies
What are labor costs
Policies that restrict free trade among nations are called _____
What are trade controls
Both product and process layouts arrange work by _____.
What is function
The critical path is.
What is the sequence of activities that will require the greatest amount of time
This is the difference between a country’s total outflows and inflows of money over a period of time
What is balance of payments
McDonald’s, Burger King, Pizza Hut, and KFC restaurants, all of which operate in many different countries, are best characterized as _____ corporations
What are multinational
This powerful trading bloc came about because of an agreement between the United States, Canada and Mexico
What is USMCA (United States-Mexico-Canada Agreement)
True or False /
A fixed-position layout is used to make large items that stay in one place while workers and equipment go to the product
What is true
True / False Gantt charts are useful when the production process is complex and activities are interrelated
What is false
This occurs when a country buys more goods and services than it sells over a specified period of time.
What is a trade deficit
This is an agreement between two companies (or a company and a nation) to pool resources to achieve goals that benefit both partners
What is a strategic alliance.
What are the two most important institutions that monitor international trade policies
What are GATT (General Agreement on Tariffs and Trade) and WTO (World Trade Organization)
This type of production layout arranges its computer assembly into teams working in a U- shaped formation so that they can share the work and some of the equipment.
What is cellular layout
When production processes reach a certain level of complexity, operations managers may use this chart to schedule activities
What is PERT.
According to the principle of _____, a country that decides to specialize in the production of a particular product must sacrifice the production of another product
What is opportunity cost
This is the international language of business.
What is English
A country’s level of economic development is related to its ______
What is standard of living