Which ISO standard describes quality as 'the degree to which a set of inherent characteristics fulfils requirements'?
The correct answer is ISO 9000 - this was based originally on the British Standard BS 5750.
ISO 14,001 is an environmental management standard.
ISO 19,000 is a management systems standard.
'The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:
The correct answer is 'long life'.
Lifetime doesn't really make sense in respect of the other answers offered.
Van Weele wrote that 'quality is the degree in which XXXX requirements are met. We speak of a quality product or quality service when supplier and XXXX agree on requirements and those re-quirements are met'.
Quality, like most things in business, is ultimately about the customer.
The abbreviation 'PDCA' represents the words:
The Plan-Do-Check-Act cycle, attributed to Deming, stresses the need for action in improving quali-ty. Plan Do Check and Assess would have been close to the correct answer, but not quite close enough.
The other responses shown here are simply made up to fit the letters.
The letters 'EOQ' refer to:
The Economic Order Quantity is a formula which attempts to calculate the most efficient quantity to order at any given time, by attempting to reconcile the cost of stockholding and the cost of plac-ing an order. This could then have implications for the timing of an order being placed.
The cost of holding stock can be reasonably accurately calculated and agreed with one's peers. However, determining the cost of placing an order can keep colleagues up late into the night, and can be a great topic to liven up a sleepy procurement / finance function.
