Products
The ___ is all the activities required to create a product.
Production Process
Introducing a new product to a small portion of the target market to learn how it will sell is _____.
Test Marketing.
The measure of a worker's production in a specific amount of time is ____.
Productivity.
The assortment or selection of items that a business has on hand at a particular point in time.
Inventory
The process of deciding which products will be most strategic for the organization to produce.
Product planning
____ is the series of stages a product goes through from its beginning to the end.
Product life cycle
Name one of the typical activities in an effective production process?
Planning, Purchasing, Scheduling, Inventory control, or Quality control
The specialization of individuals who perform specific tasks is___.
Division of labor.
The difference between the perpetual inventory and the physical inventory is____.
Inventory Shrinkage.
Manufacturing goods in large qualities using standard techniques
Mass production
A working model of a new product for testing purposes
Prototype
In the new product development process, a new product is introduced to the market during the ___ stage.
Commercialization
____ describes the characteristics of a product that satisfy wants and needs.
Utility
A(n) ____ inventory-control system is a method of counting inventory that shows the quantity on hand at all times.
Perpetual
The idea that people have about someone or something
Image
The process of changing and improving resources to create goods or services.
Conversion
Testing new services before they are commercially available is accomplished through ___.
Trial runs
The area of management responsible for the activities to produce goods and services is___.
Operations management.
A business that sells materials, supplies, or services to an organization that creates a product.
Supplier
A ____ inventory control system keeps a minimal amount of raw materials on hand to meet production needs.
Just-in-Time
___ utility is important in production because it includes the conversion of raw materials into finished product.
Form
Marketing an existing product in a new way to create a new opinion or view of the product in the minds of customers to increase sales.
Repositioning
The activity of checking products as they are produced or received to ensure quality meets expectations is ___.
Quality Control.
Finding suppliers of materials needed for the production of a product
Sourcing
A large gathering of businesses for the purpose of displaying goods and services for sale is a(n) ___.
Trade show.